Delaware economy

Don Rush

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections is lowering its revenue estimates for the current and next fiscal years.

The Delaware Economic and Financial Advisory Council met Monday for the first time since Gov. Jack Markell signed the fiscal 2014 budget in the summer.

The panel lowered its fiscal 2014 revenue estimate by $8 million compared to its June estimate, mostly because of a decline in expected lottery income.

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Governor Jack Markell is will be touring the First State in a series of public forums that are aimed at talking about what the administration has done to stimulate the economy.

The first of three town hall-style meetings will be held tomorrow night at Delaware Technical and Community College campus in Dover.

Recently, a new report by Moody’s Analytics found that Delaware’s economy is the only in the nation that could slide back into a recession.

Last year the state’s economy rose only .2 percent and had a jobless rate of 7.4 percent.

WILMINGTON, Del. (AP) - The number of companies incorporating in Delaware has rebounded to pre-recession levels as the economy improves.

The News Journal reports the Delaware Department of State released figures Monday showing there were 145,182 corporations in the state in 2012. That's up from 133,300 in 2011 and 117,833 in 2010.

The number of incorporations hit the lowest point in 2009 with 102,029 based in Delaware. The peak was 161,756 in 2007.

DOVER, Del.(AP) - Gov. Jack Markell is preparing tl talk about how to create jobs, improve Delaware's economy and strengthen public schools.

Those were among the topics the governor planned to touch on Thursday at a luncheon speech to the Wilmington Rotary Club. State lawmakers, meanwhile, are continuing to review Markell's proposed $423.5 million capital budget for construction projects, equipment upgrades and economic development, and transportation improvements.


            The Bank of America could give Delaware’s economy a boost 500 additional jobs…at its credit card business over the next three years.

            The announcement comes even as the financial institution has been downsizing its workforce.

            Chip Rossi, the bank’s Delaware Market president, hailed the move telling the Wilmington News Journal that this was a great day for the state.