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New Castle County Relocation Guide

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New Castle County Relocation Guide New Castle County, DE Relocation Guide Introducing New Castle County ew Castle County off ers great diversity of neighborhoods, ranging N from the mansions of Greenville to the high-rise condos and brownstones in Wilmington. Newark is home to the University of Delaware and a popular location for families due to its walkable, vibrant downtown lined with quaint stores and restaurants. Popular growing residential areas include Townsend and Middletown, which are located south of the Chesapeake and Delaware Canal. The City of Wilmington is New Castle County’s metropolitan center. With a population of 72,000, Wilmington offers a great variety of entertainment, dining and urban amenities. In the last 15 years, the city has developed its Riverfront district into a popular destination that includes residences, restaurants, museums, shopping, conference center, a riverwalk and Frawley Stadium, the home of the Wilmington Blue Rocks minor league baseball team. There is no shortage of activities to partake in and sights to see in New Castle County. From the charm and beauty of Colonial New Castle to the Civil War-era Fort Delaware found on Pea Patch Island in the Delaware Museum of Natural History, and visitors love tax-free shopping at middle of the Delaware River to the Delaware Art Museum and Rockwood the Christiana Mall, which has more early 20th-century townhomes of Museum. than 130 stores. Wilmington’s Ships Tavern District, There are many great events, New Castle County is a great area New Castle County is steeped in festivals and attractions that shouldn’t for outdoor enthusiasts. There are historic sites for your enjoyment. be missed, including the week- more than 16,000 acres of beautiful New Castle County is also home to long Clifford Brown Jazz Festival, park land available for hiking, playing a number of world-class attractions concerts at the Queen Theatre, the sports, swimming, fishing, camping, and museums, including Winterthur, Wilmington Grand Prix and sports at biking and picnicking with friends Nemours Mansion and Garden, the University of Delaware. Residents and family. A Quick Look at New Castle County Delaware, located on the eastern seaboard of the United States, is bordered by the Atlantic Ocean and the Delaware Bay, as well as by the states of New Jersey, Pennsylvania and Maryland. With a land area of 1,982 square miles, Delaware ranks 49th in area among the 50 states. New Castle, the northern-most county, aff ords easy access to the major metropolitan areas of the Northeast, with both New York City and Washington, D.C., just an hour and a half away by rail. POPULATION: • Census 2010: 538,479 Source: U.S. Census, 2010 INCOME: • Median Household: $64,158 • Per capita income: $31,988 Source: U.S. Census, 2010 CLIMATE: • Mean annual temperature: 56 degrees F • Mean daily temperature: From 38 degrees F in the winter to 76 degrees F in the summer • Widener University • 2nd for economic freedom, • Median annual precipitation: (Delaware Campus) Economic Freedom of North 49 inches • Wilmington University America 2012, Fraser Institute Source: NOAA • 1st for legal systems for the eighth NATIONAL RECOGNITION consecutive year, COLLEGES AND FOR DELAWARE: 2012 State Liability Systems Ranks, • 1st in economic output per job, UNIVERSITIES: U.S. Chamber of Commerce • Delaware College of Art and U.S. Chamber of Commerce, • 5th in business incubation, Design Enterprising States 2012 Beacon Hill Institute of Public Policy • Delaware Technical and • In the top 10 for high-tech share of Community College all business, high-speed broadband Research, 2013 • Drexel University – Wilmington availability, median family income, • 14th for the state business climate, • Goldey-Beacom College export intensity growth, export Th e 2012 Tax Foundation’s Index • University of Delaware growth, STEM job concentration, • 16th for the best states for • Wesley College Enterprising States 2012 business cost, Forbes 2012 Business All Sizes of Businesses Th rive, Grow in New Castle ew Castle County is invested in creating a successful environment for Nbusinesses to thrive. Our economic development professionals and partner organizations are able to assist with the growth of businesses of all sizes in New Castle County. Our strategic location, skilled workforce, low taxes and cost of living make New Castle County a great place to establish and grow a business. Th e county is the corporate home to more than 60 percent of the nation’s Fortune 500 companies and industry giants. At the same time, many smaller businesses have relocated to the area while home-grown businesses continue to thrive. Companies see great value in New Castle County’s quality of life. Due to its small size, Delaware residents benefi t from exceptional access to state and local offi cials who are invested in the success of local businesses. New Castle County features a business- friendly tax environment, with no sales tax and low property and income taxes. Th is means that the cost of doing business is substantially lower than in surrounding states and counties. We assist local and national companies with the permitting process along with other government regulations. In coordination with the Delaware Economic Development Offi ce and other partnerships, we work to attract new businesses and existing ones through marketing and outreach. Keeping Taxes Low Benefi ts Homeowners and Businesses Alike New Castle County and the State of Delaware maintain a business-friendly environment by keeping taxes low. New Castle County off ers its residents a great quality of life with a considerably lower cost of living when compared with surrounding counties. Sales Tax portion of property taxes is $503 collecting and distributing income Th ere is no sales tax in the State of per year. from such investments or from Delaware. tangible property outside Delaware, Corporate Taxes are exempt from State corporate Property Tax Th e corporate income tax rate income tax. Partnerships, sole Real property taxes in New Castle is 8.7%. Taxes are not paid on proprietorships and shareholders dividends of foreign corporations of S Corporations are not subject County are among the lowest in that qualify for, and claim, foreign to State corporate income taxes. the nation. Th ere is no state wide tax credit on federal returns. Businesses should note that property tax. Property taxes are Investment and holding companies Delaware has no tax on inventories assessed by local governments and maintaining and managing and no tax on process machinery or school districts. Th e average county intangible investments, and equipment. Learn more and get your free guide at Business Business Assistance he New Castle County Offi ce unincorporated areas of the county are capital expenditures. DEDO administers of Economic Development eligible for a three-year partial prop- the program in collaboration with the provides new, developing erty tax exemption for the incremental Department of Natural Resources and T and existing businesses increase in property assessment due Environmental Control. with the resources they need to grow, to the new development in excess of remain successful and contribute $50,000. Th e tax exemption is applicable Delaware Access Program to our vibrant local economy. Our to only the New Castle County portion of Th e Delaware Access Program is economic development professionals real estate taxes. a private-public match program that assist local and national companies provides access to bank fi nancing for with government regulations and the New Jobs Infrastructure Program qualifying Delaware businesses that may permitting process. In coordination with Th e New Jobs Infrastructure Fund have diffi culty obtaining conventional the Delaware Economic Development provides fl exible funding for public fi nancing. Offi ce and other partnerships, New Castle infrastructure projects that are critical County works to attract new businesses and immediate for large businesses Delaware Technical and off er existing ones several innovative locating or expanding in Delaware. Th is Innovation Program (DTIP) programs to invest in the success of your $55 million fund can be used for projects DTIP supports business research business and help you grow. relating to transportation, sewer, water, through funding transition grants that energy, land stabilization and other will bring innovative new products, Bond Financing infrastructure. Applications are reviewed jobs and revenue to Delaware. SBIR/ New Castle County Government on a rolling basis and require a public STTR transition grants provide funds off ers tax-exempt bond fi nancing for sector co-sponsor. New Castle County to businesses located in the State of projects relating to infrastructure, energy, Government seeks to co-sponsor projects Delaware that have been awarded community development and other within the county. economic development purposes. assistance from the federal program. Brownfi eld Assistance Program Partial Property Tax Exemption Th e Brownfi eld Assistance Program Wilmington Tax Exemption for Businesses that invest at least encourages the redevelopment of envi- New or Renovated Commercial $50,000 in new construction of com- ronmentally distressed sites within or Manufacturing Projects mercial or manufacturing facilities in the state by helping to reduce related New or renovated commercial or manufacturing projects located within the corporate limits of the City of Wilmington are eligible to receive a partial tax exemption on the increase in the New Castle County portion of property tax attributable to the new construction. Th e cost of new construction and/or the cost of site acquisition and construction must exceed $50,000. Th e tax exemption is applicable to all new or renovated commercial or manufacturing projects fi rst assessed on the property tax records after August 22, 1978. Residential structures are exempt. Recreation Enjoy the Great Outdoors with Great Parks and Activities ew Castle County is a great 150-year-old estate and museum with off ers a rock-climbing wall, although place for people who love wonderful rural Gothic architecture rock-climbing enthusiasts will fi rst to enjoy the outdoors.
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