Author: Delaware Prosperity Partnership

Biotech Leaders Answer the Question “Why Delaware?”

A Delaware Institution on the Business Benefits of Delaware

4 JUNE, 2019

June 3 marks the day DowDuPont was officially laid to rest, and DuPont rose again.

Actually, it’s a lot more complicated than that, but the long-planned DowDuPont “three-way-split” means that Delaware has a “new” DuPont Company focusing on science and innovation products (including clean water tech and smart electronics) and a new agriscience company, Corteva, both with headquarters in Wilmington.

(DuPont’s former chemical branch, Chemours, is still based in Delaware, with brand-new construction going up on the University of Delaware STAR Campus in Newark.)

The two companies currently have about 100 job openings in Delaware, and that’s expected to rise by quite a bit post-split.

As it happens, June 3 was also the kickoff of the international BIO2019 in Philadelphia, and DelawareBio hosted the Biotech Ecosystem Tour, starting at Incyte in Wilmington and ending at the STAR Campus.

Some of Delaware’s biotech leaders — including Christiana Care Health System CEO Janice NevinIncyte CEO Hervé HoppenotAdesis CEO Andrew Cottone and LabWare CEO Vance Kershner, along with Delaware Secretary of State Jeff BullockDelaware Prosperity Partnership CEO Kurt Foreman and Delaware Innovation Space CEO Bill Provine — participated in a panel as part of the event.

The big question: Why should biotech companies choose Delaware?

“Delaware is small in size but big in spirit,” said Hoppenot, whose cancer pharmaceutical company (which unveiled its new global headquarters on the former site of Wanamakers on Augustine Cutoff in 2017) has hired about 1200 people over the last couple of years. “It’s near Penn and Johns Hopkins. The talent is here.”

And, while Delaware’s proximity to Philadelphia, New York and Washington D.C. is considered a draw for all kinds of industries, when it comes to biotech, that advantage is magnified.

“Washington to New York is the new ‘Innovation Corridor,’” said Nevin, “and we’re right in the middle of it.”

And our neighbors are not the competition, as the industry in the region often works together.

“It would be different if we were an island,” said Foreman.

Some advantages call back to the state’s DuPont legacy.

“There are a lot of “retired” scientists in Delaware helping companies get things done,” said Kershner. “You won’t find that anywhere else.”

Cottone’s phrase “Delaware moves at the speed on entrepreneurship” made an impact on the panelists, who agreed — the entrepreneurial ecosystem for biotech is fast-moving, from fast-turnaround funding to speedy access to wet labs and work spaces.

The state has strong legislation that protects intellectual property, an Angel Investor’s Tax Credit and EDGE grants for small businesses.

“We’re not a backwater town,” said Secretary of State Bullock. “We can run with the big dogs.”

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Delaware: Ideal for Foreign Direct Investment

Delaware: Ideal for Foreign Direct Investment

4 JUNE, 2019

More than one million companies from around the world choose Delaware as their legal home. That includes two-thirds of Fortune 500 companies. Here are just a few of the reasons why.

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Stop by the Delaware Booth at BIO 2019

Stop by the Delaware booth at BIO 2019

4 JUNE, 2019

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Biotech Institute Expanding to New Space on STAR Campus

Biotech Institute expanding to new space on STAR campus

22 MAY, 2019 | DELAWARE BUSINESS TIMES

The Delaware Biotechnology Institute will expand into 70,000 square feet within the new six-story, $160 million Biopharmaceutical Innovation Building on the STAR Campus next February.

The building, which includes labs, offices, collaborative space, and shared research instrumentation facilities, will be the home of the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL), a UD-led coalition of 150 companies, educational institutions, nonprofits and state governments.

Biopharmaceuticals are prescription drugs made with living cells.

“We need more space to support the expanding needs of life science researchers across campus,” said Dr. John Koh, the interim director of DBI and a UD professor in chemistry and biochemistry. “We’re not abandoning our current site, but expanding and moving our core facilities to support current and future initiatives on STAR campus. There’s an enormous difference between office space and wet research space. Being in the new building will also help us support the new NIIMBL program.”

The Delaware Biotechnology Institute is a magnet for life-science research and development. The institute supports multidisciplinary, collaborative research at all of Delaware’s research organizations, including the University of Delaware, Delaware State University, Christiana Care Health System, Nemours/A.I. duPont Hospital for Children, Wesley College, and Delaware Technical and Community College.

The Institute houses research laboratories with scientists, students, and faculty working on projects related to agriculture, human health, and energy and the environment and also makes available high-end instrumentation facilities to Delaware’s entire life-science community. DBI researchers are focused on advanced sequencing technologies, imaging technologies, and computational capabilities.

NIIMBL is funded through a $70 million cooperative agreement with the National Institute of Standards and Technology (NIST) in the U.S. Department of Commerce and leverages additional commitments from partners.

Koh said the new building will be occupied by UD faculty from four colleges and will help faculty and staff that will help launch a new program in pharmaceutical sciences at the university. The Delaware Biotechnology Institute will take a little over two floors of the six-story building besides the 70,000 square feet it has in its current location at 15 Innovation Way.

This article was originally posted on the Delaware Business Times at: https://www.delawarebusinesstimes.com/biotech-institute-expanding/

Kurt Foreman

PRESIDENT & CEO

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Register for the BIO Convention & Sign Up for the Delaware Tour

Register for the BIO Convention & sign up for the Delaware tour

22 MAY, 2019

Here’s your chance to be a part of the most respected forum for the transformative field of bioscience.

Attend to:

  • Join 18,000+ global business development leaders from 7,000+ companies
  • Be a part of 45,000+ BIO one-on-one partnering™ meetings in just 3.5 days
  • Attend 18+ session tracks, 250 company presentations and start-up pitches
  • Network with 1,800+ exhibitors, specialty pavilions and zones—plus top CRO’s and CMO’s
  • Sign up for the Bioecosystem tour: Delaware – Where the World Comes to Do Business

Be part of the international forum that connects the most talented professionals in bioscience from around the world.

You can access convention resources at the following links:

Please continue to visit our site for more details as they become available. In the meantime, be sure to mark your calendar with these important dates for BIO Philadelphia June 3 – 6, 2019.

For more information contact Ariel Gruswitz 302.576.6565

*New* Information on Delaware’s Bio Ecosystem Tour

Delaware – Where the World Comes to Do Business
Monday, June 3 10:00 AM – 4:00 PM

Participants on this tour will learn from top experts in industry, academia and government about the various opportunities Delaware has to support potential companies. This tour will feature stops at Incyte’s new corporate headquarters, University of Delaware STAR Campus- Delaware Tech Park at STAR incubator, the College of Health Sciences and the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL).

Industry, academia, and government interested in learning about Delaware’s knowledge-based assets, interdisciplinary collaboration and inclusive innovation communities should attend this tour.

The tour will begin with information on Delaware’s unique value proposition in the life sciences and related industries (en route to Wilmington).

First stop: Incyte’s new corporate headquarters for a panel discussion on the benefits of doing business in Delaware. We will highlight (via key leaders in our scientific and government community) why more than 65% of all U.S. companies incorporate in Delaware; tax incentives; Opportunity Zones; incubators and the support we provide to entrepreneurs. Our small size allows us to be nimble and provide “concierge” support to our companies.

Next stop will be the University of Delaware (UD), including lunch at STAR Campus: a live-work-learn, Opportunity Zone community transforming the regional innovation landscape, including:

  1. Delaware Tech Park at STAR incubator, a full-service incubator that works in collaboration with the Small Business Development Center (SBDC) and UD to support startups.
  2. The College of Health Sciences, the nation’s #1 Physical Therapy school, which has a unique integration of clinic, academic research and industrial start-ups.
  3. National Institute for Innovation in Manufacturing Biopharmaceuticals is a consortium of 150+ partners to improve the manufacture of biopharmaceuticals and address workforce development. “NIIMBL” is one of 14 national institutes in the Manufacturing USA network, designed to increase U.S. competitiveness in manufacturing.

The tour will include a brief presentation from the Dean of College of Health Sciences and the Director of NIIMBL. The bus will depart at 3 p.m. and arrive back in Philadelphia by 3:45 p.m.

Tour Organizer: The Delaware BioScience Association is a trade association with a mission to catalyze growth of the life science industry in Delaware. The Delaware Prosperity Partnership is a public-private partnership that is the state’s lead resource to attract, retain and grow businesses; build a stronger entrepreneurial and innovation ecosystem; and support private employers in identifying, recruiting and developing talent in Delaware.

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Wilmington Becoming a Tech Hub

Wilmington becoming a tech hub

16 MAY, 2019 | DELAWARE ONLINE

There’s a huge demand for technology professionals — and for good reason.

Almost everything about our behaviors as consumers is changing, becoming more digital, meaning that the companies that serve us have to become digital as well.

At M&T Bank, we recognize that organizations need to be adaptable in order to find success in the future, a change largely driven by technology.

We recently announced plans to hire hundreds of professionals in Delaware in the next few years, including about 200 technologists. Our goal is to make Wilmington a destination for tech talent, and we plan to embed our new tech hires with all the other employees driving the growth in our downtown offices.

Choosing Wilmington was no mistake. Wilmington offers businesses like ours a unique opportunity to work with local government, higher education, non-government organizations, startups, and other private corporations to create a unique ecosystem conducive to the very tech talent hub we are working to build.

Plus, it doesn’t hurt that Wilmington offers a lower cost of living and stronger sense of community when compared to the top-tier cities competing for the very same tech talent.

So we asked ourselves, how can M&T Bank be part of the solution in cultivating and bringing tech talent to Delaware? To put it simply, we saw an opportunity to bring our use of technology in-house and place it within the communities we serve.

We think this gives us an edge in differentiating our products and services, but it also challenges us to build a strong tech community in Delaware.

To create alternate pipelines for hard-to-find tech talent, we will establish a technology development program in partnership with higher education institutions such as the University of Delaware and other colleges. We have also committed to partnerships with programs such as Zip Code Wilmington, which coaches motivated people from diverse backgrounds into skilled, professional developers.

Kurt Foreman

PRESIDENT & CEO

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10 Questions With Kurt Foreman, CEO of Delaware Prosperity Partnership

10 Questions With Kurt Foreman, CEO of Delaware Prosperity Partnership

15 MAY, 2019 | DELAWARE BUSINESS TIMES

Kurt Foreman joined the Delaware Prosperity Partnership in March 2018, about seven months after Gov. John Carney signed legislation committing to a new way of doing economic development. Foreman came to Delaware from Oklahoma City, where he held a similar role. He was the Delaware Prosperity Partnership’s first W2 employee and has built what he describes as “a small team” with 10 people (with one more slot to hire). During a wide-ranging interview with the Delaware Business Times, the 55-year-old Foreman talked about having to hit the ground running and build up the agency at the same time. This interview has been edited for length and clarity.


What’s been your biggest challenge so far?

I think the challenge for me was having an impact and starting to move the ball while we were still getting processes in place. That’s the challenge of any startup in many respects. My job and our job as a team is to listen to what prospects want and need, marshal resources, to pull people together, to be a convener, a facilitator, a connector. When a company starts looking at Delaware, our job is to listen first, not to answer all their questions in isolation. We immediately start connecting them to partners and people.

The good news is some of the networks that were maybe more nascent are in place now. We know our partners and have gotten the word out to site selectors who help companies evaluate and assess communities for a project. We want to make sure those folks know that we’re here and that there may be value considering us. Our prospect activity is about 10 times higher than it was when we started last April. Early on, we talked to site selectors and took the governor up to meet media and site selectors. What we heard surprised me a bit: People knew of Delaware but hadn’t looked at us in a long time. Some said, I looked at you 10 or 15 years ago and it wasn’t a great experience. We told them that if it’s been a really long time, things may have changed. As our prospect activity shows, we are back on the list. It’s an ongoing process and dialogue. We’re seeing more and more folks and now we’re getting a shot at projects. That was our biggest “competition:” Not our neighbors, but whether we even got a shot to compete for a project.

The message on your new ChooseDelaware.org website says, “Where the world chooses to do business.” Did your branding or narrative change?

Yes, our marketing strategy helps highlight Delaware’s value proposition; enviable location, affordable cost of living; access to talent and leaders across the continuum, business-friendly culture and its rich history of innovation. In collaboration with our partners, we are shining a light on where there’s transformation and momentum, that’s where there are opportunities in Delaware. DuPont is a great example; it is now four vibrant companies. We’re not a museum, we’re a living place. Things are going to change and evolve. But people need to be continually updated so they don’t have a static picture of what we are. We have the location we’ve always had; we’ve got the connective tissue that we’ve always had. We’ve had good public and private leadership for years, so I think all the tools are there. We are now consistently telling the story of what Delaware has to offer to site selectors and others. Some people have told us Delaware has a great product, but we whisper about it. Well, I have a loud voice literally and figuratively and we’re going to be using our outside voices to make sure Delaware gets consideration.

Are you seeing an interest or a greater interest in lower Delaware?

We let the company drive the process. If they tell us they want to be within 20 minutes of the airport and Philly, then that limits where we look. If they say they’re open to the entire length of Delaware, then that’s what we help them with. I like that there’s a lot of different communities with different flavors. I think that mosaic is much more real and natural than if we just mush it all together and make it a single flavor. In the early stages of our activity, right or wrong, companies have mostly looked at the top part of the state. We think as we get more and more into our proactive efforts, that mix of projects is going to change as we look for companies that might be more interested in areas that aren’t just north of I-95 or along the I-95 corridor. I think the signs are good for Kent and Sussex. People are hungry for talent now and they’re going to go where the talent is. If we can demonstrate that the talent is in those two counties, companies will be more open and interested to learn more and
go there.

What is our strength from a talent standpoint?

For me, I think it’s the know-how. We’re not the fastest growing place, but we are growing quite healthily for our region. Whether it’s having a very high percentage of college graduates and Ph.D.’s and a relatively high percentage of people with high school diplomas, I think that’s reassuring to a company. I can figure out pretty quickly with companies that are not household names — normally in the first hour of a conversation — whether I’m meeting with someone from MBNA, First USA, DuPont, or Hercules because they’re likely to be involved. And those folks are leaders; some of them are instigators or maybe they’re starting the company. 

I also think we sell ourselves as an island sometimes. The reality is there are a lot of people who work in Delaware but live elsewhere. We want our share of the workers in the region living and working in Delaware. But if people are willing to work in Delaware while living in Chester and Delaware and Salem and Cecil and Princess Anne counties, those are legitimately part of our talent pool. They just happen to live across a line that we’ve drawn, but they’re just as good and potential employers. And they may choose to move into Delaware once they get established in their new role.

There seems to be a lot of people who do economic development in this state a lot. Do you find yourself bumping into a lot of people?

Actually, our partners are an important resource in the process. We would have to have a staff of 150, if we tried to do all the things that people consider economic development. It would be very unwieldy. From the Partnership’s perspective, we might provide the research to back up someone else who’s the front line on something. We don’t have to always be the first square or in the driver’s seat. We frequently are, but we don’t have to be for it to work well. We have new protocols that we created in concert with our partners to support the collaboration. It supports the idea that if you’re taking lead on the project, we will support you and work with you on that. If we’re working it, we would ask you to do the same with what we’re doing and provide that support. DPP has started having partner meetings with all the players — and there are about 20 of them — and it’s an opportunity for everyone to share top-of-mind stuff, to talk about what’s keeping them up at night and who can help. We take that word partnership very seriously. 

What keeps you awake at night?

There’s always more to do; for me, I’m running through my list in my head. It’s not that I worry about something bad; It’s more there’s just always more to do. Because we’re a living, organic place and we’re building a team, we’re building momentum. So, there’s always something to do, which is good. That’s why this is fun. We’re never going to hit a place where we can just hang out and wait. We’re being proactive; there’s always something we can do.

Are you drinking from a firehose?

Always, but that’s fun. Learning new places and getting to understand the product and the people. This is interesting work because there are people involved. It also makes it challenging, but the people are part of the special sauce. And helping to convey that to a company who’s trying to decide where they want to locate and engage with people, whether it’s five or 5,000 people or 50,000, in the case of HQ2 (Amazon) a couple of years ago. That’s an important thing to understand. And so, it’s fun to get to meet the people and understand the character, again, of the communities. Communities, plural. We’re not just a single community, we’re a whole bunch of interesting places.

Do you think states and economic development agencies should be bidding heavily to attract projects like that?

First, it’s important to note that we’re not the keeper of the incentives. We facilitate. We’re the shuttle diplomat that runs back and forth. We make it simple for the company to understand what’s possible. Communities don’t always reflect on who they are and what they want to be. They just see something, and they want that next thing. It’s a great project. Does it fit the place? It may or may not. Amazon had 200-plus responses, and there were probably only 50 or 60 that technically met all the criteria. I have a friend who runs economic development for Virginia, Stephen Moray, and he’ll tell you that they only gave away a portion of the future benefit that’s coming to that community. And most of the incentives they put in place, including helping Virginia Tech build a $1 billion new campus in Northern Virginia, will be there whether Amazon is a name 50 years from now or not. They’re investing in themselves and that’s going to bear fruit for everyone.

Incentives are often misunderstood. You’re not taking the money out of a bucket under the desk. There is no bucket under the desk. In most communities, they’re offering a share of the future economic activity that will come from those projects. The same thing happens with incentives in Delaware and I don’t know that we’ve ever offered even close to the whole amount of benefits coming to the state. The good news is, most incentives are set up on an equal playing field. If you’ve been here a long time and can add 100 jobs and invest $50 million, you’re eligible for an incentive too. I think a lot of people [focus on] who’s new, rather than that they’re growing after 50 years. We’re just as excited about that. 

Some people say that the time it takes to get a project approved is a barrier. We brought in some site selectors last October who told us you have to move at the pace of the business. If a business has to forgo serving a customer because it took longer than they expected, you’re adding risk to their project. You have to be able to say it’s going to take X months and then deliver in that timeframe. But if you say it could take six months or it could take six years — and I’m being dramatic on purpose — you have to realize that someone who can provide more surety may be appealing, even if it’s not as good a place. We had developed a reputation in some people’s minds that we were not reliably able to give people a sense of how long approvals might take. So, the Delaware and Six idea evolved from a site selector saying if a company can’t get up and running in 6-12 months, then that’s going to be a problem. There’s a group being led by Bob Perkins at the Business Roundtable that has turned this discussion into a thoughtful process to review how we do things and then make recommendations on how we can improve the way prospects experience Delaware. If we were can show someone that it’s already in, that would be ideal, but we don’t have the money to go out and run sewer and water everywhere on the assumption that someone will want that piece of property someday. We need to do it smartly. If the community can say we analyzed that and it’s going to cost $600,000 and take eight weeks to put in; we’ve already thought about how to fund it when it’s needed; and we’ve already designed it, great. You de-risked that piece of the project.

What does success look like for you in 2019?

In ‘19? More projects happening, an increased awareness and positive regard among site selectors that Delaware is somewhere that they should be looking at even more seriously than they may have in the past. And that the partnership networks and the tools we have at our disposal are built out and available for us to use. And I think having sort of the next plateau, the next mountain top experience to say we really are making a difference. That’s what I think we’re going to see in ‘19. We’re working on the metrics that will help us demonstrate success. But there’ll be people in jobs, there’ll be company announcements, there will be hopefully enhancements to product and process, going on up and down the state. Again, economic development isn’t just wins and losses on the job front. Having a community in Sussex County enhance an industrial park and perhaps invest or have someone interested in their opportunity zone, those too would be a great outcome for 2019. 

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Delaware Taking the Lead in the Bioscience Sector

Delaware taking the lead in the bioscience sector

Showcasing its strength at the BIO 2019 International Convention

(Wilmington, Delaware) Delaware will showcase its distinctive strength in the Bio supply chain at the international BIO Convention in Philadelphia from June 3 to 6. More than 18,000 venture capitalists, scientists, researchers and start-ups from 70 countries are expected to attend.

Eric Kmiec, Ph.D., director of the Gene Editing Institute at Christiana Care Health System and a pioneer of the CRISPR system, is leading the gene editing section at the convention. In addition, 17 Delaware bioscience experts will serve as judges in the startup competition. Delaware will have an expansive exhibit, which will include space to facilitate one-on-one meetings.

This year, Delaware is offering a limited-capacity tour of the state’s bioscience capabilities to conference attendees. The tour will stop in Wilmington, at the headquarters of Incyte, the biopharmaceutical research company ranked by Forbes as one of the nation’s top 10 most innovative companies. At Incyte, the group will hear a panel discussion featuring Incyte’s CEO, Hervé Hoppenot.

After Incyte, the tour will head to the University of Delaware’s STAR campus in Newark. The former auto assembly plant now hosts a variety of high-tech science and research companies and offers more than 10,000 square feet of wet labs. STAR (which stands for Science, Technology and Advanced Research) is home to the nation’s highest ranked physical therapy degree program as well as NIIMBL (National Institute for Innovation in Manufacturing Biopharmaceuticals). It will soon be home to Chemours Global Research as well.

“Delaware has the fourth highest number of employed PhDs working in science, engineering and healthcare,” said Kurt Foreman, President and CEO of the Delaware Prosperity Partnership, the organization that manages statewide economic development for the state of Delaware. “Add to that its enviable location, low cost of doing business, and collaborative, business-friendly environment and you see why Delaware is becoming the go-to location for science and tech start-ups. Our 7th place ranking in the Milken Institute’s State Technology and Science Index underscored that Delaware is taking the lead in the bioscience field.”

“Delaware has a uniquely expansive array of bioscience businesses,” said Helen Stimson, CEO and President of the Delaware BioScience Association. “Unlike other states, Delaware’s strength is its focus on innovation and its rich diversity of bioscience companies, including precision instrumentation, consumables, recombinant proteins, monoclonal antibodies, contract research organizations and contract manufacturing organizations.”

About BIO
The BIO International Convention is hosted by the Biotechnology Innovation Organization (BIO). BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products.

BIO performs many services for members, but the most visible is the coordination of the BIO International Convention. The BIO International Convention helps BIO fulfill its mission to help grow the global biotech industry. The key benefits of attending the BIO International Convention are access to global biotech and pharma leaders via BIO One-on-One Partnering, exposure to industry thought-leaders with over 1,500 education sessions , and unparalleled networking opportunities with 18,000+ attendees from 70+ countries.

About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent in the state of Delaware. For more information, visit www.choosedelaware.com.

About Delaware BioScience Association
Formed in early 2006, Delaware BioScience Association (Delaware Bio) has brought together pharmaceutical and biotechnology firms, medical device manufacturers, agricultural biotech and chemical companies, research and testing companies, hospitals and medical institutions, and other organizations and related service companies, with the shared goal of expanding the state’s vibrant science economy.

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GT USA Wilmington Launches new Infrastructure Investments

GT USA Wilmington launches new infrastructure investments

3 MAY, 2019  THE MARITIME EXECUTIVE

GT USA Wilmington is on track with its first improvements at the Port of Wilmington after its first quarter managing the facility, according to its new CEO, Eric Casey.

“GT USA Wilmington is immensely proud to have received a 50-year concession to operate the port and to provide $600 million to upgrade and expand the terminal,” Casey said.

Improvement and extension of the dock and crane rail are under way, and these projects should be completed by this summer at a cost of $17 million. GT USA is also enhancing warehouse storage by increasing racking for palletized cargo.

According to Casey, the port will soon begin work on upgrading cargo throughput capacity from 350,000 TEUs to 600,000 TEUs, along with new capacity for roll-on/roll-off cargo.

Casey was appointed CEO of GT USA Wilmington LLC in October. He was previously vice president of Virginia International Terminals and an executive at Maersk Line. Casey spent 26 years with the U.S. Marine Corps, including roles in Special Operations, a National-Level Special Mission Unit and tours in Force Reconnaissance.

GT USA Wilmington, a subsidiary of UAE-based Gulftainer, signed a 50-year concession agreement last September to operate and expand the Port of Wilmington, Delaware, which has served shipping lines since 1923.

As part of the concession agreement, Gulftainer will invest significantly in the port by building a new container facility at DuPont’s former Edgemoor site. GT USA Wilmington also will establish a training facility for the ports and logistics industries, which is expected to train up to 1,000 people a year.

This article was originally posted on the Maritime Executive at: https://www.maritime-executive.com/article/gt-usa-wilmington-launches-new-infrastructure-investments

Kurt Foreman

PRESIDENT & CEO

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FMC Corporation

Success Story: FMC Corporation


Taking Science to the Next Level

FMC has hit the ground running at the Stine Research Center

When FMC Corporation acquired a portion of the DuPont Co.’s crop protection business in 2017, the Philadelphia-based agricultural services company moved its global research and development headquarters to the 515-acre Stine Research Center campus in Newark, Delaware. It is easy to see why. Not only does the former DuPont site have an experimental farm for testing, but it also has labs and offices, including an unfinished structure waiting for customization.

Over the next three years, FMC will put more than $50 million into the campus, which DuPont initially built in the 1950s.

“It will be a real showpiece,” says Kathleen Shelton, vice president and chief technology officer for FMC.

“Several hundred people a year tour our facilities, many of whom are customers. Seeing and understanding the scale in which we discover and test compounds – more than 65,000 a year – is pretty impressive. This campus demonstrates what we do as a Tier 1 agricultural company.”

The improvements will also facilitate FMC’s plan to invest nearly $2 billion in research and development through 2023.

A Legacy of Success

FMC Corporation dates back to 1883, when John Bean developed the first piston-pump insecticide sprayer. When Bean Spray Pump Company expanded, it became the Food Machinery Corporation, then the Food Machinery and Chemical Corporation and, finally, FMC.

The corporation is no stranger to Delaware. In 2012, FMC celebrated the 50th anniversary of its polymer plant in Newark, which was part of its health and nutrition business. Today, that plant belongs to DuPont as the result of an innovative exchange.

When DuPont and Dow Chemical Co. decided to merge, the European Commission cited antitrust issues regarding the combined agriscience businesses. FMC agreed to swap its health and nutrition business for a portion of DuPont’s crop protection business, which included the Stine Center and leading insecticides such as Rynaxypyr®, which targets a spectrum of major pests, including armyworm, and Cyazypyr®, which addresses a cross-spectrum of pests, including fruit flies. Dow and DuPont’s remaining pesticide and genetically modified seed businesses became Wilmington, Delaware-based Corteva Agriscience.

The transaction, which was the largest in FMC’s history, kept 500 positions in Delaware. Shelton, for instance, was once a DuPont employee. The state also gained jobs. In 2018, FMC consolidated about 60 positions from its Ewing, New Jersey, site to Stine Research Center and hired more than 25 new employees to continue to drive innovation. Additionally, FMC continues to selectively hire employees for the organization to ensure research and development has the talent needed to deliver for FMC.

“Every single person was offered a position at the Stine site, and the majority accepted,” Shelton says. “We moved scientists down to the facility so that we have the full complement of capabilities needed to move a molecule from the very beginning – the first time it was created or discovered by a scientist – to the point at which we commercialize it.”

FMC immediately began making improvements to the campus, but the most significant changes were yet to come.

The Delaware Council for Development Finance approved a grant for $1,642,500 from the Delaware Strategic Fund, which includes a $142,500 performance grant and a $1.5 million capital expenditure grant.

A Promising Future

“There’s a lot of scientific talent in this area,” she says. “The Stine Research Center is minutes from the University of Delaware, and we are close to major cities, which makes Delaware an attractive place for people, many of whom are relocating to work at Stine. As for the employees who relocated from New Jersey, one confided to visiting legislators that he liked living in Delaware.”

Shelton says people appreciate the low property taxes and no sales tax.

“The quality of life is high, the environment in which people live is lovely, the schools are good – there’s just a lot to be said about the benefits of working and living in Delaware,” she says. “What’s more, the beaches are just over an hour from Newark.”

FMC’s embrace of its community was reflected in a donation of nearly 165,000 personal protective equipment (PPE) masks to local health systems during the early weeks of the COVID-19 crisis in the United States. The company began to source additional PPE – which is used in its labs, greenhouses and production facilities – when the novel coronavirus began to spread from Asia in January. FMC ultimately provided 140,000 surgical masks and 24,500 N95 masks to assist frontline healthcare workers at Delaware’s ChristianaCare and Philadelphia’s Penn Medicine, Jefferson Health, Children’s Hospital of Philadelphia and Temple University Health System.

“A review of our PPE at key FMC sites around the world revealed opportunities to redirect some of those materials to locations in critical need,” says Brondeau. “We offer our thanks to the men and women who are working on the front lines at area hospitals. All of us at FMC are keeping them in our thoughts during these extraordinary times.”

After the pandemic is over, FMC plans to host an investor day at the Stine Research Center.

“We will demonstrate the strong capabilities that we have here at the site,” Shelton says, “and we will let the world know we have a global R&D site that is impressive and will provide new products for the foreseeable future, starting in 2021.”

Becky Harrington

DIRECTOR OF BUSINESS DEVELOPMENT

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M&T Commits to Tech Jobs, Other Roles in Delaware

M&T commits to tech jobs, other roles in Delaware

3 APRIL, 2019 | DELAWARE BUSINESS TIMES

M&T Bank and its Wilmington Trust subsidiary will hire hundreds of tech talent over the next few years, including 50 new “technologists” over the next nine months and reinforce its commitment to downtown Wilmington by housing them in a space that will embed technology teams with the people driving the growth of the bank’s business.

In addition, the bank hopes to fill more than 100 open positions in 2019 throughout the state — nearly half in Sussex County — as it continues to grow through all lines of business. It will also be establishing a technology development program at the University of Delaware and University of Maryland for professional positions and internships as well as filling jobs through partnerships with organizations like Zip Code Wilmington, which offers a 12-week coding boot camp with job placement assistance upon completion of the program.

The bank has quietly consolidated 130 employees over the past few months on two floors of the 10-story Wilmington Plaza building at 301 W. 11th St.

We need to be less dependent on outsourcing,” said M&T Chief Information Officer Mike Wisler. “Buying other people’s products mutes your ability to compete and create differentiated experiences.”

Wisler said M&T plans to add 1,000 technologists — software engineers and designers, UI/UX and web developers, database and cybersecurity experts, and technical team leads — over the next five years to its two primary technology centers in the company’s hometown of Buffalo, New York and in Wilmington, with Wilmington expected to get about 200 of those jobs.

The Wilmington Plaza building offers “puts everyone together, creating collisions that will allow us to operate at the speed of our competition,” Wisler said. “The physical environment plays a big role in our efforts to be transformational and agile. We’re trying to create a community [feeling] and align various initiatives with the bank’s mission, purpose, and vision.”

Wilmington Mayor Mike Purzycki praised the decision to locate the new jobs downtown as proof that “M&T believes in the city. It’s important because people look to the future to make financial decisions so when people make decisions like this to invest in the city, it’s great for confidence.”

Purzycki said he likes the idea of more people walking along Market Street shopping and experiencing the “grit, humanity and personality” of the city.

“Generally speaking, people love to be in cities. As long as you don’t scare them away for the wrong reasons, announcements like this demonstrate we can overcome” structural issues like parking and the wage tax, he said. “I want employers to tell their people that Wilmington is a great place to be. The more people who live here, the more things change.”

M&T Delaware Region President Nick Lambrow says the bank is moving toward an “integrated model with lots of initiatives that provide us with different ways to look at and serve our client base.”

M&T retained the Wilmington Trust brand for its wealth and institutional business after acquiring the bank in
2011. Wilmington Trust now employs about 2,000 people in 54 locations with a little more than half in Delaware, according to Executive Vice President Bill Farrell, who oversees the Wealth and Institutional Services Division.

“We’ve developed new products and grown market share across our businesses,” Farrell said, noting as an example that Wilmington Trust’s structured finance (securitization) business has increased its market share over the past five years from 1.3 percent to 16.9 percent to become the third-largest in that market niche.

“Adding these technologists to our team alongside our product managers will enable us to continue developing products like Wilmington Trust FastTrack, which makes it easier for our Merger and Acquisition Escrow business to get people paid more efficiently and WT Connect, which created a new front end for investors to self-serve in the structured-product area,” Farrell said.

“We take pride in operating much like a fintech in accelerating our speed to market,” Lambrow said. “We realize that our competition is no longer just large banks, and we’re of a size where we can act or react like a fintech.”

It’s generally accepted that there is an industrywide shortage of tech jobs, giving rise to organizations like Zip Code Wilmington and Year Up.

“It’s the scarcest resource on the planet with lots of competition. But we feel that our story is an advantage.
One big differentiator for M&T and Wilmington trust is that its size allows employees on both the tech and operations side to have an impact on our business. That may not be the case at a larger institution.

“University programs are not producing the talent we need so we have to create other pipelines while still making a meaningful investment in local universities,” Wisler said, adding that there is a growing opportunity to attract experienced professionals from the traditional big-city tech hot spots. “We are focusing on professional recruiting and relocation as we find lots of people from this area who would like to return.”

“It’s never been more important to create a sense of belonging and inclusion,” Lambrow said. “We still think of ourselves as a community bank and we’re committed to our branch system. But we must provide alternative ways to connect with our customers” who don’t need to come into the branch.

This article was originally posted on the Delaware Business Times at: https://www.delawarebusinesstimes.com/mt-commits-to-tech-jobs-other-roles-in-delaware

Kurt Foreman

PRESIDENT & CEO

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STAR Campus: Innovative, Award-Winning STEM Hub

STAR Campus: Innovative, award-winning STEM hub

A center for synergy in science, technology, advanced research — and business development.

3 APRIL, 2019

If Delaware is where the world comes to do business, the Science, Technology and Advanced Research (STAR) Campus at the University of Delaware (UD) is where the STEM world and the business world come together to stimulate innovation and employment opportunities in science, high-technology and health sectors.

Once home to a Chrysler auto assembly plant, the 272-acre site has been transformed into a live-work-learn, opportunity zone that Collaborating tenant companies accelerate research commercialization by leveraging UD’s internationally renowned expertise in science, engineering, business, public policy and entrepreneurship.

STAR offers unique access to highly sought-after talent, innovative research state-of-the-science facilities including incubation space and equipment in one of the most accessible locations in the United States, just steps from a new rail station and minutes off I-95, in the center of the New York City to Washington, D.C. power corridor.

Investment and Growth

With more than 1 million square feet of real estate in use and under active construction plus more than $0.5 billion of invested capital, STAR Campus has grown exponentially since it was acquired by UD in 2008. STEM organizations and investors can benefit from tax credits and incentive programs that encourage innovation and job creation in Delaware.

In March, STAR Tower, a 10-story innovation hub with state-of-the-art classrooms, labs and high-tech business partners, was featured on USA Today’s list of amazing university buildings.

Chemours, a Delaware-based global chemicals company has invested $150 million in the development and construction of the Chemours Discovery Hub on the campus. This 312,000-square foot research facility will be home to 330 researchers and technicians, and an important center for talent development, when it becomes operational in 2020.

Also on the campus is the Delaware Technology Park, a full-service incubator working in collaboration with the Small Business Development Center (SBDC) and UD, featuring flexible, state-of-the art incubation space and access to the resources startups need to drive and accelerate economic success.

Also contributing to the culture of synergy and innovation that exemplifies STAR Campus are the UD College of Health Sciences, the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL), Bloom Energy, a zero-emissions vehicle test laboratory, and a performance computing company.

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