DEDO engaged AngelouEconomics and Development Counsellors International to identify appropriate strategies to enhance Delaware’s economy and position it for the future through the creation of an Economic Development Strategic Plan.
CASE STUDY: State of Delaware
Case Study: State of Delaware
The Delaware Economic Development Office (DEDO) began its strategic planning process in July 2010 with the intention of changing the foundation of economic development in the State of Delaware. Concerned with maintaining the economic health of the state, DEDO engaged AngelouEconomics and Development Counsellors International to identify appropriate strategies to enhance Delaware’s economy and position it for the future through the creation of an Economic Development Strategic Plan.
Through the planning process, it became clear that DEDO had some success in attracting new employers and growing existing companies. However, like all states, Delaware experience significant employee losses during the recession. In spite of several successes at recruiting new employers to fill these gaps, DEDO saw an opportunity to enhance and refine what it already does well, strengthening entrepreneurship and support to existing businesses and simultaneously capturing new economic development opportunities that have not been core focuses for the state until now.
Through the Market Assessment phase of the project, the AngelouEconomics (AE) team evaluated the business cost of competitiveness in Delaware through elements such as state budget revenue sources, including incorporation revenue, personal income tax, and corporate income tax. Incentives such as loan programs, corporate income tax credits, green incentives, and emerging funds were compared against four benchmarked states to guide the team’s final strategic recommendations and plan development. Noteworthy incentive programs offered by the benchmarked states were also highlighted.
Case Studies in Economic Strategy & Development
Case Study: Jacksonville, Florida
AngelouEconomics recommended a primary target industry of distribution and logistics as well as developed a marketing strategy for increasing the presence of distribution and logistics companies and regional headquarters at Cecil Commerce Park.
AngelouEconomics helped me define New Mexico’s industry clusters but then went many steps further with a marketing plan, contact lists and assistance is setting up strategic meetings. All in all, an impressive effort. AngelouEconomics is a well-rounded firm that excels in strategic development ranging from marketing plans and cluster analyses to economic impact reports for recruitment.
President/CEO Tampa Hillsborough Economic Development Corporation
Former Cabinet Secretary of Economic Development, State of New Mexico