2015: Economic Development

2015 Reinventing Delaware Ideas – Economic Development

Fight the Brain Drain

Delaware needs to do a better job attracting startup. Gone are the days when we can attract the big company, the new economy is all about startups –and attractive venture capital is key. The state should have a version of the Ben Franklin Fund, named the Cesar Rodney Fund – aimed at making small seed investments in local startups. Perhaps a focus on Fin Tech.

Silicon Valley East

Let’s create a comprehensive strategy that makes Delaware known for being the hub on innovation on the east coast. This would include teaching innovation in all schools, attracting capital, teaching all market sectors about innovations in their industries and eliminate the educational disadvantages in poor neighborhoods that are now causing a drag on innovation and contribution from those neighborhoods.

Experimental Station & Stine Haskell Research Parks

Invest $25M into both facilities and make them research parks that biotech startup can use.

Adjust the Delaware Coastal Zone Act

Take advantage of the $2 billion dollar investment currently in place in Chester County, PA just over the Delaware border. Convene environmentalists, legislators and the community to work in unison with common sense approach towards making the necessary adjustments to protect the coastal zone but expand business opportunities here in Delaware. Allow redevelopment of existing sites for new employers such as Sunoco.

Make industry along the Delaware more competitive

Rolling back the Coastal Zone regulations for industry that existed prior to the creation of the regulation would be a boon for them. This regulation was created to prevent the development of causeways that could connect Milford with shipping channels and has accomplished that end. Let’s not suggest the reduction of good environmental standards, but rather, allow more industry to flourish along the Delaware.

Aligning State and Local Gov’t Leadership

For the use of the Bank Settlement dollars and Revisions to the Coastal Zone Act to encourage smart economic development.

Major Cancer Research Center

Using Joe Biden as a resource to locate a major national cancer center in Delaware.