A report from the Delaware Business Roundtable calls for new approaches to economic growth and development.
The report comes as the state’s major employers, such as DuPont, undergo drastic changes. DuPont and Dow shareholders on Wednesday approved the merger of the two companies that will lead to the split-up of the combined entities into three separate corporations.
The report pointed to long-running issues such as the loss of goods-producing jobs, education, taxes, a structural problem in the state’s finances and not in my backyard opposition that can stymie potential projects.
Recommendations included building an entrepreneurial and innovation ecosystem, restructuring of the state’s approach to economic development and emphasizing the need to improve Delaware’s business climate.
Delaware State Chamber of Commerce President & CEO Richard Heffron released the following statement applauding the Delaware Business Roundtable releasing the Delaware Growth Agenda, which outlines steps Delaware should take to secure its economic future.
“Today’s release of the Delaware Business Roundtable’s Delaware Growth Agenda reinforces what the Delaware State Chamber of Commerce, and other business groups, have been saying-that in order for Delaware to have sustained and successful long-term economic growth there needs to be a commitment by elected leaders to make difficult decisions, Heffron stated.
“The industries that have long defined Delaware are changing, and Delaware must adapt and change to remain relevant to business on decisions to expand or relocate here. A renewed commitment to education and workforce development, developing an entrepreneurship climate, continuing a nimble approach to economic development and focusing on pro-business legislation and regulations all must be a part of a successful Delaware, Heffron concluded.
The report was also endorsed by the Committee of 100, a business organization
— “The Business Roundtable has produced a valuable blueprint to guide the discussion about Delaware’s economic future,” said Michael J. Scali, president of The Committee of 100. . “Many have asked what the next ‘big thing’ will be for the state’s economy, and the answer is likely to be many ‘small things.’ The Growth Agenda captures the need for Delaware to embrace entrepreneurism and encourage innovation,” Scali added.
Besides highlighting the need for Delaware to continue building an entrepreneurial and innovation ecosystem, the Roundtable calls for a restructuring of the state’s approach to economic development, perhaps creating a new public/private development corporation, and emphasizing the need to improve Delaware’s business climate.
The Committee of 100 Executive Director Paul Morrill praised the Roundtable’s emphasis on the need for Delaware to invest in infrastructure and in education/workforce development. “Having world class infrastructure, be it transportation, communications or water, and having a well-trained workforce are the basic building blocks for economic development. The Delaware Growth Agenda is a good place to start a new discussion on Delaware’s need to focus state expenditures on investments rather than just spending,” Morrill said.
The report stopped short of recommending changes in the state’s alternative energy policies or endorsing a right to work law. Mandates on the use of alternative energy and cap and trade on emissions have been blamed for driving out business through high utility rates.
Critics say the lack of a right to work law dooms any efforts to bring auto industry jobs to the state.
Repeal of the energy mandates and voting in a right to work law is unlikely in a state where Democrats control both houses and the governor’s office.
Democrats also have a faction within the party that would like to see higher corporate taxes and an end to what they term as “corporate welfare” in the form of grants and other incentives to retain jobs.
