At the end of last year, we saw a lot of great news about Delaware and especially Wilmington. The state has been named number 7 in the top 10 in nurturing Technology companies and creating high paying jobs in the field. Delaware this past year had more people move in than out. Pew research center recognized the Governor’s fiscal policies that lead to fiscal growth in the state. Wilmington’s employment growth has lead to population growth Downtown. Keep reading to learn more of the finer details of all this awesome news.
According to the “State Technology and Science Index, Delaware over all has improved significantly which bumped the state up to 7th from 10th in the country overall. The report uses five metrics to determine rankings: Technology and Science workforce, Risk Capital and Entrepreneurial Infrastructure, Human Capital Investment, Research and Development Inputs, and Technology Concentration and Dynamism.
Delaware’s biggest improvement is in the Risk Capital and Entrepreneurial Infrastructure. This category covers the number of entrepreneurs, new businesses and new patents that have been generated within the state’s economic engine.
The Pew Charitable Trusts, which can be best described as a public think tank of ideas, noted Governor John Carney’s executive order 21 as one of 21 positive developments in 2018. The order instructs the council that sets the state’s revenue forecast to develop a benchmark aimed at slowing the growth of the budget by setting aside revenue that, if expended, would cause the spending plan to pass a certain point. The goal of this order is to “end the cycle of boom and bust that has plagued decision-makers over much of the past decade.”
Last year Wilmington saw quite the spike in employed residents. More than 32,000 residents are employed in the city which is the highest figure since 1999. The number of people living in Downtown Wilmington has also gone up 1.1%. At the begining of 2018, Downtown Delaware Development District program awarded almost $3 million in revitalization efforts. These efforts are already paying off seeing ESRI’s forecast for downtown Wilmington’s population calls for a healthy 6 percent growth over the next 5 years.