WILMINGTON — A little more than a week out before his inauguration, Delaware Gov.-elect Matt Meyer affirmed his vision for economic development that would focus more on workforce development and small businesses and less on already-existing incentive programs.
Standing before 1,100 business leaders at the Delaware State Chamber of Commerce’s annual dinner Monday night, Delaware’s next governor said that in his administration, there would be more investment in and training of tomorrow’s workforce for businesses of all sizes.
But he also signaled that he was likely to change strategies that include the taxpayer-backed grant programs introduced under Gov. John Carney to incentivize companies to remain or arrive in Delaware.
“For years, Delaware and the majority of states have conducted economic development
through the use of taxpayer funds to entice companies to set up shop here. This is a myopic view,” Meyer said. “Companies that only consider money are not concerned about the most important thing: quality of life.”
“In my administration, you’re going to see the use of this cash assistance de-emphasized,” he continued. “Let’s focus our resources on things that matter the most to the companies and employees of today and tomorrow like workforce development.”
Under Carney’s direction, the state offered hundreds of thousands of dollars in various Strategic Grant Fund measures, including capital expenditure grants and job performance grants for companies that moved or expanded in Delaware. These funds are paid out as reimbursements of expenses once the company had made the investment within a certain period of time agreed upon by the company and the state.
In 2024 alone, 15 projects were approved for $28.4 million with Incyte’s planned relocation to downtown Wilmington as the largest recipient.
The Delaware Prosperity Partnership (DPP) established by Carney via executive order and later codified into law, has taken the lead in attracting new companies as well as working with Delaware’s existing companies.
The DPP has touted in the past that it has supported 75 projects drawing in 7,425 new jobs and $2 billion in capital investment between 2018 and 2024.
But Meyer has made no secret that he is not a fan of taxpayer grants, specifically when offered to out-of-state businesses, as he told the Delaware Business Times in July 2024. He also promised that corporations would receive a fair deal and that he hopes to be known as the “small business governor.”
He’s already making in-roads in several small businesses as he’s using the time in between his term as New Castle County executive and governor on a series of walking and biking tours throughout some of Delaware’s larger cities. Last Saturday, he spent a chilly morning walking the streets of Downtown Dover and meeting small business owners before a cold afternoon bicycling through Newark.
During his speech at the annual chamber dinner, Meyer said he is committed to fostering an environment where the state can partner with business so it can grow and succeed. His administration will have “intentionality and predictability” as its bedrock when it comes to policies, and plans to focus on building a workforce ready for the challenges ahead.
“It’s critical that we have a world class employee base with the skills necessary to start and serve our businesses. Only through that can we be assured that companies will not only come but they will put down roots and grow in Delaware,” he said.
He also pointed to iconic Delaware businesses such as CSC, DuPont, Incyte, ILC, Procter & Gamble, Dogfish Head Brewery, JPMorgan Chase & Co. and many more that chose to come to Delaware without a taxpayer-fund program to draw them here.
“You did not build a company and grow here because you were paid to do it with taxpayer funds. You put down roots because we had the workforce and the community that you needed to thrive,” Meyer said. “We must support small businesses like never before, the backbone of our economy through loans, grants and technical assistance.”
The governor-elect’s address to the state’s business leaders also emphasized other key platforms on his campaign, such as smart growth, maintaining green open spaces, building affordable housing and investing in education.
“To be honest, Delawareans deserve so much better than how we’ve handled public education in our state. We must, all of us, improve our public [kindergarten through 12th grade] systems and actually center resources on students and teachers if we want to be successful,” he said.
Meyer sees the focus on Delaware’s quality of life through these many aspects, not just businesses, as the path forward to creating a stronger community for all, including businesses.
“Delaware has so many opportunities for our current citizens and those who may choose to relocate here. We’re going to need the whole package if we’re going to build a Delaware for today and tomorrow, and I’m going to need the Chamber’s assistance to turn these policies into a reality,” he said.
