Business
Welcome to New Castle County, Delaware, the place where corporations call home! With more than 60% of the Fortune 500 
companies incorporated in the State, we have earned the reputation of being the most predictable business regulatory environment in the nation. Our Court of Chancery is nationally recognized for its competence in business law. As a result, many leading edge businesses in the pharmaceutical, biotechnology, and financial services fields have chosen to locate here.
New Castle County is the corporate home to industry giants such as the DuPont Company, W.L. Gore and Associates, and Astra-Zeneca, which are all based in New Castle County. Additionally, Bank of America, ING Bank, Bank One, Chase Manhattan Bank, and Amazon have significant operations located here. These companies take advantage of the many attractive assets that make our area an ideal location for conducting business while enjoying a great quality of life.
We offer a progressive tax structure and an ideal location for conducting business. New Castle County's property tax rate is one-third to one-half lower than the rates in the Philadelphia and Baltimore markets. There is no Delaware state sales tax, and the top corporate tax rate is only 8.7%. Our location ( less than a two-hour drive from both New York City and Washington, D.C. ) offers unparalleled access to our nation's centers of finance and government. And with a population of more than half a million people, we offer a high quality of life, reasonable costs, and an excellent environment for business.
New Castle County has it all - location, opportunity, diversity, and connectivity. Come see for yourself why New Castle County is a place where business is valued and companies succeed!
New Castle County - The Business Destination
|
Wilmington & New Castle County, Delaware Lease Rates |
| Rent per sq. ft. per year |
Low |
High |
Vacancy |
|
Downtown Office |
| New Construction (AAA) |
$24.00 |
$28.00 |
50.00% |
| Class A (Prime) |
$26.00 |
$26.50 |
15.00% |
| Class B (Secondary) |
$15.00 |
$19.00 |
30.00% |
|
Suburban Office |
| New Construction (AAA) |
$18.00 |
$24.50 |
N/A |
| Class A (Prime) |
$22.00 |
$27.50 |
8.00% |
| Class B (Secondary) |
$15.50 |
$21.75 |
14.00% |
|
Industrial |
| Bulk Warehouse |
$3.50 |
$5.50 |
11.00% |
| Manufacturing |
N/A |
N/A |
N/A |
| High Tech / R&D |
$6.50 |
$12.25 |
4.00% |
|
Retail |
| Downtown |
$8.00 |
$18.00 |
8.00% |
| Neighborhood Service Centers |
$16.00 |
$20.00 |
6.00% |
| Community Power Center |
$15.00 |
$26.50 |
3.50% |
| Regional Malls |
$45.00 |
$55.00 |
N/A |
|
Source: Emory Hill, 2007 | |
|
|
New Castle County offers business
leaders a special environment that
emphasizes relationships with
government officials and access to
decision makers. We assist growing
businesses to find the resources they
need to thrive and identify site
development locations. |
|
DEVELOPMENT LAND |
LOW
(Price Per Acre) |
HIGH
(Price Per Acre) |
|
Office in CBD (Per Buildable Sq. Ft.) |
$15.00 |
$23.00 |
| In Office Park |
$225,000.00 |
$750,000.00 |
| In Industrial Park |
$150,000.00 |
$450,000.00 |
| Office/Industrial - Non-Park |
$150,000.00 |
$375,000.00 |
| Retail/Commercial |
$200,000.00 |
$750,000.00 |
| Residential |
$35,000.00 |
$225,000.00 |
|
Source: Emory Hill, 2007 | |