May 13, 2021 –

When Bill Pfaff became the director of the Delaware Small Business Development Center in Kent and Sussex counties, his boss, Clinton Tymes, offered some words of wisdom: “Give the business community what they need.”

That was in 1992, and Pfaff has never forgotten the advice. When he became the director of Sussex County Economic Development in 2017, he visited each of the county’s 25 towns to determine their individual economic dreams and create zones to offer specialized funding.

As a county resident, he knows the differences between eastern and western Sussex County. He calls the latter “a new frontier” for business expansion.

“I feel very lucky that I’ve been able to be part of Sussex County success stories,” he says. “There’s no question that it is different here than it was 30 to 35 years ago.”

What attracted you to the field of economic development? 

I worked in this community for almost 30 years, and I enjoyed my entire career with the Delaware Small Business Development Center. I’ve been blessed to be able to help Sussex County grow throughout my career and help local businesses. I’d rather see a business come to Delaware than another state.

What is the unique selling proposition for Sussex County?

The size of the county — there is a lot of opportunity for development. All 25 communities in this county have unique assets and shovel-ready sites. The second is the quality of life, both from a business and a family standpoint.  

What sectors are strong in Sussex County, and what sectors are you looking to grow?

Agriculture is one of the top two industries in the county. The farmers support the poultry industry with what they’re growing. Tourism is another booming sector, and we work very closely with all the chambers of commerce and Southern Delaware Tourism. 

There’s no question that healthcare is a big industry in this county as a result of so many people moving here. When you look at what healthcare jobs pay, you can see that they’re a real boost for the county.

What have businesses found most appealing about Sussex County?

The infrastructure. Businesses need water, sewer, electricity and high-speed internet, and they will find that in Sussex County. Eastern Shore Natural Gas, a subsidiary of Chesapeake Utilities, is installing natural gas throughout the county. We have four major highways that lead to major metropolitan areas in the Mid-Atlantic region. There are a number of locations throughout Sussex County that offer rail.

What is the advantage of promoting an area in the United States’ second-smallest state? 

Two weeks ago, my phone rings, and it was Governor John Carney asking me for a phone number. In Delaware, we’re all family, and we help each other. 

When you were young, what did you want to be when you grew up?

I thought that I’d go into business and be my own boss. I didn’t know the word “entrepreneur” then, but I knew it was special. My family knew people who were running a lumberyard, a restaurant, hardware stores, the local pharmacy. That’s why I’ve always enjoyed working with people starting businesses.

What did you study in college?

Business administration at York College of Pennsylvania.

What was the last book you read?

I just read the biography of Mother Angelica. She established Our Lady of the Angels Monastery in Birmingham, Alabama, and founded The Eternal Word Television Network. She had an idea and saw a need. She had a message and created something from nothing.

Whom do you admire?

My father made me who I am today. I was also very active in the Boy Scouts of America when I was growing up. I looked up to the leadership, and they really taught me so much.

What advice would you give someone considering a career in economic development?

Know your community, its needs and what is available. Most importantly, know the regulations, from stormwater management to wastewater. You must fully know what a business needs — the full package — so you can understand the potential impact.

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May 12, 2021 – 

Patty Cannon has been the director of Intergovernmental Relations & Special Projects with the Delaware Division of Small Business since 2015. She and her colleagues partner with Delaware business and industry leaders and state, county and municipal representatives – and collaborate with site selectors, consultants, real estate brokers, sister agencies and community groups – to grow Delaware’s economy.

Cannon’s work centers around initiatives such as Brownfields development and redevelopment; statewide comprehensive economic development strategies; EB-5 targeted employment areas; the Emission Reduction Credit Program and Foreign Trade Zone administration. She finds her work in economic development truly gratifying, thanks to its ability to change lives.

“It is tremendously satisfying to know that your efforts to recruit and/or retain a business can have such a positive impact in your community,” she says. “Always remember that every piece of the puzzle matters!”

What attracts you to the field of economic development?  

​Economic development happens when passionate people who care about a community find creative and collaborative ways to meet the needs of industry leaders. I have always been attracted to working with people who may approach a problem from very different perspectives but who have a shared goal of finding mutually rewarding solutions. At its core, economic development is about listening to truly learn the needs of the community and the business leaders and then working to find a way to meet those needs that is compatible to both sides. Headlines often promote economic wins as though a company made a decision, but in reality, PEOPLE are making decisions, respectively, about what is best for their community and their business. I thoroughly enjoy being in the “people” business.

What advice would you give someone considering a career in economic development? 

A career in economic development is exciting and rewarding! When a company’s leadership chooses to create jobs in your community, it has a positive impact that enriches the entire community. Some of your friends and neighbors may find a new career, local businesses may become suppliers to the new business and, often, new capital investments will create new construction jobs. Whether your contributions are focused on data collection, writing narrative, negotiating incentives, refining site selection, creative compilation or permitting, never underestimate how important each piece of that puzzle matters to presenting the best business proposition for the business leaders who will be making the final decisions.

What do you see as Delaware’s unique selling proposition?

Delaware is often referred to as a “state of neighbors,” and that is Delaware’s strongest and most unique selling proposition! Delaware boasts all of the traditional economic development assets, including a highly skilled workforce, customized training opportunities, expedited permitting, etc. But the collegial approach to neighbors helping neighbors is the magic that is the “Best of Delaware” – in my humble opinion. From elected officials and regulators working across the aisle, to industry, labor and community leaders working together, Delaware is a “state of neighbors,” and we welcome you to visit Delaware. This unique “selling proposition” is best experienced in person! 

What is the latest book you have read and would recommend?

“Riding the Bus with My Sister” by Rachel Simon (a Delaware author). It’s a gentle reminder that everyone has value and deserves to find their place in this world.

What have been some highlights of your career to date?

One of the greatest highlights of my career to date was in leading Delaware’s response to the famous Amazon HQ2 RFP. As you may recall, Delaware did not land the Amazon headquarters, but we did, in fact, build an amazing team of community leaders who worked together to craft a compelling business case. Amazon’s debriefing taught us that although there were other locations with larger population density that pushed Delaware out of the top contenders for that project, Delaware had submitted an impressive response that got their attention.

The Amazon HQ2 team members have continued to contribute to Delaware’s economic development efforts in various ways. Just to name a few: Ben duPont, who was a founding member of Zip Code Wilmington, continues to develop creative ways to grow Delaware’s coding expertise through Zip Code Wilmington, the {OpenBracket Delaware} computer coding championship and as managing director and co-founder of Chartline Capital Partners; Patrick Callahan, a serial entrepreneur, has developed a team to launch the Delaware Data Innovation Lab; and, John Riley published his first book, “Delaware Eyewitness: Behind the Scenes in the First State,” after leading government relations for two global corporations and helping to set up Delaware Prosperity Partnership to lead Delaware’s economic development initiatives into the future.

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May 11, 2021 –

Linda Parkowski is a mover and shaker with a seemingly endless supply of ideas. Since 2018, she’s been the executive director of Kent Economic Partnership, which trades as Choose Central Delaware. Certainly, she knows the area well. She’s lived in Kent County for 30 years, and she raised her family here.

Last year was a busy one for Parkowski. Delmarva Corrugated Packaging is building an $80 million facility in Dover, and the Duck Creek Business Park broke ground.

Previously, Parkowski was acting director of Delaware’s Division of Small Business Development & Tourism and the director of tourism for the state. Under her guidance, tourism grew from a $1.5 billion industry to a $3.3 billion powerhouse.

What attracted you to the field of economic development?

When I was director of tourism, we were housed in the Delaware Economic Development Office, so I was surrounded by economic development every day for at least 10 years. I found it fascinating. I liked the sales portion of it — business attraction. It’s exciting. There’s something new every single day.

What is the unique selling proposition for Central Delaware?

It’s our location. We’re close to all the metropolitan areas — D.C., Philadelphia and New York. Sixty percent of the U.S. population is within a three-hour radius of us. I think that’s very important. 

We have an excellent workforce in Central Delaware, especially in the technical and skilled labor pool that fills a manufacturing need. Our new economic analysis study shows that we have plenty of workforce within a 60-minute drive time of our area.

What sectors are strong in Central Delaware, and what sectors are you looking to grow?

We have a strong small-to-medium manufacturing sector. (There are more than 75 manufacturers in Central Delaware.) Logistics is strong due to our location on the Delmarva Peninsula. We are looking to expand our healthcare sector and offer more training in the area. 

What have businesses found most appealing about Central Delaware?

They like the location and the cost of living for their business and their employees. Our last few large customers have come to the region because of the railway. It’s essential in the industrial sector. 

What is the advantage of promoting an area within a small state?

Choose Central Delaware works hand-in-hand with Delaware Prosperity Partnership. If we have a lead that comes into Central Delaware and it’s not a good fit, we send it to the other two counties. There are a lot of partnerships going on throughout the state in economic development right now.

If we need to get a legislator or the governor on the phone to reach out to a potential customer, it can happen in Delaware. I’m not sure that happens all over the country.

When you were young, what did you want to be when you grew up?

I wanted my own landscaping company. For my first job, I cut grass and had a mini landscaping company from age 10 to 17. I bought my first car with the proceeds. Now I live on a farm, and I’m outside all the time.

What did you study in college?

Business. I wanted to study something general, so it would be applicable no matter what I decided to do.

What is the last book that you read?

“The Great Alone” by Kristin Hannah. It’s about a family that moves into the Alaskan wilds in the 1970s. You feel as though you are there.

Whom do you admire?

Mark Cuban. I don’t watch “Shark Tank,” but I admire him. He gives advice that has a lot of common sense.

What advice would you give to someone considering a career in economic development? 

I would say that having a real estate background would be extremely helpful or something in planning and zoning. I took a lot of planning and zoning courses. Hopefully, you enjoy the sales portion of it.

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May 11, 2021 –

Jamie Burk is comfortable wearing many hats. The assistant town manager for Millsboro is involved in the town’s human resources, public works, and building and maintenance codes. He manages infrastructure projects, such as the recent completion of a million-gallon water tower, as well. 

He’s also active in economic development for the town, which has about 7,000 residents and more than 40 town employees. Commercial and residential growth has made Millsboro the fastest-growing town in the state’s fastest-growing county – Sussex County. 

“Millsboro has a pro-business attitude, and it isn’t just lip service,” says Burk, who grew up in nearby Lewes.

What attracted you to the field of economic development? 

I am a former Milford City Council member, and economic development was a paramount part of that role. When I joined the Millsboro team, I brought that mindset with me and hit the ground running. I am a member of the International City Managers Association and have completed Academy for Excellence in Local Government Leadership and the land planning certification through the University of Delaware’s Joseph R. Biden School of Public Policy & Administration.

What is the unique selling proposition for Millsboro?

We process annexations as fast as we can within state regulations. We understand time is money. COVID-19 did not affect our building permits, which are being processed in a timely manner. We outsource our certificate of occupancy and final inspections, so that helps us to be nimble.

What sectors are strong in Millsboro, and what sectors are you looking to grow?

Medical has become big here. TidalHealth is getting ready to bring a 150,000-square-foot medical campus into town through an annexation process on former farmland. We’ve also had talks with Beebe Healthcare and other healthcare systems.

In agribusiness and pharmaceuticals, Merck has two locations in town [in research and development and manufacturing], and they are in the middle of a large renovation and increasing their footprint.

M&T has a large call center in town. We are continuing to grow the medical, pharmaceutical, and banking sectors, as well as retail.

What have businesses found most appealing about Millsboro?

If someone is interested in coming to town, buying a parcel or talking about a business idea, we can quickly set up a meeting and have all of the major players at the table.

What is the advantage of promoting an area in the United States’ second-smallest state? 

The size of Delaware is a considerable benefit, and networking is so important. I can pick up the phone and reach someone at the county or state level. That doesn’t happen in a larger state. Contacts and relationships matter. I’m on a first-name basis with many legislators. 

When you were young, what did you want to be when you grew up?

I have always loved history and saw myself teaching.

What did you study in college?

I earned a history degree from the University of Delaware with a heavy focus in American history and philosophy. 

What was the last book you read?

“Legends and Lore of Lake Ontario” by Susan Peterson Gateley, a Christmas gift from my mother.

Whom do you admire?

My parents. My brother was born with serious medical issues, and for the last 42 years, they have stepped up to be supportive advocates for him.

What advice would you give someone considering a career in economic development?

Number one: Be an excellent listener. Don’t just hear the people around you. Absorb what they say and try to understand their point of view. Secondly, be nimble and well-rounded. My experience in the private and public sector and time on the planning board and city council have helped me analyze situations to find an outcome that is mutually beneficial to all parties involved.

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May 10, 2021 –

In 2000, Charuni “Char” Patibanda graduated from Tower Hill School and left Delaware for Los Angeles to study at the University of Southern California. After earning her bachelor’s and master’s degrees in economics, she spent a few years working as an economic analyst before she headed to Atlanta to complete a juris doctorate at Emory University Law School.

Following law school, she returned to L.A. to work as an attorney focusing on regulatory and administrative law and land use. After practicing law for seven years, she decided to venture out to start her own business. In 2019, she opened The McOsker Group with her former boss and mentor, a government affairs consulting firm that represents clients in municipal policy and economic development projects in sectors such as media/entertainment, healthcare and hospitality.

Despite two decades away, though, she was never a stranger to Delaware.

“During the time years I was building my career, I came back to Delaware a lot,” she says. “This is where I grew up. This is where my family lives, and I’ve always felt at home here.”

When a homegrown opportunity arose in her area of expertise, that connection evolved into a homecoming. Earlier this year, she became the economic development director for New Castle County, the northernmost and most populous county in Delaware. She now leads the county’s work to strengthen the innovation ecosystem, including prioritizing new job creation through entrepreneurship, supporting startup companies and existing small businesses and providing a predictable land use planning process.

When you were young, what did you want to be when you grew up?

My parents wanted me to go to medical school, but they also encouraged me to be active in my local community and stay on top of what policies were affecting us. That’s how I became involved in public policy and had a desire to work in public service.

What attracted you to the field of economic development?

When I was a practicing attorney, I would work on projects that brought economic development to communities. Knowing that a project, which if approved by the local authorities, would result in good-paying construction jobs and then ultimately be the creator of more permanent jobs or housing, was very fulfilling. I felt these projects added value to society.

Governments can leverage assets like airports, land and ports to work with the private and nonprofit sectors to create incredible projects for the community that can result in revenue streams or provide amenities. Economic development involves a legal background as well as creative thinking. You are essentially acting like a broker between the private sector and the government and the community.

What is the unique selling proposition for New Castle County?

One of the main advantages is that the government is very proactive in assisting businesses in navigating the land use process. Everyone works together to bring projects forward that will better our communities.

A big benefit — especially as someone coming back from the West Coast — is the cost of living. The location is unbeatable with the proximity to Philadelphia, New York, Baltimore and Washington, D.C. There’s everything you could want up and down the coast – and there’s no sales tax.

What sectors are you looking to grow in New Castle County?

I would like to see more entertainment and recreation venues and businesses that add to the quality of life to make it even more attractive for people who want to live here and to companies that want to locate here.

What have businesses found most appealing about New Castle County?

The permitting and approval processes are far less arduous than in most other jurisdictions. Companies won’t have the delays they might in other states. 

What is the advantage of promoting an area within a small state?

At the end of the day, we’re three counties but one great state. All of the projects are for the betterment of the state and the people who live in it. That’s what matters the most.

What is the last book that you read?

I’m reading “The Color of Law: A Forgotten History of How Our Government Segregated America” by Richard Rothstein. It’s an eye-opening book that talks about how governments have created policies that are just systematically racist, from federal to state to local. That’s something that touches my heart very deeply, and it’s not something I want to perpetuate as a public servant. 

Whom do you admire? 

I admire leaders who have been able to deliver results for their communities. Closest to me is my dad, who has dedicated all his time to creating a Hindu Temple and helping to serve the growing Indian Hindu population in Delaware, and my former business partner, Tim McOsker.  

What advice would you give to someone considering a career in economic development?

If you are considering a career of economic development, study planning and land use. My land use background has been very beneficial to my understanding of the use of land for various projects. Every jurisdiction is different, but the concepts are the same. When I started my current job, I was excited to assist with the comprehensive plan, which was well on its way. But I already knew what it was and about the different elements. I could participate right off the bat.

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May 7, 2021 –

In early 2020, businesses throughout Delaware, and around the globe, braced for what would become a worldwide pandemic. Andrew Cottone, PhD, President of Adesis, Inc., realized early on that his company, like so many others, was in for a marathon, not a sprint.

Cottone’s primary mission for Adesis, a rapidly growing contract research organization (CRO), was to keep the team safe.  His meticulous attention to employee safety enabled business continuity and has positioned Adesis to exit the pandemic stronger than when they entered it. “Our focus on keeping people safe — and growing the company — during COVID-19 is a tribute to everyone at Adesis,” Cottone said.

Upshifting and Downshifting through the Ebb and Flow of COVID-19

Adesis is a fully U.S.-based CRO, nationally recognized for turning difficult whiteboard chemistry concepts into physical products. It’s also a growing chemical manufacturer and an R&D chemical company. Cottone refers to Adesis clients as a Who’s Who in pharma, biotech, material science, agriculture, ophthalmology and virtual biotech.

The New Castle-based company found itself upshifting and downshifting in 2020 through the ebb and flow of COVID-19. They scaled down from four shifts and 16-hour days seven days a week to three shifts and 14-hour days five days a week, then back up again.

Working remotely wasn’t a feasible option for most of Adesis’ now approximately 140 lab-based employees and contractors (the company surpassed its Delaware Strategic Fund Grant goal to reach 120 employees by the end of 2020). Being in a chemistry lab though, may be one of the safest places to work in a pandemic. 

As scientists, the team’s standard lab attire already included Personal Protective Equipment (PPE) such as goggles, lab coats and gloves. Masks were added to complete the COVID-19 ensemble.

Lab environments require sophisticated HVAC technology, so Adesis was already ahead of the curve. They rebalanced the filtration system to increase air flow and change over the air every five minutes instead of every ten. They hired on-site nurses, staggered shifts, instituted nightly cleanings, practiced mock decontaminations and engaged Delaware’s own ChristianaCare for virtual employee check-ins.

Adesis even produced its own hand sanitizer and made it readily available — along with masks — to employees and their families. They also donated hand sanitizer and masks to first responders.

“Doing all of this fit our mission and, quite simply, it was the right thing to do,” said Cottone. “Adesis is so much more than doing research and running a great chemistry operation. We take care of one another.”

6 Ways Adesis Grew During the COVID-19 Pandemic:

What may have set Adesis apart in its approach to ensuring business continuity in the midst of a pandemic was its CV-19 Leave Code. If an employee was concerned about coming to work due to anything associated with either the biology or stress of COVID-19, they had the option to stay home — with pay.

“COVID-19 was, and still is, as much a psychological event as a biological one,” Cottone believes. “We didn’t want any of our employees to worry about job security on top of health needs. We wanted our people to feel comfortable coming in to work knowing that Adesis was listening and doing everything possible to help them stay safe.”

Instead of seeing the leave code as an “opt-out” policy that permitted people not to come to work, Adesis employees embraced it as an “opt-in” benefit that made people want to come to work because of the safeguards and support that were in place – and it worked. At no time during the pandemic did Adesis attendance drop below 91%. They are now back to full staff participation.

“Our folks opted-in in overwhelming numbers,” Cottone said.

By ensuring an environment where staff felt comfortable coming to work, not only was Adesis able to maintain business continuity, they grew. Adesis serves as the de facto extended research arm of its parent company, Universal Display Corporation (Nasdaq: OLED), as well as for partners in both pharma and biotech whose labs were closed while Adesis remained open.

The Speed of Delaware

“Delaware is a great place for chemistry,” said Cottone of the state’s intense concentration of PhD and advanced-degree scientists. “I like to call it the DNA of Delaware. A nimbleness and can-do attitude, coupled with talent and skill set to solve next-generation problems.”  

A few years ago, Adesis was able to build and implement 5,000 square feet of lab space in just six months thanks to the speed of Delaware, facilitated with help from Delaware Prosperity Partnership and permit collaboration by the state, New Castle County Government, OSHA (Occupational Safety and Health Administration) and DNREC (Delaware Natural Resources and Environmental Control). 

That support also made it possible for Adesis to move into the Delaware Innovation Space at the Experimental Station just six weeks after signing a contract — and that timeframe included the busy season between Thanksgiving and the end of the year. 

“That’s the 21st century speed of Delaware,” said Cottone. “The speed of Delaware works well with the intensity of Adesis, where we like to move faster than anybody else.”

And then there are Delaware’s advantages as a great place to live, work and play.

“The lower cost of living without compromising quality is what I love about Delaware,” Cottone said. “Our children are getting a great education, there are plenty of outside activities and easy transportation by road, train or air to get where we want to go. Plus, we have beaches and ‘almost’ year-round golf!”

Consistency, Transparency and Ability to Act Rapidly

While the past is full of valuable lessons, Cottone spends his days thinking about where Adesis is headed. Thanks to their success in navigating COVID-19, the company has a strong business continuity plan in place to face future challenges — which his team regularly reviews and updates.

“The COVID-19 pandemic has impacted the world we live and work in. In a blink of an eye, we had to adapt to the changing environment around us,” he said. “Consistency, transparency and the ability to act quickly. It worked, and we would do the same again.”

What’s next for Adesis after safely growing during a pandemic?

“For starters, more manufacturing in Delaware,” said Cottone. 

That anticipated growth will be guided by the company’s new Chief Operating Officer, Helen Stimson, past president of the Delaware BioScience Association. Cottone said Stimson’s business acumen nicely complements the company’s scientific acumen and places Adesis on a trajectory to increase scale and quality. They also plan to expand into specialty chemistry with larger reactors to better serve clients.

Cottone joins Delaware’s delegation in supporting the move of local chemical supply and feels it is imperative for companies like Adesis to answer that call in preparation for the possibility of a future pandemic.

“Keep an eye on Adesis,” said Cottone, who believes that the next five years will be a great growth story for the company. “We are committed to growing, and we plan to do it here in Delaware.”

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April 12, 2021 –

On the University of Delaware campus, College Avenue runs past red brick buildings and into downtown Newark. There is a College Avenue near both Swarthmore College and Pennsylvania State University. But the path to higher ed extends beyond the maps of university towns.

College Ave Student Loans is a Wilmington, Delaware-based private lender offering loans for undergraduate and graduate education. The company’s name tells it like it is. “We wanted to leave no confusion as to what we offered,” explains Joe DePaulo, CEO and co-founder, who understands that most people shop for loans online. 

The company, founded in 2014, has carved out a niche in the marketplace. The website’s user-friendly interface boasts easy-to-understand language and graphics. As a result, College Ave simplifies what many view as a complicated process. 

The approach has been a success. While DePaulo won’t disclose how many customers College Ave currently serves, he shares that the figure has six figures. 

Today, the company has more than 60 employees. And in many respects, College Ave represents the next wave of businesses in Wilmington’s celebrated financial sector.

College Ave Born in a Financial Hub

The student loan industry is a small sector in and of itself, especially when compared to car and home loans and credit cards, DePaulo notes. 

There are two sources: federal and private loans. The former provides the bulk of Americans’ student loans. However, these funds rarely cover all of the costs. About 10% of student loans are from private lenders, DePaulo says.

In either case, applying for a loan is a jargon-laden process that does not become more familiar over time. While people may apply for a car or home loan throughout their lives, most only need a student loan for themselves or their children. DePaulo noted the complexity while filling out his student loan papers — and he’s well-versed in finance.

The Scranton, Pennsylvania, native previously worked for MBNA, the credit card giant purchased by Bank of America in 2006. After leaving MBNA, he started his own consumer finance company, which was acquired by Sallie Mae. As the CFO of Sallie Mae, DePaulo helped engineer the spinoff of Wilmington-based Navient.

DePaulo saw the opportunity. What if a private lender took the stress out of securing a student loan? 

“We decided that we were going to focus on keeping the process simple, transparent and clear to allow the customer to feel like they have more control over the process and allow them to personalize the experience,” DePaulo explains. “We really are the only player in the industry that approaches the loan this way.”

Building a Customer Base

Having an idea is one thing. Marketing the service or product is another. College Ave covers the bases, including direct mail and digital marketing. Company representatives also build relationships with colleges that provide lender lists. 

Admittedly, any loan can lead to a negative experience between the parties if the customer does not repay it. College Ave works to nip that in the bud. 

“We try to prepare the customer as much as possible,” DePaulo says. “We emphasize that you are not borrowing money to go to college. You are borrowing it to get a degree — an asset you can use for the next 50 years. We keep reinforcing graduation, graduation, graduation.”

College Ave urges customers to consider their monthly payment after graduation.

“Believe it or not, that’s more important than SAT scores,” he says. “I know the exam scores are important — they get you into school. But the loan gets you through school and gets you out.”

The company also recommends that students begin paying back their loans while still in school. 

At Home in Delaware

Since DePaulo has been in the financial sector throughout his career, Delaware has been an excellent place to live, he says. But there are other reasons why he likes the state. 

“If you want an acre of land, you can have an acre of land,” he says. “If you want 10, you can have 10. You can live in the city, suburbia or a rural area. Travel is easy. Our mayor is friendly. Our governor is friendly.”

As the company grows, it will continue to reside in Delaware, partly due to the workforce. “Almost everyone in the company has come from the credit card industry, student loans or both,” he says. “The skillset for the credit card industry is the same skill set you need for student loans.”

He plans to add up to 20 more people in the next five years. “We try to give them a lot of responsibility,” he says of the team. “We recruit outstanding people, we compensate them well, and we keep them informed so they can make the company a bigger, better place.”

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