New Castle County Executive Tom Gordon made it clear that he does not see the glass as half full when it comes to the economy in New Castle County.
In brief remarks, earlier in the week at the annual luncheon of the New Castle Economic Development Council Gordon said the county’s economy is in poor shape and in need of attention.
He pointed to recent reports showing Delaware with low economic rankings.
Gordon said his administration plans to come up with an economic development plan that identifies the county’s strengths. The county tax base depends on property taxes, transfer taxes and building permit fees. All are tied to some degree to the performance of the economy.
Gordon has ordered a reduction in impact fees in an effort to encourage more new home construction. The fees are used to help pay for county services to new properties.
During his first time around as County Executive, Gordon provided funding for the council, which is also supported by around 30 businesses. The council affiliated with the New Castle County Chamber of Commerce. The chamber also operates a business incubator that nurtures and provides space for young businesses.
More optimistic about the future is Rick Deadwyler, who recently took the government relations slot at the University of Delaware after a career at DuPont.
The former UD basketball star said it is an exciting time for the county economy, taking note of the university’s STAR campus, the new home of the Bloom Energy manufacturing site and the proposed Data Centers project.
Deadwyler did not mention the Data Centers by name, but New Castle County Chamber President Mark Kleinshmidt did. He said the project would provide a big boost for the economy. The chamber has also formed the Greater Newark Network, a group formed to champion economic development in that area.
Delaware venture capitalist David Freschman said Delaware needs to do a better job of talking about the innovations that have come out of its research labs and garages.
Among the innovations that have come out of the state are Gore-Tex fabric, the touch technology in iPhones and DuPont’s Corian counter material, Freschman said.
More important than tax and spending policies is the ability to attract entrepreneurs who come up with new technologies that create wealth, Freschman said.
Freschman founded Early Stage East, a venture capital fair that has raised more than $1 billion in funding during its existence.
Freschman introduced keynote speaker Jennifer Hill, a lawyer and small business expert, who also focuses on issues related to female entrepreneurs.
Hill talked about a changing community that can now operates worldwide and the rise of “crowd funding” sites such Kickstarter and Indiegogo. The sites allow young companies to raise funds from a community of investors.
Hill would also like to see more skill hubs with concentrations of software writes and other technology professionals.
