Timeline & Operating Plan

Timeline & Operating Plan

A transparent look at our goals and successes

Read on to learn about the three priority goals of Delaware Prosperity Partnership and explore some of our milestone dates for major organizational successes.

The Delaware Prosperity Partnership (DPP) was created to enhance the state’s ability to attract, grow and retain companies; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent.

The DPP serves as the first point of contact for site selection consultants and business decision makers and promotes the benefits of establishing, expanding, or relocating businesses in Delaware. It combines the resources, networks, and expertise of its private and public investors and partners to raise the profile of Delaware as a world-class location for business and individual prosperity. It connects existing and prospective businesses with state and local partners and the variety of essential economic development resources they provide: human, financial, entrepreneurial, technical, and intellectual. All DPP programs are tracked and reported on regularly so that performance can be measured and actions can be adjusted to yield maximum results.

Read on to learn about the three priority goals of Delaware Prosperity Partnership and explore some of our milestone dates for major organizational successes.

Goal 1

Engage in targeted business development and marketing efforts focused on the state’s primary clusters.

1.1. Enhance Delaware’s image as a center of international business through targeted marketing and promotion activities.

1.2. Cultivate relationships and networks with business executives for the recruitment of new businesses to Delaware, especially in target clusters and sectors.

1.3. Build awareness of Delaware as a destination for investment among site selection consultants and commercial real estate brokers.

1.4. Promote Delaware for foreign direct investment through a global platform.

1.5. Conduct high level research and data analysis to support DPP business development activities and to inform the public on the economic performance of the state.

1.6. Coordinate with state and local partners to build a statewide business retention and expansion (BRE) system.

Goal 2

Develop strong working relationships with partner organizations, constituencies and investors.

2.1. Create a dynamic look and brand for the DPP.

2.2. Engage in regular communications activities designed to tell the DPP story to key external and internal audiences in the state.

2.3. Conduct an ongoing investor development program through an outreach effort to both existing and potential investors in the DPP.

2.4. Work with the Delaware State Chamber and the Division of Small Business to establish a Delaware Economic Development Council to serve as a forum for state and local economic development organizations to share information regarding state and local economic development activities, successes, and concerns.

2.5. Coordinate statewide responses to investment RFPs. As the state’s chief marketing and business development organization, DPP will be generating new outside investment leads and in most cases will be the primary point of contact for businesses interested in investing Delaware.

2.6. Work with other state partners to develop a set of procedures for awarding financial
incentives to companies it is recruiting to Delaware.

2.7. Support ongoing efforts to develop, retain, and attract talent in Delaware.

Goal 3

Support the growth and maturation of the state’s entrepreneurship and innovation ecosystem.

3.1. Build a statewide entrepreneurship and innovation ecosystem asset map to help entrepreneurs, start-up companies, and investors to navigate the state’s existing resources and networks.

3.2. Enhance the depth and diversity of technical assistance and networking resources available to the state’s startups and second-stage companies.

3.3. Raise awareness of Delaware’s entrepreneurial success stories.

3.4. Work with the state chamber and other partners to advise the State on needed policies to support the entrepreneurship ecosystem.

3.5. Market the state to risk capital funds in other markets.

3.6. Target and recruit growing early-stage firms in other markets.

Important Dates

July 2016
Delaware Business Roundtables releases the Delaware Growth Agenda

January 2017
Governor Carney issues Executive Order One

April 2017
The Delaware Economic Development Working Group report issued

August 2017
Governor Carney signs House Bill 226 establishing the Delaware Prosperity Partnership

September 2017
First meeting of the DPP Board of Directors

December 2017
501(c)(3) status approved from IRS

March 2018
$1.3 million raised from 39 private investors to support the DPP

March 2018
First CEO announced