With access to more than 60% of the U.S. consumers; one of the busiest passenger rail services in America and proximity to two international airports, Delaware’s enviable location along the U.S. northeast corridor makes it a top choice for businesses and job seekers who want to live on the East Coast. And there’s more: Delaware’s business law courts are considered the most expert and trusted business courts throughout the world and nearly 67% of the Fortune 500 companies incorporate in Delaware.
With the 6th lowest property tax in the U.S. and no sales tax, Delaware is attracting more and more professionals and has the fastest growing population in the Northeast as well as the MidAtlantic. The Milken Institute, U.S. News & World Report, Forbes, and the Brookings Institute consistently highlight Delaware as a top state to work, live, and innovate.
#3 in U.S. for lowest tax burden
(Wallethub, 2022)
Delaware ranks among the top three nationwide for business tax favorability, according to a new report by the Tax Foundation and KPMG. The report, Location Matters, assesses the corporate tax burden in two categories of cities – major and mid-sized – throughout all 50 states, accounting for the wide range of tax impacts faced by businesses such as property tax, income tax, sales tax and others. The comprehensive study compared the full tax burden faced by businesses in all 50 states.
Delaware outpaced its neighboring states in the Mid-Atlantic region for most sector types in both the new and mature business categories. The nationwide study ranked each state’s tax favorability performance including their Tier 1 and Tier 2 cities. In Delaware, the two cities ranked in the Location Matters report are Wilmington in the Tier 1 major city category and Dover in the Tier 2 mid-sized city category.
Key findings from the nationwide survey reveal:
Additionally, the City of Wilmington was recently recognized as having the 2nd best business climate in the nation for cities under 200,000 residents. (Business Facilities, 2022)
Innovation in Delaware means more opportunities to innovate and more opportunities to thrive. Some of the most transformative advances in history got their start in Delaware and that tradition of embracing the power of creativity continues to thrive in Delaware today. During the past 50 years, Delaware innovators have been issued the most patents, per capita, in the United States.
Whether it’s precision agriculture, advanced materials and manufacturing, fintech, bioscience, pharma or sustainable chemistry, Delaware tops the charts for places that encourage innovation. According to the Milken Institute Science & Tech Index, Delaware ranks 9th overall in their state technology and science index. For research development inputs Delaware ranks 3 – this ranking factors in Federal R&D expenditures, industry R&D expenditures, academic R&D expenditures, National Science Foundation funding, and small business research funding.
Speed: Size matters when it comes to speed. Our small size provides more attention to businesses looking to grow quickly. With eager and accessible State leadership, you can influence change much more rapidly in Delaware than in larger states.
Access: An accessible government and business community paired with trusted and expert legal, governing, and corporate tax regulations make Delaware the preferred choice for incorporating businesses.
Fastest growing state in the Northeast and Mid-Atlantic regions
(2020 Census Data)
Delaware has no sales tax, the 6th lowest property taxes in the country and a highly competitive cost-of-living which is why more and more professionals are choosing Delaware. Delaware has outpaced other Northeast corridor regions with the fastest growing population in in the Northeast and Mid-Atlantic regions in 10 years.
What’s more, Delaware’s commitment to preserving nature and the great outdoors means you can navigate the Greenway Trail to walk from one end of the state to another. Delaware features an unusual blend of residential choices, from city living to small-town America to beach life along some of the best sands on the Northeast corridor: Bethany Beach and Rehoboth Beach rank among the top 21 East Coast beaches to visit, according to U.S. News and World Report. When you really want to get away, you’re in the epicenter of the mid-Atlantic – an easy drive to Philadelphia, Baltimore, New York, and DC. Delaware is also known for its award-winning schools, nationally ranked healthcare systems, diverse range of recreation options and a welcoming “state of neighbors.” And there’s more:
“Delaware has a world-class workforce, and a quality of life that is second to none.”
John Carney, Governor
Read what others have to say about Delaware. Click on a tab below to learn more about the great reasons to live or work in Delaware.
“Delaware is small in size but big in spirit. It’s near Penn and Johns Hopkins. The talent is here.”
“There are a lot of ‘retired’ scientists in Delaware helping companies get things done. You won’t find that anywhere else.”
“One of the things that really stood out to me was how close you are to Philadelphia International Airport. That was eye-opening and probably the number one item that stood out to me. It really gives you an opportunity to really sell yourself as in, ‘Delaware may not have its own international airport, but the state doesn’t have all of the expenses and liability that go with running an airport and you still get access to all of those ‘big city’ things.’ Even being in the southern part of Delaware, you’re still very, very close to the international airport. From anywhere in Delaware, you can get to the international airport and get around the world.”
“Delaware has been a great location for us with its proximity to so many different areas
— being close to Washington D.C. when working with military contacts is critical. Delaware also has a very advantageous corporate structure and programs like Delaware Technology Innovation Program. And people are really friendly here.
Networking in Delaware is surprisingly well-connected and willing to connect you to others. There is only one degree of separation here. We have connectivity and warmth that you don’t get in other places.”
“It sounds crazy to say something on the coast is central. But when you think of where we are right now — we could get in a car and be in Philly in two hours, be in Baltimore or D.C. in two hours, and in less than three and a half hours, be in Manhattan. So it’s actually a great hub to distribute a high-end product from because you have the proximity to all these awesome cities. That and you get to live at the beach in a low-stress, beautiful, natural environment.”
“I love the quality of life I get living and working here in Delaware. We can be at the beaches or the mountains in about an hour. I do a little bit of traveling for shoots, but most of my work is here in Delaware. Sure I could go to New York and hunt down some of the bigger agencies but I’m perfectly happy telling the stories of the people and brands in our state.”
“Delaware had and continues to have everything I need to be successful and flourish in my profession including competitive salaries for educators and opportunities for continued education.”
“Delaware is a great place to be able to make a difference. It’s a great place to experiment. Our success is really a testament to all of the libraries working together.”
“In Delaware we have incredible access to our lawmakers, CEOs and the media. We can make incredible inroads in terms of communicating between all the stakeholders in business and the entrepreneurial ecosystem.”
“It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none. And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”
“Delaware is home to some of the nation’s most innovative small companies and now with this tax credit, science and high-tech entrepreneurs have even more incentive to choose Delaware to grow their businesses.”
“Delaware has the fourth highest number of employed PhDs working in science, engineering and healthcare. 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.”
“New Castle County has corporate and banking but it also has the richness and splendor of the DuPonts who were such awesome stewards of their wealth. Kent County has a richness of colonialism, the John Dickinson Mansion and the signing of the Constitution and The Green and the maypole dancing. Sussex County is like the little beach resort Riviera of the state, with its own culture and influx from all of the surrounding cities beyond Delaware. Throw in the cultural experiences we’ve had here, which we’ve always had in the north of the state, but now we also have in the Biggs Museum in Dover and the Freeman Stage in Selbyville.
It’s home, first and foremost. It’s accessible — you can find yourself at a red light next to the governor. I love that it’s a small state and that it’s the first state. I love that it’s a community, small enough that we can know each other.”
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