Delaware’s Role in the Global Economy

Delaware, known for its business-friendly policies and prime location, holds a pivotal position in the global economy. As a hub for corporate activity and innovation, the state’s impact extends far beyond its borders. With a strong connection to major metropolitan areas like Philadelphia and Washington, D.C., Delaware benefits from access to world-class infrastructure, research institutions, and a highly skilled workforce.

A Global Business Destination

Delaware has long been a preferred destination for businesses to enter the U.S. market, with over 68% of Fortune 500 companies incorporated in the state. Its robust legal framework, highlighted by the renowned Court of Chancery, offers businesses the stability and predictability needed for international operations. These factors make Delaware a critical player in global commerce, attracting foreign direct investment and fostering economic growth.

Delaware’s close ties to major economic hubs such as Philadelphia and Washington, D.C., enhance its accessibility and influence in global markets. Philadelphia International Airport (PHL), which served 28 million passengers in 2023 and offers 123 nonstop destinations, provides critical access to international markets. PHL also ranks as the 8th best airport globally for on-time departures, ensuring efficient travel for business leaders and global partners. Delaware’s access to PHL makes it easier for international companies to visit and maintain strong business relationships. Additionally, Baltimore/Washington International Thurgood Marshall Airport (BWI) further expands connectivity, offering another convenient option for global travel.

A Thriving Life Sciences Ecosystem and International Talent Base

Delaware benefits from its proximity to Philadelphia, a region that is increasingly recognized as a global destination for talent. CBRE ranked the metro-area as the 7th best market for life sciences manufacturing talent and 8th best market for life sciences R&D talent in 2024. Home to over 150 universities and colleges within a two-hour drive including University of Delaware, University of Pennsylvania, Princeton University, and Drexel University, the Delaware region produces a steady stream of highly skilled graduates in key fields driving innovation.

Additionally, the Washington, D.C.-Baltimore MSA, closely linked to central and southern Delaware, is a top-ranked market for biotechnology, biochemistry, and life sciences research and development. CBRE ranked the region as the 3rd best market for life sciences R&D talent and the 9th best market for life sciences manufacturing talent. With historic institutions like John Hopkins producing top-tier graduates, Delaware remains within reach of a global leader in cutting-edge medical and scientific advancements.

Moreover, the Delaware region’s cost-effectiveness relative to other East Coast cities enhances its appeal to young professionals and international enterprises looking for an accessible yet dynamic business environment. These factors ensure that Delaware remains well-connected to a dynamic labor market that fuels economic growth and global business expansion.

Staying a Key Player in the Global Economy

Delaware’s role in the global economy is both significant and evolving. From its status as a corporate hub to its strong regional connections and life sciences talent pipelines, the state continues to drive economic progress. With strategic advantages such as proximity to major international airports, a top-tier workforce, and a commitment to innovation, Delaware is poised to remain a key player in the global marketplace for years to come.