Author: Delaware Prosperity Partnership

Are these Banking, Tech, or Fintech Jobs? Does it Matter?

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Are these banking, tech, or fintech jobs? Does it matter?

25 JUNE, 2019

Are JP Morgan Chase and Capital One tech companies, banks, or fintechs?

While the answer is probably “yes” (or all of the above), the better response might be “Does it matter?”

I have a great deal of sympathy for the challenge that faced John Taylor, director of economic research for the Delaware Prosperity Partnership. Taylor recently completed an in-depth report on fintech in Delaware along with First State Fintech Lab and the University of Delaware’s Biden School of Public Policy & Administration.

Most of the jobs data is federal, with labor-market detail that hasn’t kept pace with the evolving realities of the job market. Here in Delaware, the state has little control over how jobs are defined. The numbers are different if you look at them by occupation than if you look at them by industry.

Back in our April 30 issue, I ran into this challenge when tracking the growth of banking jobs in Delaware (versus some views that the number was shrinking). It was unclear, for example, whether the 2,500 jobs that Chase has added to its Concord Pike technology center are technology or banking jobs. They’re not fintech jobs — at least as defined by the state — because there is no such category, a fact that seemed to startle Chase Market President Tom Horne.

Are Cap One and Chase (and perhaps others) tech companies as some claim? They’re certainly looking for technologists — Taylor’s team checked real-time job posting data for 20 financial-services firms with the most openings and found that 20% were tech-related. With some, the number was closer to 40%.

While a lot were indisputably new jobs, many were likely replacements due to poaching by competitors or people getting hired by Delaware companies outside the financial sector. It will be interesting to see how many of the 500 technology jobs that Barclays is sending to New Jersey later this year will decide to stay here in Delaware, a decision that will likely be made based on their ability to find work here and living costs.

But that takes us back to the question of whether the “fintech” characterization matters. Delaware banks do need more technologists to create products that attract or retain customers (Wilmington Trust/M&T is hiring those kinds of workers, as are others) in a world that requires a much greater digital focus. 

We have true fintech startups like Acorns and SoFi whose founders cut their teeth at MBNA and First USA and now want to hire people who helped build those cultures

There’s a lot of great data in the terrific “Delaware in a Fintech Future” report, including: 

  • Delaware ranked first in the country for per-capital fintech patents assigned from 2009-2018 with 20.6 per 100,000 population (South Dakota ranked second with 4.2), and fifth nationally in terms
    of the absolute number (we had 199).
  • Delaware has the highest concentration of tech workers in the country, according to the 2018 U.S. Bureau of Labor Statistics.
  • Financial services firms with at least 250 employees accounted for 91% of statewide financial services employment in 2017, up from 88% in 2007. It will be interesting to see how this number changes in the next report, given the growth in fintech startups covered throughout the rest of the 37-page report.
  • None of the 70 independent fintech-related venture capital firms based in the United States list Delaware as their primary place of business or even have an office here.

After reading reports like this, I like to ask the authors or sponsors what their takeaways are. 

Delaware Prosperity Partnership President and CEO Kurt Foreman believes that in-depth analysis like the new report helps provide potential prospects accurate, reliable content that can help inform their decision-making. 

“As the state’s lead economic development resource, DPP is well positioned to produce in-depth reports on Delaware’s core sectors — in this case, financial services,” Foreman said. “This report and others we plan to do help shine a light on Delaware’s distinctive value proposition. Attracting businesses to consider Delaware is a multifaceted process and research and analysis plays an important role.” 

First State Fintech Lab Co-Founder John Collins said he’s most proud of how different groups, with different missions, can come together in a truly collaborative fashion.

“Look, Delaware is a great and special place, but the world is only getting smaller and competition is only growing,” Collins said.  “It would be great if we can have a large company who can employ a lot of people, but we should think about how we can grow that locally as much as we look outside. We outline ways to do that in the report and they deserve serious consideration. I think we need to fight for the livability of the state. That means strengthening public education, supporting responsible development and roads that work, and providing access to opportunity for kids whether they live in Greenville, Townsend, or Dagsboro so they are prepared for this new economy.”

Here are my thoughts:

  • Determine where the technology-job gap is between not only fintechs but other Delaware industries like health care and manufacturing and then build programs to develop those students.
  • Help the state Department of Labor fine-tune its processes to better clarify whether jobs are banking or technology and create a “fintech” category so we can better track job movement.
  • Continue to focus on encouraging independent fintech-related venture capital firms to open offices in Delaware. This is one of our goals for Innovation Delaware 2020 — to help make the case for bringing investors to Delaware to see why we’re the First State for Innovation.

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FMC Announces $50 Million Investment in Newark Facility

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FMC announces $50 million investment in Newark facility

25 JUNE, 2019

FMC Corporation is planning to invest $50 million in its Stine Research Center in Newark, officials announced late Monday.

The Philadelphia-based agricultural sciences company acquired the 515-acre site on Elkton Road from DuPont in 2017. Stine serves as FMC’s global research and development center.

“We will invest nearly $2 billion in research and development through 2023 as a cornerstone of FMC’s long-term growth strategy,” Mark Douglas, president and chief operating officer, said in a prepared statement. “FMC employees at the Stine Research Center will lead much of this critical discovery and development work to serve our global business and customers. We’re pleased to partner with the State of Delaware to further our investment in the area.”

 

FMC will receive $1.6 million in incentives from the state’s Delaware Strategic Fund, though that money is contingent on the company meeting employment benchmarks, according to Sarah Kenney-Cruz, a spokeswoman for the Delaware Prosperity Partnership.

FMC is expected to hire 13 new employees over the next three years, including professional scientists and skilled associates, adding $1.3 million to the payroll. The Stine site already employs approximately 600 people, including support staff and contractors.

“FMC is making a significant new investment in Delaware, and in a campus that has long been a center of world-class biotechnology and agriscience research,” Gov. John Carney said in a prepared statement. “This investment in Newark will support good-paying jobs for Delawareans and their families, and the continued growth of our state’s economy. It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none. And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”

Emily Parenteau, a spokeswoman for FMC, said the work will include a state-of-the-art reconfiguration of a greenhouse as well as improvements to a research building and the purchase of additional equipment and infrastructure.

FMC produces a number of herbicides, pesticides and fungicides for farming, though the Newark site is used for research and development, not manufacturing.

“Over the years, FMC has been a leader in developing agricultural products that our farmers need,” Delaware Secretary of Agriculture Michael T. Scuse said in a prepared statement. “As a global agricultural leader, we are excited to have their research facilities based in Delaware and their continued investment in the First State.”

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FMC Corporation Plans $50 Million Investment in Global Research and Development Headquarters in Newark, Delaware

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FMC Corporation plans $50 million investment in Global Research and Development Headquarters in Newark, Delaware

(Wilmington, Del.) FMC Corporation (NYSE: FMC), a publicly traded agricultural sciences company, plans to invest more than $50 million over the next three years in capital improvement projects, including a state-of-the-art reconfiguration of a greenhouse and research facility at the company’s Global Research and Development headquarters in Newark, Delaware.

FMC acquired the 515-acre Stine Research Center campus as part of its acquisition of a portion of DuPont’s crop protection business in 2017.  The transaction was the largest in FMC history and retained more than 500 jobs in Delaware, transferred 45 employees from a nearby state and created 19 new positions.

“FMC is making a significant new investment in Delaware, and in a campus that has long been a center of world-class biotechnology and agriscience research,” said Governor John Carney. “This investment in Newark will support good-paying jobs for Delawareans and their families, and the continued growth of our state’s economy. It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none. And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”

“Over the years, FMC has been a leader in developing agricultural products that our farmers need,” said Delaware Secretary of Agriculture Michael T. Scuse.  “As a global agricultural leader, we are excited to have their research facilities based in Delaware and their continued investment in the First State.”

FMC plans to reconfigure an existing structure at the facility to enhance its global research and development (R&D) efforts.  In support of the project, the company plans to hire 13 employees over the next three years, which would bring its total of full-time R&D employees at the Delaware campus to approximately 375.  The new positions include professional scientists and skilled associates, adding approximately $1.3 million to its annual payroll.  The site’s total workforce of nearly 600 includes support staff and contractors.

“We will invest nearly $2 billion in research and development through 2023 as a cornerstone of FMC’s long-term growth strategy,” said Mark Douglas, president and chief operating officer.  “FMC employees at the Stine Research Center will lead much of this critical discovery and development work to serve our global business and customers.  We’re pleased to partner with the State of Delaware to further our investment in the area.”

To support its expansion, the Council for Development Finance (CDF) approved a grant for $1,642,500 from the Delaware Strategic Fund, including $142,500 for a performance grant and $1.5 million for a capital expenditure grant.  The grant supplements the company’s own investment over a three-year period.  Both grants are contingent upon meeting employment benchmarks.

About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses, including agribusiness companies. DPP works with site selectors, commercial developers and business executives focused on where to locate or grow a business. The team helps with reviewing potential sites, cost-of-living analysis, quality-of-life intel and funding opportunities, including available tax credits and incentives. For more information, visit staging.choosedelaware.com.

About FMC
FMC Corporation, an agricultural sciences company, provides innovative solutions to growers around the world with a robust product portfolio fueled by a market-driven discovery and development pipeline in crop protection, plant health, and professional pest and turf management. This powerful combination of advanced technologies includes leading insect control products based on Rynaxypyr® and Cyazypyr® active ingredients; Authority®, Boral®, Centium®, Command® and Gamit® branded herbicides; Talstar® and Hero® branded insecticides; and flutriafol-based fungicides. The FMC portfolio also includes biologicals such as Quartzo® and Presence® bionematicides. FMC Corporation employs approximately 6,500 employees around the globe.

FMC, the FMC logo, Rynaxypyr, Cyazypyr, Authority, Boral, Centium, Command, Gamit, Talstar, Hero, Quartzo and Presence are trademarks of FMC Corporation or an affiliate. Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. Hero® insecticide is a restricted use pesticide in the United States.

 

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  FMC and its representatives may from time to time make written or oral statements that are “forward-looking” and provide other than historical information, including statements contained in this press release, in FMC’s other filings with the SEC, and in reports or letters to FMC stockholders.

In some cases, FMC has identified forward-looking statements by such words or phrases as “will likely result,” “is confident that,” “expect,” “expects,” “should,” “could,” “may,” “will continue to,” “believe,” “believes,” “anticipates,” “predicts,” “forecasts,” “estimates,” “projects,” “potential,” “intends” or similar expressions identifying “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases.  Such forward-looking statements are based on management’s current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement.  These factors include, among other things, the risk factors included within FMC’s 2018 Form 10-K filed with the SEC.  FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

This press release contains certain “non-GAAP financial terms” which are defined on our website www.fmc.com.  In addition, we have also provided on our website at www.fmc.com reconciliations of non-GAAP terms to the most directly comparable GAAP term. 

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Fintech Growing Strong in Delaware

Written on . Posted in Press Releases.

Fintech growing strong in Delaware

A new report details Delaware’s role in Fintech

Delaware in a Fintech Future, a report highlighting Delaware’s role in the rapidly changing financial services industry, was released today. The report, researched and authored by the Delaware Prosperity Partnership, First State Fintech Lab and the University of Delaware’s Institute for Public Administration, details the latest developments and fast-moving technological innovation in financial services.

With brand power that includes JPMorgan Chase, Capital One, M&T Bank, WSFS Bank, and Citibank, the talent pool in banking and financial services has grown exponentially and accounts for 9% of all jobs in Delaware, the highest share of any U.S. state.

And now, in addition to being a destination location for traditional banking, fintech companies from around the world are choosing Delaware.  Examples include Irvine, California-based Acorns, which opened a satellite operation at The Mill in Wilmington, Delaware; Delaware-based Fair Square Financial, which recently expanded and moved into a 22,000 square-foot facility in Wilmington, Delaware; and Marlette Funding, which is expanding and creating 200+ new jobs and making a $7.5M capital investment in New Castle County, Delaware.

Defining the fintech sector can be complicated, according to John Taylor, Director of Economic Research at the Delaware Prosperity Partnership.

“Some are referring to fintech as a standalone new industry,” Taylor said. “Certainly, the term is relatively new, but a closer look suggest that all financial services companies are becoming fintech companies, including the well-established incumbents as well as early-stage startups.”

No matter how broad or narrow the definition, Delaware is becoming the location-of-choice for financial and business services.

Fast Facts:

  • Delaware has the highest relative concentration of financial services jobs of any U.S. state. Among U.S. counties, New Castle County ranks third.
  • Since 2009, nearly 200 fintech patents were assigned to Delaware-based individuals and companies, ranking first in the United States on a per capita basis, and fifth in absolute terms.
  • Finance accounts for more than one-fifth of our state’s GDP, the largest contribution of any sector.
  • Delaware has been a magnet for out-of-state direct investment by financial services firms in recent years, with $725 million invested since 2010. Wilmington is the leading destination in our region for this investment.

“We should think of fintech as the next wave of innovation in banking,” says Taylor. “Advances in machine learning and data analytics are enabling new ways for consumers to access financial services.”

Delaware in a Fintech Future is available at staging.choosedelaware.com/data/reports-publications/delaware-in-a-fintech.

About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses. DPP works with site selectors, commercial developers and business executives responsible for deciding where to move or grow a business. The team helps with reviewing potential sites, cost-of-living analysis, quality-of-life intel and funding opportunities including available tax credits and incentives. For more information, visit staging.choosedelaware.com.

About First State Fintech Lab
The First State Fintech Lab (FSFL) is a nonprofit dedicated to nurturing and growing the financial technology ecosystem in Delaware by convening and collaborating across industries, disciplines, and demographics. The FSFL supports and helps foster novel public-private partnerships and dialogue; works to fill Delaware’s talent pipeline; and supports expanding opportunities and access to low investment communities. To learn more, visit firststatefintech.org

About the Institute for Public Administration, University of Delaware
The University of Delaware’s Institute for Public Administration (IPA) addresses the policy, planning, and management needs of its partners through the integration of applied research, professional development, and the education of tomorrow’s leaders. IPA is a research and public service center in the Joseph R. Biden, Jr. School of Public Policy & Administration. To learn more, visit www.ipa.udel.edu.

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Premier Research Campus Available

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Premier Research Campus Available

11 JUNE, 2019

Available: Premier Research Campus

974 Centre Rd. Wilmington, DE 19805

  • First time on the market.
  • 444,000 sq ft of laboratory and support space.
  • Master planned development includes 14 buildings. Existing space totals 788,000 sq ft.
  • Seven stand-alone buildings, totaling 468,000 sq ft available for lease.
  • Existing infrastructure includes chemical, engineering, and process laboratories.
  • Campus served by central utility plant for the generation of chilled water and steam.
  • Highly flexible traditional poured concrete and steel constructed buildings.
  • Land available for potential build-to-suit opportunity

Click here for a campus map.

For more information:

Becky Harrington
Director, Business Development
302.576.6577
BHarrington@choosedelaware.com

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Delaware: Where the World Chooses to do Business

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Option: 1

Delaware: Where the World Chooses to do Business

Delaware coalition attends SelectUSA Investment Summit

WASHINGTON, D.C. – June 10, 2019 — With more than a million companies from around the globe choosing Delaware as their legal home, Delaware has become an internationally trusted corporate and business law hub. This week, the Delaware Prosperity Partnership, Delaware’s economic development group, will be at booth #843 for the premier SelectUSA Investment Summit in Washington, D.C.

“Delaware is experiencing impressive growth in bioscience, fintech, advanced manufacturing, ag-science and — with the new privatization of the Port of Wilmington with GT USA — we are seeing many more businesses give Delaware a second look,” says Kurt Foreman, President and CEO of the Delaware Prosperity Partnership, a public-private organization focused on attracting business and industry to the state.

Expansion of the Port of Wilmington: Last year, under Governor John Carney’s leadership, the State of Delaware and Gulftainer, based in the UAE, signed a 50-year lease agreement.  GT USA, the U.S. division of Gulftainer, is implementing a $600M improvement plan that will expand the existing terminal and construct a new, 1.2 million-TEU terminal, quintupling the facility’s capacity.

“Given that our Port is a 10-hour truck drive to 30% of the American population and 63 miles from the Atlantic Ocean; Delaware businesses and industries will benefit immensely from the Port’s expansion,” Foreman says.

Fintech Growth:  Delaware is well known internationally as a business and financial services hub. It’s no surprise that it is at the forefront of the latest innovations in financial services – fintech.  Big brand name banks such as JPMorgan Chase, Bank of America, Capital One and WSFS as well as a variety of innovative small-to-medium sized fintechs are growing in Delaware including Acorns, College Ave Student Loans, Fair Square, Marlette Funding, PayPal and SoFi to name a few.

With nearly 21 patents per 100,000 residents, Delaware ranks first per capita in fintech patents. Delaware has also been a magnet for out-of-state direct investment by financial services firms in recent years, with $725 million invested since 2010.

Foreman cites several distinctive factors in Delaware’s impressive record of business growth:

  • Location – Delaware has an enviable location on the U.S. East Coast, allowing hassle-free, easy business travel to anywhere in the U.S. or the world.
  • Business-friendly – Delaware makes it easier for businesses to incorporate, which is why more than a million companies incorporate in Delaware.
  • Business Law – Delaware has the most trusted business law model in the world, as a court of equity cases are adjudicated by judges that have been selected (not elected) based on their business expertise. That’s why some of the most important business cases in the world are litigated in Delaware’s Chancery Court.
  • Affordable – Delaware has all the advantages of living on the U.S. East Coast with a competitive and attractive cost of living, including its tax structure and housing costs.
  • Talent Pool – with more than 100 universities — including medical schools — within a 2-hour drive, Delaware has distinctive access to talent.
    • 4th highest number of employed PhD’s in science, engineering and health
    • Outpaces the national average for college grads

With all these strengths, Delaware is an attractive location for foreign direct investment. For more information, contact Kurt Foreman at kforeman@choosedelaware.com or visit staging.choosedelaware.com.

About SelectUSA Investment Summit
The SelectUSA Investment Summit is the highest-profile event dedicated to promoting foreign direct investment (FDI) in the United States. This signature event provides an unparalleled opportunity to bring together companies from all over the world, economic development organizations from every corner of the nation, and other parties working to facilitate business investment in the United States. Featuring senior government officials, C-Suite business executives, and other thought leaders, each summit focuses on a timely theme related to the U.S. investment environment, industry trends, and new opportunities.

 

About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership (DPP) leads the state of Delaware’s economic development efforts. This initiative brings together the resources, commitment, and energy of both public and private sectors charged by the Delaware General Assembly to attract, grow and retain companies; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent in the state of Delaware.

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Delaware Cook Apprenticeship Program

Delaware’s First Restaurant Apprentice Program Set to Launch in Rehoboth

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Delaware’s first restaurant apprentice program set to launch in Rehoboth

6 JUNE, 2019 | TECHNICALLY DELAWARE

The Delaware Restaurant Association and Secretary of Labor Cerron Cade are launching a Registered Apprenticeship Program for culinary professionals in the restaurant industry — a major expansion of an on-the-job training program that primarily focuses on more traditional trades like plumbing and construction.

The Delaware Cook Apprenticeship Program will have its pilot program in Sussex County, with a kickoff at Bluecoast Seafood Grill & Raw Bar in Rehoboth Beach on March 29.

The program features both on-the-job training and classroom instruction, with apprentices earning certifications and pay increases as they complete skills assessments.

“I’m very excited to announce this new apprenticeship opportunity for Delawareans,” Cade in a press statement. “With the strong and steady growth of the food services industry, this is a great example of government and industry working together to ensure that worker and employer needs are met. Apprenticeship is an excellent workforce training tool that is being used more and more by local, regional and global employers.”

The Cook Apprenticeship Program is modeled on the Delaware Restaurant Association’s successful ProStart culinary and management curriculum, part of Delaware’s Pathways to Prosperity program, reaching over 3,000 students in 18 local high schools, including McKean High School and William Penn High School.

Kurt Foreman

PRESIDENT & CEO

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Biotech Leaders Answer the Question “Why Delaware?”

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A Delaware Institution on the Business Benefits of Delaware

4 JUNE, 2019

June 3 marks the day DowDuPont was officially laid to rest, and DuPont rose again.

Actually, it’s a lot more complicated than that, but the long-planned DowDuPont “three-way-split” means that Delaware has a “new” DuPont Company focusing on science and innovation products (including clean water tech and smart electronics) and a new agriscience company, Corteva, both with headquarters in Wilmington.

(DuPont’s former chemical branch, Chemours, is still based in Delaware, with brand-new construction going up on the University of Delaware STAR Campus in Newark.)

The two companies currently have about 100 job openings in Delaware, and that’s expected to rise by quite a bit post-split.

As it happens, June 3 was also the kickoff of the international BIO2019 in Philadelphia, and DelawareBio hosted the Biotech Ecosystem Tour, starting at Incyte in Wilmington and ending at the STAR Campus.

Some of Delaware’s biotech leaders — including Christiana Care Health System CEO Janice Nevin, Incyte CEO Hervé Hoppenot, Adesis CEO Andrew Cottone and LabWare CEO Vance Kershner, along with Delaware Secretary of State Jeff Bullock, Delaware Prosperity Partnership CEO Kurt Foreman and Delaware Innovation Space CEO Bill Provine — participated in a panel as part of the event.

The big question: Why should biotech companies choose Delaware?

“Delaware is small in size but big in spirit,” said Hoppenot, whose cancer pharmaceutical company (which unveiled its new global headquarters on the former site of Wanamakers on Augustine Cutoff in 2017) has hired about 1200 people over the last couple of years. “It’s near Penn and Johns Hopkins. The talent is here.”

And, while Delaware’s proximity to Philadelphia, New York and Washington D.C. is considered a draw for all kinds of industries, when it comes to biotech, that advantage is magnified.

“Washington to New York is the new ‘Innovation Corridor,’” said Nevin, “and we’re right in the middle of it.”

And our neighbors are not the competition, as the industry in the region often works together.

“It would be different if we were an island,” said Foreman.

Some advantages call back to the state’s DuPont legacy.

“There are a lot of “retired” scientists in Delaware helping companies get things done,” said Kershner. “You won’t find that anywhere else.”

Cottone’s phrase “Delaware moves at the speed on entrepreneurship” made an impact on the panelists, who agreed — the entrepreneurial ecosystem for biotech is fast-moving, from fast-turnaround funding to speedy access to wet labs and work spaces.

The state has strong legislation that protects intellectual property, an Angel Investor’s Tax Credit and EDGE grants for small businesses.

“We’re not a backwater town,” said Secretary of State Bullock. “We can run with the big dogs.”

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Delaware: Ideal for Foreign Direct Investment

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Delaware: Ideal for Foreign Direct Investment

4 JUNE, 2019

More than one million companies from around the world choose Delaware as their legal home. That includes two-thirds of Fortune 500 companies. Here are just a few of the reasons why.

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Stop by the Delaware Booth at BIO 2019

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Stop by the Delaware booth at BIO 2019

4 JUNE, 2019

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Biotech Institute Expanding to New Space on STAR Campus

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Biotech Institute expanding to new space on STAR campus

22 MAY, 2019 | DELAWARE BUSINESS TIMES

The Delaware Biotechnology Institute will expand into 70,000 square feet within the new six-story, $160 million Biopharmaceutical Innovation Building on the STAR Campus next February.

The building, which includes labs, offices, collaborative space, and shared research instrumentation facilities, will be the home of the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL), a UD-led coalition of 150 companies, educational institutions, nonprofits and state governments.

Biopharmaceuticals are prescription drugs made with living cells.

“We need more space to support the expanding needs of life science researchers across campus,” said Dr. John Koh, the interim director of DBI and a UD professor in chemistry and biochemistry. “We’re not abandoning our current site, but expanding and moving our core facilities to support current and future initiatives on STAR campus. There’s an enormous difference between office space and wet research space. Being in the new building will also help us support the new NIIMBL program.”

The Delaware Biotechnology Institute is a magnet for life-science research and development. The institute supports multidisciplinary, collaborative research at all of Delaware’s research organizations, including the University of Delaware, Delaware State University, Christiana Care Health System, Nemours/A.I. duPont Hospital for Children, Wesley College, and Delaware Technical and Community College.

The Institute houses research laboratories with scientists, students, and faculty working on projects related to agriculture, human health, and energy and the environment and also makes available high-end instrumentation facilities to Delaware’s entire life-science community. DBI researchers are focused on advanced sequencing technologies, imaging technologies, and computational capabilities.

NIIMBL is funded through a $70 million cooperative agreement with the National Institute of Standards and Technology (NIST) in the U.S. Department of Commerce and leverages additional commitments from partners.

Koh said the new building will be occupied by UD faculty from four colleges and will help faculty and staff that will help launch a new program in pharmaceutical sciences at the university. The Delaware Biotechnology Institute will take a little over two floors of the six-story building besides the 70,000 square feet it has in its current location at 15 Innovation Way.

This article was originally posted on the Delaware Business Times at: https://www.delawarebusinesstimes.com/biotech-institute-expanding/

Kurt Foreman

PRESIDENT & CEO

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Register for the BIO Convention & Sign Up for the Delaware Tour

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Register for the BIO Convention & sign up for the Delaware tour

22 MAY, 2019

Here’s your chance to be a part of the most respected forum for the transformative field of bioscience.

Attend to:

  • Join 18,000+ global business development leaders from 7,000+ companies
  • Be a part of 45,000+ BIO one-on-one partnering™ meetings in just 3.5 days
  • Attend 18+ session tracks, 250 company presentations and start-up pitches
  • Network with 1,800+ exhibitors, specialty pavilions and zones—plus top CRO’s and CMO’s
  • Sign up for the Bioecosystem tour: Delaware – Where the World Comes to Do Business

Be part of the international forum that connects the most talented professionals in bioscience from around the world.

You can access convention resources at the following links:

Please continue to visit our site for more details as they become available. In the meantime, be sure to mark your calendar with these important dates for BIO Philadelphia June 3 – 6, 2019.

For more information contact Ariel Gruswitz 302.576.6565

*New* Information on Delaware’s Bio Ecosystem Tour

Delaware – Where the World Comes to Do Business
Monday, June 3 10:00 AM – 4:00 PM

Participants on this tour will learn from top experts in industry, academia and government about the various opportunities Delaware has to support potential companies. This tour will feature stops at Incyte’s new corporate headquarters, University of Delaware STAR Campus- Delaware Tech Park at STAR incubator, the College of Health Sciences and the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL).

Industry, academia, and government interested in learning about Delaware’s knowledge-based assets, interdisciplinary collaboration and inclusive innovation communities should attend this tour.

The tour will begin with information on Delaware’s unique value proposition in the life sciences and related industries (en route to Wilmington).

First stop: Incyte’s new corporate headquarters for a panel discussion on the benefits of doing business in Delaware. We will highlight (via key leaders in our scientific and government community) why more than 65% of all U.S. companies incorporate in Delaware; tax incentives; Opportunity Zones; incubators and the support we provide to entrepreneurs. Our small size allows us to be nimble and provide “concierge” support to our companies.

Next stop will be the University of Delaware (UD), including lunch at STAR Campus: a live-work-learn, Opportunity Zone community transforming the regional innovation landscape, including:

  1. Delaware Tech Park at STAR incubator, a full-service incubator that works in collaboration with the Small Business Development Center (SBDC) and UD to support startups.
  2. The College of Health Sciences, the nation’s #1 Physical Therapy school, which has a unique integration of clinic, academic research and industrial start-ups.
  3. National Institute for Innovation in Manufacturing Biopharmaceuticals is a consortium of 150+ partners to improve the manufacture of biopharmaceuticals and address workforce development. “NIIMBL” is one of 14 national institutes in the Manufacturing USA network, designed to increase U.S. competitiveness in manufacturing.

The tour will include a brief presentation from the Dean of College of Health Sciences and the Director of NIIMBL. The bus will depart at 3 p.m. and arrive back in Philadelphia by 3:45 p.m.

Tour Organizer: The Delaware BioScience Association is a trade association with a mission to catalyze growth of the life science industry in Delaware. The Delaware Prosperity Partnership is a public-private partnership that is the state’s lead resource to attract, retain and grow businesses; build a stronger entrepreneurial and innovation ecosystem; and support private employers in identifying, recruiting and developing talent in Delaware.

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