Good afternoon,
One message that came out f this morning’s Delaware Council on Development Finance meeting centered on the current labor market. And this time around, the news wasn’t bad.
Council meetings typically have short agendas, with presentations from companies seeking Strategic Grants tied to new or retained jobs.
On Monday morning, the council waded through a number of requests (see accompanying story on website or newsletter) ranging from a cheesesteak meat processor with ambitious plans for a site in the industrial area of Wilmington’s waterfront to a financial technology company that wants to build its digital banking/investment platform in Wilmington.
Perhaps the most interesting request came from a “tiny house” builder in Sussex County with a built-in market for cottages placed in campgrounds and RV parks.
Applicants pointed to serious challenges in finding workers but added that Delaware’s labor market was one of the big reasons for expanding in Delaware.
Their strategy is to pay higher wages while offering bonuses and enhanced benefits as a way to attract and retain workers.
Another encouraging piece of news was the absence of requests from multinational companies shopping around for the best deal. Instead, applicants were family-owned operations.
The increased activity from companies seeking expansion assistance presents a challenge to current employers who will have to step in dealing with a far more restless workforce.
There is a solid case to be made for not offering government assistance for private businesses. But as long as other states are in the game, Delaware has no choice but to remain a player in building a more extensive base of small and mid-sized employers. – Doug Rainey, chief content officer.
