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  • Lessons learned from Fisker Motors
    Since the state of Delaware awarded Fisker Motors an interest free loan of $12.5 million and a $9 million grant, what has transpired and what lessons can be learned from this? Following the loan and grant from the state and a $529 million federal government loan guarantee, things have been ugly. Fisker decided to use government money to build its prototype sports car, Karma, in Finland rather than the United States. Then, two Karmas have literally gone up in flames. Adding insult to injury, a Karma purchased by Consumers Report died on the test track and had to be hauled away. Fisker h....
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  • Made in America, manufactured in Delaware
    Delaware has a rich manufacturing tradition. For decades, high quality, highly paid manufacturing jobs sustained our communities – and I believe they can again. We can make products in America and manufacture them in Delaware if we put the right policies in place. In fact, we have already seen progress with the groundbreaking of a new manufacturing facility on the grounds of the shuttered Chrysler plant in Newark. If we want to support companies that make their products in America, which creates jobs and strengthens our middle class, we have to make the right choices in our tax code. ....
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  • The Looming Triple Tax Increase in Your Future
    The so-called Bush tax cuts are set to expire at the end of the year. That means that all of the current income tax rates will rise to pre-2001 levels overnight. The lowest rate will jump from 10% to 15% and the highest from 35% to 39.6%. Although Congress extended all of the cuts at the end of last year, it's now debating whether to let those cuts expire for individuals making $200,000, and families earning $250,000. Prior to 2001, dividends were taxed as ordinary income. The Bush tax cuts then dropped the rate on dividends and capital gains to 15%. Thus, if the tax cuts expire, the divi....
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  • Delaware's Economy: Four Years in the Wilderness
    The April, 2012 labor market data for Delaware has just been released and the numbers are not encouraging. Compared to April of 2008, four years ago, total employment in Delaware is down by 20,000. Construction jobs are down 40%, manufacturing off 22%, and finance jobs down 6%. Government, of course, is up 2%. Although compared to four years ago the civilian labor force in Delaware is off by 5,000 people, the number of folks unemployed is up by 68%. Real (inflation-adjusted) Delaware personal income is essentially unchanged and real total wages have dropped 4%. And, unsurprisingly, ....
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  • Economic Development with no accountability
    What would you think of officials who spend tens of millions of your tax dollars every year and never check on whether citizens get what they pay for? That’s what’s happening with Delaware’s questionable program to buy jobs. The state regularly gives your tax dollars to companies that promise to create or maintain jobs here. The catch is that nobody ever checks on whether the companies keep the promises they made about jobs. A new study by the Pew Center on the States evaluated states that pay companies in return for the promise of jobs. Delaware was found lacking. According to Pew,....
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  • A Consumerist, not "All of the Above," Energy Policy
    President Obama just can't decide on Keystone XL. Earlier this year, he denied approval for the project, which would have unleashed construction of a 2,600-mile pipeline to transport oil from Canadian shales to American refineries. Yet at a recent campaign stop in Cushing, Oklahoma, the Energy-Impresario-in-Chief said he did support the pipeline -- well, part of it. He announced a plan to fast-track Keystone's southern leg, a 484-mile track running from Cushing to the Gulf Coast. A White House that rejects a major energy project one day, then demands fast-track approval for that same p....
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  • Websites now free for Delaware businesses
    Wilmington, DE – Google has announced "Delaware Get Your Business Online", in which it has worked with local partners to design the program, that will help drive economic growth by giving Delaware businesses the tools and resources to establish a website, find new customers, and grow their business. Increasing the number of small businesses online is one of the best ways to expand the Delaware economy. "Delaware Get Your Business Online" is an easy and fast way for Delaware businesses to get online. For the next year, participating Delaware businesses can go to http://www.DelawareGetOnlin....
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  • SBA announces 2012 Small Business Award winners
    Wilmington, DE – Fourteen people will receive awards from the U.S. Small Business Administration’s Delaware District Office, at the Small Business Awards Dinner in Newark on Monday, May 14. Each year the President of the United States designates one week as National Small Business Week in recognition of the small business community’s contribution to the American economy. The 2012 observance of National Small Business Week is May 20-22 in Washington, D.C. where more than 100 outstanding small business owners from around the country will be honored and the National Small Business Person of ....
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  • Emprender un negocio próspero en tiempos de crisis es posible
    Barbara y Bob Svenson querían montar un salón de belleza pero no sabían cómo empezar ni qué trámites debían seguir... "Gracias por el asesoramiento y consejos que nos diste", dijeron los Svenson el Viernes 25 de Noviembre, al anónimo ex-miembro del Small Business & Technical Development Center (SBTDC) que les asesoró hace dos años cuando buscaban ayuda para desarrollar su sueño. Hace un año, tras seis meses de planificación, obtención de licencias, etc. abrieron su salón de belleza "Salon on Central" en Ocean View. En un ambiente cordial, elegante y profesional, Barbara y su equi....
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  • DCRAC's letter about Today & Tomorrow Conference
    DCRAC was a proud Centerpiece Sponsor of the 18th Annual Sussex County Today and Tomorrow Conference “Connections that Work” held on October 26, 2011, at Delaware Technical & Community College. As you would expect, friends can walk in different directions but remain side by side. From our table at this conference, we think some perspectives were missed. The population demographic presentation was slanted toward the panels on health care and tourism that would follow. Nevertheless, important constructs were missing from the presentation that will have significant impacts on Sussex ....
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  • Manufacturer to relocate sales operations to Delaware
    DELMAR, DE (November 2, 2011) – Thompson Pump, a manufacturer of engine-powered portable pumps, will relocate its Pocomoke City, Md. sales and service operations to a newly leased space in Delmar this week. The company will employ 5 full-time workers at the 2,500-square-foot facility, located at 38190 Old Stage Road. The move was facilitated by Senior Advisor John McClellan of The McClellan Team and Sperry Van Ness – Miller Commercial Real Estate in Salisbury, Md. The property was leased from SQ FT LLC. The remaining portion of the building is occupied by B&D Electric. The Delaware E....
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  • Mountaire no comprará Allen's
    En un comunicado de prensa distribuido por Mountaire Farms el 26 de julio, la compañía procesadora de pollo ha anunciado que ha desistido en su intento por acquirir los activos de Allen's Family Foods, que recientemente se había declarado en bancarrota. Todo parece indicar que la oferta de una compañía surcoreana habría sido superior a la de Mountaire y podría ser la nueva propietaria de Allen's.
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  • IRS gives truckers three-month extension; Highway use tax return due Nov. 30
    Washington, DC — The Internal Revenue Service today advised truckers and other owners of heavy highway vehicles that their next federal highway use tax return, usually due Aug. 31, will instead be due on Nov. 30, 2011. "IRS wants to provide equal opportunity to all truck owners to enable them to comply with the law," said Joe Munoz, Spokesperson for the IRS. "In the event that a change is approved by Congress," Munoz concluded. Because the highway use tax is currently scheduled to expire on Sept. 30, 2011, this extension is designed to alleviate any confusion and possible multiple fili....
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  • This ain’t your father’s chamber of commerce!
    When we started the Delaware Small Business Development Center (SBDC) at the University of Delaware, Bill Wyer was the president of the Delaware State Chamber of Commerce (DSCC). Bill was a junk yard dog for business in Delaware. Under his leadership the DSCC fought against any tax increases and invasive regulations, and the encroachment of government into the marketplace. With Bill at the helm, the DSCC was skeptical that a government subsidized service such as the SBDC would do much good. Times have changed. A few years ago the DSCC acquiesced to a 25% increase in Delaware’s gross recei....
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