Delaware government and business officials are celebrating the decision by the DuPont Co. and Dow Chemical to locate in Wilmington the corporate headquarters of the agriculture company to be spun off after their planned merger.
The companies announced Friday that Wilmington will be home of the agriculture company's CEO and key corporate support functions. Leadership of business lines and support functions, research and development, and sales and marketing will be based in Iowa and Indiana.
As part of the agreement, Gov. Jack Markell has vowed to work to reform Delaware's tax code, including lifting annual caps on research and development tax credits and offering payroll tax credits.
Delaware economic development officials also are offering the company up to $9.6 million in grants, mostly in matching funds for capital expenditures.
“This announcement is a win for Delaware,” said Markell. “This decision would not have happened had it not been for the dedication and hard work put in by Senators Coons and Carper, Congressman Carney, leadership from both parties in the General Assembly, County Executive Gordon and members of County Council, and leaders at our state educational institutions. I also want to thank DuPont CEO Ed Breen, Dow CEO Andrew Liveris, and Jim Collins, the Executive Vice President of DuPont’s Agriculture unit, for their dedication to this issue.”
It also keeps a major DuPont presence in Delaware despite job cuts from the merger.
"This is a positive step for the continuing relationship between Delaware and DowDuPont," said U.S. Sen. Chris Coons (D-Del.). "While we aren't entirely out of the woods yet, this is a positive sign that the leadership of DowDuPont remains committed in this important sector to their roots as a Delaware company. Despite this good news, it’s important to remember that many Delawareans are nonetheless being laid off or otherwise negatively impacted by this merger, so I will remain vigilant in protecting retirees’ benefits and pensions and working with laid off DuPont employees now searching for new employment."