NOW OPEN: Delaware opens vaccinations to all in April 3

April 6, 2021 | Vol. 8 • No. 7 | $2.00 | DelawareBusinessTimes.com ENERGIZING DEVELOPMENT HIKE AHEAD? Del. Senate OKs $15 wage 4

GROWING POTENTIAL: Fintech needs are leading to bank hiring 8

ORGULLO LATINO: How the Delaware Prosperity Partnership rewrote Georgetown eyes unique marketplace the state’s economic development model | 16 12

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2 April 6, 2021 | DelawareBusinessTimes.com Vaccinations to open to all

Founded 2014, a biweekly newspaper serving Delaware’s business community Delawareans in April as cases rises Vol. 8, No. 7 dated April 6, 2021 Copyright © 2021 by Today Media, all rights reserved This newspaper or its trademarks may not be reproduced in whole or in part in BY KATIE TABELING any form or by any means electronic or mechanical, including photocopying or recording, or by any information storage and retrieval system now known or hereafter invent without written permission from the Publisher. For licensing, As Delaware saw increasing COVID-19 cases at reprints, e-prints, plaques, e-mail [email protected]. the end of March, state officials announced that all residents age 16 and older will be eligible to receive Group Publisher Robert F. Martinelli a COVID-19 vaccine as of April 6. Gov. John Carney announced March 30 that the Publisher Michael Reath state would open up vaccine access at community [email protected] vaccination events, pharmacies and the state-run Editor Jacob Owens event at Dover International Speedway and Del Tech [email protected] campuses after Easter. The state’s waitlist will open Reporter Katie Tabeling at 10 a.m. April 6. [email protected] You must be 18 years old to receive either the Research, Digital, and Mike Rocheleau Moderna or Johnson & Johnson vaccines, while Engagement Editor [email protected] Pfizer is available to people 16 and older. Gov. John Carney receives a Moderna vaccine dose on March 28 at the Dover International Speedway mass clinic. | PHOTO COURTESY Vice President of Charlie Tomlinson Invitations to vaccine events are dependent on OF GOVERNOR'S OFFICE Business Development [email protected] supply, and will be prioritized through age and other Digital Sales & Karen Martinelli risk factors like medical conditions, according to state Marketing Manager [email protected] officials. Each shot is coveted, as supply is limited of stated fire occupancy requirements, excluding Advertising Director Lisa Minto and the Pfizer-BioNTech and Moderna vaccines [email protected] require two doses at least 21 days apart, compared employees, despite pleas from restaurateurs to reopen the sector. Multimedia Account Carol Houseal to the recently distributed one-shot Johnson & Executives Tracy Mulcahy Johnson vaccine. “Delawareans can shop together, attend sporting events and gather in small groups at home, but a Marketing & Events Leeanne Rocheleau Delaware health officials report that 459,535 doses of the COVID-19 vaccine have been administered as family of more than six cannot dine together, and Production Director Donna Hill of April 1. More than 30% of Delaware’s population more than two friends cannot sit down to happy Art Director Chris Johnson has received at least one shot. hour at a favorite local bar,” the Delaware Restaurant Association said in response to the governor’s order, Graphic Designers Eric Bolis “[This] means that more Delawareans who want Shelby Mills to be vaccinated will have the chance to find a shot,” noting that Maryland and Pennsylvania have higher Rosalinda Rocco said Carney, who received his first Moderna vaccine capacity limits for the restaurants and bars. “It's time Director of Digital Strategy Greg Mathias on March 25. “All three of these vaccines are extremely to reopen restaurants and let families safely dine together.” Publisher Emeritus Sam Waltz safe, and extremely effective against serious illness, hospitalization, and death. I’d urge all Delawareans The governor said he was hesitant to increase indoor Today Media, A Martinelli Holdings LLC to take the first shot you’re offered. That’s how we’ll occupancy right now, as Delaware is experiencing its President Robert F. Martinelli beat this virus, and get back to spending more time highest case rates and percent-positive rates in March. Secretary-Treasurer Richard Martinelli with friends and family.” The state finally saw numbers drop after its post- In Memoriam In early March, the Carney administration had Christmas COVID-19 spike in the past two months. Chairman Angelo R. Martinelli (1927 – 2018) walked away from the phased system of vaccine But Delaware averaged 290 new positive cases per Vice President Ralph A. Martinelli (1962 – 2019) distribution, right as the state was under direction day over the last seven days, according to DPH data Advertising Information from President Joe Biden to prioritize expanding as of April 1. It’s the highest total since Feb. 28. [email protected] vaccine access to everyone in America by May 1. The seven-day rolling average for percentage of 302.504.1276 Carney’s end-of-month met the president’s goal, positive tests is up to 5.2%, which is the recommended Subscription Information but how long it will take to get all interested mark by the World Health Organization and the DelawareBusinessTimes.com/subscribe-now residents vaccinated remains to be seen. highest it has been since Feb. 26. The seven-day 800.849.8751 percent-positive rate was as low as 3.6% in mid- There were more than 99,000 doses remaining March. To submit press releases or story ideas in the state’s inventory as of April 1, according to [email protected] “We’re in the last couple miles of the marathon. the state’s vaccine tracker. We need to run through hard, we need to run through Daily Newsletter As vaccination has increased, Carney also started the finish line,” Carney said at a press conference in Sign up for our daily newsletter, delivered to your e-mail easing outdoor gathering limits and capacity inbox at DelawareBusinessTimes.com/Newsletter late March. restrictions in outdoor venues. Starting April 1, “To do that, we need to do the things we were Events outdoor gatherings in spaces with no fire occupancy instructed to from the beginning — keep social The Delaware Business Times hosts a number of events restrictions are now limited to 150 people instead each year. View the schedule and register for events at distancing, sanitize your hands and most importantly, of 50, or higher with a plan approved by the state’s DelawareBusinessTimes.com/Events wear that mask,” he added. “It’s a small sacrifice to Division of Public Health (DPH). make to make sure that your favorite restaurant Awards That includes outdoor weddings, funerals, concerts, can get back to business with full capacity.” parades, festivals, conventions, fundraisers, sporting To register with the Delaware vaccine waiting list, events and fairs, among other events. Gathering Most Improved Publication 2020 visit vaccinerequest.delaware.gov. restrictions apply in outdoor spaces that do not Stuff Magazine 2019/2020 – Best Ancillary Publication have a stated fire capacity. 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DelawareBusinessTimes.com | April 6, 2021 3 Delaware Senate OKs $15 wage as employers fret

BY TAYLOR GOEBEL Contributing Writer

DOVER – Delaware is one step closer to raising its hourly minimum wage to $15 by 2025, after the State Senate approved Senate Bill 15 on March 18, one day after the Senate Labor Committee cleared the bill following an hours-long public hearing. All 14 Senate Democrats voted for the bill, with some like Sen. Marie Pickney saying “it didn’t go far enough,” while all seven Republicans voted against it. It now sets up a House committee hearing and likely a floor vote in the opposite chamber, where passage is not as assured. While all 14 Senate Democrats co- sponsored the bill, only 18 have signed on in the House of Representatives, with 21 votes needed for approval. State Sen. Jack Walsh (D-Stanton) introduced SB15 on March 9, proposing to raise the minimum wage by more than $1 per year beginning in 2022. Walsh said during Wednesday’s virtual meeting that the bill is “intended to lift Delawareans out of poverty,” adding that many low-income workers “can’t afford a single day off from work at Delaware’s current minimum wage of $9.25 an hour.” If the bill is passed, the state’s base pay would increase to $10.50 next January, then to $11.75 in 2023 and $13.25 in Supporters of a minimum wage hike gather at Delaware Legislative Hall in January 2020. The contentious issue has advanced in Dover this year after the pandemic scuttled last 2024 before finishing at $15 in 2025. year’s attempt. | PHOTO COURTESY OF WALSH OFFICE Private sector advocates and employers raised several concerns over the steepness of the increase, unintended costs and Julie Wenger, executive director of about the bill’s unintended costs. reduced job opportunities during the the Delaware Food Industry Council, a A $15 base pay hike would also force two-hour public meeting, with some $10.50 nonprofit trade organization representing Sherm’s Catering owner Sherm Porter saying SB15 would harm the lower- grocery and convenience stores, said the to raise the wages of all his employees, income workers it is intended to help. Minimum wage beginning minimum wage hike would slash youth including those who make more than “This bill is a Jan. 1, 2022, under SB15 employment, calling Walsh’s proposed $15, out of fairness. choice between rate of increase “radical.” “You have more people going “There will to take into back to work and July 1, with annual increases of 50 cents be fewer jobs consideration all fewer people going until also reaching $15 by 2027. available, including the costs, not just back to work,” The Economic Policy Institute, entry jobs for the cost to raise said Tyler Micik, a nonpartisan think tank based in people re-entering the minimum wage manager of public Washington, D.C., that supports SB15, the workforce as for people who are Tyler Micik policy for the reported that a $15 minimum wage well as students earning under $15 Delaware State would lift the pay of about 122,000 trying to get their Sherm Porter an hour,” Porter Chamber of Commerce. Delaware workers, or nearly 27% Julie Miro Wenger first jobs while said during the The state chamber, representing of the state’s workforce. still in school” if meeting, adding that his employees make thousands of state businesses, opposed Democrats hold a three-fifths majority SB15 passes, Wenger said, adding that at least $12 an hour. the bill, stating that efforts should instead in both chambers of the Delaware be focused on workforce redevelopment General Assembly, lending the party employers such as grocery stores would Not all small employers were opposed and training. greater support this year than in previous be forced to invest more in automation to the bill though. “This piece of legislation is one among legislative sessions when they tried and and less in worker shifts. Ecolistic Cleaning owner Courtney many bills … that would increase costs failed to hike Delaware’s base pay. Gov. While large, national employers Sunborn said during the meeting that all for business owners,” Micik said, pointing John Carney, who in 2019 expressed with a state presence, including employees at her Lewes location will be to upcoming proposals on paid family concerns over raising the minimum wage, Amazon, Walmart and Target, as well making at least $15 by the end of 2021. leave and a state-run IRA program. recently signaled he also may be ready to as Delaware’s largest private employer, None of them currently make below $14.50. If SB15 becomes law, Delaware would sign a renewed push, and has proposed ChristianaCare, have committed to Sunborn, who began her cleaning join several surrounding states, including boosting pay for all state workers to paying their workers $15 an hour, small service company 19 years ago, said paying New Jersey, Maryland, Virginia and a $15 minimum next fiscal year. business owners and nonprofits say the a livable wage is “good for business.” New York, in gradually raising the Still, the unprecedented nature of mandate would have deleterious effects “By paying livable wages, we keep our minimum wage by 2025. the coronavirus pandemic has business on both their workers and their bottom staff turnover very low,” Sunborn said Pennsylvania is Delaware’s only advocates and lobbyists – especially those lines, as many would be unable to absorb during the hearing. “It saves a lot of time neighbor that still follows the federally in the food and hospitality industries – the costs of the proposed wage hike. and money to retain employees who are mandated wage of $7.25, but last month pleading with Delaware lawmakers to William Sullivan, of the Delaware Hotel trained already know our way of doing Pennsylvania Gov. Tom Wolf stated he halt the bill’s passage so that employers Lodging Association, said SB15 will make business. Lower turnover also brings would renew efforts to increase his state’s can focus on recovering from the rehiring difficult for hospitality businesses, increased morale and productivity, “embarrassingly low” base pay to $12 by economic impacts of COVID-19. while some small business owners worried and that’s happier clients.”

4 April 6, 2021 | DelawareBusinessTimes.com Legal pot clears first hurdle as employers seek answers

BY TAYLOR GOEBEL & KATIE TABELING Delmarva Power. While HB150 does allow employers DOVER – A bill to legalize to restrict the use of cannabis while at You’ve got to have some recreational marijuana in Delaware work, the bill doesn’t include language assurance that the cleared the House Health & Human on prohibiting its use after work hours, Development Committee on March 24, James DeChene of the Delaware State employees are, from after business advocates and medical Chamber of Commerce said during marijuana experts voiced their concerns the virtual meeting. a liability standpoint, during a nearly four-hour public meeting. A House committee cleared a bill for recreational DeChene asked lawmakers to ensure operating as safely The committee’s vote marks the first sale of marijuana in Delaware, but employers and that employers are able to regulate step in a long journey for House Bill 150, the medical marijuana industry raised concerns marijuana use in the same way that some as they can. which would allow adults over 21 to buy over legalization’s impact. | PHOTO COURTESY Delaware companies can prohibit tobacco up to an ounce of pot in Delaware, as OF BUDDING/UNSPLASH use for safety reasons, regardless of whether MITCH MAGEE well as open the market to recreational the employee is at work or at home. DSCC Director Global Advanced Manufacturing cultivation, manufacturing, testing and also wants liability protection for employers Technology, PPG Aerospace facilities to shut down or downsize. retail stores. The bill, introduced by Rep. as well as a spot test that can measure They also fear that medical marijuana Ed Osienski, (D-Newark), establishes impairment before lawmakers consider patients may be left on the wayside in on March 24. Mitch Magee, director a 15% tax on all recreational cannabis legalizing recreational pot. the rush to supply recreational buyers. of global advanced manufacturing products. The bill now heads to the DeChene pointed to potential legal Meanwhile, Delaware business technology at PPG Aerospace, said that House Appropriations Committee, as ramifications if an employer wrongly leaders want to ensure they can enforce in his state of California, recreational the costs of the proposal are scrutinized. assumes a worker is under the influence their current zero-tolerance policies on marijuana use has presented some While several Delaware residents of marijuana and disciplines them for it. impairment. That includes Delmarva challenges to determine what is an “I think it opens up the ability for – including retired police officers and Power, which requires drug and alcohol acceptable level of use. medical marijuana cardholders – voiced testing for certain employees, even when an employee to bring suit where the “If you’re doing any work with the their support for HB150 during the they are imbibing after work hours. employer is doing the best that they federal government, in particular, defense virtual meeting, private sector leaders The company asked lawmakers for a can to regulate the use of marijuana contracts, you are required to have a were concerned about workplace friendly amendment that clarifies a in the workplace,” he said. drug-free workplace and I don’t see that regulations and the negative impact zero-tolerance position and allows Legalization also can present more as changing,” Magee said. “If you’re recreational use could have on the employers to make their own policies administrative red tape and questions working with chemical plants when state’s medical marijuana program. on employees’ cannabis use. on how to ensure a safe workplace, you’re dealing with potential hazardous Medical marijuana industry leaders “Employers are best suited to particularly for the manufacturing materials or processes, you’ve got to have fear the bill will exacerbate an existing determine what policies are needed sector, as top business leaders discussed some assurance that the employees are, oversupply of product and further for their unique workplace,” said Anne at the Delaware State Chamber’s from a liability standpoint, operating saturate the market, forcing existing Farley, a consultant who spoke for Manufacturing and Policy Conference as safely as they can.”

DelawareBusinessTimes.com | April 6, 2021 5 Forward Delaware initiative set to graduate first cohort

BY KATIE TABELING

Like many young adults, Mubarak Onaneye did not have a career in mind but he did have an interest in technology and computers. While working at Five Below in Christiana, he decided to explore opportunities out there in the tech sector. “A job wasn’t something I thought of when I was growing up. At one point, I wanted to be a dental hygienist, but once I realized the training needed for that, that was off,” said Onaneye, 21. “But my sister knew I was into tech stuff, so she recommended Tech Impact, and said it was perfect for me.” He was in one of the last in-person classes that Tech Impact, a nonprofit focused on IT training and certification programs, held before COVID-19 hit. All of his classes went remote, and while Onaneye finds online learning hard, he graduated from the IT Works program. Onaneye works at Tech Impact’s Community Help Desk, offering IT support to students, teachers and parents in the Indian River School District. He’s studying for the CompTIA A+ exam to get an IT technician certificate to level up his career. “This program is definitely important, because there’s classes assigned Chromebooks and students as young as 6 who are learning how to use it,” he said. “I think this kind of technology will be around for a while.” Tech Impact is one of a handful of Mubarak Onaneye is now working at Tech Impact’s help desk for Delaware Schools, a partnership fortified by Forward Delaware. | PHOTO COURTESY OF TECH IMPACT organizations offering free workforce development programs through Forward Delaware, a CARES Act-funded Castle County VoTech; Polytech Adult division to help… and revamping that DWDB’s existing infrastructure, Potter initiative to retrain thousands of suddenly Education Division; and the American process to help people keep a roof over said that IT and hospitality jobs were unemployed Delaware workers. The Driving Training Academy. their head and food on the table is sectors added to the program based program offers certification programs Up until August, the state focused an enormous task.” on market research. that run for 20 weeks or less. much of its $927 million CARES Act Behind the scenes, much of the “Hospitality and tourism had gotten allocation to unemployment insurance groundwork by the DWDB looked like beaten up pretty bad with the fluctuating activities. But that changed after normal years, except time was of the capacity limits. IT is another big go-to Gov. John Carney signed Executive essence. Traditionally, the DWDB uses for us, because technology crosses over We try and sculpt the Order 43, which authorized the state’s its annual federal funding allocation with almost every industry at this point,” workforce by figuring Department of Labor and the Workforce either to buy a cohort of seats for training Potter said. “We try and sculpt the Development Board to create an initiative or on a seat-by-seat basis from secondary workforce by figuring out what’s needed.” out what’s needed. to get unemployed and underemployed education institutes like Delaware While it may be too soon to say Delawareans working again. Technical Community College or private whether Forward Delaware will continue BILL POTTER By the time the governor’s pen inked sector providers like the American Driver after this first cohort leaves class behind, Executive director of the Delaware that order, the Delaware Workforce Training Academy. Potter said he plans on taking the lessons Workforce Development Board Development Board (DWDB) was Trainers with a solid reputation and learned from the experience and applying ready to spring into action. focused on in-demand industry sectors them forward for the next iteration of the “When it became apparent to us that — as mandated by Carney’s executive state’s workforce placement program. It was formally launched in October the economy was going to go upside order — with an ability to scale up class One thing he hopes the business at a time when the state managed to add down, we started having these calls every sizes were awarded contracts. community takes away from the back more than half of the 74,700 jobs Thursday morning at zero dark thirty “In Delaware, the No. 1 skill training experience is the camaraderie without lost at the pandemic’s onset. with industry thinkers about what’s next.” that’s in high demand is truck driving, the competition. In the past, training There are roughly 1,239 students — DWDB Executive Director Bill Potter because it’s a well-paying job that can get contractors can get cutthroat to land maybe more, as the data is slow to update told the Delaware Business Times. “Then turned around with certification between state contracts, but through Forward — wrapping up their programs right we were having calls at night to make six to eight weeks, and someone has to Delaware, he saw other contractors now and ready to start their renewed decisions on contracts with trainers, and drive around the products,” Potter said. recommending rivals to help make job hunt. These students are sharpening then we would do it all again at 6 a.m. “Some other sectors just made sense, like the program hit the needed criteria. their skills in construction and the trades; to figure out the next steps. Nobody health care. That was a crushing need “Just watching the providers work hospitality; logistics and transportation; squawked or whined about it.” because those workers are getting tired.” together blew me away. People who health care and information technology “Because they knew what it meant to Hiring trend surveys were conducted run businesses, they’re competitive, (IT). Participating organizations get it done,” DWDB Deputy Director with businesses and unemployment data because they want to win. And for this, include Code Differently; Tech Impact; Robin McKinney Newman added. “We analyzed to see what sectors and skills they chose to leave their self-interest Zip Code Wilmington; the Delaware had so many staff from other divisions were shedding jobs at the time. While behind them for the common good Restaurant Association; Del Tech; New sent to work in the unemployment Forward Delaware is built on much of of Delaware,” he said.

6 April 6, 2021 | DelawareBusinessTimes.com Carney aims to use stimulus to support training, development

BY KATIE TABELING “From a budget point of view, we are ready to accelerate out of this pandemic,” WILMINGTON — With Carney said. Delaware set to receive $1.25 billion The extra federal funding may be able from the American Rescue Plan to pave the road for a strategic plan to stimulus plan, Gov. John Carney told streamline development in Delaware, state manufacturing leaders that his although Carney did not say what that administration would be exploring may entail. avenues to fuel the First State’s economy. “When we’re talking about two years to “Our focus will be making further spend some of [the ARP] money, it can investments in our economic infrastructure take you two years to get through plant that do not bring additional costs with it, engineering and architectural work and making Delaware more competitive so permitting for construction, start to finish, that we can compete and win every day,” of a project of any size,” Carney said. “We the governor said during the Delaware appreciate any help that we can get. We Gov. John Carney is reportedly looking to use some of Delaware’s stimulus funds to support economic State Chamber’s Manufacturing and need significant help in the private sector, development. | PHOTO COURTESY OF GOVERNOR’S OFFICE/JASON MINTO Policy Conference on March 24. particularly in the construction sector, The American Rescue Plan (ARP) to get those projects done.” manufacturers will need to fill 4.6 million of manufacturing jobs. stimulus that President Joe Biden signed Carney also hinted that he was also jobs, but 2.4 million will go unfulfilled by “If the image of an assembly line is earlier this month has made headlines looking at shoring up workforce training 2028 unless the workforce is trained to what they have, I can understand that,” for pushing $1,400 directly to many initiatives like Forward Delaware, on meet them, according to a 2018 Deloitte Lee said. “We have to show them the Americans. But the $1.9 trillion package which the state spent $10 million of skills gap study. That would result in a reality of modern manufacturing, get also helps state and local governments federal CARES Act funds. Forward $2.5 trillion gross domestic product them excited about the technology and continue core services, like unemployment Delaware brought various nonprofit and loss for manufacturing firms. let them know that there’s a place for insurance, and funds another round of the other organizations together to provide Carolyn Lee, executive director of The countless skills, from designers to coders Paycheck Protection Program along with certification training to help residents pivot Manufacturing Institute, a nonprofit to technicians. I’ve seen robots that you new loan programs for restaurants and to a new career or sharpen their skills. advocate for manufacturing, encouraged can control with a smartphone across event venues. “We’re going to take another look at business leaders to look into programs the country, virtual technology and But Delaware emerged from 2020 in it and [add] manufacturing. It’s a good and partnerships to upskill the workforce 3-D printing is now routine.” comparatively good standing, as fiscal opportunity to work with people to during her keynote speech. She To win over hearts and minds in analysts recently lifted the state’s spending come up with some kind of certification commended Carney for his investment in the manufacturing sector, Lee pushed limit to $5.4 billion for the next fiscal year. program that really meets the needs of workforce training initiatives, but added business leaders to open up their shops Carney is looking at a record-breaking manufacturers here in Delaware, whatever that manufacturing still has to overcome and let people see what they do. $4.7 billion Fiscal Year 2022 operating they might be,” the governor said. a bad reputation. She noted that only “The change starts locally, and you budget and $894 million capital budget. In the next decade, American 27% of parents have a positive perception can be that change,” she said.

DelawareBusinessTimes.com | April 6, 2021 7 As fintech grows in Delaware, so does its potential

BY JACOB OWENS

WILMINGTON – The city skyline has been dominated by the names of some of the country’s biggest banks for decades, but a growing number of those employed by them are not traditional bankers and loan officers. The growth of financial services technology, or so-called fintech, has led to a boom of high-tech jobs in Delaware that look more like something one might envision at Google than WSFS Bank. Corynn Ciber, chief digital officer at WSFS, explained that the regional bank is using technologists to help modernize its processes. Corynn Ciber She heads the bank’s three-year Delivery Transformation Program, which kicked off following the acquisition of Philadelphia-based Beneficial Bank in 2019. “We know that we could get to a place where when a customer walks into a branch, somebody in that branch already knows why they are there. We know we can get there,” she said. That technological leap will likely be assisted by artificial intelligence (AI) that will help WSFS provide a more efficient experience for associates and customers, Delaware’s financial services companies are increasingly in search of fintech technologists to help modernize their systems. | PHOTO COURTESY OF ARIF RIYANTO/UNSPLASH and in turn making the bank more competitive. “Not necessarily to compete with the as well as from Delaware’s universities years on a particular product or challenge bigger banks, but certainly outperform every year. and then transfer to something new, other banks our size,” she said. This workforce development will only Rogerson added. We know that we could In the same city, JPMorgan Chase, the grow with the opening of the FinTech “There is a ton of growth and mobility get to a place where when largest bank in the country, is looking to Center at the University of Delaware’s for them inside what is a very large tech similarly utilize technologists to push its STAR Campus. The $38 million joint organization,” she said, noting that the a customer walks into a products and services into the future. project between Discover Bank, the majority of her technologists – about Diane Rogerson, Delaware Technology Park and the 2,200 of the 3,300 in Delaware – are branch, somebody in that the site leader for university is on schedule to open based at Chase’s Powder Mill Road branch already knows Chase’s Delaware by the end of the year. campus in north Wilmington. Others Tech Center and In addition to WSFS and Chase, are spread out to cover division needs why they are there. We the company’s M&T Bank, Capital One, Barclays, at offices across New Castle County. know we can get there. managing director Bank of America and Citibank are At WSFS, technologists working at of technology also looking to hire technologists. the bank’s Wilmington and Philadelphia CORYNN CIBER risk, controls and Chase has hired over 200 Zip Code offices have been streamlining processes Diane Rogerson cybersecurity, graduates since 2015, including more than and building a customer information Chief digital officer at WSFS explained that 30 last year amid the pandemic. WSFS database to improve marketing efforts Chase is exploring the use of machine has hired scores too, and Ciber is filling and customer service. learning and AI to pre-emptively 18 positions on her initiative this year. In one example, Ciber explained that a view to our leadership team,” she said. anticipate a customer’s needs, such as Rogerson explained that while some customer looking to pay off a loan could While WSFS remains committed to calling into customer service soon after technologists are working on ideas have that request handled by several its brick-and-mortar presence in the a late payment fee was issued to an of tomorrow, many are busy ensuring different departments and teams within communities it serves, Ciber said that account to get a first offense waived. that today’s programs are responsive to WSFS’ lending operation, taking three its growing technology focus will aim to “You might never talk to a human and, customer needs, ranging from deposit to five days to ultimately be completed. meet consumers in new ways, especially in less than 60 seconds, you’ve resolved accounts to credit cards to loan servicing. The bank is looking to use technology after many of them complete banking your concern because on the back end, “We have thousands of applications to streamline the approval process and online through the pandemic. we can see your transactions, we can in JPMorgan Chase that need to cut down on the time to completion of “We’re trying to expand the number see your charges and fees, and machine be modernized. Rewriting and re- such requests, she said. of products that customers have with learning will anticipate what you’re engineering that code is a mountain of Ciber said that the bank’s needs run WSFS and change the ways in which we actually calling us about,” she said. work that will keep our Java programmers the gamut on technical knowledge but offer those products,” she said. “2020 has While these tasks are still ideas under busy for quite a number of years,” she said. are above an entry-level position. changed the way in which many people development, Delaware’s financial Recent hires have worked on Chase’s “While we’re hiring people with bank. It has modified the need for how services companies are hiring dozens of mortgage origination and online credit coding skills right now, I also need many times people go to the branch technologists from local coding camps card application processes. With an people who are wicked smart in and what they go to the branches for, so like Zip Code Wilmington, Tech Impact, operation as large as Chase’s though, it Microsoft Power BI, so they can create we need to be able to provide banking Code Differently, and Tech Elevator is common to spend a few months or dashboards, run reports and provide that differently in the post-COVID era.”

8 April 6, 2021 | DelawareBusinessTimes.com Wilmington credit card company rebrands, eyes growth

BY JACOB OWENS to double our growth,” she said. Part of Mercury’s growth plan comes WILMINGTON – CreditShop, the via co-branded cards, such as the nation’s largest non-bank credit card agreement it struck with low-cost airline company, has rebranded to Mercury Spirit Airlines in February. While Bank of Financial as the small company eyes America serves prime credit customers for increasing its market share among Spirit’s co-branded credit cards, Mercury so-called “near-prime” customers. will now target a group of customers that For Mercury, the the larger bank avoided. Vicente said 8-year-old company Mercury is in the midst of discussions with operations with a number of travel and entertainment split between companies about similar products. Wilmington and “The next phase for our growth and Austin, Texas, development is to look at how we can the new name become a complimentary lender for these comes from its loyalty programs that want to reach the James Peterson flagship product, near-prime audience,” she said, noting the Mercury that success with Spirit’s program could Mastercard, launched in 2017. Mercury Financial is the largest non-bank credit card company and it’s experiencing explosive growth in targeting lead to other opportunities in which “As we did the research behind the “near-prime” credit customers. | PHOTO COURTESY OF MERCURY FINANCIAL Bank of America is involved. CreditShop name, it wasn’t quite as Mercury employs more than 80 inspiring as we wanted it to be. So, people in Wilmington, working out of given the strength of our brand and “prime” levels, among other factors, or having a sickness in the family that the STAR Building on the Riverfront. how far we’ve grown it, we decided Vicente said. caused very high medical bills.” Vicente said that the company recently that we wanted to use the Mercury “We’re talking about those people Vicente said that Mercury’s proprietary expanded its lease across an entire floor name to reinforce our products in who have actually had a financial software assesses applicants on a variety of in the building and refurbished the the marketplace,” Sisy Vicente, the setback. They have a very hard time factors, including employment and recent space in preparation for the staff ’s company’s product and marketing getting approved for credit from payment history despite previous troubles. post-pandemic return. officer, told Delaware Business Times. other bigger players,” she said. “Life The company has about 600,000 “We want to grow our employee base As part of its renewed focus under happens, and what we’ve understood current cardholders and experienced in line with our growth targets for the CEO James Peterson, who took the from our customers is that a number about 50% growth over the past year as company,” she said, noting that the helm in late 2019, Mercury is targeting of the setbacks are really caused by life many consumers turned to credit cards roles in Wilmington already span the its offerings at those with credit scores events, like losing a job, which has been to buy goods online or pay bills. gamut from operations to marketing between 600 and 700, or just under especially prevalent during COVID, “In the next couple of years, we’d like to customer service.

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DelawareBusinessTimes.com | April 6, 2021 9 Influential state health care board’s future uncertain BY KATIE TABELING

With two failed proposals — one to recommend disbanding the Health Resources Board (HRB) and another to continue it with changes — the Joint Legislative Oversight & Sunset Committee is at impasse on how to move forward on the powerful health care regulator. One thing is clear after March 25’s two-hour-long meeting: legislators were troubled by the HRB’s processes. “This is a stark reminder to the HRB that we will be watching. Based on what they are doing, we had members of the Sunset Sen. Brian Pettyjohn Committee vote that they should be discontinued,” Sen. Brian Pettyjohn (R-Georgetown) said during the committee hearing. “It’s a good reminder for the HRB that there’s a lot of disappointment in what they’re doing.” The Sunset Committee tabled the issue Although state lawmakers agree that Delaware's Health Resources Board has issues to be resolved, they differ over whether to dissolve the board, lessen its authority, or leave for further discussion and consideration. it as the chief health care investment regulator. | PHOTO COURTESY OF ARTUR TUMASJAN/UNSPLASHED Legislative analysts issued a report that recommended downsizing the HRB to five members and turning it and committees if they are deemed to Pettyjohn also pointed to his district’s market would not serve patients in into an advisory board, directly reporting no longer be functioning effectively. But growth in sports facilities, raising the bar need. She pointed to other markets, like to a state-appointed director. It also before forging on with recommending for immediate access in case of a sports Philadelphia, where a revolving door of recommended adding staff to conduct changes to the HRB, the committee injury. In some parts, the closest emergency for-profit facilities open and close if they independent research on applications, failed to vote on continuing the board room can be 20 to 30 minutes away. do not meet the bottom line. instead of relying solely on applicant at all. Rep. Sherry Dorsey Walker “Adding to that, Georgetown’s not “I still believe data, as well as raising the expenditure (D-Wilmington) was the sole Democrat the wealthiest area of Sussex County. If there is a purpose cap to trigger a review. who voted to end the board. you’re talking about providing services and need for HRB Legislators spent much of the two- where they’re needed, that hasn’t always … 21st century hour meeting criticizing the HRB for happened,” the senator said. health care doesn’t It’s a good reminder for attendance issues that complicated many The HRB’s decision to deny Beebe mean no oversight of its decisions and ultimately stood in Healthcare from expanding in 2019, or review, because the Health Resources the way of expanding health care access which led to Bayhealth withdrawing I’m not so sure that Board that there’s a lot throughout the state. Before the meeting, a similar application, was repeatedly Dr. Nancy Fan within our state lawmakers received several comments criticized throughout the meeting. that market forces of disappointment in from the public. The HRB review subcommittee later will be able to align access with need,” Both Pettyjohn and Rep. Lyndon recommended denying Bayhealth’s Fan said. “If we don’t have something, what they’re doing. Yearick (R-Camden/Wyoming) pointed hybrid facility last year, but it was then you can have a for-profit facility overruled by the whole board. to the skyrocketing population growth come and say they fill a need, and then in Sussex County, particularly among HRB Board Chair Brett Fallon, who had SEN. BRIAN PETTYJOHN take it away. It can be a slippery slope older residents. to recuse himself from those past votes, said Member of the Joint Legislative for what happens in the future.” If the HRB were to continue, it would the board’s concern was that both Beebe Oversight and Sunset Committee Sunset also need to put the board’s 2009 ban on and Bayhealth were looking to bring ERs, Committee Chair new acute care facilities into law, which which might have driven patients of all Sen. Kyle Evans Delaware requires the HRB to review Yearick argued would put the state in ailments to visit and face higher bills. Gay (D-Elsmere) all health care projects costing $5.8 trouble today. “Emergency rooms tend to be used for said that through million or more, making it among the “Could you non-emergency uses from time to time, lowest in the Mid-Atlantic region. imagine if the and [ER] visits would cost multiples of this review she Maryland set its cap at $50 million, board declined an urgent care center visit,” Fallon said. gained insight while New York’s falls between acute care facilities “Your messages are loud and clear and that the HRB was Sen. Kyle Evans Gay $15 million and $30 million. and expansion understood.” critical in looking Other recommendations include of beds five years Others like Rep. Jeffrey Spiegelman at each area of appointing a health care economist to ago? That would (R-Clayton) pointed out that the HRB Delaware and pinpointing need, rather the advisory board, adding a full-time have negatively was the first approval that a health care than relying on market forecasts. employee to independently research Rep. Lyndon Yearick impacted the facility needed, and it is not the only one. “I think we need to understand that applications and maintaining a statewide possibility In order to open health care facilities, people are not widgets, and we often database on health care statistics. It was to serve people at the peak of the it would still need to meet state health need to understand that we need to serve also suggested to require health care pandemic,” Yearick said. “And pandemics care license requirements and local them where they are and we need to have companies to report more frequently do come back around. Ten years ago, zoning requirements. services that can reach them,” Evans Gay how services are used. acute care facilities had this line in the But Delaware Healthcare Commission said. “What I have come to understand is The Sunset Committee is tasked with sand for territory, now the gloves are off. Chair Dr. Nancy Fan said the criticisms how the board makes sure that we aren’t making a recommendation, if needed, on We’re seeing two primary care facilities were valid, but argued that leaving just bringing in care that is going to be how to change the state’s various boards make aggressive moves.” the health care industry to the free profitable.”

10 April 6, 2021 | DelawareBusinessTimes.com SPOTLIGHT: COMMERCIAL REAL ESTATE BPG reports strong 2020 leasing despite ongoing pandemic

BY JACOB OWENS that foot traffic at BPG’s DECO Food Hall in downtown Wilmington WILMINGTON – With offices has been ramping up. “We’re seeing You can feel the emptied, restaurants and bars struggling every single week that the revenue increased level of amid reduced capacity and an uncertain goes up [at DECO], and that is a direct outlook for what the post-pandemic indicator of who’s coming back to work.” vaccinations and so “normal” will look like, it would be Buccini would know, as the firm was understandable for Delaware’s largest among the first to fully return staff to we’re starting to see landlord to be worried about the state BPG signed several leases at the Brandywine Building offices last June. They had hoped to stress people come in. of the commercial real estate market. on North West Street last year despite the pandemic’s test what their tenants would face when Instead, the impact.| PHOTO COURTESY OF CBRE they hopefully returned to offices around CHRIS BUCCINI Buccini/Pollin Labor Day 2020 – a target that came Co-President of BPG Group (BPG) Chris Buccini, co-president of BPG and went as the pandemic continued. signed leases for who leads its commercial leasing practice, “I think we were literally the only nearly 1 million said that the firm has overwhelmingly office that had everyone there,” he said of landlord in the city of Wilmington. Its square feet of space seen tenants looking to keep their space, their 110-person central office staff. “As residential leasing also held up well last companywide but renew for a shorter period of time. an office landlord, we wanted to be up year, with its units 90% occupied right worth about $300 Those renewals, often for three years, there serving and leading from the front.” Chris Buccini now, Buccini. It’s preparing to open several million over the give large corporate employers time to Buccini credits that move with the hundred more units at The Cooper in the 12 months of the bring staff back, assess their future needs reason why they were able to continue a Lower Market community after adding pandemic. In Delaware, BPG notched and negotiate a future, longer lease. robust sales year despite the pandemic. 200 to the DuPont Building last year. 459,000 square feet of leases worth about “I think you’re going to start seeing While layouts may change for future With major employers like Goldman $80 million – more than the firm signed people come back into the office in April- workplaces and density may decrease to Sachs beginning to put roots in the city in Pennsylvania, where it has considerable May-June time frame, but the majority will levels seen decades ago in an effort to lessen and the “Biden effect” of having the holdings in Philadelphia and Pittsburgh. come back in the summer,” Buccini said. the risk of transmitted viruses, Buccini presidential connection here delayed The signings in Delaware include a 10- About 25% of BPG’s tenants have believes that ultimately most employees by COVID-19, Buccini said there are year lease by Marlette Funding, owner and returned to offices, Buccini estimated, but will return to offices post-pandemic, both plenty of reasons to remain bullish on operator of the Best Egg consumer lending added that the momentum is building. because employees will tire of working growth here. platform, for 60,000 square feet at The “We see it literally week by week. from home and that employers will want “When you really peel away and look at Concord north of Wilmington, to a nearly You can feel the increased level of to strengthen their corporate culture. the underlying fundamentals of the office 69,000-square-foot renewal by Citibank vaccinations and so we’re starting to That would spell good news for BPG, market and Wilmington, it really is strong in the city’s Brandywine Building. see people come in,” he said, noting which is also the largest residential for the next few years,” he said.

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DelawareBusinessTimes.com | April 6, 2021 11 SPOTLIGHT: COMMERCIAL REAL ESTATE Latino marketplace may aid Georgetown revitalization

BY KATIE TABELING

GEORGETOWN — Social activists and entrepreneurs are reimagining downtown Georgetown as a marketplace with Latino cultural flare in hopes to give the county’s seat a new destination born from its growing Latino population. The proposed Plaza Latina de Georgetown calls for developing a vibrant commercial corridor, with North Race Street as its cornerstone, through redesign and providing opportunities to the Latino business community. Mary Dupont, a member of the Delaware Hispanic Commission and economic development consultant, and other Sussex County business leaders are the driving force behind the plan. “It’s the right time and the right place,” Dupont told the Delaware Business Times. “About 30% of Georgetown’s population is Latino, and with retirees, it’s the largest growing demographic in Sussex County. They’re entrepreneurial and they don’t look for help. If we provide that opportunity to help this community to reach its full potential, it’s not just them that will benefit, it’s the entire city.” While Georgetown City Council In Sussex County, the Latino population pays $50 million in taxes. tabled its vote to support Plaza Latina Advocates hope a Plaza Latina would buoy Georgetown’s economy. on March 24, Dupont is confident that PHOTO COURTESY OF PLAZA LATINA plans will move forward with the support of the city and several business leaders who have reached out. online marketing training, English as a them throughout the state. The result The project would take a three- second language course, and technology was “Stand By Me,” a financial coaching pronged approach to economic and literacy. Nonprofits and community program. community development: revitalizing organizations can also help grant access Over time, Dupont said much of her Imagine a cobblestone Race Street, expanding business and to loan programs. work became focused on Georgetown community services, and creating a Since Georgetown is in an and its rising Latino population, so the walking street lined with business association. Opportunity Zone and in a Downtown state and its partner, United Way of North Race Street is already Development District, incentives can Delaware, created Stand By Me Hispano arches, flags, fountains, the commercial hub of the Latino help subsidize revitalization efforts. To to address specific financial issues the outdoor dining, and community in Georgetown, but fund business services, Plaza Latina will Latino community faces. Plaza Latina would oversee major tap into grants and solicit donations for “That’s how we started working with street art with a Latin redevelopment to bring more cobblestone the Plaza Latina Fund at the Greater La Esperanza and Charlie Burton, who and Latin American architectural Lewes Foundation, was on the board at the time,” Dupont American flavor. features and streetscapes. An archway Finally, forming a Plaza Latina Business said. La Esperanza is a bilingual non- on Race and Market streets would Association would create a network for profit in Sussex County that offers JAVIER TORRIJOS welcome pedestrians. business owners to find support and share immigration counseling, family coaching, Plaza Latina board member The Plaza Latina organization would resources. Over time, this association and resource navigation services. also acquire and renovate properties to would partner with other chambers of Years ago, Burton floated the idea of have commercial space on the ground commerce and business groups. a marketplace to Dupont, celebrating floor and apartments on the second floor. “This program is designed to help the Latino community while drawing 68% of the Latinos in Sussex County The hope is that with this new design build capacity for Latino business in more opportunities for retail and are employed, compared to 56% of the and more business, the corridor will owners in Georgetown,” Dupont said. restaurants. The idea “resonated” with general population,” Dupont added. become a destination for visitors driving “In turn, that helps their families and her, but she put it aside to continue From a business standpoint, a survey in or biking minutes away from Lewes. achieve the American dream. But it also her work. Now retired from the state found that 67 licensed businesses in “Imagine a cobblestone walking creates opportunities for all businesses, government and seeing the population Georgetown and 800 in Sussex County street lined with arches, flags, fountains, because as business grows, so do jobs. keep growing, she said the need has are owned by a Latino resident. Key to outdoor dining, and street art with a Everyone knows that the greatest growth become too great to contain. Plaza Latina’s success is to turn renovated Latin American flavor,” Plaza Latina in our economy comes from business Sussex County’s population of hispanic properties over to business owners who board member Javier Torrijos said in development.” residents is 22,357, and it’s projected to would run operations there. a prepared statement. “Thousands of Plaza Latina, in essence, is born rise 53% by 2050. Georgetown alone has “They would become vested members people will visit Georgetown to enjoy out of the Delaware connection. 39.5% of the Latino population, Dupont of the Georgetown community, these Latino food and culture.” After launching Nehemiah Gateway said, and many are from Mexico or are people who want to make it here,” To lift the business community, Plaza Community Development Corporation, Guatemala. she said. “The plaza would build that Latina will also offer business and an organization focused on financial “The Latino community contributes innate capacity, help those businesses personal finance programs. That would stability in low-income communities, $50 million to Sussex County in taxes. to grow and help the community to include financial coaching, business plan then-Gov. Jack Markell tapped Dupont A study done by the Delaware build personal wealth, investment development training, social media and to take those principles and expand Community Foundation shows that and pride in their community.”

12 April 6, 2021 | DelawareBusinessTimes.com SPOTLIGHT: COMMERCIAL REAL ESTATE Seaford lands Amazon project, business park developer

BY KATIE TABELING but most of its investments have been focused on Maryland’s Eastern Shore. SEAFORD — March was a big Last fall, the company broke ground on month for the former “Nylon Capital one of its first Delaware investments: of the World.” Duck Creek Business Campus in First, Amazon announced it would Smyrna. continue its Delaware expansion by For the proposed $7 million Western leasing out a former DuPont warehouse Sussex Business Campus, lack of as a last-mile delivery station for rural infrastructure was the biggest hurdle parts of the state. Then days later, the for prospective tenants since it is raw city council signed a deal with KRM farmland at the moment. Sussex County Development Corp. to build the first officials agreed to a deal with Seaford four lots of the future Western Sussex officials to jointly spend $1.88 million Business Campus. NAI Coastal bought a Seaford warehouse for $7 million in late 2020. Now it will be the site of the latest Delaware on the first phase of infrastructure. Amazon expects to bring “hundreds” Amazon facility. PHOTO COURTESY OF NAI COASTAL Both Amazon and KRM are poised of full and part-time jobs, while the to breathe new life in the Sussex County Western Sussex Business Campus is city, as Seaford used to be a true DuPont poised to bring up to 1,100 jobs once of developer Gillis Gilkerson that struck last-mile projects in Newport and town as “The Nylon Capital of the it is completely built out. the deal, has drafted preliminary site Delaware City. World.” Genshaw said when he was in “I feel the need to thank God for His plans to expand the parking lot to 423 Meanwhile, KRM Development Corp. high school, students wanted to work blessings upon our town,” Mayor David vans and 150 employee parking spots. will buy 44 acres of land in the Western at one of its several offices and make a Genshaw said during a city council The Seaford location is part of the Sussex Business Campus for $536,760 — living wage. But once DuPont slowly meeting in March. “We have been truly e-commerce juggernaut’s latest endeavor: about $12,000 per acre — from the city. started to leave, eventually shutting down blessed during a difficult time with these last-mile delivery stations in rural Under the deal, KRM would have the the nylon plant in 2004, it left people two very huge projects. A lot of people America. Packages arrive at these stations first right of refusal to buy the remaining looking for work and empty buildings have worked very hard on this, and from fulfillment or sortation centers parcels and it is required to build at least in its wake. God has moved in a big way.” and are loaded into vehicles for delivery. one 50,000-square-foot spec building “I do think the pandemic has Amazon announced it would lease out Amazon has 250 of these last-mile within 18 months. really inspired this interest in the 107,000 square feet of 1700 Dunlay St., a delivery stations nationwide, and the KRM Development, the real Eastern Shore. We have more space former DuPont nylon warehouse. Terms retailer is looking for more locations as estate arm of Dixon Group, based in to accommodate and we can have of the lease were not disclosed, but NAI the COVID-19 pandemic accelerated Chestertown, Md., has investments in affordable prices if we just have Coastal, the commercial real estate arm sales. This year it also announced Georgia, Texas and North Carolina, the inventory,” Genshaw said.

DelawareBusinessTimes.com | April 6, 2021 13 SPOTLIGHT: COMMERCIAL REAL ESTATE Pandemic-spurred virtual home tours may be here to stay

BY KATIE TABELING

Realtors leaned heavily on video and virtual tours throughout 2020, and those tools may have cemented themselves in the industry even as the state resumes business as normal. “This isn’t going to go away. You’re having clients that want to see more, and that’s what is really driving this push,” said Mia Burch, the 2021 president of the Delaware Association of Realtors. “That’s how it’s always been when it first started with photos years ago. Then clients wanted high-definition images, then aerials to see the whole property. If you’re listed with no pictures, you might as well be out of the game. If anything, video will enhance listings.” Photography and videography services often are behind the scenes in the real estate industry, especially in a social media age. These days, there are firms that can take staged photos or cinematic videos of homes for real estate agents to post online or share with clients in email, film drone video of the property, or offer Matterport, a 3-D camera system that can create entire floor plans. When real estate agents were first deemed “not essential” in the early days 3D Photo Media owner Radenko Ivanovic typically completes 150 assignments per year, but demand skyrocketed during the pandemic as real estate agents leaned heavily into of the COVID-19 pandemic, showings virtual tours. | PHOTO COURTESY OF 3D PHOTO MEDIA dropped and homes were being taken off the market. But for professional photography firms like Wheeler Home Concepts. “Eventually 90% of our listings does real estate photography part time and settle on New Castle County homes Concepts, there was high demand for with clients were using video and virtual. now. “For whatever reason, people aren’t sight unseen, and Zebley said he’s seeing video and virtual tours as home-buyers That gradually started to drop down coming into the model house anymore. much of the same in central Delaware looked for safe alternatives to open houses. to 30% when the state reopened.” Matterport technology can also give and Lewes. The number of homes sold in 3D Photo Media owner Radenko a sense of dimensions for windows Delawareans may feel more Delaware that used virtual tours Ivanovic said that typically he completes and walls now, and you can even comfortable with an in-person saw a 30.4% increase in 2020 from under 150 photography or Matterport add furniture now.” walkthrough, but with a sellers’ market, 2019, according to data provided by assignments a year, but he dealt with But even as professional video and Burch said those from out of state may Bright MLS, a multiple listing service double or triple the normal volume in photograph business rose, real estate bid 15% to 20% more with cash based covering Delaware, five other states and 2020. It got to the point where he had agents also relied heavily on Facebook on what they see on video. Washington, D.C. Year to date, 2,023 agents cancel on him a day before a Live and video chat options for an “New Castle County was slammed homes in Delaware have sold with shoot because the house sold before authentic tour. Beau Zebley, realtor with with out-of-state buyers, and the main virtual tours as part of their listing. he could get there. Century 21 Emerald in Millsboro and motive is that property is cheaper in “When the pandemic happened, “Most of the increased requests Lewes, said that typically he works with Delaware and taxes are lower,” said came from construction companies we saw a huge uptick in clients looking military clients who have to find a new Burch, who is an associate at Long & for video and virtual,” said Joshua so I can scan their model homes and home within short notice, so he’s familiar Foster in Greenville. “It’s not so much Wheeler, owner of Wheeler Home clubhouses,” said Ivanovic, who only with emailing video walkthroughs to of the fear of what they’re not seeing in clients to narrow down the list. But then the house, but that inventory is so low he stepped up his game with Google right now they’re worried about being Duo and Apple FaceTime with clients outbid so they have to act fast.” who were tethered to military bases. The mass migration of these New “The craziest was an Air Force major Yorkers and New Jerseyans might be who didn’t see the house in person until four days after settlement,” Zebley said. triggered from work-from-home, Zebley “My goal is to find out everything that’s said. With more people realizing they wrong with a house, because you get don’t have to come to the office every nowhere if you sugarcoat it for clients, day, they want more room for less money. and sometimes professional videos leave He believes that trend will continue that out.” to fuel the upward trend of video and That can run the gamut from whether virtual tours in the long run. the selling homeowners smoked in the “People really like remote work, and at house, the colors of the walls, issues with this point, they’re really used to it. Video cabinet doors or laminate countertops tours probably won’t go away because the instead of granite. customer really likes having the ability to Overall, the residential real estate see the house from the comfort of their market nationally and in Delaware was home,” he said. “I don’t know why you Matterport technology can capture hundreds of images to create 3-D floor models, which may change the game strong in 2020. In Delaware, Burch said wouldn’t do it. With a video, they can for construction companies as they see fewer homebuyers explore the home model and start the shopping she’s seen an influx of buyers from New view it a thousand times compared process online. | PHOTO COURTESY OF 3D PHOTO MEDIA York and New Jersey opt for virtual tours to one visit.”

14 April 6, 2021 | DelawareBusinessTimes.com SPOTLIGHT: COMMERCIAL REAL ESTATE For Kent, Sussex, opportunity lies in industrial space

BY KATIE TABELING

DOVER — Although central and southern Delaware’s commercial real estate market is dominated by industrial and warehouse space, the COVID-19 pandemic is highlighting some weaknesses in what both Kent and Sussex counties have to offer. A market analysis of Kent and Sussex counties by Newmark, a major real estate brokerage in Wilmington, found that the strongest market was in multi-family residential housing, according to the firm’s research manager, Lisa DeNight. Multifamily space, with 20,000 units, saw vacancy drop from 3.6% to 2% in the past year. The largest sale in either county in 2020 was the Willows at Dover, which sold for $19.6 million last November. The industrial market was also holding strong, as both counties had a shared industrial market of about 3 million square feet, DeNight said. “This is a more resilient [sector], with current vacancy at 11.6%. It rose less than a percentage point year-over-year,” DeNight told Delaware Business Times. There is 764,000 square feet of industrial space in Kent County available to lease and 895,000 square feet in Sussex County. However, with recent announcements of Amazon’s last-mile warehouse in Seaford and manufacturer Shore Industries in the Dover Aero Park, those figures may be lower than The Kent County Aero Park is one of the prime industrial parks for growth in central Delaware. Shore Industries, a shade cover manufacturer, recently located there from Newmark’s first-quarter forecast. Maryland's Eastern Shore. | DBT PHOTO BY ERIC CROSSAN However, DeNight added that downstate Delaware has not seen significant industrial construction over operations in prior streamline this process for those who are that there has been a small bump in the past five years, as compared to New decades. Having looking,” Pfaff said. “It all depends on construction in this sector. Over the past Castle County. Time will tell if that trend more land available the location, whether the site has access five years, there has been 200,000 square will continue with KRM Development can be a positive to water, sewer, roads. If they don’t, it can feet built between the counties, mostly Corp. focusing on spec buildings in both for marketing to make the process longer.” driven by medical offices. Seaford and Smyrna, and ample sites in existing companies. In central Delaware, the Newmark But office vacancy rate rose from central Delaware. After Allen analysis solidifies what Kent Economic 17.7% to 20.5% in 2020 for office space “New Castle County’s industrial Harim moved to Partnership Linda Parkowski has in Kent and Sussex counties, and over the market can more than serve the Kent Bill Pfaff Millsboro, it had been focusing last five years vacancies have remained and Sussex population, [with] 5.9 warehouses at its on all along: between 15 and 22%. million square feet of industrial space headquarters property that it first looked small to medium “It’s been steadily climbing since 2018, under development and more to come,” to lease out to other tenants. Eventually, manufacturers and so if anything, the COVID-19 pandemic DeNight said. “Perhaps when New the poultry company decided to use distributors. has accelerated an existing trend,” Castle County has exhausted available the space for its deboning operations, “Warehousing DeNight said. “Market activity has been land sites, development may push consolidating operations, Pfaff said. is getting a muted and vacancies have outpaced any southward.” But Sussex County’s biggest lot of notice, small occupancies.” The land is there, and so is existing disadvantage can be the lack of Linda Parkowski pre-COVID. Parkowski was confident that the office warehouse space. But the challenge for infrastructure reaching that raw land E-commerce lease market would pick up in Kent both counties’ chief marketers is how to and the state’s overall slow permitting during COVID has accelerated that, and County, but “it may not be what it meet the demands of the industrial and process. Pfaff pointed to the Delaware 500,000-square-foot spaces or larger are was in 2020.” distribution sector. Business Roundtable’s Ready in 6 in demand right now,” Parkowski said. Pfaff said while Sussex County may “When you’re looking at shovel-ready initiative, which proposes creating a “With small to medium manufacturers, have lower inventory, he wanted to wait versus existing space, it really depends on service to streamline communication for they typically look for existing space out the pandemic and see whether the the customer,” Sussex County Economic permitting and shortening the process to move into, but they can build. My need forced the county to tap more into Development Director Bill Pfaff told to six months or less. concern is what’s in the 764,000 available that market. DBT. “With those looking at existing Delaware’s permitting process can take square feet. Where is it? What size is it? “With people working more remotely, space, they’re typically ready to get to up to 24 months, placing it at a distinct How can we meet that demand?” I’m not so sure it’s as important as it work faster. With shovel-ready, it’s disadvantage to Maryland, Pennsylvania, In terms of office space, Newmark’s used to be. The real question that every about getting the site just right.” and at least three southern competitors, analysis shows that Kent County has town in every county and every state In Sussex County, there is both a according to the 2019 report. 687,000 square feet of available office has on their mind is broadband. That wealth of land and existing warehouse “We can improve that process, and it space while Sussex County has 208,000. really drives things, from education to space after big companies like Allen would be game-changing if Gov. Carney Most office space is clustered in central business,” he said of the need to install Harim and DuPont ceased or moved supports this. We have to do better to Delaware, and DeNight pointed out high-speed internet connection.

DelawareBusinessTimes.com | April 6, 2021 15 SPOTLIGHT: COMMERCIAL REAL ESTATE

Kurt Foreman has led the Delaware Prosperity Partnership to securing 30 projects worth more than $700 million over the group's fi rst three years. DBT PHOTO BY ERIC CROSSAN New private-public approach paying off in Del. job wins

BY JACOB OWENS 10 projects worth $428.7 million that the nonprofit organization overseen by an Center and Bloom Energy, and the state will create more than 1,650 jobs. In 18-member board of industry leaders and would run into a nearly $400 million WILMINGTON – In the last three less than three years of active work, the lawmakers, chaired by Gov. John Carney budget deficit in 2017. years, a rush of projects has located in organization has secured 30 projects and Rod Ward, the CEO of the leading The confluence of those factors led Delaware, ranging from one of Amazon’s worth more than $733 million that business services firm CSC, both of whom the Delaware Business Roundtable, largest fulfillment centers to a $91 created or retained more than 4,200 jobs. were integral to DPP’s founding. a collection of dozens of Delaware’s million corrugated box manufacturing It’s been able to find that success while CEOs and top executives, to commission plant, and also expanded here, including relying less on economic incentives that From DEDO to DPP a study of what the state could do a growing consumer lending company administrations of the past have offered. to correct course. The 2016 Growth and an international chemical company. When then-U.S. Rep. Carney made his Through its first three years, state Agenda encouraged “a reset of economic What all of them had in common second run at the governorship in 2016, projects have received more than $30 development,” and among its many was the involvement of the Delaware the First State was in a very different time. Prosperity Partnership (DPP), the million in grants backed by taxpayers, The administration of then-Gov. Jack suggestions was to turn over the job public-private partnership that took over about half of which have been assisted Markell was ending after an incredibly creation and retention efforts to a public- the state’s major economic development by the DPP. That three-year total is difficult eight years punctuated by large private partnership (P3) that could focus efforts under the Carney administration. about 20% less than what the state doled job losses from legacy businesses like on an innovation-based economy that The DPP, led by its low-key president out in incentives in 2017 alone though, DuPont, Chemours, Evraz Steel, and grew future companies. and CEO, Kurt Foreman, has managed when it offered $10 million to JPMorgan AstraZeneca in the wake of the Great “I've always felt, as a kind of pro- to invigorate the state’s competitive Chase and $9.6 million to DuPont. Recession. Longtime economic drivers business Democrat working with profile, scoring prominent projects, DPP is also finding support from the like the Chrysler and General Motors businesses on business climate, on winning industry accolades and earning private sector, which splits the cost of automotive plants in Newark and attraction and retention, and on a science the buy-in of private-sector leaders the operation with the state government. Newport had also long since closed. and technology base, that this new model around the state. Currently fundraising for its second Delaware, which depended on a of a public-private partnership was a Last year, despite the COVID-19 three-year phase with a goal of $3.9 state agency, the Delaware Economic really good recommendation,” Carney pandemic canceling trade shows and million in member dues, ranging from Development Office, to handle job said last month. “It certainly has met, conferences that are often economic $2,500 to $100,000, DPP has raised creation and retention efforts, was seeing and probably exceeded, my expectations development agencies’ best chances to $3 million from more members than uneven results. Several high-profile on a number of fronts.” meet with influential site selectors, the its inaugural phase. efforts failed to yield hoped-for results, As state finance secretary and deputy DPP had its best year to date, securing That success has led a rising profile for including Fisker Automotive, The Data chief of staff to former Gov. Tom Carper,

16 April 6, 2021 | DelawareBusinessTimes.com SPOTLIGHT: COMMERCIAL REAL ESTATE who secured the U.S. headquarters of Foreman as DPP foreman DPP Highlights AstraZeneca in 1999, and lieutenant governor under Gov. Ruth Ann Minner, Unlike many economic developers who Project Jobs Capital Investment Carney said that he got to know the fall into the industry by chance, Foreman Dot Foods 200 $35 million private-sector employers of the state. said that he sought it out in college, where a professor was a former economic “[DPP] was more just building a sense Marlette Funding 232 $7.5 million development chief for Allentown, Pa. of credibility and solidarity with a sector His mentor connected him with a job Barclays Bank 323 $6.9 million of our state that is incredibly important. as a researcher for Fairfax County, Va.’s They create and sustain the jobs that economic development office. Amazon/Dermody 1,000 $300 million make our state run,” Carney said. As the child of an Army chaplain, Delmarva Corrugated Packaging 159 $91 million Ward noted that the public-private Foreman is used to moving frequently model had been tried by about a dozen – he’s moved 28 times in his lifetime. states, including Florida and North Before landing in Delaware, he spent 14 Carolina, before the Roundtable years running economic development to drive the same bus for 20 years and The process suggested it. The P3 model could amplify efforts in the Greater Oklahoma City be content,” he said. the voices of state’s mid-sized companies area and in Northern Louisiana. Foreman and Carney said they were DPP depends on a variety of like his own CSC and WSFS Bank His time in different regions around equally impressed with each other traditional avenues for prospect leads, as the First State saw the decline of the country broadened his perspective for the first time they talked. Foreman including news reports, site selectors, previous mega-employers like DuPont, how to position his charge to compete was intrigued by Carney’s goals and industry connections and more. MBNA, and Wilmington Trust. They effectively. The South, with its history of commitment to seeing them through, Foreman said that some of his favorite projects began when a local business also sought to include organizations plentiful resources and low-cost, non-union while Carney said that he enjoyed owner reported to them that they heard a that often fall outside of traditional labor, often bid aggressively for projects. Foreman’s collegial approach. The Midwest, which is split between the company was looking, noting that the New employer examples like law firms and “Kurt doesn't have a big ego. He's northern and southern Midwest, has had Castle project for pet food manufacturer health care, with Richards, Layton & very willing to work with our partners to evolve from its agrarian roots as well, JustFoodForDogs began in just that way. Finger, ChristianaCare and Bayhealth in the local chambers and he doesn't try pivoting into manufacturing, aerospace “I’d love everyone in Delaware to be all contributing to the effort. to elbow them out of the way or take and energy production. a salesperson for Delaware in one way “When you look at a P3, the private Foreman was leading the Greater credit,” the governor said, noting it fit or another, because we're all experts. sector has to play an active role,” Ward Oklahoma City Chamber of Commerce, Delaware’s collaborative culture. You may not feel like you're an expert, said. “I think it was important to those where he secured the transfer of “To me, success is measured by the but when you sit next to someone on an initial investors to say, ‘OK, we're 40 aerospace giant Boeing’s Aircraft numbers: how many new jobs, how many airplane, talk to them about where you're to 45 companies all willing to try this Modernization & Sustainment retained jobs, etc.,” Carney said. “Kurt from and you tell them it's either a great and support this.’” headquarters, bringing 800 jobs, doesn't get too carried away by all that. place or a terrible place that carries a lot With Carney ushering the change when he applied for the role of He understands that it's a day-to-day, of weight,” he explained. “Why wouldn't through in 2017 with the support of DPP president and CEO. compete-to-win kind of thing and if they believe you? You're from there.” the General Assembly, the first step “I gravitate toward the chance to build you continue to till the soil and cultivate Most of the work is more marketing was finding the right leader. something. I'm not the guy that's going the ground people will see the light.” than anything else, as DPP tries to sell the state as a good place for those looking to relocate. The 12-person team produces press releases, studies, and reports that highlight the strengths of the state and seek coverage from regional and national publications. When a prospect or a site selector does express interest, the DPP team works to provide answers to questions about sites, workforce, taxes, regulation and more. Often the team will find solutions to a client’s request that they didn’t expect. Foreman recalled that when Delmarva Corrugated Packaging was searching for a site in Delaware, it preferred New Castle County. Seeking rail access, a tax- break-applicable Opportunity Zone, and a sizable parcel though, DPP suggested 12 sites statewide that fit their needs – 11 of which were in Kent and Sussex counties. Ultimately, the company landed in the Dover area. For those companies on the fence about a Delaware project, Foreman said that the P3 model’s access to private- sector leaders can prove invaluable. They will often ask a company leader or HR representative to speak with a prospect about their experience in the state, helping to provide that extra assurance for an investment. “We don't need everyone to choose us, we just need certain people or a certain cross section of people to choose us,” Foreman explained. DPP President and CEO Kurt Foreman, second from right, poses with Wilmington Mayor Mike Purzycki, left, and officials from Farmers of Salem, a New Jersey insurance company that moved to Delaware in early 2020, bringing dozens of jobs. | PHOTO COURTESY OF DPP Continued on page 19

DelawareBusinessTimes.com | April 6, 2021 17 THE LIST Commercial Real Estate Firms Ranked by No. DE Employees Website Year Rank Company Phone No. DE Employees Senior Executive Founded

Pettinaro Companies pettinaro.com 1 234 N. James St. 170 Gregory Pettinaro (CEO) 1965 Newport, DE 19804 (302) 999-0708 Jack Lingo Realtor jacklingo.com 2 246 Rehoboth Ave. 115 Bill Lingo (Vice President, Broker of Record) 1974 Rehoboth Beach, DE 19971 (302) 227-3883 NAI Emory Hill Real Estate naiemoryhill.com 3 10 Corporate Cir., Ste 100 65 Carmen J. Facciolo (President) 1981 New Castle, DE 19720 (302) 322-9500 Jackson Cross Partners, LLC. Pete Davisson, CCIM, SIOR jacksoncross.com Louis J Battagllese, SIOR 4 300 N Market St., Suite 100 52 2003 Wilmington, DE 19801 (302) 792-1301 John Morrisey, SIOR Founding Partners DSM Commercial dsmre.com 5 3304 Old Capitol Trail, Ste 100 50 Tripp Way (Managing Partner) 2012 Wilmington, DE 19808 (302) 283-1800 The McConnell Companies mcconnellco.com Paul McConnell (Partner) 6 1201 N Market St, Ste 400 (302) 421-2000 50 Scott Johnson (Partner) 2000 Wilmington, DE 19801 Shona Grace (Chief Operating Officer) Harvey, Hanna & Associates, Inc. harveyhanna.com Thomas J. Hanna (President) 7 405 E. Marsh Lane 31 1997 Newport, DE 19804 (302) 323-9300 E.Thomas Harvey, III (Chairman & CEO) Meyer & Meyer Realty meyer2realty.com 8 2706 Kirkwood Hwy. 30 Peter Meyer (President) 1996 Wilmington, DE 19805 (302) 994-9600 CBRE cbre.us 9 1007 N. Orange St., Suite 100 30 John Kaczowka (Senior Vice President) 1989 Wilmington, DE 19801 (302) 661-6700 R & R Commercial Realty randrcommercialrealty.com 10 46 S State St. 28 Charlie Rodriguez (Broker) 1996 Dover, DE 19901 (302) 674-3400 Patterson-Woods Commercial Properties/CORFAC International pattersonwoods.com 11 3801 Kennett Pike D-100 (302) 622-3500 26 Duncan Patterson, CCIM (President, Broker of Record) 1961 Wilmington, DE 19807 Erik Hoferer & Associates, Inc. of Long and Foster Real Estate eriksells.com 12 7465 Lancaster Pike Suite M 302-234-1111 23 Erik M Hoferer (Principal, Associate Broker) 2003 Hockessin, DE 19707 Lang Development Group langdevelopmentgroup.com 13 100 Dean Dr. 14 Jeff Lang (President and Owner) 1999 Newark, DE 19711 (302) 731-2881 Newmark ngkf.com Neal Dangello (Senior Managing Director) 14 800 Delaware Ave., Ste 802 (302) 655-0600 7 Wills Elliman (Senior Managing Director) Senior 1929 Wilmington, DE 19801 Managing Directors SB Real Estate Sbrealtyco.com Paul Bryant (Co-founders) 2012 15 5307 Limestone Road, Ste 204 (302) 543-7707 7 Jeff Shahan Wilmington, DE 19808 Bellevue Realty Company bellevuerealtyco.com 16 909 Delaware Ave. (302) 655-1818 7 Matthew Gehrke (President) 1980 Wilmington, DE 19806 Silicato Development silicatodevelopment.com 17 36932 Silicato Dr., Ste 10 7 Dennis Silicato (President) 1975 Millsboro, DE 19966 (302) 945-3350 Independence Mall Inc. www.independencemallde.com 18 1601 Concord Pike, Suite 22 302-656-2190 4 Ken A Richards (Vice President of Operations) 1964 Wilmington, DE 19803 Musi Commercial Properties, Inc. musicommercial.com 19 5700 Kennett Pike 4 Ken Musi (Agent) Centreville, DE 19807 (302) 594-100 Gioffre Commercial Realty gioffrecommercialrealty.com 20 PO Box 5280 (302) 223-5225 3 Pat Gioffre (Agent, CIRC, ICSC) Wilmington, DE 19808

Source: Researched by: Delaware Business Times. Information for DBT's lists are either generated through public sources or supplied by individual organizations through questionnaires. We make every effort to confirm that the lists are comprehensive through industry sources. We assume that information provided by company representatives is accurate and truthful. Organizations that do not respond to our requests for information may be excluded from the list or listed at the bottom as Not Ranked (NR).

PetePete Davisson, SIOR, SIOR, CCIM CCIM CommericalCommerical Real Estate Real Estate done smarter.done smarter. [email protected] [email protected] CorporateCorporate Advisory Advisory 302-792-1301302-792-1301 x x223 223 BrokerageBrokerage www.jacksoncross.com CRE Strategies www.jacksoncross.com CRE Strategies

18 April 6, 2021 | DelawareBusinessTimes.com SPOTLIGHT: COMMERCIAL REAL ESTATE

DPP Continued from page 17 “People are still, I think, under that old rubric that you want the headquarters because those jobs pay a lot, but that The pipeline can change very quickly,” he said, noting that today a headquarters could be Averaging 10 projects landed a year home to just two dozen executives, takes a bigger pipeline of prospects to while production facilities elsewhere be wooing. As of February, DPP was in employ thousands. active conversation with 62 companies, DPP has frequently assisted and more than half of which were from out landed smaller projects employing dozens of state. of employees, including hemp processor “They're really high-quality projects, AgroRefiner and pet food manufacturer not just tire-kickers,” Foreman said. JustFoodForDogs in New Castle, ad “They're really looking and we're agency Carvertise in Wilmington getting attention.” and manufacturer Shoreline Vinyl Following the plan set out by the in Cheswold. Roundtable to reset Delaware’s strategy, “Sometimes a small project can make DPP isn’t swinging for grand slam a real difference. It might only be 60 projects from Fortune 500 companies, jobs, but that's actually the trigger for a but instead looking for mid-tier and whole bunch of other things to happen,” smaller tier companies that could grow Foreman said. into, or be acquired by, bigger companies. The investment by Delmarva Corrugated Packaging is evidence of a growing interest in locating advanced “One of our most exciting projects Future is bright manufacturing in Delaware, a trend that DPP believes will continue. | DBT PHOTO BY ERIC CROSSAN is a very large life science opportunity that would be, if we win it, one of the With several high-profile wins already, largest investments made in Delaware in Foreman remains bullish on a handful success, Ward said that DPP’s task now services and the sciences, among other decades, and it's a company that wouldn't of different sectors for Delaware’s future was to continue to execute and find the sectors. He added that the success in be a household name,” Foreman said. from financial services to the sciences, small tweaks that can improve outcomes. those efforts will be easier to achieve The desire to land corporate manufacturing to distribution and “DPP is the folks who tell that with all of the partners involved. headquarter projects that marked logistics, pointing to significant wins Delaware story outside of the state, so “Just having these business leaders Delaware administrations dating back in each of them in the past few years. that just takes time and consistency,” around the table, driving our efforts decades, including AstraZeneca, Incyte, “I'm a naturally optimistic person, but he said. “That’s really the challenge.” Chemours and Corteva, is not something I truly think that Delaware's next few The governor agreed with his and focus, whether it's on attraction or that drives Foreman, who argues that years look very bright,” he added. colleagues’ assessments, adding that he retention or whether it's on workforce companies today are easily acquired Like a manufacturing line that has believed Delaware has a bright future development, is just incredibly and jobs transferred. established its process and found its in advanced manufacturing, financial important,” Carney said.

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DelawareBusinessTimes.com | April 6, 2021 19 Consistently recognized as an Excellence in Construction Award winner with ABC Delaware! NEWS BRIEFS

For more coverage of these stories, five state nonprofits funded by banking giant visit DelawareBusinessTimes.com JPMorgan Chase will give the previously incarcerated a second chance at careers in high-growth sectors, including information Fujifilm to build new manufacturing technology (IT) and health care. plant in New Castle The Second Chance Employment Collaborative will be funded by a $1 million donation by Chase over two years and brings together the Wilmington Alliance, Delaware Volunteer Legal Services, Wilmington HOPE Commission, Delaware Center for Justice and Project New Start.

MASTER CONTRACTOR The new effort will provide participants with legal aid and workforce development resources 45 Years of Trusted Service The RxD plant. | PHOTO COURTESY OF FUJIFILM to connect them with in-demand and stable jobs. Over the next two years, the collaborative Commercial & Industrial Roofing Systems of all sizes NEW CASTLE – Fujifilm plans to build a new aims to screen 300 eligible participants and manufacturing plant at its Cherry Lane site to place at least 50 into full-time employment accelerate the growth of its global inkjet ink opportunities with career potential. business. Construction is expected to start in April and is scheduled for completion by 2022, Barclays commits $1M to the company announced March 18. minority business growth Such water-based inks are a rapidly growing market because they can be utilized in a variety of applications from cardboard packaging to laminate flooring. They are also environmentally safe, able to be used in food packaging and cheaper than previous technologies. Fujifilm currently employs about 75 at the existing inkjet ink production site and may add more once construction is complete, Proud of our local landmark projects: according to officials. Barclay's Wilmington headquarters. | DBT FILE PHOTO A.I. duPont Children’s Hospital, Incyte Headquarters, Newacme leases Delaware City Bayhealth Hospital & Claymont Elementary warehouse WILMINGTON – Minority-owned small businesses have a new opportunity to learn 404 MECO DRIVE, WILMINGTON, DE 19804 302.995.7027 | WWW.TRISTATETHEROOFERS.COM and grow via a $1 million donation by Barclays to a joint program by United Way of Delaware (UWDE) and the state of Delaware. The funds from the international bank’s Wilmington-based U.S. operations will launch Newacme's warehouse. | PHOTO PHOTO COURTESY the Stand By Me Minority Small Business OF DPP program, which will provide free financial coaching and business support services DELAWARE CITY — The Delaware Logistics aimed at increasing market share and revenue Park has landed its next tenant: Newacme, a for up to 50 Delaware minority-owned small retailer and distributor of trampolines, salon businesses in underserved communities. equipment, pet supplies and more. Barclays is also funding grants, ranging from The project will create between 15 and 20 $3,000 to $9,000, to participants that meet jobs when it opens in mid-April, but Newacme milestones in the year-long program. LLC Chief Executive Manager Reed Liang said the plan is to hire more than 34 employees Corteva averts proxy fight with over time to handle and ship products to board appointments customers all over the country. Newacme will WILMINGTON – Agricultural chemical and invest between $1.5 million and $2 million in seed company Corteva announced March 19 the 217,000-square-foot building. that it has prevented a looming proxy fight The state’s investment board unanimously with activist investment firm Starboard Value approved a $44,540 job performance grant LP by agreeing to replace three of its board for the project. directors with suggested picks and appointing a fourth of its own selection. Eastern Shore manufacturer The agreement comes less than two months heads to Dover after Starboard’s leader Jeffrey Smith called DOVER — Shore Industries, a shade sail upon Corteva to replace CEO James “Jim” and vinyl porch enclosure manufacturer has Collins Jr. and the majority of its board of relocated its headquarters to the state capital, directors for “a litany of missed promises and eyeing a gradual expansion of operations in unforced errors” that Smith felt diminished the foreseeable future. the company’s value. Shore Industries has agreed on a year-long lease for a 10,000-square-foot building in Thompson Island named Dover Aero Park next to the Civil Air Terminal ‘Delaware Brewery of the Year’ off Route 1, and has the option of purchasing REHOBOTH BEACH — Upstart brewpub the property once the lease expires. The Thompson Island Brewing Company won four manufacturer brought 16 jobs to 26 Starlifter awards at the 2021 New York International Ave. when it opened on March 1, but that figure Beer Competition, including being crowned may quintuple depending on how business Delaware Brewery of the Year. ramps up, according to officials. The brewpub off Route 1 opened by SoDel Concepts also received three silver awards Chase invests $1M in second chance for its Beautiful Pomegranate Kettle Sour, collaborative Little Friday Helles Lager and The Shoals, WILMINGTON – A new collaborative between a coffee stout brewed with AWAKE coffee from Swell Joe Coffee in Lewes.

20 April 6, 2021 | DelawareBusinessTimes.com BUSINESS LEADS

Liquor Licenses Grotto’s Pizza, Inc.; 30201 Real Estate Transactions Road, Wilmington 19808, $630,000 Bloom; 113 Houston St., Rehoboth Commerce Drive, Millsboro 19966; by the Sea, Dewey Beach 19971, Source: Delaware Offi ce of Alcoholic License Type: Restaurant-On, Source: Local Recorders of Deeds Churchmen’s Machine Company $2,950,000 Beverage Control Commissioner Sunday, and Patio to Carter & Felmlee Property NEW CASTLE CO. Holdings LLC; 401 Brookside Ave., Twenty Storage LLC to Bayside Taco Ventures, LLC DBA Taco Wilmington 19805, $625,000 Yourspace LLC; 29350 Piney Neck NEW LICENSES ISSUED WF Ventures LLC and The Frank Grande; 600 S. Madison St., Road, Dagsboro 19939, $2,900,000 Cantera Trust to Rockwell Linda Gilliam to Lakshmi and Jeffrey A. Miller Catering Co. Wilmington 19801; License Type: Middletown LLC; 226 Douglas Way, Krishnaswamy Yeleswaram; 205 Margaret Pitrone to Todd and DBA Jeffrey Miller Catering: Restaurant-On, Sunday, and Patio Middletown 19709, $2,173,000 Dogwood Slope Road, Wilmington Bellevue Hall; 911 Philadelphia Kimberly Stenerson; 15 Oak Ave., 19807, $612,000 Rehoboth Beach Camp Meeting Pike, Wilmington 19809; Contact Farindola, LLC DBA Touch of Italy; Daniel and Jamie Samia to Leif- Association, Rehoboth Beach 19971, – Jeffrey Miller (302) 219-3149; 19724 Coastal Highway, Rehoboth Erik and Erika Bohman; 1100 Farm Land Holdings LLC and $2,800,000 License Type: Caterer- On, Beach 19971; License Type: Caterer Brandon Lane, Westover Hills, Blenheim at Bayberry North LLC Patio(variances) Sunday #15306 - OFF Wilmington 19807, $1,325,000 to Scott and Marianna Kasprzak; MJRJ Properties LLC to Aquae 1732 Michelangelo Drive, Village of Bellmoor Hospitality, LLC; 6 Maris LLC; 86 Tidewaters, Rehoboth The Mercury Teahouse, LLC DBA Melissa Jessup to John Barber and Bayberry North, Middletown 19709; Christian St., Rehoboth Beach Beach 19971, $2,750,000 The Mercury Café and Teahouse; Katherine Sullivan; 708 Princeton $608,000 19971; Contact – Albert Rothman Road, Westover Hills, Wilmington 206 Delaware St., New Castle, Darlene and Randy Castle to (302) 227- 5800; License Type: 19720; License Type: Restaurant-On, 19807, $982,000 Stephen and Barbara Gregg to Hotel- On, Patio, Sunday #15331 Sabatino and Patricia Orapallo; Sunday, and Patio Leslie and Michael Mulshenock; 15 S. Shore Drive, South Shores, Beth Reed-Domingo and Rondaldo 16 West Periwinkle Lane, Hitchens Fenway Barr, LLC DBA The Pond Bethany Beach 19930, $2,497,000 Sai Foods, LLC DBA Curry and Domingo to Theresa Blewett; 20 Farm, Newark 19711, $600,000 Bar & Grill; 19266 Coastal Hwy., Spice Bar; 814 Kohl Ave., Building Guyencourt Road, Guyencourt, Rehoboth Beach 19971, Contact Edward and Elisabeth Greissing C, Middletown 19709; License Type: Wilmington 19808, $960,000 M. Steven Isaacs to HDC, Inc.; – Peter Borsari (302) 227-2234, to Stephen and Christine Halligan; Restaurant-on, Sunday 23 S. James St., Newport 19804, 98 Campbell Place, Bethany Beach License Type: Restaurant- On, 291 Associates LLC to VC Leasing $600,000 LLC; 291 Carter Drive, Middletown 19930, $2,250,000 Sunday #15409 Rosenfeld’s Bethany, LLC DBA 19709, $760,000 Rosenfeld’s; 34444 Coastal Hwy., SUSSEX CO. NEW APPLICANT George and Krtistin Noon to Martin South Bethany 19930; License Type: Our4Sons, LLC to Ulas J. Ozturk; Wow Bridge LLC to Agree Central and Rebecca Brown; 9 3rd St., Adventurewbs, LLC DBA Adventure Restaurant-On, Sunday, Patio 925 Crossan Road, Newark 19711, LLC; 18586 Sussex Highway, Rehoboth Beach 19971, $2,200,000 Wine, Beer and Spirits; 5350 $680,000 Bridgeville, 19933, $5,368,000 Summit Bridge Road, Unit 104, TRANSFER REQUEST Hobo Beach Partners LLC to Bryan Middletown 19709; License Type: John Sobol to Conrad HeilmanIn the midst ofNorman the COVID-19and Shannon crisis Sugrue the CIRC BoardStahl; 3 isClayton keenly St., awareDewey Beach of Arena’s Newark, LLC to P7C3, Package Store-Off, Sunday Jr.; 802 Old School Househow Road, this is impactingto Amy and our Monica Delaware Smith; 141 business community.19971, $2,150,000 LLC DBA 2S Pizza Company; 168 Midfarms, Middletown 19709, Kingsbridge Road, Rehoboth Beach East Main St. Newark, DE 19711; Gus’s Crab Shack, LLC; 29 W. $650,000 While we alterYacht the Country way Club,we Rehobothlive and work toRWFI protect Properties ourselves, LLC to SoDel our Market St., Port Penn 19731; Contacts - Andrew Schrader, Vitaly Beach 19971, $4,100,000 Development LLC; 700 Coastal License Type: Restaurant-On, Deyak, Paul Kuhns; License Type: Fay and Bryan Klair to Deannafamilies, and our friends, and our businesses, weHighway, all need Glenn to Acres, remember, Fenwick Sunday, and Patio Restaurant, Sunday, Patio #14676 Kevin Whalen; 39885 Limestonewe are strongerPaul together,and Carla Perna even to Michaelif “together” A. Island for 19944,a while $2,100,000 means just connecting online or on the phone.

When this is all over, we WILL be back! Keep an eye out for updates on ourStay events, connected… which will be rescheduled once things return to normal. In the meantime, be safe everyone and remember we are all in this TOGETHER!CIRC brings together commercial real estate Robert Stenta, CIRC President and developement professionals AVAILABLE Newport Industrial Park 500 Water Street, Suite 1 & 2, Newport, DE 19804

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While we alter the way we live and work to protect ourselves, our DelawareBusinessTimes.com | April 6, 2021 21 families, our friends, and our businesses, we all need to remember, we are stronger together, even if “together” for a while means just connecting online or on the phone.

When this is all over, we WILL be back! Keep an eye out for updates on our events, which will be rescheduled once things return to normal. In the meantime, be safe everyone and remember we are all in this TOGETHER! Robert Stenta, CIRC President

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Manfredonia joins Glenmede following a If you’re interested in submitting an entry, please 30-year career at PNC Bank, where she held In partnership with contact [email protected]. key leadership positions, including chief DelawareIn partnership Pathways with fiduciary officer, chief risk officer and chief DelawareIn partnership Pathways with and administrative officer for the bank’s Asset In partnershipDelaware with Delawareand Pathways Pathways and Jennifer Roberts has Management Group, and prior to that, In partnership with been named the CEO and as regional managing director for the of JPMorgan Chase’s Delaware Pathways Greater Philadelphia area. and Consumer & Community Banking business. Christopher Burgos Roberts brings a has been named CEO of wealth of knowledge and Diamond State Financial experience, excelling Group in addition to his in multiple executive roles across Chase, current role as president including digital products, Chase Pay, Ultimate and managing partner. Rewards and the Sapphire portfolio. She has The firm was founded by been the CEO of business banking since 2019, Raymond Bree in 1989 with helping the business simplify and modernize YourYour students, students, children children and and Grandchildren Grandchildren in in Grades Grades 7--12 are invited to to a a unique unique Work Work-Based-Based Learning Learning experience experience Burgos joining in 2000. Together, Bree and thatYour thatstarts starts students, May May 5....and 5....and childrenlasts lasts all all summer summer and long. Grandchildrenlong. in Grades 7-12 are invited to a unique small business solutions and enhance Burgos grew DSFG to more than 50 employees YourWork-Based students, childrenVisit Learning the and jadelaware.org Grandchildren experience homepage in Grades that to 7- re12 startsquestare invited STUDENT May to a5....and uniqueregistration Work lasts information-Based all Learningsummer experience long. customer experience. Visit the jadelaware.org homepage to request STUDENT registration information that serve Delaware and neighboring states. that starts May 5....andEmployers lasts all interestedsummer long. in sponsoring a virtual booth email [email protected] Employers interested in sponsoring a virtual booth email [email protected] Burgos is a highly experienced wealth -FindFREE out which toVisit allemployers the 7-12th jadelaware.org offer grade careers homepage students,that align with to PRE-REGISTRATIONre studentquest skills,STUDENT interests registration and passions and information Prep Activity Dr. Katharine Knobil -Find out which employers offer careers that align with student skills, interests and passions manager and has played an instrumental -ExploreREQUIRED local employersEmployers before to interestedlearn attending. about theirin sponsoring culture, Brief values follow-up a virtual and missionbooth activity email [email protected] will bring it all together is joining Agilent Your students,-Exploreas your children local students employers and Grandchildren to create learn about and in theirGrades act culture, on 7- 12their valuesare invitedStudent and mission to a Successunique Work Plans.-Based Once Learning registered, experience leadership role at the company, including that starts-Find May-Hear out 5....and whichfrom JA employerslasts volunteers all summer offer who careerswork long. at these that placesalign with to learn student about skills, their educational interests and and passions career paths Technologies Inc. as the -Hear allfrom of JA the volunteers digital who content work at these provided places to bylearn each about employertheir educational is available and career pathsfor 90-days establishing DSFG’s Medical Professionals -Explore-DiscoverVisit local thethe employers skillsjadelaware.org and to attitudes learn about homepagethat their help culture,people to re get questvalues and keep STUDENT and the mission job ofregistration their dreams information company’s chief medical -Discover the skills and attitudes that help people get and keep the job of their dreams Division. He is a contributing author in to all 7-12th grade students,using the unique student login credential.before attending. Brief officer. The CMO at Agilent -HearFREE from JA volunteers who work atPRE these-REGISTRATION places to learn and about Prep their Activity educational REQUIRED and career paths the book, “Real Life Financial Planning FREEfollowto all-Employersup 7 activity-12th grade will interestedbring students, it all together PREin sponsoring-REGISTRATION as your students a virtual create and booth Prep and actActivity email on their [email protected] REQUIRED Student Successbefore Plans. attending.Once Brief is a newly created position -followDiscoverregistered,-up activitythe skillsall ofwill the and bring digit attitudes ital all content togetherthat provided help as your people by eachstudents get employer and create keep is andavailable the actjob on offor theirthei 90-days rStudent dreams using Success the unique Plans. studentOnce for Physicians,” and enjoys speaking on -Find out whichVisitemployers the jadelaware.org offer careers that align homepagewith student skills,to request interests STUDENTand passions registration registered,login credential all of the. digit al content provided by each employer is available for 90-days using the unique student designed to advise, lead, FREE to all 7-12th grade students, PRE-REGISTRATION and Prep Activity REQUIRED before attending. Brief various financial topics through frequent login credentialinformation.. Employers interested in sponsoring a virtual booth -Explore followlocal - employers up activity will to bringlearn it about all together their culture, as your students values and create mission and act on their Student Success Plans. Once and elevate the company’s email [email protected] seminars and educational events. -Hear from registered, JA volunteers all of the who digit work al content at these provided places by to each learn employer about theiris available educational for 90-days and using career the paths unique student presence in the health care industry. As login credential. Agilent’s first CMO, she will expand the -Discover the skills and attitudes that help people get and keep the job of their dreams Olivia Snow has joined Greenberg Traurig, company’s leadership in precision medicine, FREE to all 7-12th grade students, PRE-REGISTRATION and Prep Activity REQUIRED before attending. Brief LLP as an associate in the firm’s Corporate follow-up activity will bring it all together as your students create and act on their Student Success Plans. Once supporting development of novel therapeutics Practice. registered, all of the digital content provided by each employer is available for 90-days using the unique student to allow clinicians to identify appropriate Snow focuses her practice on commercial login credential. patients and ultimately improve patient real estate transactions, structured finance outcomes. transactions, matters related to partnerships Prior to joining Agilent, Knobil served as and limited liability corporations, and CMO and head of research and development formation matters. She has experience at Kaleido Biosciences and GlaxoSmithKline, rendering opinion letters related to real where she served in a variety of leadership estate transactions, reviewing mortgage and roles, including head of late-stage clinical mezzanine loan documents and security development in China, head of value evidence instruments. She advises on Freddie Mac and and outcomes, and CMO. Fannie Mae funding, forming Delaware entities, and drafting certificates of incorporation, Ted Manvitz joins the formation, operating agreements, bylaws, board of Sallie Mae with and corporate resolutions. Congratulations to CBM’s more than 20 years of experience in strategic Lisa Donlon and Darryl Jones are the newest advice, senior executive partners at VanDemark & Lynch, Inc. management, operations, Donlon is a civil engineer and capital markets. He licensed in Delaware spent the last 10 years at and Pennsylvania. IHS Holding Plc, where he held a variety of Her 25-plus years of KevinKevin ThomasThomas roles including chief operating officer, chief engineering experience on being named as IA&B’s investment officer, chief financial officer, includes commercial and chief strategy officer. and institutional land developments; continuing Maryanne Donaghy, an attorney and a care residential communities; and residential Young Agent of the Year! senior advisor at the Biden Institute at the subdivisions. Her emphasis is quality design, University of Delaware, has been nominated by professional service, and management of President Joe Biden to assistant secretary for resources for a successful project. accountability and whistleblower protection at Jones is a structural the U.S. Department of Veterans Affairs. engineer and directs the She previously served as a federal prosecutor Steinle Construction for many years where she focused on white Engineering (SCE) division collar fraud. Since leaving the Department of of V&L. He has 25 years For us, insuring you and your assets is personal. Justice, Donaghy has counseled numerous of structural engineering organizations, including nonprofits, large experience in custom Providing quality service is critical to our success because people corporations and governmental agencies, in building design for new talk. Find out for yourself what people say about us by scheduling a response to federal, state and congressional construction and renovations specializing quote for your home, and auto insurance today. investigations, and on building effective in retail, multifamily residential, warehouse/ compliance programs. industrial, and other low-rise structures. His (302) 322-2261 | [email protected] designs focus on minimizing construction Glenmede has appointed Linda Manfredonia costs and maximizing the constructability as regional director of Glenmede’s Wilmington of projects.

22 April 6, 2021 | DelawareBusinessTimes.com BUSINESS CALENDAR

Unless otherwise noted, webinar access details APRIL 26 | 5 - 6:30 PM (including dial-in information) will be e-mailed to registrants. Dates and times subject to change. 99th Annual Dinner with the New FULL SERVICE Castle County Chamber of Commerce APRIL 9 | 9 - 10 AM Join the New Castle County Chamber of Commerce for their 99th Annual Dinner to hear PROPERTY Trailblazers and Changemakers from local business leaders on how our local Webinar Series: Launching a economy can unite, recover and rebuild. Hear Movement from Rodger Levenson, chairman, president, MANAGEMENT and CEO of WSFS Bank; Jennifer Cohan, CEO of Join UD Women’s Leadership Initiative for these Leadership Delaware; and Logan Herring, CEO of powerful conversations, which the university Kingswood Community Center, REACH Riverside hopes will inspire the community to make an and The Warehouse. . For more information, visit impact on the critical issues facing us at home, ncccc.com. at work and in our communities. 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DelawareBusinessTimes.com | April 6, 2021 23 YOUR VIEW Delaware Business Times reader commentary policies

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EDITOR'S VIEW Is Biden’s big bet on infrastructure a bridge too far?

President Joe increase in the corporate tax from 21% increasing economic growth and job engine, as well. Biden unveiled to 28% for 15 years, covering just eight creation. Such tax increases would make The workers on the ground recognize the most years of spending – an obvious mark that the United States uncompetitive as a place that the employment transition is a ambitious piece Democrats intend to hold the White to do business and make U.S. companies heavy lift. of his presidential House in 2024. uncompetitive globally, slowing recovery “They keep saying, ‘We’re going to agenda in Corporations were cut a break in 2017 and hurting American job creators transition you into solar jobs.’ That’s not late March, when President Donald Trump’s tax bill and employees,” said the Roundtable, how it works. We build power plants, a $2 trillion cut the corporate tax rate from 35% to a collection of the nation’s top CEOs, petrochemical plants and maintain steel JACOB OWENS infrastructure 21%. The impact of that dramatic cut has while suggesting that users should help mills,” Shawn Steffee, a leader of the plan that aims to been harder to ascertain in the wake of foot the bill of infrastructure investment. Boilermakers Local 154 in Pittsburgh address climate change while providing the COVID pandemic, as gross domestic Biden argued that the better way told the New York Times. “Would you modern jobs for workforces that would product grew in the initial year after the to invest in growth is to create jobs at ask Tom Brady to play middle linebacker be phasing out of favor. cut, fell in 2019 and fell sharply in 2020 the bottom of the pyramid through just because he’s a football player?” For the last several presidential amid the public health crisis. projects, which when completed will The climate-change-focused pieces administrations, infrastructure spending National unemployment was at its help attract new economic development. of Biden’s American Jobs Plan will to repair aging highways, bridges, water lowest point in 20 years just before the The president is right that one of the undoubtedly lead to job losses unless treatment systems and more has seemed pandemic struck but had been trending first concerns for companies looking the country can dramatically retrain the to be the one thing most politicians are continuously downward for nearly a to locate new operations is their workforce and invest in bringing more in favor of but can never seem to pass. decade following the recovery from the access to highways, railroads, airports of the operation statewide from overseas, Biden tackled the issue head-on, seeing Great Recession. The S&P 500 index or waterways. Having a modern including production of electric batteries it as a middle-ground issue that could rose about 700 points over the course of infrastructure, especially one that that often happens in Asia. result in a dramatic victory that sets the the first years after the Trump tax cut, reaches areas that has been economically And as is typically the case with federal tone for the remainder of his term. After but currently sits even higher today at depressed through the loss of industry spending bills, there are pieces that just seeing the details, however, I worry that a record 4,000-plus. over the decades, could lead to a don’t jive. A part of the American Jobs he’s bitten off more than he can chew. I paint this picture, because the public transformational change for many. Plan is $400 billion to support in-home “It's not a plan that tinkers around debate will soon turn toward well-worn I question whether the president may care for the elderly and disabled, $30 the edges. It's a once-in-a generation beliefs about how best to create economic be too optimistic in his beliefs that the billion for pandemic preparedness, investment in America, unlike anything expansion: top-down or bottom-up. unionized steelworkers of Pittsburgh and $174 billion to incentivize the we've seen or done since we built the Congressional Republicans are already or autoworkers of Detroit will so easily manufacturing and purchase of electric Interstate Highway System and the lining up in virtual lockstep to oppose slot into newly created jobs to build vehicles – initiatives that too many Space Race decades ago,” Biden said the spending bill, which is in part a windmills and electric cars instead. probably don’t align with visions of roads, in a speech before union workers in repudiation of the tax cut they passed For one, there just aren’t enough of bridges, railyards and ports. Pittsburgh on March 31. “Is it big? Yes. four years ago. Business groups, including those jobs. I suspect that as the American Jobs Is it bold? Yes. And we can get it done.” the Business Roundtable, the U.S. One estimate is that 130,000 oil, gas Plan works its way through Congress, The president is certainly right on Chamber of Commerce, and the National and coal workers would be left out of we’ll end up with a smaller version of the first points, but he faces a steep Association of Manufacturers, expressed jobs following the transition to green what Biden has first proposed – one hill to climb on the third. support for the plan’s intent, but criticized energy, many of them unionized labor more tailored to boots-on-the-ground To start, this historic jobs bill, balancing it on the backs of businesses. earning more than $75,000 a year with projects that lawmakers can visit for the largest since World War II, isn’t “By significantly increasing taxes benefits. On average, production of an photo ops. Perhaps that’s a bit cynical, supported by just revving up the Mint’s on corporations, the proposal would electric car takes one-third fewer workers but we’ve seen this infrastructure show printing presses. It’s underpinned by an be counterproductive to the goal of than one with an internal combustion before, haven’t we?

24 April 6, 2021 | DelawareBusinessTimes.com VIEWPOINTS We cannot wait any longer to reopen Delaware

Enough is whichever is fewer. Organizers wishing to The truth is the state has spent the past elevated through October. Compared enough. host larger events of up to 150 people can 12 months focused on the daily and weekly with 2019, that figure increased 24% It’s time for submit a plan to the state’s Division metrics, but we’ve got nothing to show for children aged 5-11 and 31% for Gov. John Carney of Public Health for approval. for it compared to other states that have children aged 12-17. to realize that You just can’t survive on that, even been less draconian. In addition to business Getting our schools open is critically his draconian with temporary federal help. survival, we haven’t even begun to see the important. Parents tell me how COVID-19 Florida Gov. Ron DeSantis is using long-term impacts related to mental-health COVID-19 has affected their families, restrictions phrases like “tremendous success” and stability and unemployment. including lack of physical contact with ROB MARTINELLI have had little “really good numbers” to describe his Since the start of the COVID-19 incremental state’s performance compared to others, pandemic, jobless Delawareans have friends at school and elsewhere; growing impact over the approaches taken in even with repeated news reports showing struggled to survive on the state’s inability to balance work responsibilities states like Florida and Texas where their students on Spring Break flooding the unemployment benefits – the lowest in with adequate oversight of younger governors have done everything they can beaches. But he’s right. His schools the region. The national unemployment children; and the challenge of remote to keep their businesses open over the and businesses are open; Florida’s 4.7% statistics continue to show women – learning, including its impact on high past year. unemployment rate is well below that of particularly parents of young children schoolers’ grades and SAT scores as they Have those states gone too far at times? many other states, including Delaware; and women of color in hospitality jobs – apply to college. Yes. They should not have removed mask his cases per 100,000 residents is less leaving the workforce at alarming levels. We need to trust residents and and social-distancing requirements, but than Delaware’s (8,994 to 9,233); and At the same time, mental health issues businesses to do the right thing. Many the truth is many businesses have chosen the state’s COVID-19 mortality rate have increased. companies will continue to let their to keep them in place because it was the is 156 per 100,000 vs. 153 for us. Delaware has been less transparent employees work from home. We need to smart thing to do. Delaware’s hospitality employment has about pandemic-related mental-health focus on getting more people vaccinated Gov. Carney took some baby steps dropped 22% and the state’s restaurants issues, but the national numbers paint (we had more than 90,000 unused doses on March 29, loosening restrictions on have reportedly lost more than $1.2 a bleak picture. This past August, outdoor gathering and venues. That billion in annual sales revenues since the CDC reported that a quarter of as of April 1) and remove restrictions comes on top of his increasing indoor March 2020. Of the restaurants that Americans between the ages of 18 and on business while keeping mask and gathering limits on Feb. 19. In what can haven’t closed, many are surviving on 24 had considered suicide in the previous social-distancing requirements in place. best be described as putting a band-aid on subsidies that will eventually run out. 30 days up from 10% pre-pandemic. The Before it’s too late. a gaping chest wound, indoor events (at In Florida, gatherings of all sizes proportion of children’s mental health- restaurants, retail locations, gyms, houses are allowed, but event planners are related emergency department visits Rob Martinelli is the president and CEO of worship, and other businesses) are now encouraged to follow safety guidelines among all pediatric ED visits increased of Today Media, the parent company allowed up to 25 people or 50% capacity, from the Florida Department of Health. starting in April 2020 and remained of Delaware Business Times. Investing in green infrastructure is good business investment

Making overload combined wastewater systems, increasing amenity opportunities and the needed especially as aging ‘gray’ infrastructure the overall value of the property. investment in begins to fail. Green roofs have also graced the Investing in green our nation’s water Over the past decade, GSI has rooftops of municipal buildings such as stormwater infrastructure infrastructure will gained momentum in Delaware. The the Delaware Courthouse in Wilmington. yield significant Department of Natural Resources Just this past year, an extensive green roof will protect our local job creation, and Environmental Control was added to the Chesapeake Utilities businesses by reducing better competitive (DNREC) updated the Sediment and Building in Dover. Now in 2021, another MICHELE DEERY position for U.S. Stormwater Regulations in 2013. The green roof is planned for the Delaware flooding and economically Guest Columnist businesses, and revision stimulated statewide action Solid Waste Authority Administration disruptive water pollution. resilient economic to reduce stormwater runoff. For Building in Dover. growth. President Joe Biden and several example, DNREC compiled a Green More businesses are becoming proud members of Congress recognize the Infrastructure Primer, outlining the green roof owners like the Westin Hotel need to stimulate the economy with applications of GSI in urban, rural, and and Interfaith Community Housing several decades; thus, local governments an infrastructure investment bill. coastal settings. New Castle County of Delaware, but this list should be have raised rates on water users to try Green stormwater infrastructure (GSI) created GreeNCC, a program focused longer. Governments need to put the to fill the gap. This burden on local should be included in their priorities on watershed protection. Even individual appropriate policies and incentives business and homeowners is only going for investment because of its ability municipalities took action, as the city in place to encourage wider adoption to increase as water infrastructure to foster public health and resilience. of Newark established a stormwater of green roofs. Other cities – such as continues to deteriorate and COVID-19 Communities and businesses across utility to create funding mechanisms Washington, D.C., and Hoboken, N.J. – has depleted the funds of many local Delaware will benefit by getting for stormwater projects. have implemented green roof rebates governments. That’s why I’m calling on board. Because of new state policies and, to encourage GSI development. on Congress and the White House to GSI seeks to reduce or divert in Newark’s case, economic incentives Even if a green roof is not feasible, make the necessary investments to repair stormwater from sewer systems and arising, many organizations have businesses can do their part by and improve our nation’s failing water direct it to areas where it can infiltrate, introduced GSI on their sites. In implementing other types of GSI (e.g., infrastructure. Other business leaders absorb to plants, or get reused. Soil and particular, green roofs have become rain gardens, vegetated swales, or riparian should follow suit. vegetation are utilized instead of, or in popular. The University of Delaware and buffers) and eliminating pavement from With Congress planning to identify conjunction with, traditional drains, Delaware Technical Community College their property where possible. economic stimulus opportunities in the gutters, pipes and treatment plants. built green roofs in the early 2010s for The federal government, for its part, next few months, now is the perfect time. Investing in GSI will protect our local educational, experimental and asset needs to significantly increase investment businesses by reducing flooding and benefits. The Lang Development Group in GSI and other water infrastructure Michele Deery is the regional sales manager economically disruptive water pollution. installed a green roof on an apartment to address pollution and flooding issues for Riverbend Green Roofs and serves As climate change brings increased building in Newark. Stormwater across the country. The federal share on the “Clean Water is Good for Business” rainfall and extreme weather, floods detention on the roof gives developers of investment in water infrastructure campaign steering committee of the are worsening and storms frequently more land to build upon, thereby has dropped significantly over the last American Sustainable Business Council.

DelawareBusinessTimes.com | April 6, 2021 25 In the C-Suite: Gregory Pettinaro CEO of Pettinaro

BY JACOB OWENS projects, Greg counts the development of Rockwood Navient, and the Red Brick Building alongside Frawley Apartments off U.S. Route 40 in Bear as one of his Stadium. NEWPORT – It may surprise some, but Gregory proudest moments. The project was initially proposed to “I can’t say it was easy, but with the state’s help "Greg" Pettinaro, CEO of the namesake vertically just be a gravel pit, but it transitioned into multifamily and through the public and private sectors’ help, the integrated real estate company started by his father, housing and worked through several years of oftentimes Riverfront is now a destination,” he said, noting that Verino, didn’t grow up wanting to join the family business. contentious public meetings. then-Gov. Tom Carper was particularly instrumental “I think I wanted to be a vet,” he said with a laugh. “I remember being elated when that project finally in helping push the effort. With Verino having founded what was then a large came to fruition,” he said of the community that now Greg said that he was particularly excited to see the construction company a year before his son was born, totals almost 700 units and has one more phase to revitalization that took place in the Riverfront starting Greg said that he never had much of an interest in complete. to spill over into the adjacent Southbridge community, entering the construction trade growing up. He got In 1982, Greg recalled visiting Wilmington’s especially with the new Margaret Rose Henry Bridge a firsthand look at the industry from watching his Riverfront with his father, finding a series of rundown, linking the areas. father develop the business. dilapidated buildings and overgrown weeds. His father Pettinaro has often focused on redevelopment rather “I spent a lot of time with my Dad as he went to asked for his opinion about attempting to redevelop than development, turning forgotten pieces of land meetings and met with people. I either got left in the the area, and Greg said it was hard to envision in its into something worth visiting. Its next major project is car or got to wander the job sites back then,” he said. condition. the mixed-use redevelopment of Barley Mill Plaza, the As he got older, Greg spent his summers working on “But we talked about it, and we recognized that it’s former DuPont site off Route 141. The project will be the firm’s job sites and he said that taught him more right on the river, right next to the city and right now anchored by the state’s first Wegmans grocery store. about what he didn’t want to do for a career. I-95,” he said. “Time heals all wounds in real estate. “To take properties like that and redevelop “I spent one summer lifting blocks at the Gander If you can’t make that site work at some point in them is, to me, more rewarding than Hill prison job and I quickly learned I didn’t want time, then something’s wrong.” taking an open field and turning to do that for the rest of my life,” he said. The firm would ultimately buy 82 it into houses,” he said. “It’s not When he graduated high school, Greg, like many acres in the Riverfront and help just, ‘You build it, and they will teens, sought to get away from home and spent his lead the revitalization of the area, come.’ I think you need to college years in Florida earning a bachelor’s degree from building the Chase Center on build something in the right Lynn University. In the winter of his senior year though, the Riverfront, the Shipyard location, and then you he said that he began his career at Pettinaro without Center, the Christina Crescent need to build something believing it was anything more than a temporary job. and Gates Building that are that’s cool and that the “I started as kind of a junior project manager, working home to Barclays Bank, the public wants – and then under people trying to figure out what it was to put two STAR Building that is home to they’ll come.” bricks or two two-by-fours together,” he said. Eventually, his father gave him a warehouse project in Wilmington’s Browntown neighborhood as a first assignment, tasking him with figuring out how to get the permits and what the project cost would be. They hashed out the details over the dinner table. Greg said that one of his father’s greatest lessons was to pay attention to costs, likely a byproduct of his years as a construction firm boss who had to bid lower than competitors to win projects. “I would tell him, ‘Hey this is going to make X,’ and he would say, ‘Well great, but what’s it going to cost?’ It was a good mix between the two of us, focusing on the expense side and focusing on the income side,” Greg added. Like most children who take over the family business, Greg said that the early years were difficult to carve out his own reputation and build confidence in the business he was completing. “There was a long time in my career when I was ‘Verino’s son.’ I think I probably got a lot of doors opened because of who I was, but I think I got a lot of doors shut because of who I was too,” he said. Greg said that he can still recall the moment where he no longer felt like he was in his Dad’s shadow. After hanging up the phone with a client, he said he felt a smile creep across his face. “I kind of looked at myself in the mirror and I was like, ‘You know, that kid that started here is gone,’” he said. “Now it’s my thing to run.” Greg pushed his father toward doing more development work in the early ‘90s, and it led Pettinaro to becoming Delaware’s largest firms, often sought for the state’s biggest projects. “That’s what really gave me my rush – finding the next piece of property you know finding the next tenant and negotiating the deal. A lot of times you know the deal’s over and it’s time to build it and it’s no fun for me anymore,” Greg explained. Although not as glamorous as some of the firm’s other

26 April 6, 2021 | DelawareBusinessTimes.com   EDITION INNOVATION SHOWCASING DELAWARE’S INNOVATORS DELAWARE Supporting Delaware by | SCIENCE & TECHNOLOGY MANUFACTURING & LOGISTICS showcasing innovation across the First State

Delaware companies are leading the nation with innovation across several industries. The Innovation Delaware magazine highlights companies and their technological achievements in a beautiful four-color, glossy magazine.

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DelawareBusinessTimes.com | April 6, 2021 27 Working together to create jobs for our community

At Bank of America, we continue to invest in our local communities to help create jobs and fuel economic opportunity.

We’re doing this by collaborating with other companies, identifying needs and working with skill-building partners and local colleges like Delaware Technical Community College.

This effort also includes our recent $25 million investment in 21 higher education institutions including community colleges, historically Black colleges and universities and Hispanic-serving institutions, such as Delaware State University. Here’s how we’re helping to Our shared focus is on education, reskilling and up-skilling to accelerate job creation in build a pipeline of talent — and on increased commitment to our community: hiring by major employers across our local area. Partnering with the Delaware State Chamber of Here in Delaware, my teammates and I are excited to be a part of Commerce to advance local goals creating more opportunities for members of our community. Supporting organizations that are expanding access What would you like the power to do?® to skill building programs and resources, including: • Goodwill Industries of Delaware & Delaware County

• Tech Impact

• Year Up

Chip Rossi Delaware Market President

To learn more, please visit bankofamerica.com/community

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28 April 6, 2021 | DelawareBusinessTimes.com