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Delaware

A guide to help you understand the ins and outs of business in Delaware

Overview

Delaware is a Mid-Atlantic state located on the East Coast of the US. Delaware’s capital is Dover and its largest city is Wilmington. Delaware is the second smallest state in land mass and has the fourth smallest population at an estimated 983,000 people. Delaware had a GDP of $77,082,000,000 in 2019.

Delaware’s top industries are science and technology, business and financial services, food and agriculture, manufacturing and logistics, and education and healthcare. Delaware is home to JPMorgan, Chase, Capital One, M&T Bank, WSFS Bank, and Citibank. Due to Delaware having some of the most attractive tax codes in the country, more than 300 of the Fortune 500 companies have their headquarters in Delaware. Delaware’s agriculture industry is also strong; it is a top producer of boiler chickens (more than $1 billion per year), and it is the leader in the country for agricultural value sold per acre.

In 2019, Delaware imported $1,267,153 from Qatar. Its top imports are: special classification provisions, nuclear reactors, boilers, and machinery. In 2019, Delaware exported $46,734,058 to Qatar with its top exports being: special classification provisions, nuclear reactors, boilers, machinery, electric machinery, and sound/TV equipment.

Delaware’s corporate income tax is 8.7%. Every corporation, domestic and foreign, doing business in Delaware must file a corporate income tax return. Delaware has a single free trade zone in the state’s most populated city, Wilmington. Including programs such as the Young Farmer Loan Program, the Delaware Strategic Fund, and the Research and Development Tax Credit, Delaware offers 27 incentives and credits for businesses operating in the state.

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