DuPont is planning to spend $200 million to modernize and upgrade the Experimental Station, its 114-year-old research facility in Alapocas.
Media outlets report DuPont CEO Ed Breen announced Monday that renovations will add enhancements to the Experimental Station's lab space along with the construction of collaboration centers for DuPont customers and suppliers. Space will also be set aside for third-party science companies.
Breen says The Dow Chemical Co. will have workers at the research center after it completes a proposed $130 billion merger with DuPont.
The Experimental Station was built in 1903 and is the birthplace of DuPont products such as Nylon and Kevlar. About 2,000 workers are at the site.
Chemours will stay in Wilmington through an agreement with the Buccini/Pollin Group, which has bought the DuPont building that the chemical company occupies.
Media outlets report that under the agreement signed Monday, the Buccini/Pollin group will lease the building back to Chemours on a long-term basis. Chemours will get an upgraded world headquarters without having to relocate while Buccini/Pollin expands its portfolio of downtown Wilmington properties.
A purchase price has not been disclosed.
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Chemours previously confirmed that the company was considering leaving Delaware and had scouted multiple locations in New Jersey and Pennsylvania. Delaware Director of Economic Development Bernice Whaley says keeping Chemours in downtown Wilmington is an economic win for the city and state. She said the loss of Chemours would have cost the state 3,409 jobs and $554 million in revenue.