March 3, 2026 | Vol. 13 • No. 5 | $4.00 | DelawareBusinessTimes.com
POWERING A
new era
Manufacturing relies on energy. Could low supply and high demand limit growth? 10-11
SHOCKING SALE:
MASK ON?:
FINAL STRETCH:
Incyte to sell Bracebridge buildings
Economist says AI is hiding recession signs
Freeman Arts Pavilion reaches $33M in campaign
5
6
9
WELCOME, IVORY COAST:
VIEWPOINT: Andrew Cottone talks
Philly to host Côte
about Aternium's
d'Ivoire soccer team
vision to transform
6
Delaware's economy.
19
Grants & Loans Fair April 23
The Audion, 100 Discovery Blvd., Newark DE 19713
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Know Your Numbers: Understanding Key Financial Documents for Funding
This session will help small business owners make sense of the financial documents most commonly required in loan and grant applications.
9:30 - 10:30 a.m.
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What Happens After You Get the Money? A Candid Conversation with Funders In this candid panel discussion, representatives from both a lending institution and a grant‑making organization will explain what happens after the money arrives, how to properly track and use funds, what documents you’ll need to provide, how often updates are required, common red flags, and best practices to stay compliant.
GRANTS AND LOANS FAIR: 10:30 a.m. - noon
Visit with Grant Organizations and Loan Representatives Meet with representatives from grant organizations and lenders at their tables. This is your opportunity to ask questions, explore funding options, and make valuable connections to help support the growth of your business. Don’t miss this opportunity to gain insights and build relationships with key funding sources.
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WHO'S INSIDE Founded 2014, printed bimonthly, serving Delaware’s business community
Anirban Basu.............................6
DuPont.....................................13
Kent County Farm Bureau...........8
Vol. 13, No. 5 dated March 3, 2026 Copyright © 2026 by Today Media, all rights reserved
Buccini Pollin Group...................5
Edgewell Personal Care............13
Kent Economic Partnership......12
Carl M. Freeman Foundation.......9
Encoure Healthcare Services......5
Les Éléphants.............................6
Côte d'Ivoire...............................6
Energize Delaware....................11
Linda Parkowski.......................12
DE Turf Complex.........................6
Essity........................................13
Millcroft Living............................5
GROUP PUBLISHER Robert F. Martinelli rmartinelli@todaymediainc.com
Delaware City Refinery..............10
FIFA World Cup...........................6
ASSOCIATE PUBLISHER Alex Cornelius acornelius@delawarebusinesstimes.com
Delaware Natural Resources and Environmental Control................8
Foulk Living................................5
New Castle County Chamber of Commerce.................................6
Freeman Arts Pavilion.................9
Newmark...................................5
Delaware Prosperity Partnership..............................10
Hotel du Pont.............................6
Paul Waddell............................10
ILC Dover..................................13
Project Washington....................8
Delaware State University...........7
Incyte.........................................5
Rep. Sarah McBride...................8
Delaware Tourism Office.............6
Ingersoll Rand..........................13
Sage Policy Group......................6
Delmarva Chicken Association.................................8
InSolare Energy Limited............13
Starwood Digital Ventures...........8
Joshua M. Freeman Foundation.................................9
Versogen..................................13
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EDITOR Katie Tabeling ktabeling@delawarebusinesstimes.com ASSOCIATE EDITOR Jennifer Antonik jantonik@delawarebusinesstimes.com RESEARCH, DIGITAL, AND ENGAGEMENT COORDINATOR Sabrina Wade swade@delawarebusinesstimes.com ASSOCIATE PUBLISHER EMERITUS Charlie Tomlinson DIGITAL SALES & MARKETING MANAGER Karen Martinelli kmartinelli@todaymediainc.com LEAD DIGITAL STRATEGIST Mike Rocheleau mrocheleau@todaymediainc.com ADVERTISING DIRECTOR Lisa Minto lminto@delawarebusinesstimes.com MULTIMEDIA ACCOUNT EXECUTIVES Al Woolfolk, Tanya Tecce, Sophia Mitchell MARKETING DIRECTOR Kate Schlegel MARKETING MANAGER Andrea Hill SALES & MARKETING COORDINATOR Shannon Ward
Delmarva Power.......................11
Wilmington University.................5
INDEX At a Glance..........................................................4 Industry Updates..............................................5-9 Special Section: Arts.................................... 10-13
PRODUCTION DIRECTOR Eric Bolis
The List..............................................................14
ART DIRECTOR Natalie Newhart
News Briefs.......................................................15
Business Leads..................................................16 Calendar............................................................17 Editors' Letter....................................................18 Viewpoints.........................................................19
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EVENTS
(From left to right) Delmarva Power Delaware Region President and Vice President of Government and External Affairs Marcus Beal, Plant Operations Supervisor Allan Ridgway and Gas & Plant Operations Senior Manager Kevin McKelvey talk about energy supply challenges at the Delmarva Power's liquefied natural gas plant in Wilmington. DBT PHOTO BY MADDY LAURIA
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MARCH 3, 2026 / DELAWARE BUSINESS TIMES 3
AT A GLANCE
MANUFACTURING IS BIG BUSINESS Manufacturing continues to play a massive role in the U.S. economy. In Q3 2025 alone, the multitrillion dollars industry generated $2.95 trillion and it’s not slowing down — an estimated 3.8 million manufacturing jobs are expected to open by 2033. While these are big numbers, the majority of manufacturing firms are small. 74% of manufacturing firms have fewer than 20 employees. The Midwest leads in manufacturing employment, with Indiana ranking first for the largest manufacturing workforce. Meanwhile, Delaware comes in at 41st nationally. Despite this, manufacturing contributes $8 billion to Delaware’s economy, accounting for 6.9% of the state’s GDP. It’s also a high-paying field, with average annual earnings of $99,906, well above the national average. On top of that, Delaware exported $4.4 billion in manufactured goods in 2024 — proof that even a small state can compete on a global scale. Source:National NationalAssociation Association of Manufacturers, 2025. Source: of Manufacturers, 2025.
U.S. Statistics:
Delaware Statistics:
#1 Indiana
#41 Delaware
$106,691
$99,906
Average Earning
13 million
manufacturing jobs in 2025
3.8 million
manufacturing jobs expected to open by 2033
Average Earning
Delaware’s Top Exporting Destinations
Canada $666.8M 2. China $525.8M 3. Mexico $388.2M 1.
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COMMERCIAL REAL ESTATE
Incyte stops construction, will sell Bracebridge By Katie Tabeling WILMINGTON — Incyte Corporation has stopped construction work on its future downtown Wilmington headquarters with plans to sell the two buildings to the Buccini Pollin Group this quarter. Incyte announced that it had signed an agreement with BPG to sell 1100 N. King Street and 1100 N. French Street in downtown Wilmington. The buildings are informally known as Bracebridge I and III from when they were part of the MBNA massive campus; Incyte planned to turn the facilities into its headquarters with research and development space after extensive renovations. Incyte stated that it will remain “an integral part of the project” and lease 80,000 square feet of space across two floors in Bracebridge I, according to Incyte representatives. That is 15% of the 517,000 square feet of space it planned to occupy. “Partnering with BPG brings valuable local development expertise to this important site in downtown Wilmington,” Incyte CEO Bill Meury said in a prepared statement. “This approach enables us to concentrate
on our business priorities and longterm growth, while allowing us to stay involved in the project and create additional space for our workforce.” Immediate requests to Incyte for comment by the Delaware Business Times were not returned. Incyte bought the buildings in 2024 for a combined $48.7 million in a deal that drastically improved downtown Wilmington’s office vacancy rates at the time. The biopharmaceutical company also received approval for $9 million in job performance grants and $5.6 million in a graduated lab space grant to renovate the buildings for lab space. At the time, Incyte planned to bring up to 800 jobs to these buildings once
WILMINGTON —- A trio of assisted living facilities in the Wilmington area have been acquired by Encore Healthcare Services for $42.1 million. Headquartered in New York, Encore Healthcare Services announced the deal to residents in late January after purchasing Foulk Living at 1212 Foulk Rd. for $17.4 million, Shipley Living at 2723 Shipley Rd. for $17.3 million and Millcroft Living at 255 Possum Park Rd in Newark for $17.3 million. Millcroft Living has 110 beds, while Shipley Living has 82 beds and Foulk Living has 46 beds. The deal closed on Dec. 15 and residents were notified before the new year. The three facilities have a combined
NCC office vacancies end at 17.7% for 2025 By Katie Tabeling WILMINGTON — As commercial real estate brokers await what the news of Incyte’s pending deal to sell Bracebridge I and III will mean for the northern Delaware’s office market, reports show that the region ended on a high note when it came to low vacancy rates. The total office vacancy rate is now down to 17.7%, according to brokerage firm Newmark. That’s down 125 basis points from the previous quarter as Delaware Business Times previously reported. Colliers and Cushman & Wakefield both reported vacancy
More than a year after buying the Bracebridge I and III buildings, Incyte will sell them to Buccini Pollin Group | DBT PHOTO BY NATALIE NEWHART
Encore Healthcare buys Wilmington facilities By Katie Tabeling
the renovation was complete. Both Bracebridge I and III were built in the late 1990s for MBNA’s campus that once drew in thousands of employees. For years, occupancy dwindled as Bank of America started to move its operations out of downtown Wilmington until the exit was complete at the end of last year. A reported $28.6 million was spent on construction through December 2025 as Incyte started on the renovation, according to its fourth quarter filings to the U.S. Securities and Exchange Commission. In December, Incyte reclassified the Bracebridge properties as “assets to be held for sale” and recorded an asset impairment charge of $73.6 million to reflect the properties at a lower carrying amount or estimated value less to sell as of that date, as under disclosure requirements of the U.S. SEC.
workforce of 500 people. Encore Healthcare Services is a relatively new for-profit healthcare entity, first acquiring the former Friendship Village of Schaumburg in Illinois from a bankruptcy sale in 2023. That 60-acre campus can accommodate 1,000 residents. As part of the $115 million deal, Encore announced it would invest $15 million in the site. But Encore CEO Avit Satt has worked in and managed senior living homes for a while. He founded Sage Healthcare Partners which owns and operates Allergia senior living facilities in the Philadelphia and south Jersey region. In an email to the Delaware Business Times, Satt said that
Encore acquired the three Delaware facilities because it sees “strong alignment between the needs of the local senior population and our long-term mission of delivering high quality, resident centered care.” All three Delaware locations are continuing care retirement communities, or a type of facility that offers senior living, assisted living and skilled nursing care can be found in one location. Satt wrote that Encore values that model and sees potential in these communities. “Delaware is a market we believe in and these acquisitions represent a thoughtful expansion for Encore Healthcare as a majority of our corporate team reside in New Jersey and Pennsylvania,” Satt wrote. In the first weeks of its ownership of the three facilities, Encore had cut some of the workforce and is working to streamline some departments.
rates lower than that number, with 17.26% and 12.4%, respectively. The fourth quarter of 2025 saw major deals that helped move the needle for northern Delaware’s office market. Newmark noted that the largest leasing transaction between Oct. 1 and Dec. 31 was signed by Corteva for 45,842 square feet across the eighth and ninth floors at the 1000 N. West building. The public company moved in officially this year, leaving the landlords Buccini Pollin Group to relocate to the 16th floor. Wilmington University also bought the 260,000 square-foot Three Beaver Valley Road near Fairfax to eventually double the size of its Brandywine Campus. The deal represented $47.71 per square foot of the empty building, and Newmark representatives noted that it reduced vacancy for the Northern Delaware region alone.
MARCH 3, 2026 / DELAWARE BUSINESS TIMES 5
ECONOMIC DEVELOPMENT
Economist warns recession masked by AI investment By Katie Tabeling WILMINGTON — Artificial intelligence is now taking a larger role in hiding how well the national and regional economy is performing, and Economist Anirban Basu believes that it’s a cliffhanger scenario with fewer people in the economy benefiting from the tech boom. Basu, the CEO of Baltimore-based Sage Policy Group, held his annual economic forecast for the New Castle County Chamber of Commerce on Feb. 10. In his presentation, he stressed that recession risks were still high, but he expected the national gross domestic product to grow at least 2.2%. More than half of that growth is expected to come from infrastructure — for computer chips and semiconductors and the like — for AI companies. “The balance of the economy is just not growing that quickly, and that's why you see the surveys indicating that people are quite pessimistic. You did not see that when we were adding a ton of jobs and [all five income groups] were participating in the economy. Now we’re adding far fewer jobs and a lower number of people are participating in the economic expansion,” he said. The divide between Wall Street and Main Street prosperity is growing sharper as time goes on, as the top 20% of income brackets continue to grow their wealth at an exceptional
rate compared to middle- and lowincome households. That income bracket is currently doing more than one-third of consumer spending. Another sign of that wealth gap is that the Dow Jones stock market index topped 500,000 for the first time, with the "Magnificent Seven” high-growth technology companies driving that boom. But as Basu pointed out, about 40% of Americans do not own stocks. “When they hear that Nvidia just became the first company in the world to make a $5 trillion market capitalization, it doesn’t mean anything for them. It just means that somebody else will be paying the money to hold more shares,” he said. “The wealthy tend to spend more money in the economy, and that’s what keeps the business cycle going.” With so much of the economy’s growth built on the wealthy spending more and AI continuing to dominate much of the growth and the stock market rise, there’s a strong risk that destabilization in those two categories could trigger the recession that has been long feared. Consumer spending has modestly grown, with holiday spending in December noticeably flat. Any spending growth is likely a result of higher prices. Inflation rose 27.5% between May 2020 and December 2025, and price pressure on shelter, food and energy prices are
leaving consumers frustrated. “The top part of the economy, that’s really working. Most people feel that the economy is not over the top, and we really see this most profoundly in the U.S. labor market,” Basu added. He noted that while the revised labor reports hint that the U.S. added 57,000 jobs in January, the county added 10,000 jobs per month. In a country of more than
Sage Policy Group CEO and economist Anirban Basu told business leaders that investments in AI is driving much of the growth. | DBT PHOTO BY KATIE TABELING
3 million people, “that’s nothing.” With Amazon, Dow Chemical and the Washington Post and more companies cutting hundreds of jobs, it’s likely to add more upward pressure on Delaware. Basu’s analysis shows that in the past 24 months, Delaware added 9,600 jobs but the labor market took a sharp turn this year. New Castle County’s unemployment rate jumped from 3% to 5% in a year, with Kent and Sussex counties following that trend. Most of the job losses in the state were in hotels, restaurants, manufacturing while health care has been hiring at a fast pace. Widening the scope, the nation’s job losses have been in financial services and manufacturing as well as in retail and transportation. “Some of those are Wilmington and New Castle County’s core of the economy. And the economy can’t be great when hotels and restaurants are shedding so much staff,” Basu said. The Wilmington metropolitan area has among the worst unemployment rates in the country in the last two years. In contrast, the Carolinas and Texas have relatively low unemployment rates and strong employment growth – notably because those regions have been working furiously to attract private investment compared to the MidAtlantic region.
Philly, Wilmington to be base camp for World Cup By Katie Tabeling WILMINGTON — Philadelphia arenas have been selected as the practice sites for the Côte d’Ivoire soccer team during the upcoming 2026 FIFA World Cup and Delaware tourism officials are already springing into action. The West African country’s team will train at the Philadelphia Union's Subaru Park and WSFS Bank Sportsplex in Chester, according to an announcement made by officials from the World Cup host committee Philadelphia Soccer 2026 earlier this week. The team, known as Les Éléphants, has top-notch talent on the roster including Amad Diallo, the leading goal scorer for the Africa Cup this past winter. The Côte
62 DELAWARE BUSINESS TIMES / MARCH 3, 2026
d’Ivoire team won the Africa Cup of Nations three times and qualified for the FIFA World Cup at least three times. “This is a team to be reckoned with in the FIFA World Cup 2026 and Philadelphia, Chester, and our entire region love a team to be reckoned with. We welcome Les Éléphants to Philadelphia Union's stadium as their home away from home and promise to show them the best of what we have to offer during their time here this summer," Philadelphia Soccer 2026 host city executive Meg Kane said in a statement. For months, Delaware officials have anxiously awaited the announcement of which teams would be playing at the fields 15
miles away from Wilmington, bringing hundreds of fans and people affiliated with the team on the hunt for things to do and places to stay with them. While the Côte d’Ivoire team will train in Chester, their headquarters will be in Wilmington, according to Philadelphia Soccer 2026 did not specify where the team will stay, but the Hotel du Pont was identified as a possible base camp. Representatives for the Hotel du Pont declined to comment to the Delaware Business Times for this story. Here in the First State, Delaware’s top tourism officials have been meeting to talk about marketing the state and booking as many hotel rooms as possible over the summer as leaders try to fill the stands
for FIFA World Cup 2026. Early estimates suggest 500,000 visitors headed to the region for the events and many of them will need hotel stays. Last week, Delaware Tourism officials unveiled its plans to participate in World Cup celebrations, including a fan rally in May at the DE Turf Complex in Frederica. The state will also host live watch parties for four games this summer with locations in all three counties. Ticket sales start March 5. The Delaware Tourism Office has already been hearing from Wilmington hotels since the draw matches were completed in December with a spike in bookings this summer.
HIGHER EDUCATION
DSU explores property sales in Kent, NCC By Jennifer Antonik DOVER — Delaware State University is exploring selling several of its properties around the First State in the near future, including the site for its Early College School, the old Dover Library and a building off Kirkwood Highway. During the DSU Board of Trustees’ December retreat, DSU officials raised the possibility of selling three properties it holds, including one along Kirkwood Highway and two in Dover. As the state’s only Historically Black University, DSU has been able to grow in leaps and bounds in the last six years under its president Tony Allen, including through brick-andmortar acquisitions and partnerships. Discussions are preliminary, as DSU Chief Financial Officer Ben Addi told the board that interested parties had reached out to the university about the land, but no specific offers
had been made at the time. The three properties in question include the DSU Living and Learning Commons along DuPont Highway in north Dover, the former Dover Public Library in downtown Dover and a small office building called DSU Wilmington Campus at 3931 Kirkwood Highway. The DSU Living and Learning Commons is a converted Sheraton Hotel that now includes 265 student beds, as well as the institution’s Early College School. The Early College School is a charter school that opened in 2014, and offers students a chance to earn college credits and get a jump on higher education. It serves more than 500 middle to high school students. In downtown Dover, DSU is also looking at its options for the former Dover Public Library at 45 S. State St. The university acquired it, along with 55 acres in downtown Dover, from Wesley College in July 2021.
The old Dover Library at 45 S. State St. is one of three properties Delaware State University is looking at selling. | DBT PHOTO BY JENNIFER ANTONIK
The former library consists of two parcels on just under 1 acre of land and was previously sold to Wesley College for just $1 under academic-use conditions by the city of Dover. DSU asked city leadership to repurchase the property in 2024, citing its appraised value of $1.2 million at the time, but the city council declined. The capital investment for the property is roughly at $3 million,
Addi told the board. “Even for us to utilize it, we will be upside down to invest in it and bring it up to appreciate [value],” Addi said in December. Finally, DSU is also looking at selling its DSU Wilmington Campus on Kirkwood Highway. The campus includes a nearly 49,700-squarefoot building, which was originally constructed in 1955 as a U.S. Army Reserve Center.
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MARCH 3, 2026 / DELAWARE BUSINESS TIMES 7
GOVERNMENT
McBride holds inaugural agriculture summit By Jennifer Antonik HARRINGTON — Farmers and agriculture leaders packed a room at the Delaware State Fairground on Feb. 18 during an inaugural summit held by Rep. Sarah McBride. The three-hour summit underscored a widening gap between rising input costs, labor shortages, policy delays, housing and the ability of farmers, particularly smaller operations, to remain viable. “This is not political. It is not partisan,” McBride said. “Both parties have failed farmers in this country. We all have to do better.” The long-delayed federal farm bill, now more than three years overdue, was a starting point for the conversation. Delaware Secretary of Agriculture Don Clifton said that national conditions are deteriorating, noting a 46% increase in farm bankruptcies in 2025 and ongoing uncertainty around federal support programs. “The state of agriculture nationally is tenuous. Every successful farm bill has been bipartisan. If it becomes partisan, nothing gets done,” Clifton warned.
Farmers echoed that urgency, pointing to gaps between federal funding announcements and actual implementation. Kent County Farm Bureau President Jim Minner described confusion around a recently announced $12 billion federal aid package directed at farmers after struggling to find information about how Delaware producers can take advantage of the package. “If you’ve got $12 billion sitting out there, you ought to have a plan,” he said. “The right hand’s not telling the left hand what’s going on.”
Around the table, farmers repeatedly pointed to increasing input costs as the most immediate threat to profitability — particularly fertilizer, seed and insurance. “When we have a good year, prices go up for fertilizer and chemicals,” Minner said. “Then prices fall, but inputs stay high. What’s wrong with this picture?” Clifton and others dove deeper on the fertilizer situation, highlighting that there are only “five major players” in the United States’ $64 billion market. “We had a Zoom meeting with the fertilizers’ president from Missouri. [It was] asked, ‘When is [the price] going to go down?’ And his answer was, ‘When we can't pay for it,’ Delaware Farm Bureau President Bill Powers said. McBride noted, “The reality is. . . monopolization means that they can
Rep. Sarah McBride held an inaugural agriculture summit in Harrington to talk about insurance costs and the long-delayed federal farm bill. DBT PHOTO BY JENNIFER ANTONIK
essentially extort small farmers and they can say to folks the prices will come down – not when supply changes or not when we, you know, improve our methods of doing this more cheaply, but when you just can't pay anymore, when we can't extort you anymore.” She added, “One of the things that I know many of my colleagues are frustrated about with regard to the farm bill is that it doesn't do enough to address monopolies.” Other primary issues came to the surface, too, such as increasing insurance costs. Growers reported sharp premium increases and reduced coverage for older poultry houses and said the issue continues to escalate in the First State. “Insurance costs are hitting our poultry growing immensely. We’ve seen several providers no longer covering poultry houses over 20 years old,” Delmarva Chicken Association Agricultural Conservation Specialist Liz Warren said. “Here on Delmarva, we're looking at about half of our farms that have houses over 21 years old and almost 30% of those are over 30 years old. So, if they can find insurance, the cost of it is going through the roof. We know all input costs have gone up, but then to have that insurance piece go up or the threat of not being able to continue production because of insurance is really hitting our heart,” she added.
Starwood appeals Coastal Zone permit denial By Katie Tabeling DELAWARE CITY — Starwood Digital Ventures has appealed the decision of a permit for a massive data center after the Delaware Natural Resources and Environmental Control made its decision under the state’s Coastal Zone Act. The proposed 1.2-gigawatt data center, Project Washington, faced a major setback earlier this month when DNREC Secretary Greg Patterson ruled that the project was not exempt from the Coastal Zone Act, citing the “large tank farm” of diesel fuel and generators that would have a high potential of emissions — possibly higher than any other industrial use in the Coastal Zone. The Coastal Zone Act was passed in 1971 to prohibit and regulate the construction of new heavy industry in its coastal areas beyond the heavy
82 DELAWARE BUSINESS TIMES / MARCH 3, 2026
industry use sites. In the decades since, the Coastal Zone Act has required companies to coordinate with the state environmental office and complete a separate application for a permit. The appeal, filed by attorney Jeffrey Moyer of Richards, Layton & Finger, on behalf of Starwood Digital Ventures, argues that the state agency mischaracterized the data center project, as it does not manufacture uses on site, but the "management and storing of data.” “It will consist of data center buildings, associated electrical infrastructure and will use emergency generators solely to maintain operations during grid outages for limited maintenance and testing. Project Washington does not exhibit the statutory characteristics of a ‘heavy industry use,’ which include smokestacks, tanks, distillation or reaction
columns, chemical processing equipment, scrubbing towers. . .” Moyer wrote in his appeal. He continued to write that Patterson “improperly assumed and then relied on” the presence of the diesel fuel reserves as tanks, smokestacks and emergency generator emissions under federal guidance without considering Delaware’s grid outage data. DNREC
“Project Washington does not exhibit the statutory characteristics of a ‘heavy industry use,’ which include smokestacks, tanks...” JEFFREY MOYER
Attorney, Richards, Layton & Finger
relied on a hypothetical scenario of generator use per year to arrive at pollution estimates that “downplays the project's actual expected operating scenario,” he wrote. The actual operations of Project Washington, if realized, would be 20 hours per year per generator for maintenance and testing. That would generate nitric oxide and nitrogen dioxide emissions of 25 tons per year, according to the appeal. Last summer, Starwood Digital Ventures revealed plans to build the state’s largest data center to date on a 580-acre parcel between Governor Lea and Hamburg Roads, right across the street from a Delmarva Power substation. The proposal included 6 million square feet across 11 buildings with one land parcel already zoned Heavy Industrial which includes data centers as a permissible use. Other land parcels would need to be rezoned.
ARTS
Freeman Arts Pavilion nears goal for $40M campaign By Jennifer Antonik SELBYVILLE — The Joshua M. Freeman Foundation has raised more than $33 million toward a $40 million capital campaign as it works to complete the permanent expansion of the Freeman Arts Pavilion. Dubbed “the Next Stage” of the performance arts space, leaders and Freeman Foundation officials have called the project a “once-in-ageneration” transformation of the Delmarva arts landscape. Construction is targeted for early July 2026. Foundation leaders say the expansion is as much an economic investment as it is an artistic one with plans to double the size of its current stage through the new permanent stage – capable of holding 4,000 patrons per show. Construction will also include expanded technical capacity, dedicated backstage suites and improved production infrastructure. These amenities, they conclude, will allow the Freeman Pavilion to compete for larger
touring productions. The lawn will also be reshaped into terraced seating to enhance audience experience while maintaining flexible capacity for 4,000 guests. All of these enhancements, including the replacement of the temporary backstage facilities with permanent, climate-controlled spaces, are expected to strengthen the venue’s booking power, extend performance runs and increase tourism-driven spending in coastal Delaware.
Development Director Darren Silvis said the campaign gained early momentum through a lead transformational gift from the Carl M. Freeman Foundation which helped launch the broader fundraising effort. Since then, donors have helped to bring total commitments to more than $33 million. Silvis did not name specific donors for this project. “With the Pavilion’s final stage and support facilities nearing completion,
The Freeman Arts Pavilion is getting a new look this summer with a new performance arts space. | PHOTO COURTESY OF JOSHUA M. FREEMAN FOUNDATION
broad community investment is critical to reaching the finish line,” Silvis told the Delaware Business Times in a prepared statement. “Securing the remaining funds necessary for completion and long-term sustainability will ensure this facility serves Delmarva for generations.” Long-term plans for expansion have been in the works since the Pavilion opened in the summer of 2008 as Freeman Stage. As annual programming expanded and attendance grew, foundation leaders began sharing plans for the permanent structure designed to elevate production quality and guest experience. Beyond arts programming, the venue has become a significant seasonal driver of tourism and hospitality activity, drawing visitors from across Delmarva and beyond. The organization now generates more than $24 million annually in local spending and has contributed nearly $150 million in cumulative economic impact since 2008.
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XSPECIAL SECTION: MANUFACTURING
Risk Area Summary 2026-2030
Shows highest risk classification that occurs in the first 5 years and states initial year of occurrence IMAGE COURTESY OF THE NORTH AMERICAN ELECTRIC RELABILITY CORPORATION
Overcoming challenges in Delaware’s new ‘age of electrification’ ‘Bring your own generation’ may be new business priority in Delaware, Mid-Atlantic region
By Maddy Lauria Contributing Writer The City of Dover’s power plant — used only in periods of high regional demand — had already been running more than normal by the time the first blizzard in years hit Delaware. Paul Waddell, the city’s electric director, said an earlier winter cold snap had the 42-megawatt natural gas-fired “peaking” plant running close to 70 hours in the first 45 days of 2026 — quickly approaching 2025’s total run time of 107 hours. “We have a 42 megawatt unit, so if [for example] they take a 500 megawatt coal-fired unit offline, that’s 10 of us that need to be found and that need to be fired up,” he said as he explained energy challenges facing the PJM Interconnection which oversees electricity transmission operations for 67 million customers across Washington D.C. and 13 states including Delaware. The City of Dover electric department’s experience this year, directly due to weather, offers a glimpse at a future grappling with
rising energy demands in Delaware and beyond. As people and businesses move toward more electrified lives and new power generation projects in the region are slow to come online, it’s likely these back-up sources will have to be called upon to fill in future gaps between supply and demand. “It’s a regional issue. Delaware can’t fix it,” Waddell said. “If you’re wanting to create a fix — and this is just Paul talking — to just solve Delaware’s problem, then generation needs to be built.” Delaware is not alone in the sea of red warnings spread across a U.S. map illustrating regions that are at a higher risk of blackouts starting in 2029, according to a January 2026 reliability outlook report by the North American Electric Reliability Corporation. The report blames PJM’s problem largely on increased electrification and data centers, as well as the decommissioning of existing generation capacity — to the tune of 2 gigawatts planned to go offline as of 2024. “PJM faces an extreme and rapid tightening of supply and demand
102 DELAWARE BUSINESS TIMES / MARCH 3, 2026
for capacity resources in the near term and needs additional resources to rapidly address its near-term reliability challenges,” the report summarizes. Delaware’s industrial and commercial sectors consume nearly three times as much energy as the state’s residential sector, according to data provided by the state. Businesses that operate heavy equipment, whether slaughtering chickens or creating chemicals, naturally consume more energy than warehouses or office spaces. That also includes manufacturing operations related to Delaware agriculture which itself is a nearly $8 billion industry bolstered by poultry production and processing. “BYOG — bring your own generation — is increasingly the way things are heading,” said James Wilson, an energy economist who works with multiple states’ consumer advocates to monitor PJM. “With ChatGPT and artificial intelligence, things have gotten a little crazy and we don’t really know where all of this is going to go.”
A problem decades in the making For existing and prospective high-energy users — not just data centers, but also manufacturers that Delaware’s elected officials have long sought to reinstate — energy availability, reliability and cost have always been part of the equation. But now, manufacturers considering coming to the state are saying, “We need this, but we plan to provide our own power,” according to Delaware Prosperity Partnership interim President and CEO Becky Harrington. Those plans may be years down the road, but there’s no question that energy reliability concerns have now risen to the top of site selection criteria. “We are seeing more demand for increased load,” she said. “Sometimes we can compete and sometimes we can’t.” Some legacy industrial sites, like the Delaware City refinery, already generate their own power and profit from the extra energy they contribute to the regional grid. Megawattscale solar farms across the state
XSPECIAL SECTION: MANUFACTURING are providing local power and even adding some electrons to the mix, but those sources still pale in comparison to the gigawatt-scale generating power of industrial fossil fuel or nuclear power plants. Delaware State Chamber President Michael Quaranta said current concerns among Delaware manufacturers and businesses aren’t pending fears of blackouts. It’s all about the bottom line. “The price of their utility bill has gone up and manufacturers feel it most,” Quaranta said. In 2024, inflated energy costs that were some nine times greater than previous prices prompted outcry that led to price caps. The affordability problem persists — in December 2025, megawatt hours cost even more than the auction prices in 2024. According to the U.S. Energy Information Administration, Delaware ranks sixth in the nation for highest natural gas costs as of October 2025. And even though Delaware’s head environmental official recently denied an integral environmental permit for a massive data center near Delaware City, the rise of data centers in the region is already impacting the local PJM grid. Virginia has been “ground zero” for data center growth, skewing the PJM region to be oversaturated compared to other markets, Wilson said. “I’m not sure that saying no to ideas is always the best course of action,” Quaranta said. “I think that we could find ways to get to yes and then garner the resources, right size, other things that we’re doing and collectively we can make the advancements to be part of the economy and tomorrow’s economy.
farmer, for example, recently received funding for $80,000 in energy efficiency measures on his farm. He’s expected to see some $114,000 in lifetime energy cost savings from upgrading just one of the chicken houses there, Slater said. Meanwhile, innovative CEOs like Aternium’s Andrew Cottone, are banking on the promise of emerging technologies like clean hydrogen. The company, formerly known as First State Hydrogen, aims to break ground by 2027 and eventually manufacture multiple products, including hydrogen and heavy water. “There’s no such thing as an energy transition,” said Cottone, “There’s only energy addition: Better, cleaner and less expensive ways to produce our energy.” While the promise of hydrogen is likely still a decade away, Cottone said the operation will employ another energy-saving technique that businesses today can already implement to offset energy needs: demand response programs. When energy demand surges on the grid, because of an extreme cold snap for example, Aternium’s operations could come offline. Companies that can make such adjustments, operating in off-hours or avoiding energy draws during peak use times like in the
morning and evening hours, can even qualify for financial reimbursements. While current customers wait for newer energy technologies like hydrogen or the promise of small modular nuclear reactors to catch up, energy experts like Cottone, Slater and others said demand-response and energy efficiency measures will be key for Delaware businesses. “We have several members of demand response programs here in Dover that are industrial, they’re commercial,” said Dover’s Waddell. “You have to kind of look at it and see if it fits for your business model.”
In lieu of official requirements for new users to invest in new energy infrastructure or upgrades, Delaware businesses can control their own energy savings through efficiency and related programs. “The cheapest and cleanest energy is the energy you don’t consume at all,” said Energize Delaware Executive Director Andrew “Drew” Slater. Energize Delaware, which is supported by funds collected through the Regional Greenhouse Gas Initiative, has recently seen an uptick in interest for commercial loans and other grant and rebate programs, particularly from family farmers in the poultry business. One poultry
Like the City of Dover’s peaking plant which has been running more than usual so far in 2026, Delmarva Power’s Wilmington liquefied natural gas facility has also been working hard to accommodate needs. By February of this year, the onsite cryogenic storage tank was already depleted to 35%. In 2025, they only used about 40% of the fuel stored in the tank all year. As Delmarva Power’s new Delaware Regional President and Vice President of Government and
A cryogenic storage tank near Wilmington's Riverfront for liquefied natural gas which is owned by Delmarva Power. | DBT PHOTO BY MADDY LAURIA
“We are seeing more demand for increased load. Sometimes we can compete and sometimes we can't.” BECKY HARRINGTON
Interim President & CEO, Delaware Prosperity Partnership
Official interventions required
Banking on science
External Affairs Marcus Beal joined plant staff on site this February, he talked about the company’s hopes for helping fill the shortages anticipated by rising demand and stagnant generation growth.
“We are ready, if called upon, to build generation and that could be gas generation,” he said, noting that adding generation to the transmission company’s portfolio would take significant cooperation from lawmakers and regulators. The Exelon-owned company, which only operates transmission and distribution systems, is interested in getting into battery storage capacity and solar projects, as well, Beal said. But they can’t just do whatever project they want; Delmarva Power and other energy providers are subject to strict regulations and oversight by bodies like the Public Service Commission. Delmarva Power’s latest rate increase request has people concerned about future bills going up, yet again. “I think everybody recognizes that we have an affordability issue,” Beal said, arguing that Delmarva is also at the mercy of the market when it comes to fuel prices at times. “The folks that are close to it recognize that it is driven by a need for more generation.” That’s why state Republican lawmakers have been eyeing NRG Energy’s retired Indian River Power Plant as a potential for energy infrastructure expansion. The Sussex County industrial site has sparked partisan debate in Delaware’s capital related to its role as a future substation connection for currently stalled offshore wind projects. An NRG spokesperson declined to comment on the site’s “uncertain” future. “We know we’re in a situation now where we need generation quickly,” said Beal. “I think you can offset a lot with energy efficiency programs. We’re in a situation now where you need a combination of everything.”
MARCH 3, 2026 / DELAWARE BUSINESS TIMES 11
XSPECIAL SECTION: MANUFACTURING
Manufacturing remains critical to Kent economy By Jennifer Antonik While Delaware’s economy has seen ebbs and flows based on trends, manufacturing has remained a steady force to the First State’s identity – especially in Kent County. In fact, Kent Economic Partnership Executive Director Linda Parkowski told the Delaware Business Times that “manufacturing is Delaware.” She pointed to several manufacturing sites across the state as historical anchors to its industrial roots, such as gunpowder production along the Brandywine River, DuPont’s early operations in Wilmington and Seaford, and central Delaware locations like Playtex in Dover and its subsequent spinoffs including Edgewell and ILC Dover. Legacy brands such as Kraft Heinz, General Foods, Dentsply Caulk and Baltimore Air Coil have further cemented central Delaware’s industrial presence over the decades. Today, she said that legacy remains critical to Delaware’s continued economic trajectory. At its core, manufacturing provides something increasingly difficult to secure in many sectors: stable, familysupporting wages.
Manufacturing jobs allow workers to “make a good living, buy a home, buy a car, take care of their children,” Parkowski said. For Kent County in particular, industrial employers have long served as the backbone of the workingclass economy. As housing costs and inflation continue to pressure household budgets, she argued that retaining and growing manufacturing is essential to preserving that middleincome pathway. But manufacturing in 2026 looks very different than it did in the days of canneries and shipyards. Automation, robotics and computer-operated control rooms have transformed the production floor. Modern facilities now rely less on manual labor and more on technicians who can operate and maintain advanced systems. Even food production has shifted, Parkowski noted, as manufacturers adapt to consumer demand for healthier products and evolving supply chain standards. The result is a sector that continuously adapts to consumer expectations and global competition and one that now requires a more technically trained workforce
Versogen signs licensing deal with Indian firm By Katie Tabeling NEWARK — Versogen, a startup manufacturing firm that focuses on membranes used in the production of clean hydrogen, has entered into a licensing agreement with one of the top renewable energy companies in India to bring Versogen a step closer to commercialization. InSolare Energy Limited is a leading clean energy solutions provider in India, building solar energy fields and clean energy plants across the nation. The company will license Versogen’s electrolyzer stack intellectual property and have access to the start-up’s knowledge to build a new manufacturing plant down the line.
The factory will be built in India and would be 250 to 300 megawatts in power and able to scale to 1 gigawatt for anion exchange membrane electrolyzers. This would serve domestic demand as well as “catering to select international markets.” In exchange, Versogen would be paid an undisclosed licensing fee and will have opportunities to sell its ion-exchange membranes – a semi-permeable material that allows the separation of hydrogen and oxygen to occur. As more countries are working to reduce greenhouse gases and commercialize the next fuel source, these membranes hope to become an integral part in creating green
122 DELAWARE BUSINESS TIMES / MARCH 3, 2026
which, she argued, comes with a positive change – larger paychecks to accommodate for the skills needed on the floor. It also increases the importance of preparing students not just for today’s jobs, but for those that will exist 10 years from now, she emphasized. Modern plants include computerdriven control rooms and automated systems that require technical literacy. Workforce development programs through Polytech and Delaware Technical Community College are part of that pipeline, but Parkowski said earlier exposure, particularly at the middle school and high school levels, will be key to longterm competitiveness.
Beyond workforce development, site selection and ready-to-build industrial land is also a primary factor for future manufacturing facilities, something Parkowski has been working on for years in Kent County.
Freight rail is emerging as a strategic advantage with some industrial sites coming online soon along the railway, namely in Harrington through the Harrington Industrial Park. It sits along existing freight lines, giving manufacturers potential access to railbased shipping. “Access to freight rail is extremely important in today's world,” she told DBT. “You know, when everyone is trying to save on truck traffic, freight offers a great option to help reduce costs on shipping.” The stakes are high, she emphasized. Without designated and infrastructure-ready industrial space and a prepared workforce, she warned that companies and the jobs that come with them may look elsewhere. For Kent County, where manufacturing has long defined its economic base, preserving industrial capacity is about more than growth. It is about continuity. As Delaware competes regionally for investment, officials say maintaining a business-friendly environment, investing in workforce development and protecting industrial land will determine whether manufacturing continues to define the state — or becomes a chapter in its past. But Parkowski isn’t concerned. “We’re ready. This is where the jobs are going to come from and we’re working hard to bring them here,” she said.
hydrogen as one possible solution. Versogen Chief Commercial Officer Jim Prendergast told the Delaware Business Times that the deal with InSolare was a strong marriage between two companies with the same mission. “We have the technology, but we’re a smaller company. We’re not DuPont and we don’t have plants all over the place and the infrastructure to do it. InSolare does have that infrastructure in India, but not the technology. This is a way we can come together and collaborate on how our technology can fit into their reach,” he said. Versogen has come a long way from research at University of Delaware and shared lab space at the Delaware Innovation Space. Born from the research and development of its founder Yushan Yan, the company now has more than 100 customers on four
continents. The company has also benefited from millions in federal grants in the past, mostly pushed by then-President Joe Biden’s goal of lowering clean hydrogen cost by 80% to $1 per 1 kilogram. But as President Donald Trump has swiftly acted to reshape federal and economic policy, much of the incentives for hydrogen have evaporated or been stopped. Tax credits for clean hydrogen production ended five years earlier than scheduled and two of the regional hydrogen hubs slated to receive billions in funding had grants removed. In contrast, India is intensifying its interest in green hydrogen and renewable energy and has kept most of its incentives intact to spur development. Last year, the country’s renewable energy capacity surpassed its 250 gigawatt goal through solar and wind power.
“This is where the jobs are going to come from and we’re working hard to bring them here.” LINDA PARKOWSKI
Executive Director, Kent Economic Partnership
XSPECIAL SECTION: MANUFACTURING
Del.�s iconic products under new ownership By Katie Tabeling Two iconic “made in Delaware” products have been acquired by outside firms in two years, marking a new chapter for what it means for the people who make them. In early February, Essity closed the $340 million acquisition of Edgewell Personal Care, which included the Playtex brands and the tampon manufacturing plant in Dover. It was less the location of the plant and more the brands themselves that made it a prime opportunity for Essity, according to Amy Bellcourt, the Essity Vice President Corporate Communications. “These are strong heritage brands, and generations of women know what they are. It’s not easy to create a brand from scratch,” Bellcourt told the Delaware Business Times. “The ability to have access to these brands was what attracted us to the deal at first. It’s too soon to be thinking about expansion plans.” Delaware’s main selling points for manufacturers and distributors have long been its central location on the East Coast, which makes it easy to connect with a network of factories and customers through interstates and highways. The state is within a three-hour drive from New York City and Washington D.C., hitting markets with 8 million people. But for Essity it was less the location and more of the people who work at the Playtex factory that were the asset. The factory has around 450 workers, and many had been working there for years. Essity has 14 factories across North America, and Bellcourt said that in her experience it’s common
to have employees stay for 30 years and possibly bring their children on board. In Dover, that culture is already there, she added. “The machines make these products but it’s also a long tenured team that knows what they’re doing. They’re experienced, and there’s that rare ability to continue to bring on more people to the team,” Bellcourt said. “At the end of the day, you need a team that can deliver the quality of product on time, with safety in mind and at the right cost. And that comes down to people.” In a sense, the same could be said for the minds behind Kevlar, a synthetic fiber invented by DuPont in Delaware more than 60 years ago. The product along with DuPont’s aramid business division including Kevlar, along with Nomex, was sold to private equity firm Arclin for $1.8 billion last summer. Kevlar is five times stronger than steel when the weight is equal and was first designed for lightweight tires. The name has become a legacy in itself, as it’s used in body armor for law enforcement as the synthetic fiber material can stop a ballistics round. In 2023, DuPont unveiled Kevlar EXO, which is at least 30% stronger than Kevlar and less material– making it a soft armor like bulletproof vests. This year, DuPont announced it would now turn Kevlar EXO into a reinforcement layer for hard plate armor like helmets and plates to protect against rifle rounds. Hard armor typically has a ceramic plate, and that’s meant to fracture the round and the material behind it is supposed to fracture it.
HO N O R I N G TO P L EA D ER S I N D EL AWA R E AP P L ICAT I O N S A R E O PE N The CEO Awards program honors CEOs and C-Suite leaders across Delaware. This program recognizes outstanding professionals not only for their leadership within their organization, but also for their contributions to the Delaware business community. Honorees will be selected on demonstrated exemplary leadership, innovation, and performance in their respective executive roles. Honorees will be celebrated at an in-person awards event in June 2026 and profiled in the Delaware Business Times’ June 16th issue. Awards will be presented for leaders in both profit and nonprofit sectors, each in three levels. NEW THIS YEAR: Delaware Business Times is excited to also celebrate five C-Suite Executives. Submit an application or nominate a deserving professional today. Application window is open through March 18th. More information: delawarebusinesstimes.com/events/ceo
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For more information contact your Account Executive or DBT Advertising 302.656.1837 | advertising@delawarebusinesstimes.com Kevlar has been expanded through Kevlar EXO, and now is being developed for use in helmets and plate inserts. | PHOTO COURTESY OF DUPONT MARCH 3, 2026 / DELAWARE BUSINESS TIMES 13
THE LIST
MANUFACTURERS
AT THE TOP
Ranked by number of Del. Employees RANK
1
COMPANY
CONTACT
Mountaire 29292 John J. Williams Highway Millsboro, Del. 19966
(302) 934-1100 mountaire.com
DEL. EMPLOYEES
DESCRIPTION
SENIOR EXECUTIVE(S)
FOUNDED
4,738
Poultry Production
Amanda Irwin (President)
1914
AMANDA IRWIN Mountaire President
2
W. L. Gore & Associates, Inc. 555 Paper Mill Road Newark, Del. 19711
(302) 738-4880 gore.com
3,100
Industrial Equipment & BioPharmaceutical
Bret Snyder (CEO)
1958
Since 2025 Alma Mater: Clemson University & Wilmington University
$8B Value added to the economy,
3
Perdue Farms Inc. 255 N. Rehoboth Blvd. Milford, Del. 19963
4
AstraZeneca 1800 Concord Pike Wilmington, Del. 19803
(302) 424-2600 perduefarms.com
per National Association of 2,835
Food Production
Kevin Adams (CEO)
1920
Manufacturers (NAM) in 2024.
$99,906 (800) 236-9933 astrazeneca.com
1,700
Bio-Pharmaceutical
Rick Suarez (US President)
1999
Average annual earnings for manufacturing employees, per NAM in 2024.
5
Qnity Electronics 974 Centre Road Wilmington, Del. 19805
(989) 839-9522 qnityelectronics.com
1,400
Advanced Materials
Jon Kemp (CEO)
2025
Canada Top export destination, per NAM in 2024.
6
Allen Harim 29984 Pinnacle Way Millsboro, Del. 19966
(302) 629-9136 allenharimllc.com
1,263
Food Production
Michael Little (CEO)
1919
7
DuPont 974 Centre Road Wilmington, Del. 19805
(302) 295-5783 dupont.com
1,000
Advanced Materials
Lori D. Koch (CEO)
1805
8
Agilent Technologies 2850 Centerville Road Wilmington, Del. 19808
(800) 227-9770 agilent.com
758
Laboratory Technologies
Padraig McDonnell (President & CEO)
1999
9
Bloom Energy 200 Christina Parkway Newark, Del. 19713
(302) 533-3650 bloomenergy.com
528
Renewables & Environment Technology
Satish Chitoori (COO)
2001
10
The Chemours Company 1007 Market St. Wilmington, Del. 19801
(302) 773-1000 chemours.com
460
Specialty Chemicals
Denise Dignam (President & CEO)
2015
11
Diamond Materials 242 N. James St., Suite 102 Newport, Del. 19801
(302) 658-6524 diamondmaterials.com
350
Infrastructure & Asphalt
Richard Pierson, Jr. (President & Owner)
1997
Our upcoming lists include: Banks/Credit Unions (3/17) Solenis 2475 Pinnacle Drive Wilmington, Del. 19803
(302) 502-0751 solenis.com
350
Global provider of water and hygiene solutions.
John Panichella (CEO) Philip Patterson (Senior Vice President & CFO)
2014
Commercial Real Estate (4/7) Auto Dealers (4/21)
Source: Information for Delaware Business Times' lists are either generated through public sources or supplied by individual organizations through questionnaires. We assume that information provided by company representatives is accurate and truthful.
1 Hologic did not provide the total number of Delaware employees as of Feb. 25 for the print edition.
142 DELAWARE BUSINESS TIMES / MARCH 3, 2026
Family-Owned Businesses (5/5) If your organization should be on one or more of these lists email swade@delawarebusinesstimes.com
NEWS BRIEFS For more coverage of these stories, visit DelawareBusinessTimes.com
Applied Bank donates $7.6M to Rocco A. and Mary Abessinio Foundation
Applied Bank announced a $7.6 million donation to The Rocco A. and Mary Abessinio Foundation, a Delaware-based nonprofit charitable organization. Since its inception in 2001, the Abessinio Foundation has made transformational gifts totaling more than $50 million, primarily funding education, healthcare, and religious initiatives and programs. Rocco Abessinio, a longtime philanthropist, is the founder of Applied Card Systems, Applied Bank, and Roch Capital. Applied Bank’s $7.6 million donation will support the Abessinio Foundation’s continued charitable giving in the region and further its mission of strengthening communities, expanding opportunities, and building foundations of support for those in need. This gift is in addition to the $6.5 million in donations Applied Bank has already made to nonprofits in 2025.
A hiring freeze has been ordered for the New Castle County government. | DBT PHOTO BY KATIE TABELING
Hiring freeze ordered for New Castle County government
A hiring freeze has been ordered for the state’s upper-most county as leaders struggle to address budget challenges. New Castle County Executive Marcus Henry announced that he imposed a “temporary pause on filling vacant positions across county government.” Exceptions to this direction will be considered for “positions that are critical to essential services and core operations.” He added in a written statement that, “taking this step now is necessary to manage taxpayer dollars responsibly and position the county for long-term stability. Acting early gives us flexibility and helps ensure we can continue delivering the high-quality services our residents rely on.”
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A new microbrewery is headed for Smyrna. | PHOTO COURTESY OF JOSH OLALDE/UNSPLASH
Stonewall Group acquires Architectural Alliance
The Architectural Alliance, a Wilmington-based firm, has partnered with and been acquired by The Stonewall Group. The firm will keep its brand and leadership while gaining operational support and access to a national platform. Founded in 1987, Architectural Alliance has built a distinguished reputation for delivering thoughtful, client-centered architectural solutions across commercial, residential, institutional, historic, and adaptive reuse projects. Known for its collaborative design approach and commitment to service excellence, the firm has become a trusted partner to developers, municipalities, institutions, and private clients throughout the MidAtlantic region. Architectural Alliance will continue operating under its established brand, led by its current leadership team, ensuring stability, continuity, and an uninterrupted commitment to client success. The partnership equips the firm with expanded resources, operational support, and the national platform needed to pursue new opportunities while maintaining its boutique service model.
Kent County approves microbrewery, retail project in Smyrna
A new microbrewery and retail concept is moving forward in Smyrna following site plan approval from the Kent County Regional Planning Commission. The commission voted unanimously on Feb. 12 to approve an application submitted by Shiv Shanker, Inc., for the construction of an approximately 11,920-square-foot microbrewery and accompanying retail space. The project is located at 2252 S. DuPont Blvd. within a designated growth zone overlay district and is zoned BG (general business) where such uses are permitted. Approval was granted based on the county’s staff recommendation report and nods to Kent County’s comprehensive plan and applicable sections of state code. Commissioners did not raise concerns during the short hearing and no public opposition was recorded prior to the vote. As part of the approval, the developer must meet all staff and agency requirements outlined in a recommendation report filed on Feb. 12, including site plan adjustments such as the installation of bicycle parking.
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BUSINESS LEADS REAL ESTATE TRANSACTIONS Source: Local Recorders of Deeds
NEW CASTLE CO. Buck-Kennett III to TMO RJ Helm & Deemer DE; 1 Deemers Landing, New Castle 19720; $36,876,475 Buck-Kennett III to TMO RJ Helm & Deemer DE; 419 W Ninth St., New Castle 19720; $19,423,475 Excalibur Holdings to American Real Estate Holding Wilmington; 900 Foulk Road, Wilmington 19803; $9,500,000 Premier Healthcare to Blue Newark Realty; 254 W Main St., Newark 19711 $3,400,000 Par 1, Inc. to NVR, Inc.; 820 Prairie
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Beach 19930$3,400,000 Stratford Enterprises to Rick & Shannon Winston; 37 Maryland Ave., Rehoboth Beach 19971; $3,330,000 303 Laurel Street to John III & Lauren Lazzati; 303 Laurel St., Rehoboth Beach 19971; $3,100,000 A. Jay Dolby to South Dolby; 22183 Sussex Highway, Seaford 19973; $2,520,000 PTV 1309 to 603 Dundalk; 18499 Sussex Highway, Bridgeville 19933; $2,491,033
$1,407,000
Kalafos; 27726 Sunwalk Blvd., Millsboro 19966; $2,200,000
Nicolosi; 4008 Springfield Lane,
Donatienne Lerolle to Robert Jr. &
Wilmington 19807; $1,100,000
Debra Pace; 10 Lands End Drive, Rehoboth Beach 19971; $2,175,000
Home; 3314 Rookery Lane, Middletown
Blanche Baker to Kyle Sareyka; 9
19709; $1,034,525
Bay Point Road, Millsboro 19966;
NVR, Inc. to Candelora 2024 Trust;
$1,950,000
1147 Spyglass Hill Way, Wilmington
Eugene & Kathryn McGuire to Eric
19808; $980,875
Kastendike; 38847 Cleveland Ave.,
K&M Construction to Terence & Julie
Selbyville 19975; $1,625,000
Murphy; 4 Meteor Lane, Newark 19711;
TPG AG EHC III (Len) Multi State 6
$960,000
to U.S. Home; 15817 Seawatch Drive,
Joseph Rhoades & Valerie Baker to
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Lawrence; 124 Layton Drive, Bethany
Jeffrey Nickel to Paul Jr. & Barbara
AG EHC II (Len) Multi State 3 to U.S.
Find out...
124 Layton to Gregory & Jennifer
Dunes Drive, Wilmington 19808;
Betty Diznoff to Thomas & Danielle
IS YOUR BUSINESS ON THE LIST?
SUSSEX CO.
Millsboro 19966; $1,504,460
Stephen & Donna Shea; 1314 Woodlawn
Mary Stack to Arthur & Laura Ibers;
Ave., Wilmington 19806; $725,000
20822 Cormorant Way, Ocean View
French Park to NVR, Inc.; 1821 Bergerac
19970; $1,305,500
Court, Newark 19702; $720,000
Henry Eickelberg to Darci Whitehead;
Blenheim Shallcross & Blenheim at
15 Kings Creek Circle, Rehoboth Beach
Bayberry SouthVishnu to Patlolla &
19971; $1,300,000
Nikhita Gopidi; 3637 Michener Drive,
Disco Delaware to Lindsay Eisler; 1301
Middletown 19709; $719,950
Coastal Highway, Dewey Beach 19971;
KENT CO.
$1,300,000
Pamela Marie-Onusko to The Apex
SB Miralon to Paul & Sharon Kobilka;
Centra; 671 Williamsville Road, Houston
29303 Otto Drive, Milton 19968;
19954; $1,460,000
$1,160,000
Ricka Neuman to Daniel & Rhoda Troyer;
Ingram Village Investment to D.R.
1879 Fox Hole Road, Camden Wyoming
Horon, Inc.; 577 Norwood Drive,
19934; $1,000,000
Ellendale 19941; $1,120,000
Insight Building Co. to Richard & Laura
Wesley & Alice Costello to Spencer
Semmens; 225 Galena Road, Frederica
Lightenberg; 46 Bay Reach, Rehoboth
19946; $799,197
Beach 19971; $1,025,000
BUSINESS CALENDAR Unless otherwise noted, webinar access details (including dial-in information) will be e-mailed to registrants. Dates and times subject to change.
MARCH 5 4:00 PM - 7:00 PM 17th Annual Spring Expo The Middletown Area Chamber of Commerce will host the 17th Annual
APRIL 16 9:00 AM - 3:00 PM 25th Annual 55+ Expo The Central Delaware Chamber of Commerce will host the 25th Annual 55+ Expo, providing an opportunity for organizations to share their products, services, and information with attendees. The Expo offers a
Spring Expo in the Delaware region,
platform to reach potential clients,
providing an opportunity for sponsors,
and double booth spaces are available
corporate exhibitors, and vendors
at discounted rates for those seeking
to promote their businesses to the
additional visibility. The event will be
surrounding community.
promoted statewide by The Dover
For more information,
Post to over 300,000 people over the
visit business.maccde.com/events
next three months and will include
MARCH 5 - 6 Do More Delaware Do More 24 Delaware is a 24 hour day of giving designed to help nonprofits raise more money and engage new donors. To support these and other Delaware nonprofits year round, visit degives.org.
MARCH 10 7:00 PM - 8:00 PM Foundations of Financial Literacy Crypto
an official program guide. For more
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APRIL 23 8:30 AM - 12:00 PM SBDC Spring Grants & Loans Fair The Spring Grants & Loans Fair, presented by the Delaware Small
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Business Development Center (SBDC) and Delaware Business Times, features two educational sessions on securing funding and managing capital
Join us for this session in the
(tracking and reporting) after you
Foundations of Financial Literacy
receive it—followed by the opportunity
series. Designed to support educators
to connect with key lenders and
in exploring key topics in financial
grant organizations to help fuel small
education, this workshop offers
business growth.
practical insights and resources to
For more information and tickets,
enhance classroom learning.
visit delawarebusinesstimes.com/
For more information,
events/sbdc.
DO YOU HAVE A NEW HIRE, PROMOTION OR EMPLOYEE ACCOLADE TO SHARE?
visit events.udel.edu/event
MARCH 18 11:59 PM CEO and C-Suite Awards Application Deadline The CEO and C-Suite Awards recognize outstanding CEOs and C-Suite leaders across Delaware. This program celebrates outstanding professionals not only for their leadership within their organization, but also for their
MAY 6 Excellence in Nursing Delaware Today and 302Health present the 14th Annual Excellence in Nursing Awards and pay tribute to the outstanding nurses who have made a difference in our community. This elegant event will recognize the state’s top nurses who will also be featured in Delaware Today‘s May 2026
contributions to the Delaware business
issue. The awards program includes
community. For a chance to be a 2026
cocktails, dinner, entertainment, and
honoree, apply by March 18. For more
the opportunity for the honorees to
information,
celebrate with their distinguished
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EDITORS' VIEW
The intensifying spotlight on Meyer in the national news It’s hard to say whether Gov. Matt Meyer’s profile is large because of how radically different the Katie Tabeling media landscape is today compared to where it was nine years ago. One thing is becoming very clear to me: Meyer is embracing the national media in an eye-catching way during a charged moment in national politics. Typically I take the night off for the State of the Union address because, frankly, I believe with the number of national media outlets covering it I’m not sure what I could contribute to the conversation. (That was also the case with President Joe Biden). Tensions are already high between the federal government and Democratic governors, and the economic uncertainty and hardline immigration enforcement across the country is raising the temperature. But there was one announcement from Meyer’s office that caught my eye: he would be speaking at the State of the Swamp. The name likely is a tongue-in-cheek reference to a popular catchphrase to “drain the swamp” back in 2015 when Trump was elected the first time. But this speech, which was hosted at the National Press Club, in Washington D.C. was more of a rally to energize activists and to counter the State of the Union.
Among the top speakers were Minneapolis Mayor Jacob Frey, Stacey Abrams, Don Lemon and Meyer himself. In fact, Meyer was on the top line, right after Frey’s name in advertisements. In a panel discussion with former ABC journalist Terry Moran and civil rights leader Rashad Robinson, Meyer talked about legislation he signed to establish Anti-SLAPP laws and banning book bans based on ideological reasons. He insisted that billionaires were taking control of the media and the messages of what Delawareans see and hear. In what may be his strongest condemnation of President Trump to date, he said that “we have a president who has used the worst of citizens united to put this country at the disposal of a very few privileged people.” If you listened longer, there was an even stronger condemnation after that. “Do you think someone who has led us into Jan. 6 is looking to save our votes? He has no credibility. You can look at passport requirements, birth certificates and hints that ICE is coming to polling places near you. And we all need to stand up. I’m going to do my part as governor of Delaware,” he said. I think it’s fair to say that in the past year Gov. Meyer has seen enough of the Trump administration and its intentions. The longer the first year of Trump’s second term went on, the more Delaware saw what the untested governor would do in response. He’s
182 DELAWARE BUSINESS TIMES / MARCH 3, 2026
signed legislation banning 287(g) ICE partnerships between federal immigration agents and local police departments. But what fascinates me the most about Gov. Meyer is not his evolution to stand against the Trump administration. It’s not his life story which includes starting a small business in Africa, serving as a U.S. diplomat in a war zone and teaching math courses. It’s how his media presence has been so consistently focused on national and international exposure. This week, Meyer has been on C-SPAN’s Ceasefire program with Gov. Kelly Armstrong of North Dakota, talking about how he would not attend a National Governor’s Association meeting with Trump. He’s also been on CNN talking about Delaware’s response to the winter storm. In January, he talked about protesting ICE and the deportation of disabled immigrant Victor Acurio Suárez. Five months ago, he was on CNBC talking about the state’s corporate laws amid the drama from the so-called Dexit. And a year ago, he was with Kaitlan Collins on CNN’s “The Source” to talk about Delaware schools and lowering costs. I may be relatively young in the grand scheme of things, but I really can’t remember then-Gov. John Carney being this available for the national media, save during the COVID-19 pandemic as rumor has it that Wolf Blitzer has a home in Rehoboth Beach. Carney did also have the timing to be
Delaware’s governor when Biden was president and he did serve on national committees like the National President of the Council of State Governments. Overall, he had a much lower profile — quite possible because he may have been one of the last of the “old guard Delaware democrats.”` It goes without saying that the media landscape is more diverse than ever. I get recommendations to follow what I call Delaware influencers every day, each with their own spin on the news of the day and scores of likes. Perhaps Meyer is also seeking to diversify his own presence on platforms. But this is not like any other time in history. What will this new attention bring to the First State, at a time when challenging the federal government is met with hostility and retribution. I don’t believe that is an exaggeration to say. In Meyer’s own words at the “State of the Swamp,” he had a mentor he talked with when he became New Castle County executive. “He sat me down and said ‘you have the trust of the people, you’re shiny and new. You only get that once and you can’t lose that,” Meyer said. “We can all think of people who have lost that. Our president has lost the credibility of the American people.” He’s a little less shiny and new now. But I think the spotlight on Delaware is only going to intensify from here on out.
VIEWPOINTS
Redefining energy with hydrogen innovation Solving problems is relatively easy; identifying the right problem to solve is where Andrew Cottone the true challenge lies. For decades, the clean hydrogen industry has pursued the wrong objectives—chasing commercial adoption targets without fully considering the intertwined realities of economics, science, and community impact. Aternium changes the paradigm. We offer a model capable of redefining Delaware’s economic landscape through the production of clean, low-cost hydrogen. Contrary to conventional wisdom, the world is not experiencing an “energy transition,” but rather energy addition. Global energy demand continues to rise, and hydrogen is poised to become an essential part of the long-term solution. Hydrogen delivers nearly three times more energy per unit mass than carbon-based fuels. And it is the most abundant element in the universe. The laws of physics all but ensure the emergence of hydrogen as a major global energy source. Many nations— including Saudi Arabia, India, and
China—are already investing heavily in hydrogen as a strategic pillar of their future economies. Aternium’s approach is not driven by ideology, climate doctrine, or carbon rhetoric. Instead, we’re focusing on expanding and diversifying America’s energy options by leveraging hydrogen’s inherent advantages—anchored in market discipline rather than government subsidies. Today, the United States lags behind other countries in hydrogen development and supporting infrastructure. Delaware and the broader Mid-Atlantic region can change that trajectory by adopting the Aternium model. A key differentiator for Aternium is an additional revenue stream unmatched anywhere in the Western world: the parallel production of clean hydrogen along with patent pending isolation of heavy water/deuterium, the latter of which allows us to simultaneously address a critical U.S. materials vulnerability. So, what is heavy water and why should you care? Ordinary water (H₂O) consists of two hydrogen atoms and one oxygen atom. Aternium’s process of splitting water into hydrogen gas and oxygen gas
also provides a third product: heavy water. Heavy water (D₂O) contains two deuterium atoms—a stable, naturally occurring hydrogen isotope with an additional neutron. Formed minutes after the Big Bang 14 billion years ago, deuterium is present in all of us today—typically 4–6 grams per person. For industrial uses, this extra neutron imparts physical properties that enhance a wide range of advanced technologies. Despite the fact that heavy water is critical across numerous nonnuclear industries, the United States relies almost entirely on shrinking Canadian reserves. New production of heavy water is currently limited to facilities in China, Russia, Iran, and India. This harsh reality represents one of the most significant supplychain risks facing the U.S. today in high-tech and strategic sectors. Aternium’s ability to produce a supply of domestic heavy water will strengthen America’s supply chain across energy, electronics, communications, and pharmaceuticals. Today, deuterium-enhanced products outperform their non-deuterated analogs by a factor of 2–4 in durability, environmental resilience, and overall
performance. America cannot afford inferior materials or an overreliance on adversarial suppliers that have an established history of economic weaponization. So here is an example where economics and everyday experience intersect. Consider hydrogen-powered transportation. According to multiple sources, Toyota’s hydrogen-fuel-cell Mirai cars can hold 5.6 kg of hydrogen with a driving range of 320-402 miles. However in California the current cost of hydrogen is roughly $36 per kilogram, which equals more than $200 for a single fill-up. Aternium solves this economic barrier. By integrating hydrogen production with heavy water extraction and optimizing the system around the correct variables, we are poised to bring hydrogen to market at $5–$6 per kilogram. Suddenly, a clean-burning Mirai becomes a viable vehicle: filling the entire tank will only cost about $34. This is the environmentally sound and financially sensible reality Aternium is uniquely positioned to deliver. Andrew Cottone, Ph.D. is Founder and CEO of Aternium.
How to build Delaware’s workforce for the future The First State’s economy is constantly impacted by technological, demographic, and market Scott Malfitano changes. The Delaware Workforce Development Board navigates these changes and is steadfast in our mission. That mission is simple: prepare Delaware’s workforce for the jobs of today and tomorrow and invest taxpayer dollars with purpose and accountability. We are driven by a focus on strengthening our state’s talent pipeline and ensuring every public dollar invested creates meaningful opportunities for Delawareans and measurable results for employers. This approach led to strengthening our deliverables over the past several years in ensuring training leads to real jobs with lasting careers, and that our state’s talent pool is focused on developing the skills and knowledge employers need. Changes made include:
• Reconstituting a strong statewide Workforce Board with knowledgeable members concentrating specifically on the growth industries that are vital to our state’s economy, including construction, manufacturing, and healthcare. • Working with Governor Matt Meyer to establish the new Office of Workforce Development. • Forging deeper partnerships with employers and requiring the upskilling and training programs. • Adopting a rigorous data-driven and analytical approach to investing federal and state workforce funds. • Working to help launch and grow innovations such as the University of Delaware Lerner co-op program that attracts and retains talent in our state and most importantly creates a bridge between Newark and our businesses Just like the job seekers and employers we serve, we have found that success breeds more success. Still, we
know that resting on past plans is not an option if we wish to keep growing and improving Delaware’s workforce. Encouragingly, Delaware sees unprecedented opportunities across multiple industries, but discouragingly, it also faces (as do many states) critical workforce shortages in the specific skills needed in those industries. At the same time, and somewhat ironically, the state has undergone a “flip” as unemployment jumped by 8,000 individuals in just the last year. These seemingly contradictory challenges are just two sides of the same coin. They highlight the ongoing need for urgent and coordinated action to successfully increase the number of Delawareans who possess the indemand skills and experience. The Board is responding by: • Identifying new opportunities and coordinating an investment of up to 15% (nearly $1 million) from the federal Workforce Innovation and Opportunity Act funding resources in statewide initiatives the board tracks as new and innovative.
• Continuing our emphasis on datadriven results by requiring those we fund to track and report results of individuals entering a training program and how these programs partner with businesses. • Expanding and elevating the visibility, opportunity, and adoption of apprenticeships. Because apprenticeships provide paid training, industry-recognized credentials, and direct placement into careers that Delaware employers urgently need, they are a proven model for building a strong, sustainable workforce. Delaware’s workforce challenges are real, but so is our momentum. With continued partnership across education, business, and community organizations – and, importantly, state government – we can build a system that delivers for everyone. The Board stands ready to lead this work. Scott Malfitano is a vice president of CSC and the chair of the Delaware Workforce Development Board.
MARCH 3, 2026 / DELAWARE BUSINESS TIMES 19
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