Delaware Business Magazine - November/December 2023

BUSINESS November/December 2023

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2023 SUPERSTAR IN BUSINESS

NERDiT NOW A PUBLICATION OF THE

CHAMBER OF COMMERCE

Periodicals

DELAWARE STATE

N IO IT 4 ED F L 2O IA EC VER SP O C

DELAWARE

FEATURING

HERVÉ HOPPENOT

CHAIRMAN & CHIEF EXECUTIVE OFFICER

MONDAY, JANUARY 29, 2024 4:00 PM - 7:15 PM | CHASE CENTER ON THE RIVERFRONT, WILMINGTON

LEARN MORE AND REGISTER: For more information, contact Kelly Basile at kbasile@dscc.com

The Developing Delaware Conference featured a focus on addressing housing diversity, inventory, and affordability in the First State.

Departments President’s Message ..........................2

In this Issue

Legislative Priority ..............................3 Reflecting on 2023 Member News and Notes ...................5 Business Spotlight: First Citizens Community Bank

Features

Nonprofit Spotlight: American Cancer Society

SUPERSTARS IN BUSINESS ......................................................................... 18

Diverse Supplier Spotlight: GGA Construction

Children’s Beach House, Inc. NERDiT NOW Breakwater Accounting & Advisory Belfint, Lyons & Shuman, P.A.

Chamber Scene ................................ 15

CONSTRUCTION & REAL ESTATE.................................................................. 29

Welcome New Members ................... 16

Delaware Voices & Data Underscore a Need for Action We Are All Connected to the Housing Crisis Embracing Variety to Solve the Housing Shortage

INNOVATION & TECHNOLOGY ...................................................................... 42

Chair Message

Chamber Calendar ........................... 55 Newsbites ........................................ 56

Delaware’s Entrepreneurial Mindset

In Case You Missed It ....................... 59

BANKING.................................................................................................. 48 The Right Balance in AI Governance

For Assistance, Contact the Chamber .................................... 60

On the Cover: 2023 Superstars in Business. Photos by Nick Wallace Photography

Volume 28, Number 6 / Delaware Business (USPS 012098) (ISSN 153253542) is published bi-monthly by the DSCC Center for Business Management. Subscription price is $18 a year (included in membership dues). Known office of publication is 1201 N. Orange St., Suite 200, Wilmington, DE 19801. Periodicals postage paid Wilmington, DE 19850.

Postmaster: Send address changes to Delaware Business, c/o DSCC Center for Business Management, P.O. Box 671, Wilmington, DE 19899-0671. Telephone (302) 655-7221.

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Message from the President Over 90% of the employers in Delaware are, by definition, small businesses. Half of the workforce in the state is employed by a small business. A large majority of State Chamber members are small businesses because they value the opportunity to meet other large Michael J. Quaranta and small business leaders and expect us to carry their concerns to policymakers on proposed laws and regulations.

Running a small business is both rewarding and maddening. A typical day finds a small business leader filling in for an absent employee, talking to key customers or suppliers, bidding on new work, resolving human resources issues, or deciphering a new law or regulation.

It’s a dizzying array of responsibilities and most of these tasks are learned over the course of time. For most small businesses, and especially those with under 10 or 15 employees, there is no legal counsel, environmental compliance specialist, or human resource professional “just down the hall” to consult with when issues arise. All of this makes starting a business, growing it, and managing it to higher levels, exciting, worrisome, and challenging.

That is why each year we recognize and celebrate many of the very best small businesses and nonprofits in Delaware by acknowledging them for their many accomplishments. Our Superstars in Business awards program and the Marvin S. Gillman Bowl recognize some of the very best among us. This is the 25th anniversary of the event and we could not be more excited! My hope is that you will consider applying in future years (if you are eligible), recruit other small businesses to do similarly, and nominate small business leaders deserving of recognition.

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DELAWARE BUSINESS EDITORIAL STAFF Marie Holliday, CPA Chair

Michael J. Quaranta President

Kelly Basile Editor

Christina Jones Graphic Design

Steve Chambliss Brookfield Properties

Natalie Keefer Bank of America

Michael A. Meoli The Meoli Group

Andrew Cottone, Ph.D. ADESIS

Rodger Levenson WSFS Bank

Jason D. Gonzalez DuPont

Barbara McCullough AstraZeneca Pharmaceuticals LP

Nicholas A. Moriello, RHU Highmark BCBS Delaware

BOARD OF DIRECTORS CHAIR Marie Holliday, CPA Cover & Rossiter VICE CHAIR John C. Gooden M. Davis & Sons, Inc. Catherine M. Bassett Mountaire Farms

Dr. LaVerne T. Harmon Wilmington University

Janice Nevin, M.D., MPH ChristianaCare

Tom Horne JPMorgan Chase

BOARD OF GOVERNORS Tony Allen, Ph.D. Delaware State University

Brian DiSabatino EDiS Company

Walter Donaldson Pierre Anderson Artesian Water Company, Inc. Freeh Sporkin & Sullivan, LLP Steve Baccino Lisa M. Donlon, PE Chesapeake Utilities VanDemark & Lynch Chris Baker Thère du Pont George & Lynch, Inc, Longwood Foundation Greg Ballance Jerry Esposito Diamond Technologies Espo Enterprises, LLC Mike B. Berardi Wohlsen Construction Co. G. Kevin Fasic, Esq. Offit Kurman Robert A. Book II Don Fulton Delaware Electric Weiner Benefits Group Cooperative Julian H. “Pete” Booker Martha S. Gilman Cornell Property Delaware Public Media Management Corp.

Adam Blackford Joseph A. Giordano* Agilent Technologies Whisman Giordano & Jennifer Gimler Brady Associates, LLC Potter Anderson & Corroon A. Richard Heffron LLP Delaware State Chamber Dr. Mark T. Brainard of Commerce, ret.

Delaware Technical Logan S. Herring, Sr. Community College The WRK Group Beth G. Brand Kirsten Higgins University of Delaware Tidewater Utilities, Inc. Kevin C. Broadhurst Michael Houghton Comcast Morris, Nichols, Arsht & Tunnell, LLP, ret.

Robert L. Byrd ByrdGomes Tim Houseal

Robert (Rob) Rider, Jr. O.A. Newton

Alan Levin SoDel Concepts

Andy Lubin Bettina Tweardy Riveros Delaware Financial Group ChristianaCare Mac Macleod Carvertise

Salvatore J. “Chip” Rossi Bank of America

Scott Malfitano CSC

James J. Roszkowski Discover Bank

William E. Manning Saul Ewing Arnstein & Lehr

Rhett Ruggerio Ruggerio Willson & Watson

Guy Marcozzi Verdantas

Dennis M. Salter Edinburgh Capital Management LLC

Greg Sawka Paul M. McConnell McConnell Development, Inc. Bancroft Construction Company Katie McEvoy Chris Schell AT&T Schell Brothers Gregory Miraglia Fred C. Sears II PNC Bank Delaware Community Jeff Mitchell Siegfried Advisory

W. Douglas Mokoid Delmarva Power Jonathan D. Moll, CPA Belfint, Lyons & Shuman Chad Moore Beacon Hospitality LaKresha R. Moultrie, Esq. Delaware State University

Foundation, ret.

Greg Smith The Chemours Company Michael Smith Navient Robert S. Smith Santora CPA Group Mark Stellini Assurance Media David Tam, M.D. Beebe Healthcare

Jim Taylor Mark Mumford Nemours Children’s Health Saul Ewing Arnstein & Lehr System James Tevebaugh Tevebaugh Architecture Jessica Hunt Stuart Comstock-Gay Terry Murphy Siemens-Healthineers Delaware Community Bayhealth Medical Center Jana Tidwell Foundation AAA Club Alliance Mark Hutton Chris O’Neill M&T Bank Charlie Copeland PSCI Michael S. Uffner Associates International, Inc. LeVar Johnson AutoTeam Delaware Jed Patterson Novo Nordisk Pam Cornforth LabWare Mike Vanderslice Ronald McDonald House of Christopher L. Kenny Environmental Alliance, Inc. Chris Perdue Delaware, Inc. ShopRites of Delaware Ann B. Wayne, BSN, RN Perdue Farms SUN Behavioral Delaware Barry Crozier Apollo Khine Robert W. Perkins Belfint, Lyons & Shuman, ret. Barclays US Consumer Bank Robert W. Whetzel Brandywine Public Richards, Layton & Finger Jason Danner Strategies Nick Lambrow Kelly Benefits Strategies M&T Bank, ret.

Katie K. Wilkinson Colleen Perry Keith, Fulton Bank Rick Deadwyler Ph.D. Matthew Lantagne Corteva Agriscience™ Goldey-Beacom College TD Bank Robert Wirth Marta DeLisi Theodore J. Prushinski DuPont Country Club Richard H. LaPenta Beasley Media Group Citizens Bank CBM Insurance Kevin M. Wolfgang Evergreen Apartment Group Ernest Dianastasis Stephan Lehm Michael Ratchford Patrick Callihan Tech Impact

Young Conaway Stargatt & Taylor, LLP

The Precisionists, Inc.

VanDemark & Lynch, ret.

W. L. Gore & Associates, Inc. *Treasurer

Michael J. Quaranta President

Melissa Brayman Office Administrator

Kelly Basile Vice President, Strategic Communications

Regina Donato Manager, Program & Communications

Tyler Micik Director, Public Policy & Government Relations

Amanda Schimmel Manager, Marketing & Accounting

Fred Miller Advertising/Retention

Kerri Welcher Events Manager

STAFF

1201 NORTH ORANGE STREET, P.O. BOX 671 WILMINGTON, DE 19899-0671 WWW.DSCC.COM

Ken Evans Account Executive

Helana Rodriguez Director, The Partnership

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LEGISLATIVE PRIORITY

Reflecting on 2023

PHOTO BY DICK DUBROFF/FINAL FOCUS

BY TYLER MICIK

IN MY LAST ARTICLE, I highlighted the State Chamber’s Member-to-Member program and explained the importance of scheduling site visits with members of the General Assembly. By the end of September, we completed several of these meetings with more scheduled before year end.

Meetings held thus far include: • Zip Code Wilmington hosted Senator Bryan Townsend • Waste Management welcomed Representative Sophie Phillips • Walmart met with Representatives DeShanna Neal and Kendra Johnson The State Chamber would like to extend DSCC’s Tyler Micik (right) and Senator Bryan Townsend a sincere thank you to our members for (second from right) with Desa Burton (left) and her team. hosting these meetings and to members of the General Assembly for taking the time operating budget, the largest in state history, for Fiscal Year 2024 to visit, meet employees, and learn how the and a 194.5M supplemental budget in one-time measures and company operates. contingency funds.

I had the pleasure of participating in these meetings, and I’m Add that to the list of people who’ve announced candidacy for confident that all parties walked away with a greater understanding office in the state’s federal and local delegations, gubernatorial and and appreciation for the work each other is doing. While we may not always agree on a particular issue, a lot can be learned by sitting lieutenant gubernatorial races, and there’s a lot of changes and uncertainty looming in the air. down at the table together, having a conversation, and listening to Times will continue to change and despite uncertainty, businesses each other. will remain creative to be successful and the State Chamber with For example, after visiting Zip Code Wilmington and talking with Executive Director Desa Burton and students in the program, continue to bring parties on both sides together to help support Senator Townsend expressed: businesses and their employees.

“I applaud Zip Code Wilmington’s tremendous efforts and As we approach a new year, the State Chamber is in the process of success in providing critical training to Delawareans and helping drafting its 2024 policy priorities and is looking for recommendations them open doors to rewarding careers. Zip Code’s focus on and feedback from our members. Priorities focus around six key areas: developing hard and soft skills across an expanding range of content workforce development, training, and education; environment, energy, areas and age groups will promote dynamism and preparedness in and sustainability; health care; economic development; technology; the Delaware workforce, strengthen the Delaware economy, and and fiscal policy. If you have thoughts or recommendations on any uplift individual families for generations.” of these areas, please reach out to me at tmicik@ As the end of 2023 draws near, I think it’s important to reflect dscc.com. on the past year and talk about some of the key things that happened. The General Assembly saw significant changes this session, such as the addition of nine new legislators—three seats Tyler Micik is the Delaware State Chamber in the Senate and six in the House. It also brought changes to the of Commerce’s director of public policy and House with the selection of an all-female leadership team, the first government relations. in Delaware history. Lastly, the General Assembly passed a $5.6B DELAWARE BUSINESS

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Stay Informed, Stay Connected AARP Delaware Puts a Focus on Fun and Fulfillment

By Lucretia Young, AARP Delaware State Director AARP’s My Personal Time is a suite of offerings designed to help all people, including AARP members, enjoy exactly that. And enjoying personal time includes staying informed and socially connected to friends and family. We know it’s a top priority in today’s world. Quality time with loved ones really is priceless. And in the digital age, it is easy to find opportunities to connect with family, friends, and AARP, discover new on-ramps to fun, and enjoy shared interests.

Achieving your best life is so much more than simply enjoying good health or financial security. Medical advances, changes in work and the workplace, mobile technology, and other shifts have opened new experiences for everyone. As a result, expectations, needs and aspirations have evolved.

We know that people today focus less on age, and more on where they are in life.

The reality is we are all aging—regardless of race, gender, class, ethnicity, or sexual orientation—but the way we are aging is changing. Our ability to live longer, healthier, more productive lives is one of our greatest accomplishments.

Each year, AARP Delaware offers a full range of fun events designed to keep your mind active, your social networks intact, and your digital skills up-to-date.

In 2023, AARP Delaware hosted more than 8,000 members and their friends who tuned in for virtual events. They enjoyed biweekly yoga, webinars on Medicare and Social Security, and the very popular online BINGO. Also, a series of Leadership Conversations with Attorney General Kathy Jennings, Senator Tom Carper, Congresswoman Lisa Blunt Rochester, and New Castle County Register of Wills Ciro Poppiti were streamed live onto AARP Delaware’s Facebook page.

A virtual event focusing on Fighting Veterans Fraud that featured a veteran who was scammed and Delaware Deputy Attorney General Dashieli Radosti was informative and reached veterans statewide.

AARP Delaware also began hosting a few in-person events again. Our sponsorship of the Amish Country Bike Tour amplifies our commitment to better transportation options and better health. Our team at AARP Delaware interacted with thousands of cyclists as they embarked on several bike rides aimed at different fitness levels.

As we begin to plan for 2024, we encourage Delawareans to view www.aarp.org/DEEvents to learn about our new offerings.

Like us on Facebook at www.facebook.com/AARPDelaware and follow us on X at www.x.com/AARPDE 4

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People focus more on moving into a new chapter. They are optimistic, motivated, open to new interests, and brimming with “what’s next” energy. They regularly rethink life, their happiness quotient is up, and they want to give back, see the world, and be relevant. Put simply, they want to lead rich, full, and fun lives.

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news&Notes First Citizens Community Bank BUSINESS SPOTLIGHT:

BY COLIN HEFFINGER One of the numerous traits that sets Delaware apart is its diversified and respected business community. A walk into any local business often sparks rich, meaningful interactions, quickly building an unprecedented level of trust with clients.

There’s a consistent sense of tight-knit community that extends across small businesses, large corporations, and even the brands that serve them. First Citizens Community Bank (FCCB), a full-service bank dedicated to investing in local communities, built its history on the focus of strengthening personal relationships and has been thrilled to continue their foothold of expanding branches throughout the First State.

Originally founded over 150 years ago under the name of Ross and Williams Bank, FCCB has seen excellent growth from its start in Mansfield, Pennsylvania. The bank expanded into New York, further parts of Pennsylvania throughout counties like Lancaster, Centre, Lebanon, and Schuylkill, as well as New Castle and Kent counties in Delaware, leading to a total of 33 offices. They’ve also completed a merger with Huntingdon Valley Bank, which will bring in nine more branches.

Doors opened for their most recent office in Greenville’s Powder Mill Square on November 15, 2022.

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James Dahlke, office manager for the Greenville branch, explains what sets FCCB apart in their approach to banking. “We’re a fullservice bank that provides the same offerings as larger banks but with a focus on local decision making,” Dahlke says. “By giving the decision making to our local branch teams, we’re always available for our clients, while effectively being able to serve their needs in an efficient and personal manner.”

The word “community” in their name hints to FCCB’s commitment of uplifting surrounding neighborhoods and businesses. “As a community-focused bank, we continuously look at opportunities to give back to nonprofits and projects important to us,” Dahlke states. “We’ve pivoted in Delaware to give back through the Food Bank of Delaware’s backpack lunch program, which provides meals to children outside of school—like on holidays and weekends. Also, considering the extensive amount of farming in this area and our CEO’s background as a farmer, agricultural lending has become a huge effort for us to aid and strengthen local farms.”

Even as many banks have been opening new branches, FCCB’s Greenville

location stands out as one of the only still providing security deposit boxes—an offering that is valuable to small business owners. Additionally, Dahlke takes care in investing in a team with diversified banking experience throughout Delaware, ensuring that clients are met with talented expertise in local markets. FCCB then trains each of its team members to stray away from working in silos, instead creating a collaborative atmosphere that further contributes to an efficient and specialized customer experience.

Dahlke reflects on the future of FCCB. “I’m excited for our continued growth potential in Greenville,” Dahlke explains.

“Hearing the stories of our clients and being able to advise them and see the material results make this work truly meaningful. Whether it’s helping a family send their kid to college, purchase their first home, or take initial steps into retirement, the relationships and care we build for our clients lead to better, lasting results.

“Even though our roots flourished in Pennsylvania, people can rest assured they’re working with a local team dedicated to providing for their needs.”

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news&Notes

NONPROFIT SPOTLIGHT:

American Cancer Society

Cancer is more than just the diagnosis and treatment of the patient. It is the familial trials and tribulations, the confusion and worry that accompany the initial news, and a forever journey for many, regardless of remission. For more than 100 years, the American Cancer Society (ACS) has worked to guide people through this very journey with a mission to end cancer as we know it.

“The ACS is the leading cancer fighting organization,” Jason Plaia, director of development, says. “When someone hears the words ‘you have cancer,’ the hope is that that person will reach out to us and allow a connection to be made. In

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the end, we are that vetted organization and we can provide the necessary information and support to make a conscious decision.”

The ACS’s functions encompass a wide range of territory. “Everything that we do is dedicated to primarily three focus areas: advocacy, research, and patient support,” explains Paula Green, vice president for the Greater Philadelphia area. In addition to their own advocacy— which underscores everything they do— their sister organization, the American Cancer Society Cancer Action Network, is specifically dedicated to policy and legislative action. Ultimately, the ACS strives to impact as many people as

BY AMANDA SCHIMMEL

possible and solidify fair access to cancer prevention and treatment.

The organization’s patient support covers all of the services provided to patients and loved ones. Green remarks, “we touch millions of lives every year through our 24/7 cancer information center hotline and many more of our patientfacing programs.” Research and fundraising also go hand in hand for the ACS, as the fundraising done through events and campaigns is directly invested into cancer research. In fact, the organization is the second largest funder for cancer research next to the government.

One of ACS’s programs even fosters the next generation of women-led

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research. Megan Kutzner, senior development manager for the Greater Philadelphia area, describes the RESEARCHERS initiative as “a campaign that brings together female community and business leaders to raise funds and awareness for women-led cancer research.” As half of the grantees within the American Cancer Society identify as women, this initiative ensures that grants are given to the best and the brightest in the cancer space and that careers are not disrupted after parental leave.

This initiative also funds the Summer Healthcare Experience (SHE), a virtual two-week program for high school girls interested in STEM; those who

COMMITTEE SPOTLIGHT:

Tax & Finance

Our Tax and Finance Committee met in late August and was joined by Representative Paul Baumbach who chairs the House Revenue & Finance Committee. He provided insight and answers on some of the key tax policies, which the committee voted on this past year, and touched on several bills. Of note were HB 128, which would create new tax brackets for taxable years after December 31, 2023, and HB 168, which requires short-term rental agencies to pay the same short-term rental tax paid by all hotels, motels, and tourist homes in Delaware. Neither bill passed this session, and both will be carried over to next year.

The group also reviewed Delaware’s

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participate experience a great first look into what a future in the sciences involves. Kutzner explains, “It’s really exciting because I know at that age I had no idea what was out there in terms of careers, so being able to introduce this career path is a huge point of pride for me.”

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Another rewarding way to get involved is the Road to Recovery program, which provides patients with free rides to treatment. “As we get more drivers, we will get more ride requests, so right now we are working hard to fill the ranks of volunteers,” says Plaia. Additionally, anyone is welcome to participate in their Making Strides Against Breast Cancer and Relay for Life events, both excellent opportunities to help raise funds for a great cause.

Kutzner perfectly summarizes the organization’s mission when she remarks, “For me, the American Cancer Society means being there for the patients and their families for every step of the journey.”

BY TYLER MICIK

personal income tax withholding requirements for nonresident employees under the “convenience of the employer rule” and the Division of Revenue’s NOL limitation policy following the Delaware Supreme Court’s decision in Director of Revenue v. Verisign, Inc., Del. Sup. Ct., C.A. No. N19C-08-093 (11/29/21).

Delaware is among a small number of states that defines source income for nonresident employees as including compensation for services that are “attributable to employment in this State and not required to be performed elsewhere.” For nonresidents that work remotely for Delaware employers, this rule requires withholding Delaware personal income tax on their wages

unless their work is required to be performed outside of Delaware by the employer, not just permitted for the convenience of the employee. A nonresident’s home state generally allows workers to claim some credit on their personal income tax returns for taxes paid to another state. However, New Jersey recently passed a law that could eliminate this credit, which could be burdensome for employees that work remotely for a Delaware employer but live in New Jersey.

The committee will continue to discuss and work with Rep. Baumbach on these issues. If your company is interested in participating on the committee, please contact me at tmicik@dscc.com.

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Member

news&Notes DIVERSE SUPPLIER SPOTLIGHT: To create sophisticated buildings that exhibit both functionality and personality like the 2000 Pennsylvania Avenue Apartments is no simple feat. It takes a synchronized team spanning across all contributors—from owners to engineers, to architects and builders themselves. With wideranging iconic sites like the Rehoboth Beach Country Club, Beebe Healthcare at College Park Medical Pavilion in Georgetown, and the recent Hyatt Place on Main Street in Newark, GGA Construction has set the standard for leading through teamwork to construct buildings with lasting impacts on local communities.

GGA Construction specializes in construction management, designbuild services, general contracting, and program management for diverse clients across all of Delaware, lower Pennsylvania, and parts of eastern Maryland. The team typically serves industries such as health care, retail, entertainment, hospitality, education, and senior care—extending their collaborative internal culture to work closely and achieve the unique goals of every project.

GGA Founder and Partner Lorri Grayson explains how a focus on team values serves as a catalyst for their work. “What ties our team together is what we create,” Grayson states. “All of

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GGA Construction

our projects are lasting and valuable to the community. It’s something tangible that we may drive by every day, seeing the long-term influence on businesses, residents, and even visitors. Everyone on our team is proud of the work we do.”

Two additional strategies that power GGA Construction’s success are their virtual building and integrated project delivery systems. The construction team utilizes the 3D model as the main driver for collaboration with the owners, architects, engineers, and other key project team members. It is especially helpful by providing the opportunity to walk through a digital space and view it in a variety of layers and modifications.

This is further enhanced through integration of buy-in from all contributors at the beginning of the project. Each

BY COLIN HEFFINGER

member can anticipate upcoming challenges based on their role in the construction, enabling the team to adapt and save costs, time, and materials simultaneously.

GGA Construction recently expanded into southern Delaware, opening an office in Rehoboth. Grayson is enthusiastic about projects like a hotel in downtown Rehoboth and renovations to the Lewes Yacht Club. She also moved to Rehoboth to strengthen their direct impact further. “It’s important that we serve all of Delaware, including Sussex County,” Grayson justifies. “We also have an office in Milton, ensuring that our reach extends across all three counties, and even to Maryland’s eastern shore.”

Though new building projects are popping up throughout Delaware, Grayson stresses the importance of adjusting to challenges like workforce development. “The construction industry has an average age of 55,” reflects Grayson. “It’s also mostly men in construction—women have typically been in office roles. We’re huge proponents of bringing more women into the construction field and highlight it as a rewarding career opportunity. Who’s going to build for us if everyone goes to college? More people need to explore the trades soon, or our society is going to have a big problem ten years from now.”

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AMBASSADOR SPOTLIGHT:

Nadir Rasheed

The Delaware State Chamber of Commerce’s Ambassador Committee serves as outward-facing representatives of the organization with three key goals: fostering new relationships; engaging member businesses and the community as a whole; and amplifying the voice and mission of the State Chamber. Meet our featured ambassador: Nadir Rasheed, senior outside sales representative at Waste Management.

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How long have you been in Delaware?

What brought you to the First State?

I have been in Delaware for nearly two years now. I lived in Birmingham, Alabama for 51 years and was in the process of marrying my wife who lives in Smyrna. She has a son who was approaching his senior year in high school, and I couldn’t make him leave his friends by moving to Alabama.

Because his dad also lives in Smyrna, I decided to relocate to Delaware to make things easy for everyone. I moved to Smyrna on November 21, 2021, and I haven’t looked back since!

What most excites you about the Delaware State Chamber of Commerce and its mission to bring parties together to solve problems, create jobs, promote business, and improve the quality of life for all Delawareans?

What excites me most about the State Chamber and its mission is the passion and genuine energy of its staff. I love the attention to detail and focus they bring to every

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From left: DSCC intern Isabel Levatino, Nadir Rasheed and Carlos Dipres Ramirez of Waste Management at a DSCC networking breakfast. event. From legislation to the social issues that impact the business community, the State Chamber displays a serious commitment to the entire state of Delaware.

DSCC’s energy is CONTAGIOUS! What made you apply to be an ambassador?

The advocacy and networking the State Chamber exposes Delaware businesses to—on a local and global scale—truly impressed me. Because of my love for people and gift of building rapport with individuals, I saw a great fit for myself when the opportunity to become an ambassador became available. I am humbled and extremely grateful to be a volunteer ambassador for the Delaware State Chamber of Commerce.

What’s one piece of advice you would give to other State Chamber members?

The advice I would give to other members is to stay connected and stay involved. As a society, humanity is only

as strong as the collective group. The State Chamber’s mission and pillars allow us all to play a vital role in making Delaware even more beautiful than it already is. Tell everyone you know and those you don’t know about the Delaware State Chamber of Commerce.

What do you enjoy doing in your free time outside of work?

During my free time I enjoy reading, listening to jazz music, and writing. I am a self-published author of a book of poems called Poetry in Motion. When the word of my book gets out, I truly believe I will have given back to society and humanity what has been given to me.

Find Nadir’s book on Amazon here ▶

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Member

news&Notes How Delaware Will Benefit from Offshore Wind

BY CHRIS BASON

As America’s offshore wind industry advances, the State of Delaware has taken important steps this year to ensure its businesses and workers enjoy the industry’s immense benefits.

As the U.S. offshore wind leader, Orsted is playing a central role in creating an “American-made industry” across the U.S., featuring offshore wind steel components, assembly centers, maintenance facilities, bespoke service vessels, and more.

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Consider our recent progress: • Our South Fork Wind Farm off New York’s coast is now under construction to deliver renewable energy to 70,000 homes in the northeast while creating hundreds of local jobs for New Yorkers.

• In Connecticut, our Revolution Wind project received approval from the U.S. Department of Interior, and we’ve begun onshore construction. Revolution Wind will also create hundreds of jobs and apprenticeships, improve local port infrastructure and supply chains, and protect native species and ecosystems across the state.

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• In Maryland, we forged a $72 million partnership with Crystal Steel on the Maryland/Delaware line to supply prefabricated steel components to use across our U.S. project portfolio. We are also enabling Maryland’s first offshore wind advanced foundation component center at Tradepoint Atlantic in Baltimore, creating 145 local jobs.

• And in Louisiana, more than 400 workers are building the ECO Edison, America’s first offshore wind service operation vessel that will be servicing offshore wind projects for decades to come.

From welders and electricians to engineers and turbine technicians, the offshore wind industry is powering promising careers for thousands of American workers.

What does this mean for Delaware?

We believe the First State has a strong opportunity to join this growing offshore wind supply chain and make this clean, domestic source of energy a big part of its future.

During the first half of this year’s legislative session, lawmakers enacted the Offshore Wind Transmission and Procurement Planning Act. The law commissions a joint study with PJM, the regional electric grid operator serving Delaware and other states, on the local transmission impacts of offshore wind development.

The State is also developing a plan for the potential procurement of offshore wind power and has backed a goal to reduce net greenhouse gas emissions by 50% by 2030, creating an even greater

incentive for local clean energy development.

Orsted is excited to be developing Skipjack Wind, a 966-megawatt offshore wind project off the Delaware coast that will power nearly 300,000 homes in the region with renewable energy. Skipjack Wind will create hundreds of jobs in Delaware as we make significant investments in modernizing the local electric grid and associated energy infrastructure. This will be a direct injection of capital into the Delaware economy, creating good-paying jobs for Delaware workers. Skipjack Wind will also benefit our environment, as the renewable energy we produce offsets millions of tons of carbon dioxide pollution.

As a lifelong Delawarean, I firmly believe offshore wind will strengthen our economy and our environment.

Delaware businesses are encouraged to register at www.orstedprocurement. com to be identified for potential contracting opportunities with Skipjack Wind, Orsted’s broader U.S. portfolio, and the suppliers that are delivering our nation’s offshore wind farms and grid-modernization projects.

Chris Bason is Orsted’s stakeholder relations lead for Delaware.

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Message from the Chair This month we celebrate the Marvin S. Gilman Superstars in Business award winners. These awards are given annually to businesses in recognition of their outstanding achievements and distinctive approaches to managing day-to-day operations.

Even if you have not participated in the Superstars in Business awards program, you can learn from the application process in order to evaluate where your business is relative to peers and what additional steps may be needed to stay successful well into the future.

The Superstars application requires businesses and nonprofits to perform a critical assessment of their organization’s practices. The questions look at all aspects of the entity, from purpose to metrics to community. This selfevaluation is designed not only to celebrate your successes but to examine the areas needing improvement as well.

These are the kinds of questions every business, regardless of size, should address at least annually: Purpose: What’s your mission statement and/or philosophy? How do you align your day-to-day operations to this statement/philosophy?

Metrics: What are your key metrics

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and how are you measuring results?

How do you use metrics to measure performance and plan for the future?

Customers/Supporters: How do you engage with your customers/supporters?

How do you differentiate yourself from your peers/competitors? How do you react to complaints and/or bad press?

Workforce: How do you recruit, train, and retain employees, volunteers, and/or staff? How do you engage your staff so that they feel a part of the mission?

Adversity: What challenges have you had to overcome? What did you learn in overcoming the challenge and how did your business become more resilient as a result?

Giving Back: Does the entire organization engage in the community, and how does it align with your mission and values?

I’ve had the privilege of being personally involved with the Superstars in Business program, as an applicant as well as a member of the selection committee. When the Cover & Rossiter leadership team met to address the application questions, it was a humbling experience. Sure, we celebrated areas where the firm excelled, such as leadership development, expertise in

I would also like to congratulate all of this year’s deserving winners. Small businesses and nonprofits are the backbone of local communities as they create 62% of new jobs and generate 44% of U.S. economic activity, according to the Small Business Administration.

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niche industries, and adopting a futureready mindset. However, the discussion also opened our eyes to areas that needed work, such as measuring client satisfaction.

As a member of the selection committee, I was particularly impressed with the ingenuity of the award winners.

The experience as a committee member gave me a sense of great pride in the accomplishments of businesses in our state, and I look forward to working with each of these businesses as chair of the State Chamber’s Board of Directors.

On behalf of the Delaware State Chamber I would like to thank the Gilman family for their support of this award for the past 25 years—a monumental anniversary. Their commitment to Delaware’s business and nonprofit community is a testament to the ideals promoted by the State Chamber.

I would also like to congratulate all of this year’s deserving winners. Small businesses and nonprofits are the backbone of local communities as they create 62% of new jobs and generate 44% of U.S. economic activity, according to the Small Business Administration.

I hope these lessons from the Superstars will encourage you to do a self-evaluation of your own business or nonprofit. You’ll be amazed at what you will learn!

Marie Holliday, CPA is managing director of Cover & Rossiter.

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Member

news&Notes Funding Success and Equity

HOW DELAWARE’S NEW SSBCI FUNDING PROGRAM BENEFITS BOTH SMALL BUSINESS BORROWERS AND THEIR LENDERS BY PROVIDING ACCESS TO CAPITAL BY ANDREW HARTON One of the biggest challenges for Delaware’s small businesses, and particularly those in underserved areas, is a lack of access to funding to start or expand their business.

The Delaware Division of Small Business (DSB) is helping to address that through $60.9M in federal funding from the U.S Treasury’s State Small Business Credit Initiative (SSBCI). This is the federal program’s second installment of SSBCI, having learned valuable lessons from its first round in 2010.

The funds provide incredibly flexible lending tools for financial lending institutions to help support small businesses in the state, reduce their lending risk, and expand community outreach.

The goal of SSBCI-funded initiatives is to support small businesses, particularly those that are owned by socially and economically disadvantaged individuals.

DSB is offering two programs through SSBCI that benefit both lenders and small business owners. The Division is actively searching for lenders to participate.

The Delaware Loan Participation Program (DELPP), and Delaware Capital Access Program (DECAP) make funding available to financial lending institutions such as banks, credit unions, other lenders, or fund managers. Small business owners will apply to their lender for these programs, and the lenders will work with the Division to secure the funds. Here are descriptions of each program:

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DELPP: When a lending institution may not cover the full amount of the requested loan, the lender may ask DSB to assist. DSB will participate in the loan as a supporting lender, and the lender’s rate will be blended with the DSB rate, resulting in an overall lower interest rate for the business owner. The business owner receives a lower interest rate and the lender’s risk is reduced by not having to cover the full amount of the loan.

DECAP: This program requires the borrower and lender to make a onetime premium payment (matched with SSBCI dollars) into a bank account (Reserve Fund) that the lender can then use as additional collateral on the loan.

It’s a valuable tool for lenders to make business loans that may not normally qualify for a conventional bank loan.

In September, Del-One Federal Credit Union (FCU) was the first financial institution to sign on as a participating lender. Del-One was excited to join the program and moved quickly to secure the partnership.

“Del-One Federal Credit Union is focused on empowering our communities by helping small businesses develop and grow,” said Del-One FCU’s Chief Lending Officer John Chartrand. “We

are proud to be a participating lender in the State Small Business Credit Initiative as we know this will help to further our mission of enriching the lives of our small business member-owners and community.”

Information about all of the SSBCI programs can be found at de.gov/ssbci.

Small business owners are encouraged to ask their lender if it is signed up for the SSBCI program, and how the program can help them support their business needs. Lenders are encouraged to visit the website and then reach out to business_finance@delaware.gov with additional questions or to sign up.

Andrew Harton is the business finance director at the Delaware Division of Small Business.

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Now is the Time for Tax Relief, Not an Increase

BY JORDON N. ROSEN, CPA, MST, AEP®

No one likes a tax increase.

The truth of the matter is that sometimes an increase is needed. This is not one of those times. House Bill (HB) 128 (effective in 2024), which passed the House Revenue and Finance Committee and is currently awaiting consideration on the House Ready List, contains such an increase.

Currently, Delaware taxes personal income on a graduated rate basis beginning at 2.2% on taxable income over $2,000, up to 6.6% on taxable income above $60,000. The bill would add another bracket of 6.9% on taxable income over $100,000. This is not good for several reasons.

First, it opens the door for adding additional higher brackets above 6.9% in future years, with the thought that adding one new bracket at a time might fly under the radar. Second, we are still in a volatile economy, with high interest rates and higher than normal inflation. At the time of this writing, the expectation is that there will be another interest rate increase by year end. Everyone, in all tax brackets is hurt by higher interest rates on credit cards, home equity loans and auto purchases, as well as higher than normal inflation reflected on grocery bills and when filling our gas tank. Burdening any group of taxpayers with higher tax rates is simply adding salt to the wound.

A positive aspect of HB 128 is that it both expands the 4.8% bracket and completely eliminates the 5.2% bracket.

This lowers the tax burden for many Delawareans by avoiding “bracket creep”, whereby an individual’s taxable

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income otherwise creeps into a higher bracket over time due to inflationary wage increases, but they are otherwise in no better financial condition due to the effects of inflation. By contrast, however, the bill does not provide expansion of either the 5.55% or the 6.6% brackets.

To be fair to all Delaware taxpayers, all tax brackets should be indexed annually based on the prior year’s cost of living index to avoid bracket creep.

A corresponding bill is HB 89, which doubles the Delaware standard deduction beginning in 2024. This is certainly a welcome move as it will cause many taxpayers to switch to the standard deduction (and increases the deduction for those who already don’t itemize), saving many Delawareans from the burden of recordkeeping, as well as the State’s burden of administration and examination. Where

this bill falls short is that it does not provide a similar provision to increase the additional standard deduction for taxpayers age 65 and over or blind. The Delaware legislature needs to address this oversight, given the growing population in the state of taxpayers aged 65 and over.

As if a rate increase, bracket creep, and no change to the additional standard deduction would have a negative impact on our senior population, the legislature also needs to consider doubling, or at least indexing the $12,500 annual pension and retirement income exclusion for those age 60 and over ($2,000 pension exclusion for those under age 60).

These limits have long been stagnant and eroded by inflation, reducing the purchasing power of senior citizens.

Keeping these limits at their original 1999 level is counterproductive as they were enacted in part to counter the fact that retirees could move to a state such as Pennsylvania, which doesn’t tax any retirement or IRA income. And again, the benefit is eroded by the impact of inflation over the past 24 years.

There is work to be done.

Jordon N. Rosen is a former tax director and shareholder at Belfint, Lyons and Shuman, CPAs and past chair and current member of the Delaware State Chamber’s Tax Committee.

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November/December 2023

| DELAWARE BUSINESS

CHAMBER

SCENE

1.

1. Attendees tested cool technology during our networking breakfast at Assurance Media.

2. We enjoyed an evening mixer at the Bellmoor Inn & Spa’s newly renovated bar area.

3. It may have been hot, but it was a par-tee on the golf course at our 29th Annual Chamber Chase Golf Tournament!

2.

3.

4. The Delaware Networking Station, co-hosted with the BBB Serving Delaware, featured nearly 90 exhibitors and 500 attendees at the Chase Center on the Riverfront.

5. Our networking breakfast at the Food Bank of Delaware’s Discover Cafe featured breakfast made by students enrolled in their culinary workforce development program.

4.

6. Season 3 of the Conversations with Kelly podcast was filmed at Tech Impact’s Data Innovation Hub in Newark.

7. The Delaware Young Professionals Network hosted the first annual “YPs & OGs Kickball Classic” at Goldey-Beacom College.

8. Our Developing Delaware Conference, held in October in Dover, focused on the “live, work, play” concept when it comes to economic development.

5.

7.

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6.

8.

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WELCOME New Members CLARK HILL

www.ClarkHill.com (302) 250-4750 824 N. Market St., Ste. 710 Wilmington, DE 19801

Clark Hill is an international team of legal

advisors focused on delivering exceptional growth for your business. At Clark Hill,

their value proposition is simple. They offer

clients an exceptional team, dedicated to the delivery of outstanding service.

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high-end experience that not only helps their

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www.edwardjones.com/us-en/ financial-advisor/elizabeth-darling (302) 792-1035 501 Silverside Rd. Wilmington, DE 19702

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HEALTHY FOODS FOR HEALTHY KIDS

www.onazry.com (484) 483-0007 1000 N West St., Ste. 1200 Wilmington, DE 19801

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and technology services with the highest

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standards of professionalism that can only be expertise, and commitment to quality.

BUTTERFLY EFFECT STUDIO FOR TRAINING

www.bestindelaware.com (302) 278-4347 415 E. Main St. Middletown, DE 19709

Founded in 2008, Healthy Foods for Healthy wish to have a school vegetable garden. administration, nutrition services staff, and

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client in mind, those who are truly serious

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| DELAWARE BUSINESS

CONVERSATIONS WITH

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A podcast for our members, featuring the experts—our members!

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Making up more than 85 percent of our membership, small businesses are the backbone of the Delaware economy. For the past 25 years, The Delaware State Chamber of Commerce (DSCC) and its Small Business Alliance (SBA) honor businesses that not only display effective business models with demonstrable results but make positive impact in their communities. All these honorees have been in business for at least three years and are small businesses based on number of full-time employees.

Awards of Excellence are also granted to deserving companies.

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2023 SUPERSTARS IN BUSINESS AWARD PLANNING COMMITTEE Marsha Auld-Saunders

2023 SUPERSTARS IN BUSINESS AWARD WINNERS Children’s Beach House, Inc. Nonprofit Category From its inception in 1936 in Lewes, Children’s Beach House has devoted itself to meeting the most pressing needs of Delaware children.

One signature program is their Youth Development Program that helps children, families, and communities build safe, supportive environments and long-term opportunistic relationships. Another significant initiative is their Margaret H. Rollins Child Development Center, which provides support for preschool learners from under-resourced families who have been identified with speech delays and/or hearing impairments.

NERDiT NOW 1-20 Employee Category NERDiT NOW, a locally and minority-owned business based in Wilmington, was created with a mission to serve the community by providing technical services, creating careers, and promoting sustainability. The organization also runs NERDiT Cares, a nonprofit that facilitates Delaware’s first certified IT Pre-Apprenticeship and Apprenticeship workforce development program, which empowers people from disadvantaged backgrounds to pursue IT careers.

Breakwater Accounting & Advisory 21-60 Employee Category Founded in 2014, Breakwater Accounting & Advisory provides outsourced bookkeeping and controller services for small- to midsized businesses, nonprofit organizations, and private clients across the country. Breakwater is made up of a strong team of people across 19 states who care about their clients’ success and share a common purpose to deliver peace of mind.

Belfint, Lyons & Shuman, P.A. 61-150 Employee Category Celebrating its 100th anniversary in business, Belfint, Lyons & Shuman (BLS) began as a small accounting practice whose staff was committed to building long-standing, mutually beneficial relationships with clients and business associates. Today, the firm has grown to one of the largest and most respected certified public accounting firms in Delaware.

CSC Pam Cornforth Ronald McDonald House Charities of Greater Delaware Kevin DiSabatino DiSabatino Construction Company Joseph Farley, Jr. Associates International, Inc. Joseph V. Giordano *Chair Whisman Giordano & Associates, LLC Kevin Jacobs Wilmington Trust

Christa McLaughlin Whisman Giordano & Associates, LLC Joseph Nadel Colonial Parking, Inc. Chip Rankin milliCare Floor & Textile Care Brett Gilman Smith Cornell Property Management Corp.

Michael F. Vanderslice Environmental Alliance, Inc. Jaimie Watts Leadership Delaware, Inc. Shawn Williams First Citizens Community Bank

2023 SUPERSTARS IN BUSINESS AWARD SELECTION COMMITTEE Marsha Auld-Saunders CSC Angela Coaxum Your Part-Time Controller Pam Cornforth Ronald McDonald House Charities of Greater Delaware Kevin DiSabatino DiSabatino Construction Company Joseph Farley, Jr. Associates International, Inc. Martha S. Gilman Cornell Property Management Corp.

Joseph V. Giordano Whisman Giordano & Associates, LLC Sarah Hench Delaware Community Foundation Kevin Jacobs Wilmington Trust

Ryan Kennedy KENNEDY | Marketing. Events.

Public Relations.

Rev. Thomas Laymon Sunday Breakfast Mission Joseph Nadel Colonial Parking, Inc. Chip Rankin milliCare Floor & Textile Care Danielle Scull Assurance Media, LLC Brett Gilman Smith Cornell Property Management Corp.

Michael F. Vanderslice Environmental Alliance, Inc. Jaimie Watts Leadership Delaware, Inc. Shawn Williams First Citizens Community Bank Laura Wisler Delaware Division of Small Business

AWARD OF EXCELLENCE RECIPIENTS: OperaDelaware (Nonprofit Category) RiversEdge Advisors, LLC (1-20 Employee Category) TORREngineering, LLC (21-60 Employee Category) Aloysius Butler & Clark (61-150 Employee Category) DELAWARE BUSINESS

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NURTURING POTENTIAL, TRANSFORMING COMMUNITIES Nonprofit: Children’s Beach House

BY AMANDA SCHIMMEL | PHOTOS BY NICK WALLACE PHOTOGRAPHY

IN THE HEART OF LEWES, Delaware, stands a beacon of hope, support, and one of this year’s Superstars in Business winners: the Children’s Beach House (CBH). Founded in 1936, CBH has been a steadfast ally for the underprivileged, nurturing the potential of children and youth, and catalyzing a positive ripple effect across communities.

At the core of this nonprofit lies a mission that goes beyond service 20

responsibility—to improve the lives of children, youth, families, and communities by helping them to identify, understand, and utilize their own strengths.

For nearly a century, CBH has helped its community through a variety of programs, building safe, supportive environments and long-term relationships for children and families along the way. “Typically, these are November/December 2023

| DELAWARE BUSINESS

For nearly a century, CBH has helped its community through a variety of programs, building safe, supportive environments and long-term relationships for children and families along the way.

the children who are left behind and not included in activities with their peers, and who are all too often misunderstood, even by many of the adults in their lives.” explains Executive Director Richard Garrett.

The CBH offers two youth-serving programs, one of which is the Margaret H. Rollins Child Development Center (CDC). This program focuses on preschool learners identified with speech or language delays and/or hearing impairments. Through a blend of individualized instruction and lower student-to-staff ratios, the CDC equips these children with essential academic foundations and emotional skills, setting the stage for a successful educational journey. Garrett adds, “Every family enrolled is also assigned a family engagement coordinator who works directly with the families and school professionals to build additional safety and support.”

Another engaging program is CBH’s Youth Development Program, which provides ongoing and year-round support to children ages seven to 18 who: live in the state of Delaware; have an Individualized Educational Plan (IEP) to address speech, language or hearing delay or disability; and come from under-resourced families (or are children from under-resourced families who are attending school in Milton) During the summer season, camp programs also offer a chance to enjoy the sun, sand, fresh air, exercise, and friendship at the Delaware Bay-side facility. By engaging with the children and families, CBH offers exciting opportunities and activities that may otherwise be inaccessible.

CBH separates itself from the competition through its comprehensive approach. Unlike traditional service providers, the organization doesn’t just touch the lives of children, it envelops entire families and communities by creating a long-term partnership. The organization commits itself to serving and supporting whole families through high school graduation.

Additionally, the Board of Trustees plays a pivotal role in CBH’s success.

“They are a very highly engaged group of professionals who generously give their time, talent, and treasure,” says Garrett. Their unwavering dedication and innovative financial planning have not only ensured the organization’s sustainability but also paved the way for exciting expansions.

Volunteers are another integral part of the nonprofit’s operations. After completing the required training, volunteers are welcome to choose which area they would like to assist with; program, camp, event, administrative, DELAWARE BUSINESS

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and facilities volunteers all work to engage Delaware’s youth. Volunteers are supported by the program supervisors and these personal relationships engender trust and commitment. For CBH, volunteer loyalty is at an all-time high and the organization truly thrives on the generosity of individuals, organizations, and volunteers who contribute their time, resources, and love to ensure that every child’s experience is unforgettable.

The Children’s Beach House stands as a testament to the enduring powers of compassion, inclusion, and the natural beauty of the beach. It has transformed lives, one seaside smile at a time, and continues to do so today. As CBH forges ahead, crafting cherished memories and fostering personal growth in the children it serves, it embodies the idea that every child—regardless of their abilities—deserves a chance to experience the sheer wonder of the beach. n 21

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REPURPOSING WITH PURPOSE 1-20 Employees: NERDiT NOW

BY REGINA DONATO | PHOTOS BY NICK WALLACE PHOTOGRAPHY

IN THE HEART of the East Side of Wilmington, NERDiT NOW is a driving force for the community, empowering individuals, bridging divides, and making a positive impact through its unique blend of tech-centric services and community-oriented initiatives. Founded in 2015 by Markevis Gideon, NERDiT NOW has grown exponentially over the years, introducing innovative repair services like the NERDiT Ambulance and NERDiT Kiosk (both featured on Shark Tank) and workforce development programs through their nonprofit arm, NERDiT CARES. 22

This is quite a remarkable feat for something that started out as a man in his apartment repairing computers. NERDiT NOW has been able to demonstrate this growth and success through its four guiding principles: empowerment, accessibility, sustainability, and collaboration.

EMPOWERMENT At the core of NERDiT NOW’s mission lies empowerment. “We believe in empowering individuals by providing them with the skills and resources needed to navigate and excel in the digital world,” elaborates November/December 2023

| DELAWARE BUSINESS

Gideon. NERDiT NOW recognizes that technology is not just a tool but also a gateway for opportunity. By offering affordable technical services and the gateway to a successful career pathway, they empower individuals from all backgrounds to harness the power of the IT field.

NERDiT NOW’s commitment to empowerment extends within its ecosystem. For example, NERDiT CARES, a nonprofit led by Jess Gibson Broenbaugh, facilitates workforce development pathways and device donations. Delaware’s first certified IT Pre-Apprenticeship and Apprenticeship Academy enables individuals from disadvantaged communities to pursue successful careers in IT. These programs are designed to provide the skills and certifications necessary for meaningful employment in the tech industry. NERDiT CARES recently cut the ribbon on their new location, which includes the NERDiT CARES Repair Corner, on West Ninth Street in Wilmington.

it most. Through these efforts, NERDiT NOW is helping individuals access the tools they need to thrive in the digital age.

SUSTAINABILITY In the pursuit of empowering individuals and communities, NERDiT NOW also remains committed to environmental sustainability. “We promote the responsible use of technology by emphasizing the repair and reuse of IT equipment to reduce waste and environmental impact,” Gideon states. “We really want to highlight the repurposing piece, since so many electronics that are traditionally ‘recycled’ can be used again by someone who needs it.” As Delaware’s only R2 certified electronics recycling company, NERDiT NOW sets a high standard for responsible e-waste management for those pieces that are beyond repair.

Their stringent recycling and refurbishment processes ensure that all materials are handled and disposed of responsibly, preventing environmental degradation caused by improper waste management. By incorporating sustainable practices throughout their operations, NERDiT NOW demonstrates its commitment to protecting the environment and reducing its ecological footprint.

COLLABORATION

ACCESSIBILITY “The mission of NERDiT CARES is simple: we must close the digital divide by creating equitable access to technology devices and offering industry standard technological career training, apprenticeships, and job placement,” says Gideon, highlighting the organization’s dedication to accessibility. The digital divide remains a significant issue in today’s world, and the NERDiT ecosystem is actively working to bridge this gap.

One of their key initiatives is donating IT equipment and infrastructure to underserved communities, schools, and organizations.

By refurbishing electronics, they not only extend the lifespan of devices but also provide affordable and reliable technology to those who need DELAWARE BUSINESS

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Collaboration is the cornerstone of NERDiT NOW’s approach. “We foster partnerships and collaboration with stakeholders to maximize our impact and create a network of support,” says Gideon. The company actively engages in community service efforts, supporting causes related to the environment, underserved communities, and social equality.

Through partnerships with local nonprofit organizations and e-waste collection events, NERDiT NOW actively contributes to environmental care. By refurbishing electronics and providing access to affordable technology, they help underserved communities thrive. Additionally, their initiatives for social equality ensure that technology, job opportunities, and skills development are accessible to all.

Gideon leads NERDiT NOW by example in driving the company’s commitment to community service. The company’s massive community impact over the last near-decade has earned them a Superstar in Business award.

“Partnerships, such as the one we share with the Chamber, offer distinctive opportunities for collaboration. We work closely with a wide range of partners in the community, and it is our hope to expand these partnerships to create a more sustainable ecosystem here in Delaware,” says Gideon. “We are deeply honored to be recognized for our achievements.

Being a Superstar in Business means not only attaining financial success but also prioritizing sustainability and community impact.” n 23

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BEYOND THE BALANCE SHEETS

21-60 Employees: Breakwater Accounting + Advisory

BY AMANDA SCHIMMEL | PHOTOS BY NICK WALLACE PHOTOGRAPHY

BREAKWATER ACCOUNTING + ADVISORY came to fruition after CEO and Founder Lee Podolsky recognized a gap in the accounting and financial industry. Podolsky found that many business owners were not receiving the level of support and guidance to make well-informed decisions; there was essentially a huge discrepancy between the information provided by accountants and the clients’ understanding of their financial operations.

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Drawing from her experience as a freelance accountant during her daughters’ early years, Podolsky launched Breakwater in 2014. Offering flexible work opportunities, utilizing technological advancements, and having a unified passion for helping others are all qualities that solidified Breakwater’s position as a 2023 Superstar in Business.

As an advisory corporation, Breakwater provides outsourced bookkeeping and controller services for small to midsize businesses, November/December 2023

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“A strong work-life balance is a top priority here because there are a lot of people that can’t work full time, but would love to work a 20-hour week and be involved in meaningful work. From my personal experience with two children, I resonated with that need and wanted to provide those flexible options to the team.”

— Lee Podolsky, CEO and Founder nonprofit organizations, and private clients across the country. Podolsky first explored life outside of the corporate world through volunteer board positions. She explains, “I was always nominated as a treasurer, so I learned a lot about nonprofits and developed a good sense of the small business world. I began to freelance doing bookkeeping and accounting as I was raising my girls.” What began as a side job soon evolved into a company that now employs over 45 people.

Accounting work has dramatically evolved within the past few decades, and Breakwater entered the playing field just as the industry welcomed a new frontier: cloud-based technology. “Back then you had to go to your client’s office to use their computer to do anything, and it was very disruptive. In 2014, cloud-based accounting started to build momentum and I was like ‘okay, this will be how I can reach more people with my work.’” With this method, Breakwater delivers clear and meaningful financial metrics to their clients, while eliminating the stereotypical piles of paper that normally accompany bookkeeping work.

Just as Breakwater places a high emphasis on providing clients with a transparent and informational breakdown of their company’s financial standings, the organization also values its employees’ needs. Podolsky remarks, “A strong work-life balance is a top priority here because there are a lot of people that can’t work full time, but would love to work a 20-hour week and be involved in meaningful work. From my personal experience with two children, I resonated with that need and wanted to provide those flexible options to the team.”

The pandemic also brought a unique opportunity for the organization to branch out and employ accountants on a completely remote basis.

“On one hand, we garnered a lot of interest in working for us because we offered such a flexible opportunity. On the other hand, remote working can bring a sense of disconnect to the team if done incorrectly,” Podolsky explains. “To ensure a collaborative environment, we all work in micro teams that regularly meet, so nobody is on a client by DELAWARE BUSINESS

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themselves.” Breakwater also brings everyone together twice a year for an in-person extravaganza in Wilmington to keep the connection strong and discuss ways to further improve their work culture.

After being acquired by Cultivate Brands in 2021, Breakwater has the knowledge and support to grow, invest, and enhance its business plan.

Podolsky estimates that Breakwater will triple in size within the next five years. This strategic partnership decision appealed to Podolsky because of the common missions and values of the organizations, how well the businesses complemented one another, and the extra support available from entrepreneurs who had experience with scaling businesses. “And now we are just starting to invest in a sales and marketing team, so we are beyond excited for that,” Podolsky adds.

“I am most proud when one of our clients—a business owner, a nonprofit leader, one of our staff at Breakwater, or just a human—says, ‘wow. you’ve really changed my life.’ Those conversations are the most meaningful to me because everybody wants to feel like they are adding value, and that they are making a difference. And when you hear each of these stories, it’s like, ‘okay, this is all worth it,’” Podolsky concludes. n 25

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A CENTURY OF EXCELLENCE 61-150 Employees: Belfint, Lyons & Shuman, P.A.

BY REGINA DONATO | PHOTOS BY NICK WALLACE PHOTOGRAPHY

IN 1923, a small accounting practice now known as Belfint, Lyons & Shuman, P.A. (BLS) was founded with a commitment to building long-lasting, mutually beneficial relationships with clients. Today, as BLS celebrates its 100th anniversary, it has grown into one of the largest and most respected certified public accounting firms in Delaware. Over the years, the firm has expanded its services beyond traditional tax and financial statement preparation to become a trusted advisor, guiding clients in making strategic financial decisions and achieving their goals.

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100 YEARS OF CUSTOMER SATISFACTION BLS’s journey began when Charles I. Belfint established an accounting practice that prioritized personalized and interactive accounting and tax advisory services. Today, the firm continues to deliver these services through their 85-plus team members. Its diverse client base benefits from a wide range of services, including advisory services, auditing and other assurance services, tax planning and compliance, small business services, litigation support, succession November/December 2023

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“At BLS, our vision is to be a caring, empowering workplace where we are known for our learning, flexibility, innovation, and a culture of ownership.”

— Jonathan D. Moll, CPA, Executive Director of Strategy

planning, business and management consulting, and corporate services for investment holding companies.

“Our work is not just about compliance,” explains Jonathan D. Moll, CPA, executive director of strategy. “It is about being an integral part of our clients’ teams and helping them make informed, strategic decisions.”

A CLIENT-FIRST APPROACH One of BLS’s key strengths is how they prioritize the client first.

Responsiveness and gaining a deep understanding of their clients’ visions and missions is of high importance for the firm.

“The team at Belfint, Lyons & Shuman were extremely helpful in explaining the requirements and assisting me in providing any necessary documentation to complete the audit,” says one client testimonial.

“Their team is the reason we are successful each year in making the deadline for filing. I have always had a great experience with my audits.

Many of the requirements and responses are anticipated by the CPA who handles my audit each year.”

Those at BLS aim to foster a sense of being a genuine team member rather than a hired contractor. “The heart of the relationship BLS has with clients is our continuous and candid communication,” explains Jenni Fleck Jones, who specializes in marketing and recruitment for the firm. “Through our continuous service philosophy, we are accessible when clients need us throughout the year, not just during a defined engagement timeframe.”

CULTIVATING A CULTURE OF OWNERSHIP BLS recently evolved from a traditional leadership model with one executive director to a three-member executive director (ED) model in January of 2022, including an ED of administration, ED of client services, and ED of strategy. This newly implemented model creates a more collaborative approach to management by distributing the leadership roles amongst several employees, instead of just one.

“At BLS, our vision is to be a caring, empowering workplace where we are known for our learning, flexibility, innovation, and a culture of ownership,” explains Moll. Each BLS team member is empowered DELAWARE BUSINESS

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to experience a profound sense of value within the organization. This inclusive approach extends even to their interns, who are provided with meaningful responsibilities and valuable professional development opportunities during the Intern Delaware program every summer.

BLS and its staff are also deeply committed to community service and philanthropy, having impacted 90 organizations regionally through community service and sponsorship.

A PROUD LEGACY AND A VISION FOR THE FUTURE As BLS celebrates a century of service, they are reflecting on their history and roots while planning for the next 100 years. Firm leadership meets regularly to review its mission, vision, and core values, ensuring alignment with the founding principles Charles I. Belfint established.

It is this century-long dedication to their clients and employees that has allowed Belfint, Lyons & Shuman, P.A. to be granted a Superstar in Business award. “Many of our team members have dedicated most, if not our entire professional careers focused on a culture that builds off the success of our predecessors, while at the same time develops clear pathways for the firm’s future leaders so that we can remain committed to our clients and our community well into the future,” states Moll. “This Superstars honor is an endorsement for our entire team and is received with tremendous gratitude and humility.” n 27

25TH Annual Marvin S. Gilman Superstars in Business Awards The Delaware State Chamber’s Small Business Alliance and Superstars in Business planning committee appreciate the support and generosity of the following sponsors:

PLATINUM

DIAMOND

GOLD

1440 Film Co. Action Unlimited Resources Aloysius Butler & Clark Artesian Water Company Artisans’ Bank Associates International, Inc. Belfint, Lyons & Shuman, CPAs Boulden Brothers ChristianaCare Colonial Parking Cover & Rossiter CSC Delaware Athletics, Community and Campus Recreation Delaware Division of Small Business Diamond Technologies, Inc. First Citizens Community Bank milliCare by EBC PNC Bank Ryan G. Smith, M.D. Siefried Advisory, LLC Verdantas WSFS Bank

SILVER

Assurance Media, LLC BrightFields, Inc. Bumpers & Company CBM Insurance DE Cadillac, DE Subaru, & Kia of Wilmington DiSabatino Contruction Company Environmental Alliance, Inc. FideliTrade, Incorporated Goldey-Beacom College Harvey, Hanna & Associates MySherpa New Castle Insurance Peter Gilman & Family Ronald McDonald House Charities of Greater DE Santora CPA Group

BRONZE

Janssen’s Market Jewish Family Services of Delaware Schlosser & Associates Mechanical Contractors Sunday Breakfast Mission

FRIEND

Community Service Building Corporation Crown Trophy

MEDIA

Delaware Business Times Delaware Today

EVENT PHOTOGRAPHY Dick Dubroff / Final Focus

*As of 10/10/23

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Construction & Real Estate

Making Affordable Housing a Priority

BY KEVIN SMITH

OUR COUNTRY is in a severe housing crisis, compounded by a lack of supply, high interest rates, shortage of construction labor, increase in material costs, and restrictive zoning, to name a few. Some might even say we have a perfect storm where all these factors have come together to create a dynamic where more and more people cannot afford their housing.

This crisis doesn’t just affect those experiencing homelessness or struggling to get out of poverty. Low to moderate-income workers, skilled laborers, college graduates, police officers, teachers, and others are impacted by housing costs that are too high. Across the housing continuum there are simply not enough units. In functional housing markets, there would be ample housing at all levels.

The largest group of people affected by this crisis are those earning

THE HOUSING CONTINUUM Market Home Ownership Market Rental Housing Affordable Home Ownership Affordable Rental Housing Social Housing Transitional Housing Emergency Shelters Homeless

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between 30% and 100% of the median income (about $30,000-$90,000 in New Castle County). Whether they want to find an affordable place to rent or buy, there simply is insufficient supply.

Through our policies, land use decisions, indifference to the problem, and attitudes like NIMBY (or Not In My Backyard), we have collectively decided—whether consciously or not—that affordable housing is not a priority. Perhaps you or someone you know has thought the following: Who cares if someone must pay 50% of their income on housing? I don’t want that type of housing or those people living near me.

According to the National Low Income Housing Coalition, the U.S. has a 6.8 million shortage of affordable housing units; in Delaware, there is a need for over 21,000 units to meet the need. It’s imperative that we produce more housing wherever and however we can. Meeting this need will require outside-the-box thinking to find innovative solutions to this growing problem. Furthermore, addressing the crisis can’t be effectively addressed in silos. It will take all segments of society—businesses, government agencies, civic associations, faith groups, nonprofits, and individual citizens to get on board.

There are several solutions that can help address the shortage today.

One approach is to expand the availability of Accessory Dwelling Units (ADUs), which are small residences that are attached to existing homes.

The cost to rent an ADU is often more affordable than other types of rentals. Municipalities are also looking at inclusionary zoning, which requires new developments to set aside a certain percentage of units for low- and moderate-income residents. This approach incentivizes forprofit builders with density bonuses to balance out the affordable units.

Habitat for Humanity of New Castle County has built 300 homes across New Castle County since 1986 and is constantly looking for new housing solutions. For example, we are working with faith groups with available land to connect our missions to produce affordable housing.

Recently, we launched Almost Home, a rent-to-own program that gives applicants whose credit scores are just below our requirements a chance to rent for a year while they repair their credit. After improving their finances, they are elevated to our regular Homeownership Program.

Lastly, to make our homebuyer program available to more families, we have recently increased our income range from 60% up to 80% of median income per family size.

We can navigate the storm and address the housing crisis in Delaware.

The first step is to come together. n 29

Construction & Real Estate

Delaware Voices & Data The 2025-2030 Housing Needs Assessment Report Underscores a Need for Action BY EUGENE YOUNG, JR.

DELAWARE IS FACING a housing crisis. I’m sure you have noticed it. It affects us all in one way or another. I’m confident you’ve heard from friends, families, and colleagues about the various housing challenges in Delaware.

Anecdotally, the Delaware State Housing Authority (DSHA) hears more and more about the experiences of our residents. Some can’t find an affordable unit, others are being priced out of neighborhoods for homeownership, and many struggle to maintain their current housing. Our team has also recently become privy to the massive migration of people to Delaware from other states.

As a state, we have already taken historic steps to address these issues with the help of over $120 million in one-time supplemental funding provided by fiscal recovery funds from the American Rescue Plan Act (ARPA).

To deploy these funds and better align future programs most efficiently, DSHA is nearing completion of a Housing Needs Assessment. This report is produced by our agency every five years or so to assess current housing conditions, such as cost, affordability, inventory, and more.

This year, DSHA partnered with Root Policy Research to analyze demographic, housing production, and housing cost data; interview developers, service providers, advocates, legislators, and housing and community development planners; and survey Delaware residents.

Now, I know what you’re thinking... “the needs are apparent. You just shared that you hear it from residents daily.” Yes, but solving this housing crisis with qualitative and quantitative data will allow for more targeted, comprehensive, and impactful solutions.

Just as in previous years, we aim for this Housing Needs Assessment report to be used by DSHA, local jurisdictions, and housing partners to: • Inform policymaking to ensure that federal and state policies result in meaningful solutions; • Examine the adequacy of current and planned housing programs; • Advocate for increased funding to respond to housing challenges; and • Understand inequities in how different types of Delawareans experience the housing market.

While the report will be published any day now, DSHA has previewed the executive summary and reporting findings on our website. Many of the results confirmed the anecdotes DSHA, and most likely yourself, have heard over the past few years. Yet, with the data behind these experiences, a new housing landscape appears.

For instance, almost half (48%) of all workers in the hospitality and 30

entertainment industry are cost-burdened, meaning that they spend more than 30% of their income on housing. This figure is higher than the percentage of people who are unemployed or out of the labor force who experience a cost burden.

One-third of workers in the construction industry are also cost-burdened, exacerbating labor shortages and increasing development costs in the housing development industry.

In 2022, only 20% of homes for sale were affordable to households, making less than 120% of the Area Median Income (approximately $80,000 annually).

Suppose we want our workforce to reflect where we want to be as a state—diverse, stable, and sustainable. In that case, cross-sector collaboration is crucial to making meaningful progress toward addressing the shortage of affordable units. This includes communication and cooperation among state and municipal governments and the private and nonprofit sectors.

Additionally, the value of diversity includes the types of housing we develop in our state. Eighty-five percent of residential building permits statewide are for single-family detached homes, which do not meet the affordability needs uncovered in the Housing Needs Assessment.

Even with additional funding and resources provided by ARPA, efforts to address the state’s housing needs will be constrained unless state and local regulatory policies explicitly encourage the development of diverse housing types. Planning and zoning changes are needed to ensure all Delawareans can access safe housing, regardless of income, age, location, or household size.

DSHA is proud of its work on this year’s assessment, and we’re eager to continue financing new housing development projects. We’re confident that Delaware is approaching a monumental moment in our state’s housing history. DSHA looks forward to working with stakeholders and policymakers at every government level to ensure everyone has access to safe and affordable housing. Using these tools and resources and your partnership will make Delaware the perfect place to live, work, and play for years to come. n

Eugene Young, Jr. is the director of Delaware State Housing Authority.

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Construction & Real Estate

Continuing to Evolve

Steady demand for homes along our state’s beaches prompts more sustainable and efficient practices from Delaware’s Coastal Building and Construction Industry BY MARNIE OURSLER CONSTRUCTION, much like any other industry, has certainly changed over the past few years. With everything the COVID-19 pandemic affected, builders throughout our area faced major roadblocks in our standard everyday practices and procedures. As builders who specialize in custom homes along the Delaware beaches, my team and I faced an incredible increase in demand for secondary homes as people wanted to get away from larger cities, but still spend time in their own homes along the coastline.

As national demand for new construction and home improvements surged, our own area’s inventory became sparse, driving home prices even higher. Recent high interest rates have slightly damped this demand; however, we are still very busy building at the beach. Overall building and construction material and labor prices have increased drastically since 32

2019, and although prices have stabilized, they have not come down to pre-pandemic levels. All of this has also disrupted our industry’s supply chains, which are just now becoming more balanced. We are still seeing delays with certain home products, but for the most part, logistically, it’s close to pre-pandemic timelines.

Strong Foundations Building oceanfront and beachfront homes requires strict protocols to properly reinforce a build to withstand nature’s elements. It all starts with the foundation, so we typically build strong concrete foundations and go up from there with a steel framed structure. One of our main priorities is incorporating steel into every build to withstand high winds and heavy driving rain. And when building close to the water, we abide by November/December 2023

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rigorous regulations to comply with strict flooding and flood zones.

We respect the ocean and the forces of nature, so sustainability has always been a part of our process. We use nationally- and locally-sourced, environmentally-friendly products that thankfully have become much more available over the years. For efficiency purposes, we recommend highefficiency and high SEER heat pumps, geothermal tankless water heaters, solar panels, and windows and doors with good R-values. With an abundance of insulation options, it’s become standard practice to ensure our homes are as energy efficient as possible.

It makes sense, especially at the beach, to have spaces for gathering and entertaining outside: an outdoor kitchen, custom firepit or fireplace, and areas to gather and admire beach and oceanfront views.

One trend we know has a notable history: wallpaper, which we are actually incorporating into many of our designs. So for now, wallpaper is definitely “in.”

Overall, I do believe the state of building in Delaware will only continue to grow. Our state has so much to offer, which translates into many compelling reasons to build a home here. I love being creative with our builds, whether they are ocean, bay, or canal front homes. I’m very grateful to do this for a living and have an amazing team behind me. I, and the entire team at Marnie Custom Homes, look forward to building along the beaches in Delaware for a very long time. n

Marnie Oursler is president of Marnie Custom Homes and was named 2022 Custom Home Builder of the Year by the National Association of Home Builders.

Innovations Most of our process is now completely paperless. While we still have a set of blueprints at each of our builds and in our office, most everything we do is on our computers, iPads, and phones. We communicate with clients, vendors, and each other through various industry software platforms, which is a more efficient process overall and eliminates the need for paper copies.

A few building and innovation trends we continue to incorporate— and receive requests for—include Luxury Vinyl Tile or Plank (LVT or LVP), especially at the beach. Manufacturers have made big strides with this type of product; LVT or LVP now comes in longer lengths and is looking more and more like real wood. It›s very durable and less expensive than hardwood, which makes it attractive for beach homes with heavy traffic areas, sand, and younger guests.

Porcelain countertops and large-format porcelain tile are additional trends we continue to see and believe are here to stay. The benefit of porcelain is how authentic it looks; it resembles marble remarkably well. For countertops, porcelain is available in large sheets and mitered edges—and all of the seams are now almost completely unnoticeable.

It’s also very easy to clean and will not stain. Large-format porcelain tiles are beautiful and less expensive than marble, offering a more consistent pattern and are much easier to source. Porcelain can also be used outside, which is ideal for life at the beach.

Homeownership is within your reach Apply today: www.habitatncc.org/our-programs/homeownership/

Special Requests Overall, the most popular spaces we design are outdoor living areas.

We built a lot of outdoor living rooms and outdoor kitchens prior to the pandemic; however, these requests really took off over the past few years.

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Construction & Real Estate

We Are All Connected to the Housing Crisis

BY LAUREN WEAVER

COASTAL BUSINESSES come in all different shapes, sizes, and needs. However, one common thread binds them: affordable, seasonal housing.

And although many may think of the seasonal housing issue and its impact on their favorite ice cream shoppe, lifeguard, restaurant, or summer sundries store, the scope is much more comprehensive.

It includes medical staff, first responders, grocery stores, maintenance, cleaners, landscapers, the list goes on.

A coastal town whose yearround population of 1,000 balloons to over 40,000 on any given summer weekend places a serious strain on the small business community. How can business keep up with the basic supply and demand, especially when it comes to personnel? Many of the staff in January need to double or even quadruple for July. Whether it is businesses that go from a staff of four in January to 25 in July, or 300 to 750, the question remains: where can they live?

With Labor Day barely in the rear-view mirror, many business owners who are piecing together remnants of summer staff are already forced to think about staffing preparations for next summer.

Some fortunate small businesses have tried to acquire their own housing to avoid the annual headache, making the investment to subsidize housing so that it’s affordable for their employees.

Hoteliers and rental companies give up rooms and homes to staff.

Some larger businesses have been able to create positions dedicated to assisting with finding housing. Others have partnered with residents or churches to find affordable rooms in homes to offer the incoming workforce. There have also been programs created at state and county levels for assistance.

Even with resourcefulness, the affordable, seasonal housing 34

conversation feels insurmountable. Personnel costs are at an all-time high.

Hours of operations are cut to protect existing staff. Affordable housing solutions aren’t on the market. Platforms such as Airbnb and VRBO have changed the once affordable and available landscape. The college and high school workforce begin leaving before the end of their time needed. Exchange visitors through Bridge USA Program (J-1 Visa) are experiencing a longer paperwork process as housing needs to be secured months in advance. Little to no public transportation is available to commute workers from potential affordable housing solutions to where they are needed.

Enter: municipal ordinances limiting who can rent and the number of renters, banning external dwellings, and homeowner associations restricting short-term rental; and dissenting voters on affordable multi-unit solutions as they are presented without an alternative solution to the needs of the local business community.

The communities who demand and need services are collaboratively coming together to attempt to find creative solutions. It can no longer fall on the shoulders of the business owner alone. The problem has become too nuanced. The workforce housing conversation doesn’t end with Labor Day in any coastal community anymore. And every consumer of beach days, groceries, medical services, and recreational activities needs to come willing to see how everything is connected. n

Lauren Weaver is the executive director of the Bethany-Fenwick Chamber of Commerce.

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POWERING WHAT’S IMPORTANT.

From hospitals to homes and everything in between, Nickle keeps the power on.

INDUSTRIAL | COMMERCIAL RESIDENTIAL W IR ING A ND INS TA L L AT IONS SER V ICE C A L L S EMERGENC Y GENER AT OR S NIC K L E E L E C T R IC A L .C OM NE WA R K : 302- 45 3- 4000 GE OR GE T O W N: 302-856-1 006 DELAWARE BUSINESS

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Construction & Real Estate

An example of one of JLAM’s rental communities, the Oaks at Georgetown in Georgetown.

Embrace Variety

Creativity with future housing developments is required to solve the housing shortage BY DOUG MOTLEY CURRENTLY, Delaware has an 18,000-20,000-housing unit shortage while the United States faces a 3-7 million deficiency, depending on what source you read. The issue is compounded by continued growth in the U.S. population while also more and more people are falling in love with, and moving to, the charming First State.

To address the pressing issue of the housing shortage, I believe it is crucial to consider and take action to influence both the supply side and demand side of the equation. One of the best aspects of the state is the ability for people to connect to make change happen—and we must in order to compete with other states and to take care of our residents. Here are a few of the key levers we can address to make an impact:

HOUSING VARIETY Delaware’s housing stock (particularly excluding Wilmington) primarily consists of single-family detached homes. While these homes meet the needs of many, there are large segments of the population that prefer—or require—a different type of housing. This preference could be driven 36

by accessibility, affordability, location, family size, services needed, or other factors. Encouraging and enabling the creation of a wider variety of housing types, including traditional apartments, cottages, attached townhomes/duplexes, garage apartments, and other ancillary dwellings would provide a broader set of options and price points for Delawareans to choose from while consuming less space.

ENABLING LEGISLATION AND ZONING There are multiple reasons why we don’t have more of these housing options today, but a significant one is the applicable land use code in each jurisdiction. If the existing zoning allows for lower density single family homes, a zoning change would be required to enable building these other housing types. Most developers will avoid the time and risk associated with a potential rezoning. Local elected officials that vote on these rezoning requests are often faced with a vocal minority opposing increased density (also known as the Not In My Back Yard, or NIMBY, pressures). Ironically, opposing density results in more sprawl, more of the same housing, and November/December 2023

| DELAWARE BUSINESS

further taxes public infrastructure. Ultimately, we need leadership who recognizes the benefits that more housing options can provide and are willing to find policy solutions to encourage more of it.

EMPLOYMENT GROWTH AND EDUCATION There is also the opportunity to impact housing needs and affordability by increasing employment opportunities for Delawareans.

By ensuring our state policies are businessfriendly, we’re able to attract a diverse set of employers to the state who we can bring higher paying job opportunities to our residents. It is also important to provide workforce education opportunities, both to help people transition to new, higher paying positions or careers and to have a qualified workforce that attracts even more employers. Improving the employment opportunities available, including the ability to earn higher paying jobs, will help change the affordability side of the housing equation by way of impacting incomes.

At JLAM, we have invested in and developed housing in the seasonal, workforce, market rate, and seniors housing categories. We designed investment strategies that seek to provide more housing options. In every

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JLAM has multiple build-for-rent townhome projects under development.

project we develop, we strive to incorporate new and creative solutions. Our current pipeline includes market-rate apartments, workforce housing, cottages, and multiple build-for-rent townhome communities.

There are significant challenges developers face when trying to create more housing options to meet market demand, but JLAM’s ability to take the long view in how our projects will help make Delaware a better place to live, work, and play has enabled us to deliver countless successful projects. n

Doug Motley is the co-managing principal at JLAM (Jack Lingo Asset Management) and chair of the State of Delaware Council on Housing.

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Construction & Real Estate

How to Build a Thriving Small City

BPG’s approach to residential housing in Wilmington

BY CHRISTINE SCHONTUBE

BUCCINI POLLIN GROUP INC. (BPG) has been a prominent figure in the Wilmington real estate market for the past three decades. Along with ResideBPG, the affiliate residential leasing and management company, BPG has developed nearly 2,600 residential units and brought over 5,000 residents to the City of Wilmington.

Prior to BPG’s development in the city, the Central Business District (CBD) was home to approximately 130 residents. Recognizing the need for more residents and more diversified housing, the developers saw a vision for Wilmington to be a place where people can live where they work.

With an overflow of vacant land, abandoned and condemned buildings, along with the inability to annex land to grow like other municipalities in 38

the state, BPG got to work. In a continued effort to develop within the city, the company has worked to repurpose blighted and underutilized properties to provide new housing types, grow the resident base, create jobs, and increase the tax revenue stream to the city.

Since the turn of the century, BPG’s focus has been to provide upscale yet affordable rental homes to rival surrounding cities and attract top talent for our state’s workforce. Starting in 1999, BPG developed their first residential community—fully-furnished, extended stay apartments catered to the workforce. BPG then renovated the vacant and historic Delaware Trust Building located in the heart of the CBD into market rate apartments.

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Bayhealth Total Care Milton, DE

In the following years, BPG established the first residential developments along the Christina River as part the Riverfront Wilmington revitalization, which underwent extensive brownfield remediation to create townhomes, condos, and apartment units that attracted residents to the city who preferred the green space. In time, focus shifted back onto Market Street with the renovation of vacant historic buildings along Market Street, including an affordable apartment community at the prime intersection of Ninth and Market Streets. Development has continued across both new construction and office-to-residential conversion projects.

Prior to 2015, 95% of residents in BPG’s portfolio moved to Wilmington for their jobs. Presently, only about 65% are from out of town, though the population is steadily increasing due to people choosing to stay in Wilmington. In the wake of the pandemic, Wilmington saw an influx of residents moving to the area from densely populated neighboring cities.

As more people look to move to Wilmington, BPG recognizes the need to not only deliver upscale living accommodations but also the lifestyle options necessary to attract and retain residents. BPG is responsible for owning and operating Makers Alley, Wilma’s, DE.CO Food Hall, The Queen Theater, and The Chase Fieldhouse. Other investments include the critically acclaimed Bardea, Penn Cinema, The Quoin Hotel, and Constitution Yards Beer Garden.

Today, BPG consistently delivers on average 250 apartment units per year in Wilmington to not only accommodate those moving to the city for their jobs but also local residents who are intrigued by the new lifestyle Wilmington offers. What began as extended-stay housing for business travelers nearly 30 years ago has grown into a thriving residential community where people may come for jobs but stay to call Wilmington home. n

WohlsenConstruction.com 901 Market Tower Wilmington, DE

Christine Schontube is senior vice president of residential operations for Buccini Pollin Group.

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41

Innovation & Technology

The Next Era of Exploration is Here

Meet the pioneers of space exploration and tourism, ILC Dover

BY ROB REED

FOR DELAWAREANS, Frederica’s ILC Dover is known as “the spacesuit company” … but in the space industry, the Company is a beacon of innovation and technology leadership.

Based in Delaware for more than 75 years, ILC Dover has upheld our commitment to innovation since the Apollo era and continues to be a driving force in the realm of space technology. This commitment has taken our softgoods solutions to unparalleled levels of strength and durability and forged a legacy representing decades of tireless innovation that is woven into the very fabric of ILC Dover’s softgoods.

Space exploration has evolved into a thriving commercial industry, significantly increasing the funding and pace of innovation in this aerospace sector. As the industry evolves, ILC Dover adapts our structures to meet seemingly impossible demands. We continue to work with NASA on extravehicular activity (EVA) spacesuits, having been tapped to replace 42

the International Space Station (ISS) spacesuit. Our innovation extends to the groundbreaking Radome technology used for radar and surveillance, spacecraft landing airbags, and more.

The Space & Engineered Solutions Division of ILC Dover is dedicated to advancing life in low-Earth orbit (LEO) while driving critical work with groundbreaking innovations—one of which is the development of space habitats. These inflatable, cost-efficient environmental systems are engineered to be lightweight, safe, and expand to three times their packable volume when deployed in LEO. Habitats will enable business, research, and tourism opportunities in LEO and on lunar and planetary surfaces—ushering a new way of living and working in space. They will be utilized on projects like Orbital Reef, Blue Origin, and Sierra Space’s commercial LEO space station, set to be operational by the end of the decade.

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Division of ILC Dover, many of whom reside in Delaware’s three counties.

Our investments, including over $6 million in improvements to the Delaware site in 2023, not only benefit our expanding Division, but also contribute to the local economy, fostering a prosperous future for Delawareans.

We are actively seeking dedicated, collaborative candidates to fill various technical roles, including STEM professionals, safety personnel, sewing operators specializing in spacesuit creation, materials engineers with backgrounds in chemistry and textiles, and systems engineers to adapt our offerings to meet customer requirements.

Frederica, Delaware stands at the heart of excellence in Space & Engineered Solutions at ILC Dover. Our ongoing commitment to innovation and technology continues to shape the future of space exploration. We are the next generation of pioneers, forging new frontiers in space technology, and it’s all happening right here in Delaware. n

Rob Reed is the president of space and engineered solutions at ILC Dover. For job opportunities, visit ilcdover.com/careers.

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Innovation & Technology

Delaware is a Tech Hub How the Tech Council of Delaware is convening leaders to do the work BY ZAKIYYAH ALI

THE LAUNCH of the Tech Council of Delaware in March 2023 came with the creation of six membership types, aligned to each aspect of the tech workforce system, and three new tech ecosystem committees.

The tech ecosystem committees were formed to provide a framework for Council members to play an active role in advancing workforce initiatives, driving innovation, creating a strong tech ecosystem, and increasing Delaware’s position and perception as a tech hub.

While the Council offers many interesting and valuable member benefits, the Council, via its committees, is structured to foster active member participation and engagement in solutions-focused initiatives.

Corporate members joined the Tech Leaders Roundtable committee to discuss industry trends, new and emerging technologies, talent needs, and workforce challenges, as well as craft solutions to common issues.

Education and workforce providers joined the Tech Talent & Workforce Committee, which is a Community of Practice designed to improve workforce development outcomes, build inclusive tech talent pipelines, and produce graduates with in-demand skills and credentials who have options for attaining high-wage tech employment. Community organizations participate on the Tech Community Partners Collaborative, which is intended to identify and support career-focused residents—particularly those that are underrepresented in tech—with qualifying for, and applying to, workforce programs and becoming job-ready.

The three tech ecosystem committees have met over the course of several months to advance their respective goals. Having hit a stride with their individual committee efforts, members were ready to engage as a full Council to share information, learn from each other, and collaborate to advance goals together. To facilitate this collective engagement, the Council hosted a half-day Tech Ecosystem Conference on October 26, 2023, for members to strategize ways to strengthen workforce partnerships; leverage the new sectoral partnership (First State Tech Partnership) to collectively build inclusive tech talent pipelines; identify ways to support tech start-ups led by underrepresented founders; and clarify Delaware’s tech identity and the story we want to tell as a tech hub.

Council members recognize that it is not enough to simply say we are a tech hub; we as leaders must continuously do the work to make Delaware a tech hub. Knowing that we cannot do this work alone, the Council invited organizations that are leading initiatives in innovation, life sciences, small business, and economic development spaces to participate in the Tech Ecosystem Conference as key stakeholders.

Since the Tech Council of Delaware functions primarily as a workforce 44

intermediary, our role is to ensure that there is a skilled workforce available to fill open positions with employers, which ultimately drives economic growth and mobility for residents and businesses alike. Having a skilled and talented workforce leads to innovation, allows businesses and communities to thrive, and is an attractive feature to companies and senior-level tech professionals who are considering relocating to Delaware.

The First State may be small, but we can compete with other nationally recognized tech hubs if we stay united, collaborate, and work together to make Delaware a tech hub. n

Zakiyyah Ali is the executive director of the Tech Council of Delaware.

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Innovation & Technology

Delaware’s Entrepreneurial Mindset

Positioning the First State for innovation and economic growth

BY SARAH MAILLOUX SATTERFIELD AND NOAH OLSEN

WITH AN INTEGRATED, educated, and resilient community of entrepreneurs and dreamers focusing on growth and innovation, it’s no surprise that Delaware is one of WalletHub’s 10 Most Innovative States. Delaware’s business ecosystem shares the belief that connections take us all farther together and actively works to build a statewide culture of innovation. This collective entrepreneurial mindset is a key factor in Delaware’s status as an increasingly attractive destination for startups and other businesses looking to launch or expand their operations.

With a population of just over a million, Delaware’s small size enables the kinds of connections that facilitate access—to leaders, to customers, and to talent. Delaware’s public and private sector leaders are accessible, engaged and, as Adesis founder Andrew Cottone says, “move at the speed of the entrepreneur.” The state’s commutable location between the political arena of Washington, D.C., and the commerce capital of New York extends such access and sits at the center of the largest U.S. consumer market—with more than 50 million people within 250 miles.

Contributing to Delaware’s deep STEM talent pool are the University of Delaware, whose undergraduate chemical engineering program is ranked fifth nationwide by U.S. News & World Report, and Delaware State University, which is recognized among U.S. News & World Report’s Most Innovative Schools. Delaware’s location also allows residents of adjacent Pennsylvania, New Jersey, and Maryland to deepen that pool further with a convenient commute.

More than 98% of businesses in Delaware are small businesses, and Delaware boasts a strong network of partner organizations that offer training, technical assistance, funding opportunities and other support to help increase skill sets, business savvy and resources among its innovators and entrepreneurs. For example, the Delaware Small Business Development Center (SBDC), Delaware Prosperity Partnership, and the Delaware Division of Small Business provide no-cost, end-to-end services while showcasing the opportunities Delaware offers to launching or relocating businesses. The Delaware Sustainable Chemistry Association and the Delaware BioScience Association promote industry initiatives and create communities where businesses learn from their peers.

Versogen and Compact Membrane Systems are two scientific technology 46

companies whose growth have been facilitated by their launch and location in Delaware. Contributing to their success have been state government’s support of innovation, the strong community of Delaware companies and individuals in their field, and the entrepreneurial mindset for which Delaware is known.

Since its start at the University of Delaware in 2012, Versogen has worked with the Delaware SBDC and taken advantage of UD’s Horn Entrepreneurship programming; relocated to the Delaware Innovation Space incubator; earned more than $5 million in grants from programs like the BIRD Project and the Shell GameChanger Accelerator; and raised $14.5 million in Series A funding. In 2022, the green energy startup targeting deep decarbonization announced a $4.8 million expansion— supported by Delaware Strategic Fund grants—that includes moving operations to larger, upgraded facilities at FMC Stine Research Center.

“Versogen,” says co-founder Yushan Yan, “has been strongly supported by the State of Delaware directly or indirectly from its inception.”

Compact Membrane Systems (CMS) specializes in the research and development of fluoropolymer membranes and thin films. Founded in 1993 by Stuart Nemser as spinout research from DuPont, the company currently offers products such as nitrogen-enriched air, oxygen-enriched air, and VOC-air separation. Since 2015, CMS has consulted the Delaware SBDC for advice and tapped into other Delaware small business resources.

Earlier this year, CMS raised $16.5 million in Series A funding.

“Delaware is the best place on Earth to start a chemtech company,” says CMS CEO Erica Nemser. “I’m not sure we’d get the same attention somewhere else.” n Sarah Mailloux Satterfield is associate state director of the Delaware Small Business Development Center. Noah Olsen is director of innovation at the Delaware Prosperity Partnership.

November/December 2023

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Local expertise, Local decision making.

Put Chase to work for you.

With over 10,000 local employees and seven branches, Chase is committed to helping small and mid-sized businesses across Delaware achieve their goals.

For insights that will help take your business to the next level, visit chase.com/business and jpmorgan.com/commercial-banking.

Mark Brindle, Vice President Commercial Banking (302) 282-1209 mark.j.brindle@chase.com © 2023 JPMorgan Chase & Co.

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Banking

Generative AI Understanding the rewards (and risks) for businesses

BY AVI PATEL

Prompt: Write a 500-word article about how businesses, especially banks, are using artificial intelligence (AI).

Response: This article wasn’t written by AI, but it probably could have been.

NO DOUBT YOU’VE HEARD ABOUT the excitement around generative AI, which can be given a prompt and develop new content, which could be text or visual presentations, from existing information.

There’s a lot to be excited about. Who wouldn’t want to take advantage of technology that can summarize a 20-page document into a few paragraphs? Think of the time savings!

AI covers a range of technology that has been used for years for machine learning and predictive modeling. Now, the attention is focused on generative AI, which has the potential to take this industry to a new level by directly generating content to improve internal operations and the customer experience.

Generative AI using large language models can be applied to a wide range of initiatives: • Summarization, such as taking the transcript of a recorded meeting and developing a concise synopsis • Classification, including conducting sentiment analysis of thousands of individual survey comments • Content generation, such as basic marketing content and articles • Chatbot functions, which leverage a question-and-answer format to draw information from a company’s knowledge base • Translation to different languages • Data analysis to answer specific queries based on large data files The possibilities can seem endless, and they need to be balanced against what’s appropriate for a business, especially in a highly regulated industry 48

like financial services. For instance, customer data should never be input into a generative AI platform, as that information should remain private and under the control of the company.

Other uses of generative AI are fair game. For instance, generative AI can be used for research projects that involve reviewing publicly available reports. AI can expedite and accelerate this process, distilling large volumes of information from multiple sources into a more concise summary that includes the key information. For a community bank, generative AI can be used to read through customer commentary and distill it down to a few key messages for bank leaders to review and act on.

Like all technology, there are some drawbacks. With generative AI, one area to be cautious of is “hallucinations,” which is when the tool provides information that may be false or misleading.

Some AI tools are designed to answer your prompt or question, no matter what, even if it doesn’t have sufficient data for a factually sound response.

As you explore using generative AI, be sure to consider all aspects of how it could impact your business, including not just technology but also legal, compliance, risk management, and how it might be perceived by your employees.

It’s also critical to understand the data protection and security aspects of any AI tool, as well as whether any files or data you provide may be incorporated and used to help “train” the AI platform.

The use of generative AI to enhance internal business operations and customer experience is just beginning, and as with all new technologies it’s important to let the overall business strategy drive adoption and implementation of artificial intelligence. n

Avi Patel is chief data scientist and chief marketing officer at Fulton Bank.

November/December 2023

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Banking

Investing Where We Live and Work

Barclays’ Community Reinvestment Act initiatives receive “Outstanding” performance rating by the FDIC CONTRIBUTED BY BARCLAYS

AS WE LOOK BACK over the past four years, our nation has evolved in many ways. From the challenges we all faced through the pandemic, to what many viewed as a turbulent road to recovery, one thing has not changed: Barclays’ commitment to the state of Delaware and the people who live and work in the First State.

Of the many contributions to the state that we’re most proud is the difference we are making through our Community Reinvestment Act (CRA) initiatives.

Barclays’ CRA activities allow us to have a meaningful impact on the communities in which we live and work. We focus on the areas that best use our expertise as a financial services organization, with Barclays colleagues playing an active role in helping to support our communities. Through these efforts, we focus on affordable housing and workforce development; provide financing for community and economic development; and support financial education, diversity and equality, and healthy food access.

Central to Barclays’ strategy is the belief that a strong, inclusive economy means a better economy for everyone. A diverse and skilled workforce helps businesses thrive and gives individuals, families, and communities the opportunity to achieve financial independence and security. Our CRA initiatives break down barriers for employers, job seekers, and employees looking to move up; all while building a stronger and more vibrant economy for Delaware.

FDIC: OUTSTANDING RATING Following a 2023 review of Barclays’ CRA initiatives, the Federal Deposit Insurance Corporation (FDIC) provided Barclays with an “Outstanding” performance rating—the highest rating that a bank can receive. This is the third consecutive review by the FDIC in which Barclays received such a rating, and it is a testament to the bank’s commitment to supporting our communities through CRA activities.

2023 HIGHLIGHTS OF BARCLAYS CRA ACTIVITIES Solomon Hess SBA Loan Fund: Barclays committed $2 million to the Solomon Hess SBA Loan Fund for the acquisition of community development loans where the underlying small business borrower is 50

minority-owned and located in a low or moderate income or otherwise economically distressed census tract.

HBCU Week Scholarship Fund: Barclays is contributing $300,000 that will support the HBCU Week Foundation and endow four-year college scholarships of $15,000 over the next four years to five historically black colleges and universities (HBCUs): Delaware State University, Hampton University, Spelman College, Morehouse College, and Howard University.

Photo by Fifth Media Investment in United Way of Delaware Minority Small Business Fund (MSB): This will be our third year funding this program. Since 2021, Barclays has invested over $2.3 million in the MSB Fund with a goal to support 100-plus local minority-owned and operated businesses.

EastSide Charter School Stem Hub: Barclays is reinforcing its commitment to EastSide Charter School with a $1 million donation over 2021-24 to support the growth of EastSide’s mentoring program to serve more students, provide for the expansion of the school, and assist in the construction of its new state-of-the-art STEM Hub. In the 24 years since we opened the doors to our Wilmington headquarters, Barclays has grown to become the fifth largest co-branded credit card issuer in the United States. Along with this tremendous growth, we have worked tirelessly to support businesses and neighborhoods throughout the First State, and we are committed to continuing our support for the communities where we live and work. n November/December 2023

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Barclays proudly supports We Are Delaware: DCRAC/Stepping Stones Building Prosperity and their work driving change in our communities Through Partnership “We believe in supporting community partners that help create a stronger and more prepared workforce while also providing resources that create opportunities for those who live and work in Delaware.”

– DENNY NEALON, CEO BARCLAYS US CONSUMER BANK

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Banking

Raising the Bar on Tech in Delaware

BY MARK HUTTON

IF THE CUSTOMER is indeed always right, then businesses can’t go wrong with customer service. And any conversation about customer service must include questions around how businesses can use technology to improve the customer experience.

So how are you using technology to make your business more efficient?

What digital capabilities are you offering to help your customer do business with you?

How about this one: What are you doing to support the growth and development of the local technology ecosystem that will fuel your business for years to come?

If we want Delaware’s economy to thrive and its business community to grow, that’s a question all of us need to be asking ourselves. It is up to all of us to take ownership of the things we can do today to create better outcomes for Delaware’s technology community in the future.

Think of it this way: Every company is a tech company these days. You can’t survive without it. The more we invest in technology in Delaware, the more we all will benefit.

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But it’s not so simple. There’s a shortage of techrelated workers in our state right now—and signs don’t point to that changing quickly or drastically.

Tech-related jobs didn’t make the Hiring Reform Project’s list of 20 fastest-growing careers in Delaware through 2030. The state also didn’t make Indeed’s 2022 list of the 10 best states for IT work— but neighboring Pennsylvania, New Jersey and Virginia did.

Delaware’s average yearly salary in IT is lower than those of Virginia, Maryland and New Jersey, while tech employment per 1,000 jobs in Delaware also is below the mark of Virginia or Maryland.

All this adds up to a perception—at least outside our state—that Delaware isn’t a breeding ground for tech jobs or development. Together, we have to change that perception and create a new reality that Delaware is in fact a state that fosters innovation with a tech workforce that is second to none.

How do we do it? Here are a few ideas.

Identify talent early. Find students—middle school, high school and college students—with the interest and aptitude for tech. The Tech November/December 2023

| DELAWARE BUSINESS

Council of Delaware’s Yes, We Tech! program is a great, new example. The seven-week paid summer internship program is designed for rising high school juniors and seniors and gives them on-the-job training working 30 hours a week for some of the Council’s members. Its inaugural cohort graduated this past August.

Create partnerships with the state’s colleges, universities, and organizations focused on tech development. Reach out to the Tech Council’s new Tech Talent & Workforce Committee, which includes representatives from Wilmington University, Delaware College of Art and Design, Delaware Technical Community College, Goldey-Beacom College, Code Differently, Tech Impact, Year Up, and Zip Code Wilmington. These organizations are leading from the front and have a vested interest in our collective success.

Hire local talent. Retaining our top talent is an important way to change the perception about Delaware’s tech ecosystem. Invest in local talent, and those employees will become our state’s best advocates. Over the past few years, M&T Bank has hired several students from Zip Code Wilmington who are doing very important work for us at our Tech Hub right here in Wilmington.

Engage our elected leaders. It’s going to take more than paid internships and sign-on bonuses to create the environment we need. It’s going to take legislative efforts and support to make Delaware a more attractive place for tech companies to do business and trained tech workers to relocate.

As we know, these changes won’t happen without the involvement of Delaware’s business community. It’s going to take a village to help make the changes needed to overcome the challenges Delaware faces in developing a more robust tech ecosystem. I encourage all of us to take ownership of our future success by making technology a priority today. n

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Banking

The Right Balance in AI Governance

Perspectives from the financial services industry

BY STEPHANIE WAKE

FEW TECHNOLOGIES IN RECENT HISTORY have been hyped as much as ChatGPT and other generative artificial intelligence (AI) applications—perhaps only the internet. With this hype comes justified interest from policymakers who feel the need to get a handle on this technology without inhibiting its positive potential.

Generative AI undoubtedly will be a disruptive technology with the potential to change businesses and industries of all sizes and across sectors. As with all rapidly evolving technologies, risks and challenges may likely emerge alongside the promising new innovation.

BANKS USE OF AI While definitions vary, AI is an umbrella term for techniques that enable computers to mimic human intelligence. AI systems, which include machine learning (ML) techniques, have traditionally been used to analyze data and make predictions.

In the financial sector, banks have been using AI and ML techniques for years to drive better client experience, enhance operational efficiencies, and manage risk. Far from an exhaustive list, a few core uses include: Fraud Detection and Prevention: Banks use AI-driven pattern prediction techniques to find anomalies in transactions and identify fraudulent activity before it impacts customers.

Customer Service: Banks currently use AI-driven chatbots to provide customers with more and faster support without having to escalate to human operators. Additional tools can present customers with useful products or services and create more personalized digital interfaces based on their individual profile.

Cybersecurity: The financial services sector is a primary target for cybersecurity attacks. AI models can be used to detect and respond to cyber attacks more quickly and efficiently than human intelligence alone.

Anti-Money Laundering: AI models have the potential to improve detection of suspicious activity as they can understand complex patterns in data, resulting in detection of unusual activity and reduction in false positives.

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With recent advancements in generative AI, a new type of AI, which differs from traditional AI in that it enables machines to create new content, banks are looking to leverage this technology in a variety of ways. For example, banks are evaluating how generative AI may help software developers write code or to facilitate information retrieval to parse information and summarize insights much faster from multiple sources.

Banks responsibly deploy AI for these cases only after rigorous model risk management procedures and within an appropriate control framework to ensure the appropriate development, use, validation, and governance of AI/ML models and against a backdrop of extensive laws and regulations, such as fair lending or data privacy laws.

LOOKING AHEAD Some policymakers are considering implementing new AI-specific laws and regulations—this has accelerated with the advancement of generative AI and more public awareness. The direction and scope of AI policy should emerge as the product of a deliberate and transparent process with broad stakeholder input.

Businesses currently using or likely to integrate this rapidly innovating technology will want to closely monitor and look for opportunities to engage in the dialogue around the topic to support a balanced, risk-based approach that fosters, rather than stifles, innovation. n

Stephanie Wake is a senior vice president in Citi’s Office of the Chief Technology Officer, which is responsible for regulatory strategy and advocacy for emerging technologies.

November/December 2023

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Chamber Calendar WHAT’S NEXT?

NOVEMBER 15, 2023 Networking Breakfast at Biggs Museum of American Art

DECEMBER 13, 2023 Networking Breakfast at Whisman Giordano & Associates

Join us at the Biggs Museum of American Art in Dover for a networking breakfast! Learn about their expansion plans for the next few years, which includes two historic buildings donated by the State of Delaware.

Celebrating 50 years of service in 2023, Whisman Giordano & Associates is one of the most respected public accounting firms in Delaware. Join us for a networking breakfast at their office in Newark to celebrate their anniversary!

FREE for members

FREE for members

DECEMBER 5, 2023

13th Annual Taste of Delaware Join our honorary host US Senator Christopher Coons for the Thirteenth Annual Taste of Delaware — a crowd favorite event held in the nation’s capital showcasing the finest culinary traditions from the First State.

FREE to attend

JANUARY 29, 2024 187th Annual Dinner

When you think of the Delaware State Chamber, think of

#NETWORKING

The Annual Dinner is Delaware’s premier business event. With more than 1,100 business, community, and government leaders, the Annual Dinner has always been the place to be for high-level networking.

Fill up your calendar by visiting our events page online at

We are pleased to announce Hervé Hoppenot, Chairman and Chief Executive Officer of Incyte, as this year’s keynote speaker.

web.

Early Bird Rates End 12/1/23: Admission: $275 $300 Members | $350 $375 Future Members Tables of 10: $2,750 $3,000 Members | $3,500 $3,750 Future Members DELAWARE BUSINESS

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Newsbites Buccini/Pollin Group Appoints Chief Operating Officer

Wilmington-based developer the Buccini/Pollin Group (BPG) welcomed Ann Shepard Visalli to the position of chief operating officer. Visalli joins BPG with over 30 years of experience in budget, finance, and economic development. She had a successful 22-year career in Delaware state government, which included serving as the director of the Office of Management and Budget under former Governor Jack Markell. Most recently, Visalli served as the chief operating officer for St. Andrew’s School in Middletown, Delaware.

Ann Shepard Visalli Although most known for its real estate investments, BPG is also a multifaceted operating company with various businesses in food and beverage, sports and entertainment, retail and parking, and commercial and residential property management.

As chief operating officer, Visalli will be responsible for the oversight of financial operations for all BPG operating entities including budgeting and forecasting, long term financial planning, and strategy. She will also directly supervise human resources, information technology, risk management, marketing and, in conjunction with asset management, and commercial and residential operations and leasing.

“Ann’s extensive experience as a strong, compassionate leader and her financial acumen will be critical in supporting BPG’s strategic growth. She will play an integral role in continuing to build a strong company culture across all divisions at BPG.” said Chris Buccini, co-president of the Buccini/Pollin Group.

Food Bank of Delaware Receives Grant The Food Bank of Delaware received a $20,000 grant from ACME Foundation’s Nourishing Neighbors Program. The grant was provided as part of the company’s O Organics “Fight Hunger, Serve Hope” cause program to combat hunger during the summer months when households with school-aged children face higher rates of food insecurity. According to Feeding America, during the summer months, as many as 22 million children lose access to the free or reduced meal programs they rely on during the school year.

For every customer purchase of the company’s private label O Organics

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product, the brand donated one meal to a child in need. The grant awarded to Food Bank of Delaware will enable the donation of 80,000 meals for local children through the weekend Backpack Program.

“We’re excited to partner with ACME to make sure children in our community have access to nutritious foods over the weekend,” said Food Bank of Delaware President and CEO Cathy Kanefsky.

“Together with ACME, we’ll continue to tackle the ongoing food insecurity issues in our community.”

The Food Bank’s Backpack Program provides food year-round to children in need for weekends and holidays when school is not in session and federal

school meal programs are not available.

Backpacks are stocked with kid-friendly, nutritious food including shelf-stable milk and juice, meals such as macaroni and cheese, spaghetti and meatballs and beef stew, granola bars, apple sauce, cereal and more.

Sussex Family YMCA Welcomes New Hire The YMCA of Delaware recently welcomed LoriKay Paden as community vice president and executive director of the Sussex Family YMCA. In her role, LoriKay will lead the Sussex Family Y located on Church Street in Rehoboth and will also provide leadership support to the Dover YMCA. “The opportunity to join this incredible team excites me to no end,” said Paden.

“To see the Y’s impact throughout the state is awe-inspiring. I’m grateful for the opportunity and can’t wait to help improve outcomes for our members and communities.”

Whisman Giordano & Associates Receives National Recognition Whisman Giordano and Associates, LLC (WGA) was ranked as one of the top 100 accounting firms to work for in the United States by Accounting Today Magazine. This is the second time in two years WGA has earned this recognition.

The firm moved up nine spots on the list between 2022 and 2023.

Lisa K. DeRose, chief operating officer, said, “We’re honored to win this award again because it’s a true reflection of the positive and caring environment we’ve created as a team. Our clients experience this firsthand because they can see and feel how we value them and their trust.

It’s the importance that we place on our relationships with clients and each other that makes all the difference.”

November/December 2023

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Navient Named a Best Place to Work for Caregivers Navient, a leader in technologyenabled education finance and business processing solutions, has been recognized for the second year as a Best Place to Work for Working Daughters, according to Working Daughter, a community for women balancing eldercare with their careers. The annual list recognizes companies that support family caregivers and raises awareness of how businesses help make caregiving and professional success compatible.

Working Daughter finds that more than one in six working Americans assist with the care of a family member, relative, or friend who is elderly or has a disability. Seventy percent of those caregivers suffer workrelated difficulties due to their dual roles.

“We’re proud of the employee benefits Navient offers to help relieve the unique pressures of working caregivers,” said Mike Smith, Navient’s chief human resources officer. “From dependent care assistance and employee resource groups to mental health and wellbeing programs, we’re doing our very best to ensure our team’s success and help each employee fulfill commitments to families of all kinds.”

PCOnline Chooses Newark for Strategic Spinoff Location

EtailFlow LLC, a supply chain management company created as a strategic spinoff from Delaware-based national ecommerce leader PCOnline earlier this year, will grow its operations alongside its parent company in Newark.

PCOnline leadership actively searched sites in Delaware and throughout the region for a new location to grow EtailFlow before selecting space adjacent to its 80-employee headquarters. The EtailFlow facility will add at least 45 jobs and feature a fulfillment center; a fully customized ERP system, including a smart warehouse; fulfillment of Seller-Fulfilled Prime orders; Fulfilled by Amazon preparation services; direct business-to-consumer orders; purchasing agent services; and return processing services.

“We’re pleased that EtailFlow LLC is expanding their operations and creating new jobs in Newark,” said Governor John Carney. “We remain committed to helping entrepreneurs start and grow their businesses here in Delaware. This decision reaffirms that Delaware is the ideal place for businesses to thrive.”

“At EtailFlow, our core mission is to redefine the supply chain industry while leaving a meaningful impact on our community,” said Charles Zhang, chief executive officer, EtailFlow. “We are dedicated to generating more employment prospects for our local community, ultimately infusing vitality in the Delaware economy.”

DEMEC Launches Joint Lineworker Training Yard The Delaware Municipal Electric Corporation (DEMEC) celebrated the groundbreaking of their Joint Lineworker Training Yard, which is designed to support workforce development and safety training for apprentice and journeyman lineworkers for DEMEC’s municipal member utilities. Phases are planned to include climbing, transformers, substations, bucket trucks, meters, and other trainings.

DEMEC’s training yard in Smyrna will be the only of one its kind in the state of

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Delaware, offering local, certified training for new and seasoned lineworkers at a 66% savings to member communities.

“As a joint action agency and notfor-profit, DEMEC is always looking for economies of scale opportunities to bring our members additional savings.

Safety and education are part of our organization’s core values, and lineworkers are the backbone of public power. We are pleased to support our members’ workforce, resilience, and reliability through a diverse training yard,” said Kimberly Schlichting, DEMEC president and CEO.

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Newsbites Beebe Center for Breast Health Opens in Rehoboth

Vance Kershner Honored with the Freedom Award

Trailblazer and champion for entrepreneurs, Vance Kershner—founder and CEO of LabWare—was recognized with the esteemed Pete du Pont Freedom Award in September.

Kershner’s introduction was delivered by his children, Katie and Kyle Kershner, who provided a touching glimpse into Vance’s journey as an entrepreneur. They recounted his early days working in his parents’ soft pretzel factory, his tenure at DuPont, and the launch of LabWare in 1987, which has since become a leading global software company in laboratory informatics. Kershner continues to serve as the president and CEO of LabWare, a company still headquartered in Wilmington, DE, with a sprawling international presence encompassing 40 offices across 6 continents.

In addition to his role at LabWare, Kershner wears many other hats. He is a general partner at Leading Edge Ventures, chairs the Advisory Council for UD’s College of Engineering, holds a significant stake in Scrub Island, and co-owns Buckleys Tavern, among numerous other endeavors.

“I am so honored to be your recipient of this Freedom Award, but also so humbled. The goals of the foundation to reinvent Delaware by fostering education, scientific innovation and entrepreneurship are truly special. And I make a promise that I will do whatever I can to help this mission to succeed and further Delaware for the benefit of everybody,” said Kershner.

Blue Blaze Associates Named to Philadelphia100® Blue Blaze Associates has been named for a second time to the Philadelphia100®, an annual list honoring the fastest-growing, privatelyheld companies in the tri-state area. The integrity of this merit-based selection process has made the Philadelphia100® one of the most sought-after awards in the region for the past 35 years.

“We’re privileged to stand with these other Delaware-based companies

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Beebe Healthcare opened the Beebe Center for Breast Health in October at its new location on the Rehoboth Health Campus. The site was previously a Walk-In Care Center but was remodeled and designed for patients.

“Throughout my career, I’ve learned that receiving care in a familiar, welcoming environment improves a patient’s experience during such a difficult journey. It is one less thing you have to worry about if all your services are in one place,” said Diana Dickson-Witmer, MD. “What Beebe and our team have done is special—we have built a destination for breast care in Sussex County that will deliver a superior patient experience.”

The Center is the only breast center in Delaware that is accredited by the National Accreditation Program for Breast Centers and was one of only six such programs selected from the 600 nationally to pilot new standards for the NAPBC, a testament to Beebe’s focus on quality and safety in addition to delivery of patient centered care.

Below: Diana Dickson-Witmer, MD, cuts the ribbon to celebrating the opening of the Beebe Center for Breast Health in its new home.

as representatives of our state’s economic vitality,” said Wendy Scott, chief strategy officer and co-owner of Blue Blaze.

“This recognition spotlights my team’s commitment over the last three years to strengthening our clients’ brands during a time where effective marketing and creative solutions are more crucial than ever.”

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| DELAWARE BUSINESS

Did you miss the Chamber Chatter online? Here are some posts about us on social media... @Delaware State Chamber of Commerce @DelawareStateChamber

@DEStateChamber

ICYMI IN CASE Y OU MISSED IT

@USWindInc: US Wind had a blast this week sponsoring and participating in the @DEStateChamber reception and Chamber Chase Golf Tournament in #RehobothBeach, #Delaware!

Heather Cox Codes: Thank you to everyone who came out to the Delaware Networking Station event and for visiting my booth! I met so many cool people and I cannot wait to announce the winners of the Social Media Audit and the 7 Customized AI Prompts! Stay Tuned! #heathercoxcodes #delaware #networking #socialmedia #network #netde #dns23 #delawarenetworkingstation #chasecenter Delaware State Chamber

Jessica Jordan MSM: “Dupont has a rich and storied history…”

How wonderful, as a native Delawarean to find myself now a part of this history.

Thank you to the Delaware State Chamber of Commerce for highlighting our efforts and to the Team at Pencader for ensuring that we keep to our Core Values, continuously improving to make the world a safer place.

Anastasia Jackson: Delaware State Chamber of Commerce evening mixer held at the Bellmoor Inn and Spa Rehoboth Beach Delaware.

Such a great turnout for an end of Summer business mixer. Everyone was able to get caught up on new projects and businesses coming to the area. #SussexCounty Delaware Division of Small Business

Brian Disabatino: I’m honored to be keynoting the Marvin Gillman Awards and hope you’ll join me. This year’s honorees are truly super. The @DEStateChamber does such a great job celebrating industry!

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#InvestingInInnovation #InventABetterNow #CoreValues #DelawareOnMars Ryan Holsten: A great event, The Delaware Networking Station, hosted by the Delaware State Chamber of Commerce. We were able to meet and speak with many local business owners, nonprofit organizations, and many others that make an impact in the Delaware Community. HR that makes a difference. Our full-service HR solution delivers.

Michael Skellie, Artis Rivers, Robert Skrypzak, Christopher Apelian #insperity

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CALL THE CHAMBER The State Chamber of Commerce staff works for you, serving our member companies and organizations statewide.

This State Chamber staff directory lists phone numbers and email addresses, as well as individual areas of responsibility.

If you need business assistance or information, please don’t hesitate to call.

Michael J. Quaranta President

Kelly Basile Vice President, Strategic Communications (302) 576-6564 kbasile@dscc.com

Melissa Brayman Office Administrator (302) 576-6572 mbrayman@dscc.com

Regina Donato Manager, Program & Communications (302) 576-6567 rdonato@dscc.com

Ken Evans Account Executive (302) 576-6576 kevans@dscc.com

Tyler Micik Director, Public Policy & Government Relations (302) 576-6590 tmicik@dscc.com

Fred Miller Advertising/Retention (302) 576-6579 fmiller2@dscc.com

Helana Rodriguez Director, The Partnership, Inc. (302) 576-6575 hrodriguez@dscc.com

Amanda Schimmel Manager, Marketing & Accounting (302) 576-6560 aschimmel@dscc.com

Matt Volk Digital Advertising Sales (302) 576-6571 mvolk@dscc.com

Kerri Welcher Events Manager (302) 576-6566 kwelcher@dscc.com

(302) 576-6585 mquaranta@dscc.com

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DELAWARE STATE CHAMBER OF COMMERCE

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1201 N. Orange Street, P.O. Box 671 Wilmington, DE 19899-0671 (302) 655-7221 www.dscc.com Facebook: DelawareStateChamber Twitter: DEStateChamber Linkedin: Delaware State Chamber of Commerce YouTube: DEStateChamber

The Delaware State Chamber of Commerce is dedicated to promoting an economic climate that strengthens the competitiveness of Delaware businesses and benefits citizens of the state. Founded in 1837 as the Wilmington Board of Trade, the Delaware State Chamber of Commerce has a long history as the largest, most influential business organization in the state. The State Chamber is uniquely positioned to bring parties together to solve problems, create jobs, promote business, and improve the quality of life for all Delawareans.

Sep t em b e r / Oc t o b er 2023 | DELAWARE BUSINESS

WHAT ARE YOUR SUPPLY CHAIN WEAKNESSES? Risk is everywhere. It doesn’t sleep. It often shows up uninvited and at the most inopportune time. Manufacturers most trusted resource, the NIST-Manufacturing Extension Partnership, provides a step-by-step roadmap to help manufacturers address risk, increase visibility and create supply chains that function at optimum capacity.

We’ll show you how to apply constraint theory concepts that address risk, and account for total cost of ownership, so you may make informed sourcing decisions that increase the flow of products from suppliers to customers, using a value system model.

To learn more about Supply Chain Optimization, visit www.demep.org or call 302.283.3131.

LOOK BEFORE YOU LEAVE Get permitted and stop the spread

Transporting spotted ter c e d to e i e t tio herever our bu i e tr ve .

To learn more about business permitting requirements, visit de.gov/hitchhikerbug