Why Should Delaware Care? One of Delaware’s largest companies has sold its offices less than two years after moving to Wilmington, abandoning a project that looked to reenergize the city’s downtown and was heavily backed by taxpayer dollars. After negotiations, almost 80% of the original grant will be returned to the state and used for a new fund to support other businesses.
Months after local pharmaceutical giant Incyte abandoned plans to move its headquarters to Wilmington, state officials reallocated millions of grant dollars from the project to a new initiative to support small businesses.
The change in direction — from supporting one of the largest commercial projects in recent years to starting an expanded grant program for small businesses — is in line with Gov. Matt Meyer’s approach to economic development…