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Kent County

Delaware jobless rate drops to 4%

Delaware’s seasonally adjusted unemployment rate in February 2024 dipped to 4%, down from 4.1% in January 2024, the Delaware Department of Labor reported. Revised figures from the Labor Department also reported that the annual jobless rate fell to 4%. The report also included annual revisions in employment statistics as payroll data replaced estimates. Delaware's unemployment rate is now closer to matching...

Morris James signs lease at new Avenue North high-rise

The Delaware law firm of Morris James has leased more than 40,000 square feet in the high-rise building at the Avenue North development near Wilmington. The Philadelphia Business Journal first reported the transaction. The publication indicated that the law firm is vacating Class A space in downtown Wilmington as the high-rise moves toward full occupancy. In February, Morris James...

Hispanic Chamber of Commerce launched in Delaware

This story was produced by Spotlight Delaware, a community-powered, collaborative, nonprofit newsroom covering the First State. Learn more at spotlightdelaware.org  By José Ignacio Castañeda Perez The Delaware Hispanic Chamber of Commerce launched last week in Wilmington with over 200 Hispanic businesses already on board. The chamber will bolster Hispanic businesses in the state by providing business owners and entrepreneurs with Spanish-language resources to grow and...

2 Kent, Sussex community solar sites near groundbreaking stage sold

Luminance will acquire two solar sites from ECA Solar, a renewable energy developer and producer. The plants, with a combined capacity of more than 10 megawatts, are in Delmarva Power's service territory in Kent and Sussex counties. Luminace is part of Brookfield Renewables, a Canadian company that also manages investments. The facilities are expected to provide solar energy to...

Delaware ranks 49th as homeowners remain reluctant to take on more mortgage debt

Delaware ranked 49th among the 50 states in adding mortgage debt. The WalletHub financial information site issued the report. WalletHub compared the 50 states based on its data on mortgage debt from the third quarter of this year to the previous period a year earlier. Delaware highlights Overall rank: 49th Change in average mortgage debt: The average mortgage balance in Delaware...

February home sales market sees increase in listings and dip in number of units sold

The Delaware Association of Realtors reported what it termed as a healthy increase in new listings. The group sees the increase as a positive sign as listings have been in short supply. While new listings were on the rise, the number of units sold decreased by 6%. The realty group said buyers are taking a more selective approach. The median listed...

Artesian sees lower earnings in 2023

Artesian Resources Corporation reported lower earnings in 2023 with the company seeing higher expenses that are now being offset by a temporary rate increase. The Newark area water company reported net income of $16.7 million, a $1.3 million, or 7.2%, decrease compared to 2022. Artesian operates in all three Delaware counties and in Cecil County, MD. Revenues totaled $98.9 million for...

House committe okays bill requiring hospital systems to report community benefit spending

A Delaware House committee has passed legislation that would order the state's nonprofit hospital systems to report their community benefit spending. House Bill 326 would require hospitals to report spending on uncompensated care, support for medical research, health education and prevention programs, community clinic subsidies, and social factors that affect health, according to the bill's text. The bill, sponsored by...

O’Mara makes it a 3-way Dem race for Delaware governor

 Today, former Delaware Secretary of Natural Resources and Environmental Control and current CEO of the National Wildlife Federation Collin O’Mara announced that he is the first Democrat to file as a candidate for governor. At the end of 2023, O’Mara said he had formed an exploratory committee to determine whether Delaware Democrats wanted a different option in the...

Business Roundtable rolls out report calling for political leaders to focus on prosperity and growth

The Delaware Business Roundtable released a report on Tuesday calling for a "comprehensive, fact-based framework for Delaware’s political leaders to set a bold course toward prosperity and growth." “Delaware must fundamentally prioritize and invest in long-term economic development, including a vibrant, supportive ecosystem for entrepreneurs, workforce development, and a healthy private sector in the face of intense competition for jobs,...

Wawa plans to open 70 new stores in 2024

In 2024, Wawa plans to open more than 70 new stores, including first stores in three new states of Alabama, Georgia, and North Carolina. Openings are coming in the Midwest in the coming years as well as central and western Pennsylvania. Wawas are mainly located in the Mid-Atlantic and Florida. Delaware has more than four dozen stores. The store count...

Harrington on Rite Aid closing list

A Rite Aid store in the Kent County town of Harrington is the latest on a closing list filed in U.S. Bankruptcy Court in New Jersey The Kent County location was one of 77 stores listed in a court document and follows earlier store closings, mainly in northern Delaware.. Rite Aid filed for Chapter 11 protection due...

Delaware gas prices up slightly as national figures show heftier increase

Delaware gas prices rose a couple of pennies in the past week as the gap widened between national and state averages. As of Monday, the First State average gas price was about 12 cents lower than the national figure, after a period when the two were within a few cents of each other. AAA reported that the upward trend is...

My take: Labor market, Kroger-Albertsons and Macy’s

A few odds and ends from the labor market and retailing. First off, we won't see the state's labor market (unemployment) report for January until March, followed by the February stats later in the month. The state's jobless rate is likely to remain fairly steady. The timing of reports has to do with a short month and labor market figures being...

Delaware home sales market slows slightly in January

The Delaware Association of Realtors reported that January's housing market posted a slight decrease in new listings and homes sold. The inventory of new homes did rise sharply. The median price increased by 4.50%, However, the median listed price increased by only 0.17%. The real estate group stated that pending sales fell by 8%, but active inventory showed 13% growth,...
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