Sussex County Delaware

Delaware Economy
Ranked in Top 5

 
From Gov. Carper's Office ...

Honored for 3rd Straight Year

Delaware's economy has been rated one of the top five in the country for the third straight year by a national economic research organization, according to Delaware Gov. Thomas R. Carper.

The Corporation for Enterprise Development (CFED) released its "1999 Development Report Card for the States" on Tuesday, Feb. 15, 2000, and gave Delaware's economy As and Bs in its major grading categories. Only seven other states were on the nonprofit organization's "honor roll".

Since 1993, Gov. Carper said, more than 71,000 jobs have been created in Delaware, a figure that is also in the Top 5 in the U.S.

In addition, the state has cut personal and business taxes for seven consecutive years and the Fortune 100 again ranked Delaware as the state with the fairest and most equitable tax policy in the country.

Delaware also has the second fastest growth nationwide in median family income and the state's unemployment rate of 3 percent is the lowest among states in the region and well below the national average, Gov. Carper said.

"This national study illustrates that this administration's economic development strategy has succeeded in creating a strong environment where businesses can locate and grow," said Carper. "Delaware's place on the honor rolls again reflects the strides we have made in growing businesses that offer quality jobs to our residents. Delaware's strengths outlined in the study included competitiveness of existing businesses, entrepreneurship, technology resources, and infrastructure."

The CFED's annual report card grades states on 50 economic measures funneled into three major categories graded on an A to F scale. The report has been published annually for 14 years.

Delaware's grades in the three major categories were:

  • Business Vitality -- A. (business competitiveness and entrepreneurial energy.

  • Economic Performance -- B. (overall employment growth, unemployment rate, earnings, job quality and equity, environmental, social and health conditions.

  • Development Capacity -- B. (technological, human, financial and infrastructure resources)

Only Colorado and Utah scored As in all three categories. Delaware was also joined on the honor roll by Massachusetts, Michigan, Minnesota, New Jersey and Washington. West Virginia was the worst state with straight Fs.


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