Delaware Business Times 7-21-26 by Today Media

July 21, 2026 | Vol. 13 • No.14 | $4.00 | DelawareBusinessTimes.com

DELAWARE’S

DIGITAL DIVIDE Will federal millions close southern Delaware's internet gaps? 10-11

COLLEGE SITES READY:

SHOWTIME:

SMART PLANNING:

Lawmakers direct millions to UD, DSU projects

Freeman Pavilion unveils $43M upgrade

Kent County preps Data Center regulations

SEEING RESULTS:

VIEWPOINT: Treasurer Candidate

Carvertise, Azira deal

Smith writes

to measure marketing

about the need for

impact

watchdogs on the

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WHO'S INSIDE Founded 2014, printed bimonthly, serving Delaware’s business community

Alyson Cunningham ...................6

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GROUP PUBLISHER Robert F. Martinelli rmartinelli@todaymediainc.com EDITOR Katie Tabeling ktabeling@delawarebusinesstimes.com ASSOCIATE EDITOR Jennifer Antonik jantonik@delawarebusinesstimes.com RESEARCH, DIGITAL, AND ENGAGEMENT COORDINATOR Sabrina Wade swade@delawarebusinesstimes.com DIRECTOR OF DIGITAL SALES Karen Martinelli kmartinelli@todaymediainc.com DIRECTOR OF DIGITAL STRATEGY & CLIENT SUCCESS Mike Rocheleau mrocheleau@todaymediainc.com

Aternium .................................12 Azira ........................................13 Bob Older ................................11 Carvertise ................................13 CJ Bell .......................................5 Connor Perry ...........................10 Delaware Alliance for Nonprofit Advancement .............6

Delaware Prosperity Partnership ................................9 Delaware Small Business Chamber ...................11 Delaware State University ..........5 Delmarva Digital ......................11 DSM Commercial ......................8 Freeman Arts Pavilion ................6 Glenn Gauvry ...........................12 Gov. Matt Meyer ............... 5, 9, 11

Delaware Broadband Office .....10

Harvey Hanna & Associates .......8

Delaware Department of Technology & Information ........10

IQ Fiber ....................................11

Delaware Division of Small Business .......................5

Joshua M. Freeman Foundation ................................6

Jordan Seemans ........................8

Kent County Levy Court ............12 Mac Macleod ...........................13 Mansion Farm Inn ......................8 Melissa Hopkins ........................6 Mercantile Processing, Inc. ......10 Monique Claiborne Cardwell ......9 Patti Grimes ...............................6 Starlink ....................................11 Techno Goober ..................10, 11 The Parker Group ......................8 Thomas Harvey III ......................8 Tony Allen ..................................5 University of Delaware ...........5, 6 White Clay Creek Golf Course .....8

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INDEX

MARKETING DIRECTOR Kate Schlegel MARKETING MANAGER Andrea Hill

At a Glance..........................................................4

News Briefs.......................................................15

Industry Updates..............................................5-9

Business Leads..................................................16

Special Section: Construction....................... 10-13

Calendar............................................................17

The List..............................................................14

Viewpoint..................................................... 18-19

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ON THE COVER Thousands of small businesses in southern Delaware are still struggling with internet connectivity. The state is still waiting for millions of dollars to be released from the federal government to address the issue. PHOTO COURTESY OF ADOBE STOCK

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JULY 21, 2026 / DELAWARE BUSINESS TIMES 3

Population, 2025:

194,786

AT A GLANCE

Median Household Income, 2020-2024:

$74,477 Population with a bachelor’s degree or higher, 2020-2024:

27.5%

Delaware’s Smallest County

KENT COUNTY

Median Gross Rent, 2020-2024:

$1,354

The First State holds the title of having the fewest counties in the nation—just three—and Kent County is the smallest based on population. The county is home to the state capital, Dover Air Force Base, and a diverse agriculture economy. Kent County's largest employment sectors include healthcare, government, and manufacturing. While Sussex County is Delaware's leading tourism destination, Kent County is home to several major attractions, including Bally's Dover Casino Resort, Dover Motor Speedway, Bombay Hook National Wildlife Refuge, and the DE Turf Sports Complex. Together, these destinations draw thousands of visitors each year.

Median Value of Owner-Occupied Housing, 2020-2024:

$316,600 Unemployment, May 2026:

4.6%

Source: U.S. Census, Delaware Department of Labor Photo courtesy of Adobe Stock

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GOVERNMENT

Lawmakers direct funds to college projects By Katie Tabeling DOVER —Delaware’s multimillion capital budget for Fiscal Year 2027 includes $10 million for the Site Readiness Fund, but that money will be allocated to two specific projects instead of waiting for pending applicants. In epilogue language in the Bond Bill, legislators included language that directs the allocation of Site Readiness Funds to both University of Delaware and Delaware State University. The $10 million is split between the two institutions and outlines $5 million for UD to use for “redevelopment of student and workforce housing on the Daiber Campus,” as well as infrastructure at southern facilities. DSU would also receive $5 million for stadium improvements on top of already allocated funds. The Bond Bill already includes $10 million for “Stadium Improvements Phase 2.” This year is the first time that lawmakers directed the Site Readiness Fund to be allocated to specific projects since it was created in 2021. As of June 1, there was $10 million remaining in the fund after

some approved projects did not spend their grants while other applicants had sold their land, according to the Division of Small Business. UD is directed to use the Site Readiness Funds for redevelopment of the Franklin C. Daiber Residence Complex in Lewes into a workforce and student housing project. The facility has 28 three-bedroom and 2 two-bedroom, ranch houses for graduate students, visiting professors and scientists as well as faculty.

WILMINGTON — The Delaware Division of Small Business is creating a new grant program for businesses out of some of the money Incyte Corporation has returned for its abandoned headquarters project. The state is launching the Delaware Commercial Corridor Initiative, a grant program for small businesses that would help fund minor renovations and equipment purchases through local financial institutions. The Division of Small Business would provide up to a 25% match alongside a partner bank or CDFI.

New laws welcome stablecoin in Delaware By Katie Tabeling WILMINGTON — Gov. Matt Meyer signed three bills that made Delaware one of the first states to regulate cryptocurrency establishing Delaware as a state open to a new and controversial currency. Meyer signed Senate Bills 16, 18 and 19, which collectively creates a framework for stablecoin companies to charter and operate in the First State. Banks and federal credit unions can now hold and manage digital assets and virtual currency for customers in Delaware under SB 16. It also allows the Delaware Banking Commissioner the ability to charter institutions with

Delaware State University has received $15 million for stadium improvements at its Dover campus in the state's Bond Bill. The University of Delaware also received millions for a "workforce development housing" project. | DBT PHOTO BY KATIE TABELING

Incyte refund fuels new small business grant By Katie Tabeling

In Dover, DSU plans on using its $5 million from the Site Readiness Fund for “stadium improvements,” bringing the university’s total to $15 million for its upgraded athletic complex. In the past two years, the state’s sole Historically Black University has been campaigning for state funds to build a new field house.rooms. Last year, the university received $20 million for the project from state legislature. This year, DSU President Tony Allen also sought funds to replace home side stadium seats, add professional media infrastructure for live streaming video, as well as a VIP suite, catering kitchen and more.

The state would contribute up to $25,000 for each application with final awards determined on a percentage basis. Delaware Division of Small Business Director CJ Bell said

“This program addresses the missing middle. I think this is a very unique opportunity to help brickand-mortar businesses throughout the state.” CJ BELL Director, Delaware Division of Small Business

a narrow set of business compared to a full-service bank. Under SB 19, the Delaware

that this program is designed to assist existing businesses that may be struggling to get equipment or get one major project done. “I’ve been on record about this: we do a great job of helping startups and some of our larger corporations. This program addresses the missing middle. I think this is a very unique opportunity to help brick-andmortar businesses throughout the state,” Bell said. Businesses eligible must be in a qualifying commercial corridor which is defined as adjacent to the Downtown Development District or commercially zoned corridors and in key areas of the state’s 2025 Strategies map. Businesses must be in the Level 1 or 2 investment area, which are municipalities, cities or suburban clusters that are rapidly growing.

Banking Commissioner is now responsible for issuing licenses to cryptocurrency companies that take in the form of stablecoin which is tied to the U.S. dollar. These crypto companies must hold assets between $5 million and $10 billion. To ensure the financial institution’s safety, these companies must have 12 months of operating expenses on the books and the ability to back every transaction to the dollar with cash, deposits or other highly liquid assets outside of crypto. SB 18 also updates existing regulations for crypto exchange or money-transmitter companies to operate in Delaware, modernizing the rules for how money can be transferred in the digital age.

JULY 21, 2026 / DELAWARE BUSINESS TIMES 5

NONPROFITS

Freeman Arts opens after $43M upgrade By Jennifer Antonik SELBYVILLE — The Freeman Arts Pavilion is gearing up for an exciting summer season with a new perspective as it unveils the final pieces to its $43 million campus transformation. Years of phased construction and more than two decades of growth have culminated in the Joshua M. Freeman Foundation’s new and improved set up. Retiring Executive Director Patti Grimes said was designed to strengthen Sussex County's economy as much as its arts scene. “This is a week of celebrating a 20-year journey,” founder and board chair Michelle Freeman said while taking members of the press on a tour of the new 4,000-seat outdoor performance venue July 6 alongside Grimes and Marketing Manager Alyson Cunningham. “This is a public trust,” Freeman added. “This is about the community. This is about Delmarva at large.” The Freeman Arts Pavilion has become a major cultural and economic driver for southern Delaware, supporting more than $18 million in annual spending across the Sussex County economy, according to a 2023 study by the University of Delaware Institute for Public Administration. The study went on to state that for

every $1 spent by the pavilion, $2.12 in economic activity is generated locally. The site sees more than 10,000 annual guests with visitors from all over the country. Resting on the same 5.3-acre campus owned by the foundation since 2021 that has since seen musical greats such as Diana Ross and local artists like the First State Ballet Theatre, the newly updated space features expanded amenities, upgraded production technology and spaces uniquely designed with artists in mind. “What this is really about is creating opportunities that elevate the human spirit,” Grimes said during the tour. “We're in the experience business.” The final phase, soon to be revealed to the public, includes a dramatically expanded performance venue featuring 2,700 reserved seats and room for approximately 1,300 lawn guests. The previous capacity of the venue was about 2,700 seats in a more confined space; the new space increases the total capacity to roughly 4,000 visitors. New features include wider concourses, ADA-accessible seating throughout the venue, elevated viewing areas overlooking nearby conservation land and Bayside Resort

DANA names longtime exec. its next leader organization in April for an executive role at Beebe Healthcare She was WILMINGTON — Melissa encouraged to apply by the board Hopkins, a longtime executive of for the position during the search the Delaware Alliance for Nonprofit committee process. Advancement (DANA), has She started the position been named its next leader. on June 1. Hopkins was named DANA Board Chair DANA’s new president and Kathleen Hawkins said CEO by the organization’s that Hopkins’ years of board of directors after experience working in contracting with executive Delaware’s nonprofit Melissa Hopkins firm Lambert & Associates sector, including the past to start a nationwide search after nine years with DANA, made her an longtime CEO Sheila Bravo left the ideal person to lead the alliance as

By Katie Tabeling

62 DELAWARE BUSINESS TIMES / JULY 21, 2026

Freeman Arts Pavilion Retiring Executive Director Patti Grimes says the newly transformed venue will continue to support Sussex County's economy. | DBT PHOTO BY JENNIFER ANTONIK

Golf Club. The venue also includes upgraded lighting and sound systems, backstage loading facilities and a new boardwalk connecting gathering spaces throughout the campus. The Freeman Arts Pavilion also introduces “The Grove,” a food truck village designed to encourage patrons to arrive earlier and remain on site before and after performances while offering engagement opportunities to local businesses. The campus also features partnerships with Delaware favorites including Fisher's Popcorn and Hometown Creamery, as well as a new collaboration on a specialty beer from Dogfish Head Craft Brewery. New York-based theater architecture firm Steinberg Hart designed the performance venue, while Delaware architectural firm StudioJAED created the campus'

amenity buildings, including the box office, concessions, bars and restroom facilities. Those buildings feature green roofs and durable, wood-look exterior materials intended to blend with the surrounding coastal environment. Construction also prioritized operational improvements for touring productions. Backstage, the facility now includes three loading docks and some equipped with hydraulic systems, replacing what staff jokingly described as years of relying on “tents and trailers.” The venue incorporates modern production technology, including robotic spotlight systems that replace operators working from elevated lifts and delay speaker towers that improve audio quality for lawn seating.

it begins its fifth decade of serving the community. In an interview with the Delaware Business Times, Hopkins said that while she had been preparing in her own downtime for a possible executive position, she still had nerves about the job. “I’m really excited but nervous, as I think anybody stepping into a leadership role would be. You don’t want to let the people you’re fighting for down,” she said. DANA is Delaware’s top organization to build, support and enhance the various nonprofits throughout the state. It offers professional training, professional development and consulting services for its 500 members, as

well as other benefits like health insurance options. It’s also the primary advocate for nonprofits in Delaware when it comes to state grant-in-aid dollars and contracted services. Delaware nonprofits offer services for local government and are paid at below market rate and those contracts typically are not adjusted for inflation when renewed. At a time when federal passthrough dollars have been severely cut back and the state is contending with its own budget issues, nonprofits are struggling to figure out what the future holds; DANA will continue to be a guiding force in that conversation.

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In the Heart of it All Central Delaware is a place where momentum meets opportunity. New businesses are opening their doors, neighborhoods are expanding, and our tourism offerings invite visitors and residents to experience the culture, history, and hospitality that make our region thrive. Whether you’re looking to grow a business, put down roots, or explore something new, there’s always a place for you in Kent County, Delaware!

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Kent County Levy Court

Parks & Recreation | Marriage Licenses Kent County Library | Building Permits Public Works | Public Safety Economic Development 555 Bay Rd. Dover, DE 19901 (302) 744-2300 @KCLevyCourt www.KentCountyDE.gov

Kent County Tourism (Visit Central Delaware) drives economic impact through visitor spending and is a free resource for all tourism partners throughout the county. (302) 734-4888 435 N. DuPont Hwy. Dover, DE 19901 info@visitcentraldelaware.com @VisitCentralDE www.VisitCentralDelaware.com

The CDCC is your opportunity hub! Relevant | Engaged | Trusted (302) 734-7513 435 N. DuPont Hwy. Dover, DE 19901 www.cdcc.net | info@cdcc.net

JULY 21, 2026 / DELAWARE BUSINESS TIMES 7

COMMERCIAL REAL ESTATE

Harvey Hanna buys Middletown site By Katie Tabeling MIDDLETOWN — Harvey Hanna & Associates has bought a 103-acre development site for $25.3 million from EQT Real Estate in its first major deal south of the C&D Canal. The land along Jamison Corner is approved for 1.3 million square feet of industrial and warehouse space across three buildings not far from the U.S. Route 301 interchange. The largest of these warehouses is planned to be 600,000 square feet of institutional-grade distribution facilities, with 40-inch ceilings. The two other buildings each are slated for 358,750 square feet and 316,200 square feet, respectively. Newmark had advertised the property as Scotts Run Commerce Center, and Newmark represented EQT in the deal. A Harvey Hanna & Associates spokesperson confirmed that the firm plans to follow through on the approved plan. “The site represents an opportunity to bring a highquality Class A commercial project to a growing area while responsibly utilizing an already entitled property,” Harvey Hanna & Associates Government Affairs and Community Relations Manager Jordan Seemans said in an email.

“Our company has built its reputation on responsible redevelopment, quality construction, and long-term investment in the communities where we live and work. We look forward to delivering a project that contributes positively to the region,” Seemans added. Harvey Hanna & Associates is a Newport-based commercial redevelopment firm that owns and manages more than 4 million square feet of industrial, commercial and retail space. Its largest redevelopment deal in Delaware is the former General Motors site on Boxwood Road, which the firm laid the foundation

MILTON — A historic bed-andbreakfast in Sussex County has been listed for sale, offering a potential opportunity for a new owner to continue its hospitality business or convert it into a private estate. The Mansion Farm Inn, located at 26285 Broadkill Road near Broadkill Beach, is on the market for nearly $1.3 million. Originally built in 1810, the historic property has been a bed and

82 DELAWARE BUSINESS TIMES / JULY 21, 2026

White Clay Creek Golf Course sold for $3M By Katie Tabeling WILMINGTON — The White Clay Creek Golf Course sold for $3 million and its new owners have seen solid bookings in its first month. New Castle County Property records show that the 18-hole championship course was sold to White Clay Creek Real Estate LLC in May. DSM Commercial broker Alicia Fox represented the buyer in the transaction, according to social media posts. The White Clay Creek Golf Course abruptly closed at the beginning of the year; members were told that the country club was working on options to find a new owner. The property was listed for sale, noting that the 64-acres of land was subdivided for development, though it could retain the golf course as a component for mixed-use development.

Scotts Run Commerce Center, seen here in 2025 marketing materials, is approved for warehouse and industrial space, through it's unclear what configuration it will take. | DBT COURTESY OF NEWMARK

Mansion Farm Inn hits market for $1.3M By Jennifer Antonik

for Amazon to build its largest distribution site in the state. The firm has been quietly reorganizing itself to prepare itself for the next chapter of growth in the last year. Harvey Hannah & Associates CEO and Chairman E. Thomas Harvey III has named his three sons to be managers in the firm, and has brought in veteran executive John Fannin to top leadership. Fannin has recently transitioned to executive advisor to the company’s board of directors, after serving a year as president. Back in 2025, Harvey told the Delaware Business Times that realigning the company’s executive team would pave the way for longterm success and aggressive growth. The acquisition of Scotts Run Commerce Center would raise Harvey Hannah & Associates’ land portfolio by 25%.

breakfast for years, welcoming guests to its restored farmhouse and grounds just a few miles from the Delaware coast. Prior to becoming a bed and breakfast, the property was home to the Robbins’ family who helped support Milton's early agricultural economy encouraging the growth of local canneries while creating jobs. The original home was expanded between 1860 and 1909, according to the business website. During the 1930s, it also

Right before the course was sold, White Clay Creek Course publicly announced it would reopen on May 8. The course is under new management

became home to what was then Delaware's largest mail-order holly wreath business, helping establish Milton's reputation as the "Holly Capital of the World." The property was added to the National Register of Historic Places in 2013. The 4,299-square-foot property sits on approximately 1.6 acres and includes four bedrooms, five bathrooms, multiple outbuildings and a renovated barn. The listing highlights amenities including a saltwater pool, landscaped gardens and guest suites with fireplaces and en-suite bathrooms. The property is listed by The Parker Group.

as well and has parted ways with Kemper Sports instead of relying on in-house staff to manage operations. The course opened 20 years ago and has been a popular destination, in part because it was designed by famed golf course architecture duo Arthur Hills and Steve Forrest. It spans 7,007 yards of fairways and greens. The course has five different tee placements on each hole and golfers of all abilities can have an enjoyable experience. In addition to the course, White Clay Creek Country Club has a 40,000 square-foot club house and other amenities like The Rail Bar and Grill.

ECONOMIC DEVELOPMENT

Greater Portland Inc. leader named next DPP CEO By Katie Tabeling

had the experience to deliver on his vision of Delaware’s innovation WILMINGTON — After an economy which includes focusing aggressively-paced search, the on technology and life science-based Delaware Prosperity Partnership has companies as well as startups. named Monique Claiborne “Monique Claiborne Cardwell as its second Cardwell brings the president and CEO. experience, vision and She will join the office on collaborative approach Sept. 14. to help us attract new Cardwell is a nationally investments, support the Monique recognized economic businesses that already call Claiborne development leader with 20 Delaware home and position Cardwell years of experience leading our state for long-term public-private partnerships, including economic growth,” the governor five years as the CEO of Greater said in a prepared statement. “I Portland Inc. Her resume also look forward to working with her to includes positions as chief financial ensure Delaware remains the best officer and strategic advisor for place in the country to start, scale Detroit where she advised businesses and succeed in business.” about local incentives and location Notably, Cardwell has been strategy. Cardwell’s career started in positioned as a turnaround investment banking. leader. Her official biography with Greater Portland Inc. describes Gov. Matt Meyer said that Cardwell

her as someone who stabilized the organization and rebuilt confidence among stakeholders and built relationships with Oregon’s legislature. During her time in Detroit, she played a role in leading the city in post-bankruptcy financial recovery efforts. Cardwell holds a master’s degree from University College London and has traveled to more than 50 countries; she has also participated in site selector conferences like SelectUSA. Cardwell will be leading the DPP into its next era, as the public-private partnership will be entering into its 10th year in 2027. Since the state moved to a partnership model, the state has changed its playbook in marketing the state for major companies and small businesses. Taking guidance from the DPP’s first CEO Kurt Foreman, Delaware unveiled a suite of taxpayer-backed

grants to help attract prospects for site improvement, job creation and retention and building out lab space. The office also serves as a concierge for existing and interested businesses that are considering Delaware for operations. The DPP runs several site selector databases and works closely with county and local officials when a prospect has questions about an area and its workforce. When Foreman departed at the end of 2025, the DPP launched a national search and hired executive search firm Jorgenson Pace Inc. to help. The DPP Board also formed a search committee led by Zip Code Wilmington Executive Director Desa Burton who told the Delaware Business Times she was committed to naming the next executive by the end of the second quarter.

JULY 21, 2026 / DELAWARE BUSINESS TIMES 9

XSPECIAL SECTION: KENT COUNTY

Delaware's Digital Divide Will tens of millions in federal funding fill the gaps?

By Maddy Lauria Contributing Writer When Casey Fitzgerald onboards a new downstate customer, one of the first things she does is an internet speed test. “If the business doesn’t pass, we have to try to help them find a better solution,” said Fitzgerald, relationship manager for a Millville-based Mercantile Processing, Inc. At least half are usually good to go. A few might need to upgrade their plans to faster speeds. But she estimates that around one out of 10 of the credit card processor’s customers she works with don’t have the internet speeds needed to conduct basic business functions, like processing payments in today's digital world. It’s not just about the existence of infrastructure. It’s also about stability and reliability of available connections, said Steven Gebbia, chief information officer at Techno Goober,

a Milton-based web developer and IT services company. He works with customers across Sussex County that vary in ease of access. There are some businesses along the Route 9 corridor, for example, that almost never have any internet issues. “Go a mile off of that, and they lose connection for 10 to 20 minutes every single day,” he said. Gebbia compares the pressure to that from a firehouse: “Every time you have a new house or a new business or a new neighborhood, you’re pulling off that fire hydrant. There’s only so much pressure to go around.” As the population grows rapidly in southern parts of the state, Fitzgerald and Gebbia suspect that might be making matters worse. “Not only is the service not there for the last mile, but these lines have been in place for 20 years,” said Fitzgerald. “Out of this much population growth, what are we doing to make sure people can get adequate

102 DELAWARE BUSINESS TIMES / JULY 21, 2026

How fast internet speeds are can be a make it or break it for small businesses in Delaware, and there's several in rural pockets of Kent and Sussex County that struggle. There may be hope that millions in federal funding could solve the issue. | PHOTO COURTESY OF ADOBE STOCK

internet service that doesn’t cut out when it’s Fourth of July weekend and everyone is at their vacation home?” Over the last decade, as state officials have sought to bring highspeed internet to the most rural reaches of the First State, experts have focused on where, not necessarily who, is still struggling to get online. “The plan is to connect everybody we can possibly reach,” said Connor Perry, executive director of the Delaware Broadband Office, a state agency housed within the Delaware Department of Technology & Information that aims to ensure all Delawareans have high-speed internet access. He said Delaware is “one of the best connected states in the country,” and shared a recent analysis that ranks the First State third in the nation for broadband speeds. Some $27.8 million

in federal funding, roughly one-third of the total available through the federal Broadband Equity, Access, and Deployment (BEAD) program, is now being spent to close the gap on a few thousand “last mile” locations still lacking broadband infrastructure. But what will happen with the nearly $80 million left in BEAD program funding for Delaware remains to be seen. Perry said his office is waiting on guidance from the Trump administration regarding how the rest of those dollars can be spent. Much of what’s been spent so far, aside from operational and planning expenses, has gone toward the state’s subcontractors, Verizon and Comcast. Along with $75 million in matched funding from those companies, Perry said they are installing the broadband infrastructure needed to connect

SECTION: KENT COUNTY X XSPECIAL 4,728 residences and businesses across the state that are considered “last-mile” customers. Most of those “remote or hard-toreach” locations — 59% or 2,790 — are in Sussex County, with another 1,153 in Kent and just over 400 in New Castle County. Perry said the BEAD program doesn’t differentiate between customers, and could not provide information on how many of those connections will serve Delaware businesses. Buildouts must be completed within four years. Reaching a home along a long, dirt driveway in western Sussex or a home-based business on the outskirts of Smyrna will have profound effects for those who have been lacking reliable connectivity for years. But these last-mile expansions may not address some of the current challenges small businesses might be grappling with in some of the fastestgrowing and most-visited parts of southern Delaware, from lagging speeds along Rehoboth Avenue in downtown Rehoboth Beach, outages on the fringes of western Sussex, or even dead zones along Coastal Highway at the height of summer. “We’re in 2026,” said Fitzgerald, who lives in Lewes. “If I want to unplug, that should be my choice, not because the internet service is out again because we got a heavy rain.”

A local business perspective In the meantime, small businesses in southern Delaware are turning to Starlink’s satellite service or banking on IQ Fiber’s planned $150 million expansion to help backfill strains on existing resources. When providers don’t proactively upgrade equipment and the infrastructure comes as a second thought — whether that infrastructure is internet cables, electrical wires, roadways or even sewer plants — population growth is going to continue to strain outdated systems. “In recent years with Starlink coming out and becoming more available, that has been a godsend,” Fitzgerald said, adding that wireless services that can work for mobile businesses like food trucks have also offered a workable solution.

Those are exactly the kind of back-up services Techno Goober recommends for clients who might not have the strongest broadband connections available. “Otherwise they might have to close their door for the day,” Gebbia said, noting that they often recommend having a back up. He said the millions being spent by the state is “a good start,” but that it may not be enough.

“What are we doing to make sure people can get adequate internet service that doesn’t cut out when it’s Fourth of July weekend and everyone is at their vacation home?” CASEY FITZGERALD

Relationship Manager, Mercantile Processing Inc.

“There are places in the Greenwood area that are still on dial-up,” Gebbia said. Relying on such outdated technology might leave that business in a lurch for days or longer if the lines go down. Professional-based services, like HVAC technicians, might be totally out of business if their internet goes down, since everything from phone calls to scheduling to work orders and directions to the next job rely on being connected to the internet. That can present a huge issue for small businesses trying to stay competitive, said Delaware Small Business Chamber President and Founder Bob Older. “Up until several years back, highspeed internet access was a luxury,” he said. “Now it’s a necessity. ” Leveling the playing field Laurel-based Delmarva Digital has had a totally different experience. The custom software developer has been in business longer than Google, and despite being based in one of the most rural reaches of the state, CEO Tim Smith said he has never had any trouble connecting to the internet. That’s because when the company launched 1997, he knew investing in technological solutions to bring high-

speed internet would be part of his business costs along the way. “We knew what there was to work with, and we worked with it,” he said, recalling the earliest days of dial-up that were soon replaced by broadband options in the 2000s. Now, the infrastructure is plentiful, but not all businesses have the advanced, high-security, proprietary connections that are required for building webbased platforms for other businesses, governments and nonprofits like Delmarva Digital does. “If we want to grow in lower Delaware, we absolutely have to make connectivity part of that strategy,” said Older with the Small Business Chamber. “It’s not a technology issue, it’s a small business survival issue.” As Florida-based internet provider IQ Fiber plans its own growth of business, its $150 million private investment into building new internet infrastructure in Delaware could help both causes. The company has already broken ground in Kent and Sussex counties as part of an effort to add 4,000 miles of connectivity to the existing mix of infrastructure in over a dozen southern Delaware municipalities over the next 18 to 24 months. “We’re coming in with the best speeds that are out there right now,” said IQ Fiber’s Dee Anna Sobczak. “This is huge for Sussex County to be able to support that growth.”

BY THE NUMBERS

1,153

"Hard-to-reach" Kent properties for broadband

2,790

"Hard-to-reach" Sussex properties

Sobczak, the company’s senior vice president of market development and government relations, declined to say how many customers IQ Fiber currently services or how many are already online in Delaware. IQ Fiber’s expansion into Delaware, as well as the last-mile infrastructure supported by BEAD funding, are also benefitting from Gov. Matthew Meyer’s executive order to streamline permitting processes. IQ Fiber’s was

the first project application accepted through the new JobsFirst program. “We have been welcomed by the governor into the State of Delaware like no other,” Sobczak said, adding that being part of the accelerator program has also meant weekly meetings with the governor’s office. “From our perspective, it’s everything we were hoping that it would be.”

Millions in funding pending Five years ago, when experts identified some 11,600 Delaware homes and businesses that still lacked adequate internet access, they noted another gap in the state: The skills needed to actually use the technology. While most survey respondents said they had the skills to perform basic online tasks like accessing online banking, 33% said they would like access to more training opportunities. A more recent report released in 2023 found the BEAD program’s investment could create new jobs that would require more digitally savvy workers. Perry said the remaining program funding could offer an opportunity for skills-based training. “We know that delivering technology to people and hoping for the best is not a full-fledged response,” Perry told Delaware Business Times. “We want to make sure people have the tools to use this technology safely and understand how it can be used to improve their lives. In addition to the $107 million in BEAD funding potentially available, the state previously allocated another $33 million in American Rescue Plan Act funding to expand broadband access, working with Verizon, Comcast and Mediacomm to install those lines. While the federal funding available doesn’t differentiate between residential and business-based needs, Older with the state’s Small Business Chamber said the state’s tourism economy and the small businesses supporting it rely on that connectivity for survival. “Small businesses don’t need to have special treatment, but they do need a level playing field,” he said. “We have infrastructure in this state that’s kind of outdated, and that makes it hard for a new business [to keep up with] changing times.” JULY 21, 2026 / DELAWARE BUSINESS TIMES 11

XSPECIAL SECTION: KENT COUNTY

Kent County moves to regulate data centers By Jennifer Antonik DOVER — The data center boom hasn't reached Kent County — yet. But county officials want the rules in place before one arrives. The Kent County Regional Planning Commission unanimously recommended in early July the adoption of zoning ordinance LC2606 which would formally define where data centers may be built while establishing standards intended to address potential impacts such as noise, buffering and setbacks. The proposed ordinance would add data centers as a defined use within Kent County's zoning code, permitting them in Limited Industrial and General Industrial zoning districts while being subject to a series of development standards. Regional Planning commissioners, appointed by Kent County Levy Court commissioners, said the changes are intended to mitigate impacts while protecting nearby communities.

Limited Industrial and General Industrial zoning districts lie in pockets around the county, including locations in Harrington, Hartly, Felton, Milford, Dover, Cheswold and other spots. Commissioners said the ordinance is designed to give the county a regulatory framework before future proposals are considered, rather than respond after development plans are submitted. They described the ordinance as a proactive effort to establish local regulations before data center projects begin moving through the county's review process. “Without the code change that we made tonight, we really wouldn't have any tools to do much of what you were concerned about,” Commissioner Glenn Gauvry said during public comment. “Now we have those tools.” Delawareans have already weighed the potential impacts of a data center in New Castle County near Delaware City. Project Washington, a proposed 1.2-gigawatt data center campus, has

Aternium mulls Dover after zoning approval By Jennifer Antonik DOVER — Dover is positioning itself to compete for investment in the emerging clean hydrogen industry as one Delaware startup considers opening its first facility in the state’s capital. The Dover City Council unanimously approved adjusting its zoning code on July 13 to allow for clean hydrogen production facilities in manufacturing (M), industrial park manufacturing (IPM), business and technology center (IPM-2) and industrial aviation and aeronautics center (IPM-3) districts. Aternium, a clean hydrogen manufacturing startup founded by Andrew Cottone spoke with council members throughout the process. He told council members that

122 DELAWARE BUSINESS TIMES / JULY 21, 2026

“Aternium is really excited to be able to launch in Dover.” At this stage, Aternium would be the first clean hydrogen production facility in the First State and it won’t be the last – Cottone’s business has property prospects around Delaware, New Jersey and in Delaware County, Pennsylvania.

“I think the city council saw an opprotunity to be first with something that's responsible to the enviroment with a business like Aternium...” ANDREW COTTONE

Founder, Aternium

Kent County Levy Court Regional Planning Commissioners are recommending a path forward for data centers. | DBT PHOTO BY KATIE TABELING

drawn scrutiny over its projected electricity demand, reliance on hundreds of backup diesel generators and potential environmental impacts, prompting state regulators earlier this year to deny an air quality permit. Opponents says such facilities require significant electrical infrastructure and often generate concerns related to energy consumption, cooling systems, water usage and nearby residential impacts. Regional planning commissioners also discussed low-frequency noise and vibration generated by cooling equipment. Planning staff said the proposed ordinance addresses Clean hydrogen is produced by using electricity to separate water into hydrogen and oxygen rather than relying on fossil fuels. It can be used as a cleaner fuel for heavy transportation and manufacturing, as well as in industries such as fertilizer and chemical production. State leaders have viewed the initiative as an opportunity to attract new manufacturing, energy and infrastructure investment while helping decarbonize industries that already rely on hydrogen. Aternium has been at the forefront of Delaware's push into the emerging hydrogen economy and plans to produce hydrogen using renewable electricity and water through electrolysis, supplying industrial customers with lower-carbon fuel while also producing deuterium for advanced manufacturing applications.

those concerns through setback requirements, buffering and noise attenuation standards. Although no data center proposal is currently pending before Kent County, the ordinance drew public opposition from several residents during the meeting's public comment period. Melissa Wernersbach of Dover urged officials not to encourage data center development, arguing the facilities increase electricity demand while providing relatively few permanent jobs. “There is nothing good for people that live here to be provided by data centers,” she said. Aternium has been developing plans for a roughly $1 billion network of clean hydrogen and heavy water plants. The startup plans include several future locations across the Mid-Atlantic with construction on its inaugural project targeted to begin in early 2027. The company has recently engaged various firms to support its mission, including selecting Kiewit Engineering Group for preliminary engineering, Siemens Energy for front-end engineering and design, and CH-IV International as owner's engineer. The excitement remained for Cottone a day after the meeting when he told DBT that the move will open up future opportunities. “I think the city council saw an opportunity to be first with something that's responsible to the environment with a business like Aternium that is responsible. . . and it can be really a catalytic industry,” he said.

MARKETING

Carvertise signs on data firm to sharpen focus By Katie Tabeling WILMINGTON — Carvertise has rolled out a new partnership with location data firm Azira as the company enters what CEO Mac Macleod says is its third chapter. The partnership will enable Carvertise to see the impact of tourism boards, travel brands and destination marketing organizations, specifically looking to see whether the advertisements are influencing people to visit those destinations. “The big question at home with campaigns is ‘What impact is this having?’ Campaigns are like funnels, you bring in billboards, buses and radio and print. But what’s moving

makes this partnership special is they’re essentially geo-fencing the entire area and capturing robust data to see that impact.” Azira specializes in data intelligence and uses trillions of location signals through its patented artificial intelligence learning model to analyze it for companies. Among the data that Azira studies is mobile devices like smartphones which

been looking for while building onto

with Azira for Visit Fort Worth in

an existing deal with Street Metrics

Kansas City found that 2,600 people

which is collecting the GPS data from

who were exposed to the campaign

the cars.

visited the city which generated an

Carvertise pays drivers, usually rideshare drivers, to wrap their cars

spending.

in advertisements thus creating moving marketing campaigns for

BY THE NUMBERS

clients. To date, campaigns have

2,600 people

included larger companies such as Netflix, Wawa and DraftKings,

Exposed to Azira test campaign

as well as tourism agencies, often

$835,000

sending many wrapped cars to high-

In estimated consumer spending

attendance events like conferences or sports games. Macleod said that customers these

In the last month, Carvertise

have unique device identification

days are looking for how to measure

has landed projects with Visit

numbers, allowing the company to

a marketing campaign’s reach, going

Pennsylvania and West Virginia’s

track whether the smartphone user

beyond a marketing campaign’s

Department of Tourism to run Azira

visited a location after seeing a digital

impressions. Destination marketing

studies.

advertisement. All the data collected

organizations are looking for ways to

“This is showing us a stronger and

and analyzed is anonymized.

quantify reach, and looking for direct

stronger correlation of that activity.

consumer patterns is one of those

It’s the data you actually need to start

ways they do.

making smarter decisions on where

Macleod said the partnership

the needle?” Macleod told the

with Azira fills the missing piece

Delaware Business Times. “What

of what Carvertize customers have

A May campaign run by Carvertise

estimated $835,000 in consumer

to invest,” Macleod said.

DoubleTree Hilton, King St., Wilm., DE • 5:30-8:00 p.m For sponsorship information, please contact 302.656.1837 • Advertising@DelawareBusinessTimes.com

JULY 21, 2026 / DELAWARE BUSINESS TIMES 13

THE LIST

KENT COUNTY EMPLOYERS Ranked by number of Kent County Employees RANK

# KENT COUNTY EMPLOYEES

# DELAWARE EMPLOYEES

SENIOR EXECUTIVE(S)

FOUNDED

(302) 744-4101 delaware.gov

11,894

41,663

Matt Meyer (Governor)

1787

(302) 674-4700 bayhealth.org

3,792

5,132

Terry M. Murphy (President & CEO)

1925

COMPANY

CONTACT

State of Delaware 150 MLK Jr. Blvd. S. Dover, Del.19901

Bayhealth 640 South State St. Dover, Del.19901

AT THE TOP

MATT MEYER Governor

Chesapeake Utilities 500 Energy Lane Dover, Del.19901

(800) 427-2883 chpkgas.com

Caesar Rodney School District 7 Front St. Wyoming, Del.19934

(302) 698-4800 crk12.org

1,111

Delaware State University 1200 N. Dupont Highway Dover, Del.19901

(302) 857-6055 desu.edu

1,021

1,261

Jeff Householder (President & CEO)

1859

Alma Mater: Brown University, University of Michigan Since 2025

194,786 1,111

Corey Miklus (Superintendent)

1915

Kent County population estimate as of July 2025, per U.S. Census.

1,041

Tony Allen (President)

1891

4.6% Kent County unemployment rate as of May 2026, per Delaware

Capital School District 198 Commerce Way Dover, Del.19904

(302) 672-1500 capital.k12.de.us

875

Victoir Cahoon (Superintendent)

1919

Smyrna School District 82 Monrovia Ave. Smyrna, Del.19977

(302) 653-8585 smyrna.k12.de.us

680

Deborah Judy (Superintendent)

1883

Department of Labor.

5.1% Delaware unemployment rate as of May 2026, per DDOL.

Milford School District 906 Lakeview Ave. Milford, Del.19963

(302) 422-1600 milfordschooldistrict.org

455

Travis Moorman (Superintendent)

1899

Lake Forest School District 5423 Killens Pond Road Felton, Del.19943

(302) 284-3020 lf.k12.de.us

437

Steven Lucas

1969

Woodbridge School District 16359 Sussex Highway Bridgeville, Del.19933

(302) 337-7990 wsd.k12.de.us

360

Kevin Long

1967

Kent County Levy Court 555 Bay Road Dover, Del.19901

(302) 744-2305 kentcountyde.gov

316

Kevin Sipple (County Administrator)

1655

Delaware Technical Community College 1832 North Dupont Highway Dover, Del.19901

(302) 857-1000 dtcc.edu

306

1,015

Mark T. Brainard (President)

1966

Our upcoming lists include:

Dover Air Force Base 442 13th St. Dover, Del.19902

Sussex County Employers (8/4) (302) 677-3000 dover.af.mil

N/A

Col. Jamil Musa (Commander)

1941

Source: Information for Delaware Business Times' lists are either generated through public sources or supplied by individual organizations through questionnaires. We assume that informatio provided by company representatives is accurate and truthful.

Colleges and Universities (8/18) Wealth Managers, Financial Advisors (9/1) Professional Services (9/15) If your organization should be on one or more of these lists email swade@delawarebusinesstimes.com

142 DELAWARE BUSINESS TIMES / JULY 21, 2026

NEWS BRIEFS

Nonprofits and For Profits

working together!

For more coverage of these stories, visit DelawareBusinessTimes.com

DON’T MISS OUT ON THE CHANCE TO SHARE YOUR MISSION WITH READERS IN PRINT ONLINE, AND AT EVENTS THROUGHOUT THE YEAR

National search leads Easterseals to hire next CEO from within

After conducting a months-long national search, Easterseals Delaware & Maryland’s Eastern Shore has selected one of its own to lead the organization into its next chapter. The nonprofit announced that Chief Operating Officer Pam Reuther will become its next president and CEO beginning in September, succeeding Ken Sklenar who is retiring after 13 years at the helm. The appointment follows what board leaders described as a rigorous national search led by executive search firm Dunleavy & Associates. Founded to serve people with disabilities, seniors and caregivers across Delaware and Maryland’s Eastern Shore, Easterseals provides children’s therapies, adult day programs, employment services, respite care, senior services and recreational programming.

Kristen Latham is excited to bring Dough Bar & Vine to Milford, a rebranded concept of the Milton Dough Bar. | DBT PHOTO BY JENNIFER ANTONIK

Dough Bar & Vine: Local gem gets new look in Milford

FACES OF

Philanthropy

If you ask Kristen Latham what food means to her, she’ll say, “relationships,” and she’s about to start a new one in the heart of Milford as she and her husband Marc bring their popular Dough Bar concept to the two-county city. After nearly a decade building eateries in Milton, the couple is betting their next chapter lies a few miles north at 28 S. Walnut St. as Dough Bar & Vine. The rebranded business will offer an expanded menu beyond the gourmet pizza concept that helped establish the business. Dough Bar & Vine will offer a broader dining destination centered on artisan sandwiches, wine and an elevated menu. The downtown site was most recently occupied by the Farmacy Market, which moved to 301 NE Front St. next to Fur Baby Pet Resort.

Incyte completes acquisition of Vega Therapeutics for $2B

Incyte has completed its acquisition of Vega Therapeutics, a subsidiary of Star Therapeutics. The acquisition adds VGA039, a medicine for von Willebrand disease (VWD), the most common inherited bleeding disorder, to Incyte’s hematology portfolio. “With the acquisition complete, VGA039 adds one of the most promising late-stage hematology assets in development to our portfolio. As a potential first-in-class therapy, VGA039 is a strong strategic fit with our hematology franchise and expands our presence into bleeding disorders,” Bill Meury, Incyte CEO, said. “Our priority is to advance the Phase 3 program, and we look forward to partnering with our talented new colleagues from Vega to progress VGA039 through clinical development.” Incyte has acquired all outstanding shares of Vega Therapeutics for $1.25 billion upfront. Star Therapeutics will be eligible to receive up to $750 million in additional payments upon the achievement of sales milestones.

Walter Sellers, founder of The Butterfly Effect Studio, came out on top of the 13th annual pitch competition. | PHOTO COURTESY OF NEW CASTLE COUNTY CHAMBER OF COMMERCE/NICHOLLS PIERCE COMPANY

Applications open for Swim with the Sharks competition

Applications are now open for the Emerging Enterprise Center’s 14th Annual Swim with the Sharks Pitch Competition, hosted by the New Castle County Chamber of Commerce’s Emerging Enterprise Center. New Castle County entrepreneurs are invited to compete for a $25,000 grand prize grant, along with additional cash awards and business services designed to help launch and grow their ventures. The competition finale will take place on Wednesday, September 16, 2026, at 4:00 p.m. at Penn Cinema. The Shark Tank-style competition will accept applications through Monday, Aug. 10, 2026, at 11:59 p.m. EDT.

2026

Pamela Reuther has spent her entire 32-year career with Easterseals after starting in 1994 as a physical therapist. | DBT PHOTO BY LUIGI CIUFFETELLI

Delaware Business Times is proud to publish its annual Giving Guide, a comprehensive resource highlighting philanthropic opportunities across the region. The guide helps Delaware nonprofits raise awareness, strengthen community connections, and reach influential business leaders who are passionate about making a difference. Each profile features the organization’s mission, community impact, volunteer and giving opportunities, key statistics, and leadership team. Publish date: Nov 3 Space Reservation Deadline: Sept 21 Ads due: Sept 28 Amplify a Giving Guide ad with Faces of Philanthropy Ask your Account Executive for more information. Corporate sponsorship opportunities also available.

Call 302.656.1837 or email Advertising@DelawareBusinessTimes.com

JULY 21, 2026 / DELAWARE BUSINESS TIMES 15

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BUSINESS LEADS REAL ESTATE TRANSACTIONS Source: Local Recorders of Deeds

NEW CASTLE CO.

June 16, 2026 | Vol. 13 • No.12 | $4.00 | DelawareBusinessTimes.com

Middletown Senior Living Partners to 820 Middletown Road Propco; 820 Middletown Odessa Road, Middletown 19709; $37,824,000

July 7, 2026 | Vol. 13 • No.13 | $4.00 | DelawareBusinessTimes.com

Mark Brainard

Nordstrom, Inc. to Dick's Sporting Goods, Inc.; 100 Christiana Mall, Newark 19702; $8,791,075

GROWING PAINS in Sussex

CEO & C-Suite Awards

Del Tech President named DBT's Milestone CEO. Meet the 2026 top executives 13-24

IN THE AIRPORT:

WORLD CLASS:

GLASGOW HQ:

Agilent lands TSA contract

Ivory Coast soccer team stays in Wilmington

Sepax Technologies plans big site

OLD IS NEW:

VISA & MAIN:

Dover to turn post office

Bank delivers advice

into mixed-use

to start-up companies

De bat e co n t in ues on sl ate of l an d use ord in a n ces

PRIMED FOR PRIME TIME:

TOP OF THE CLASS:

SCALING SOLAR:

AirJoule ready to debut large-scale product

DBT unveils its 40 under 40 Class of 2026

ECA Energy plans four projects across state

ON THE MARKET: FMC plans $114M deal to sell Newark campus

IN THE C-SUITE: Bancroft Construction CEO Mike Petka charts new course

2026

THE FIRST STATE’S MOST IMPACTFUL LEADERS

DELAWARE TOP 18 INDUSTRIES

TOP 50 DELAWARE EMPLOYERS

Delaware 222 2025.indd 1

11/19/25 12:39 PM

Hertrich Properties to Dellbelle Newark 1; 285 E Cleveland Ave., Newark 19711; $6,900,000 Silverbrook Cemetery Company to Gracelawn Memorial Park; 3300 Lancaster Pike, Wilmington 19805; $2,700,000

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162 DELAWARE BUSINESS TIMES / JULY 21, 2026

Stephen Silver to Jean Stack; 1601 Coastal Highway, Bethany Beach 19971; $1,789,000 Barry Construction Services to Retreat at Bayside; 206 Bay Front Road, Milton 19968; $1,700,000

Derek & Rebecca Abbott to Colin Rice & Leah Yi; 1626 Snuff Mill Road, Hockessin 19707; $1,645,000

David & Denise Johnson to Colleen & John D'Albora; 419 Kekites Ave., Bethany Beach 19930; $1,665,000

HBC Developers to Bryan Ward, Jr.; 129 Ayshire Drive, Middletown 19709; $1,134,475

Schell Brothers to William III & Elisa Evans; 30539 Lightkeepers Way, Selbyville 19975; $1,662,503

NVR, Inc. to Shanesha Butler ; 1113 Spyglass Hill Way, Wilmington 19808; $1,000,275

Kathleen Metzger to Alan & Susan Rosenberg; 33889 Greensome Court, Lewes 19958; $1,650,000

SB Monarch to Jon & Lisa Kaufmann; 821 Cambridge Circle, Middletown 19709; $991,400

EVG - County Ventures to Bradford & Mitchelle Glazier; 669 Tingle Ave., Bethany Beach 19930; $1,646,845

Red Knot Farms to Forestar (USA) Real Estate Group; Red Mulberry Ave., Magnolia 19962; $694,800

Includes:

Steven & Carol Tunney to Jennifer Mosier & Catherine Gray; 26320 Crosswinds Landing, Selbyville 19975; $1,795,000

Marrows Road Associates to BCI 1352; 1352 Marrows Road, Newark 19711; $2,500,000

Elizabeth Troyer to Joseph Byler; 3557 Bryants Corner Road, Hartly 19953; $810,000

$50 | DelawareBusinessTimes.com

Schell Brothers to Nikolaus, Jr. & Krista Kasper; 30729 Keepers Walk, Selbyville 19975; $1,855,300

Tamarack Land & Mitchell's Corner to K. Hovnanian at Mithcell's Corner; 11730 Shrewsbury Terrace, Lewes 19958; $1,686,000

KENT CO.

DELAWARE’S PREMIER BUSINESS RESOURCE BOOK

Shannon Smith to Scott & Mindy Lucas; 32014 Baywind Walk, Selbyville 19975; $2,085,000

SUSSEX CO. DRP Multistate 1 to Beazer Homes; 28454 Reef Drive, Selbyville 19975; $4,469,579 Thalia Properties to Brent & Mary Lewis; 322 York Road, Bethany Beach 19930; $3,450,000 Timothy Ferry to Steven & Jayne Dellose; 208 Salisbury St., Dewey Beach 19971; $3,260,000 Pamela & Phyllis Price to Mary & Allison Gray; 39674 Heron Road, Bethany Beach 19930; $2,845,000

EVG - County Ventures to Shaun & Elizabeth Bromley; 667 Tingle Ave., Bethany Beach 19930; $1,633,024 Sand Hill to D.R. Horton, Inc.; 135 Equinox Drive, Milton 19968; $1,590,000 Barbara Ronca & Francie Tai to Cynthia Hogue; 41243 Gloucester Drive, Rehoboth Beach 19971; $1,580,000 Fowled Up Farms to Warraich Farm; 25455 Tadpole Path, Laurel 19956; $1,541,800 Oyster House Homes to Charles & Michele Wenzel; 20398 Blue Point Drive, Rehoboth Beach 19971; $1,515,000 SB Old Mill Bridge to Steven, Sr. & Carol Tunney; 36442 Bunting Drive, Frankford 19945; $1,478,201

DP Multistate 1 to Beazer Homes; 21081 Blue Jay Drive, Selbyville 19975; $2,730,037

K. Hovnanian's Four Seasons at Scenic Manor to Barbara Ronca & Francie Tai; 34613 Scenic Harbor Way, Lewes 19958; $1,476,537

22 Tidewater Road to Siddharth Tiwari & Rajni Ohri; 7 Harbor Road, Rehoboth Beach 19971; $2,670,000

Schell Brothers to William Boileau; 30730 Keepers Walk, Selbyville 19975; $1,450,000

James & Cynthia Work to Susanna & Chima Dike; 154 Anchorage Drive, Bethany Beach 19930; $2,500,000

Frank & Elizabeth Holder to RMSCORNWALL; 135 Cornwall Road, Rehoboth Beach 19971; $1,425,000

BUSINESS CALENDAR Unless otherwise noted, webinar access details (including dial-in information) will be e-mailed to registrants. Dates and times subject to change.

AUGUST 5 5:30 PM - 7:30 PM Shining Light Awards The Delaware Breast Cancer Coalition will host the 2026 Shining Light Awards to celebrate the exceptional individuals and organizations whose innovation, advocacy, and generosity advance the fight against breast cancer across the Greater Delaware region. For more information, visit web.dscc.com/atlas/events.

AUGUST 6 5:00 PM - 9:00 PM Best of Delaware The Best of Delaware Party is a lively event that celebrates excellence and supports worthy local causes. This highly anticipated party of the summer features winners from our annual readers’ poll, who use the night to showcase why they earned their Best of Delaware titles. For more information, visit delawaretoday.com/events/best.

SEPTEMBER 12 10:00 AM - 4:00 PM Bethany Beach Boardwalk Arts Fest The Bethany Beach Boardwalk Arts Fest is hosted annually the Saturday after Labor Day where more than 100 juried artists – both local and from around the country – display their works of are in downtown Bethany Beach, where the beach is the backdrop. For more information, visit bethanybeachartsfestival.com.

SEPTEMBER 17 5:30 PM - 8:00 PM DBT 40 Under 40 DBT40 Awards —a celebration of the region’s most dynamic young professionals under 40 who are driving impact through intelligence, initiative, and innovation. The special celebratory event honors the DBT40 Class, composed of rising stars making their mark in business and the community. For more information, visit delawarebusinesstimes.com/ events/dbt40.

OCTOBER 8 8:30 AM - 1:00 PM Developing Delaware: Conversation, Collaboration, Innovation Join business leaders, policymakers, and community stakeholders for a data-driven discussion on Delaware's competitive position. Explore key issues impacting the future—including energy reliability, availability, and affordability; housing; and fiscal stability—while examining opportunities to strengthen our state's economic outlook. For more information, visit web.dscc.com/atlas/events.

NOVEMBER 12 Partners in Philanthropy Delaware Business Times will spotlight up to 10 standout philanthropic champions—often partnerships between for-profit businesses and nonprofit organizations—that are making a meaningful difference in our community. Partners in Philanthropy honors these collaborations: the businesses that choose to invest – the nonprofits delivering meaningful change on the ground, and the shared commitment that turns generosity into measurable results. The application deadline is August 14. For more information, visit delawarebusinesstimes.com/partnersphilanthropy.

DECEMBER 3 & 9 11:00 AM - 2:00 PM Women of Influence Do you know a woman who doesn’t just succeed—but sets the standard for what success looks like? A trailblazer, a builder, a leader who lifts others as she rises? Nominate her for Delaware Today’s 2026 Women of Influence awards (formerly branded Women in Business). This is more than an honor—it’s a platform to celebrate influence, vision, and lasting contributions. For more information, visit delawaretoday.com/events. JULY 21, 2026 / DELAWARE BUSINESS TIMES 17

Your View Delaware Business Times reader commentary policies Op Ed Columns We also welcome guest columns on topics of interest to our readers. Columns should be no longer than 500 and 650 words, and concern topics of interest to our readers.

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VIEWPOINT

Wall Street’s SpaceX fast pass should worry Delaware Most people do not spend their day thinking about index fund rules, and Wall Street Michael A. counts on that. Smith However, those rules help decide what millions of Americans own in their retirement accounts, college savings plans, and long-term investments. When they change quietly, regular people can end up carrying risks they never knowingly chose. That is why Delaware’s next State Treasurer should care about the SpaceX IPO. For decades, index funds have been sold to working families and retirees as simple, low-cost, long-term investments. You put money into a 401(k) or a college savings plan, and it flows into funds that track major indices. The promise is designed to be relatively simple: broad exposure, clear rules, less guesswork. So when Wall Street rewrites those rules to fast-track a trillionaire’s IPO, it does not just change a technical standard. It weakens the foundation that made index funds work for regular people in the first place. Traditionally, a newly public company had to clear basic safeguards before entering a major index. A

seasoning period made it trade publicly for a while, so the market could see how the stock behaved once the IPO excitement faded. A public float requirement made sure enough shares were actually available to trade, because when only a small amount of shares are public, automatic buying by index funds can push the price up on scarcity alone, not strength of the company. In the run-up to the SpaceX IPO, major index gatekeepers built a faster lane. Nasdaq changed its rules so a mega-IPO like SpaceX could enter the Nasdaq-100 after just 15 trading days. FTSE Russell added a fast-entry rule allowing large IPOs into U.S. indexes after as few as five trading days. Instead of waiting for a company to build a real public record and prove its liquidity, these rules can pull it into retirement funds almost immediately. S&P Dow Jones Indices went the other way. In early June, it announced it would not loosen eligibility for the S&P 500 or its midcap and small-cap indexes, keeping its viability, seasoning, and float tests in place. That decision shows the old guardrails still serve a purpose. SpaceX has exactly the limitations those rules were built to catch: it is newly public, its trading history is short, its valuation is enormous, and its public float is limited. When a

182 DELAWARE BUSINESS TIMES / JULY 21, 2026

company with few available shares is pushed into major indexes, passive funds must buy it anyway, creating automatic demand that can look like real strength even when it is not. This is no longer a hypothetical. Funds tracking the broad Russell indexes — the kind at the core of target-date funds — were forced to buy in late June. On July 7, every fund tracking the Nasdaq-100 followed. Billions of dollars of priceblind demand arriving all at once.

Let's be clear: access without protection is not empowerment, it is risk transfer. We have seen this playbook before. The language of “access” and “innovation” keeps getting used to justify loosening guardrails, first to push private equity and crypto into retirement plans, now around mega-IPOs and index funds. Let’s be clear: access without protection is not empowerment, it is risk transfer. The Treasurer’s office is not ceremonial. It manages the state’s investments, banking, debt, and

savings programs. Delaware families save for college through 529 plans. Workers rely on deferred compensation. Delawareans with disabilities build security through ABLE accounts. Those dollars should not be treated as automatic demand for Wall Street’s newest product. Delaware’s Treasurer should not view returns in a vacuum. The job is to ask what risk is hidden inside products sold as safe, simple, or inevitable, and whether Delaware’s workers, retirees, students, and taxpayers are protected. I studied economics and finance because I wanted to understand how these systems really work: the fine print, the fees, and the rules written in rooms working people never see. I am on the side of families whose savings are quietly put at risk. As Treasurer, I will bring that scrutiny to every decision involving public money. When Wall Street says “innovation,” I will ask who benefits. When insiders say “access,” I will ask who carries the risk. Delaware’s money should never be a backstop for hype. It must work for the people of this state, not Wall Street. Michael A. Smith is an economic analyst and Democratic candidate for Delaware State Treasurer.

VIEWPOINTS

Here's why Delaware's new film tax credit is a win For years, Delaware has watched neighboring states attract film and TJ Healy television productions while our talented workers, local businesses, and unique communities missed out on the economic opportunities those productions bring. With the creation of a Delaware film tax credit, that is beginning to change. This isn’t simply about Hollywood. It’s about Delaware jobs. When a film or television production comes to a community, it spends money immediately. Local electricians, carpenters, painters, caterers, hotel employees, truck drivers, equipment rental companies, restaurants, security firms, florists, dry cleaners, and countless small businesses all benefit. Productions

hire local talent whenever possible and purchase goods and services from the communities where they film. A successful film incentive program creates a ripple effect throughout the economy. Every production brings hundreds of workers, fills hotel rooms, supports local restaurants, and showcases communities that can attract future tourism and investment. For a state the size of Delaware, even a handful of major productions each year can have a meaningful economic impact. Delaware has long possessed what filmmakers seek: beautiful beaches, charming historic towns, thriving urban centers, scenic farmland, and locations that can double for communities across America—all within a short drive. Until now, however, Delaware lacked the competitive incentive necessary to persuade productions to choose the First State over neighboring states.

The new film tax credit changes that equation. It also sends an important message that Delaware is open for business and ready to compete in the growing creative economy. Beyond production jobs, the incentives can encourage investment in studios, post production services, workforce development, and educational opportunities for young Delawareans interested in careers in film, television, and digital media. This achievement did not happen by accident. It required leadership and a willingness to think creatively about Delaware’s economic future. Governor Matt Meyer, Sen. Tizzy Lockman, and Rep. Kerri Harris, Rep. Mike Smith deserve huge props for making the film tax credit part of Delaware’s economic development agenda and recognizing the opportunities it can bring to our state.

Their work demonstrates that bipartisan economic development is still possible when leaders focus on creating opportunities for workers. The passage of Delaware’s film tax credit is just a beginning. The next step is ensuring the program is marketed aggressively so producers know Delaware is ready and open for business. Success will ultimately be measured not by the legislation itself, but by the jobs created, the businesses supported, and the economic activity generated across our state. Delaware has taken an important step toward diversifying its economy and creating new opportunities for its citizens. And as the saying goes, “lights, camera, action – Delaware!” TJ Healy is the chairman of the Motion Picture & Television Development Commission.

Gov. Meyer must act on $40M opportunity for students A new Federal Scholarship Tax Credit (FSTC) program could direct nearly $40 million Nancy Mercante annually in private educational funding to Delaware students if just 15% of eligible taxpayers participate, according to an analysis by Education Reform Now (ERN). The scholarships could help students pay for tutoring, tuition, transportation, summer programs, and other educational services. Under federal law, Delaware students can benefit from the program only if Delaware chooses to participate. The IRS has made clear that states must elect to participate and identify eligible Scholarship Granting Organizations before taxpayers can receive the credit for contributions made within that state. To ensure Delaware students can benefit when the program begins in 2027, Gov. Matt Meyer will need to opt Delaware into the program. If he does not, Delaware students would be ineligible to receive these scholarships. Delaware taxpayers, however, could still claim the federal tax credit but the funds

they redirect would have to go to scholarship organizations in other participating states. At a time when many families struggle to afford the extra support their children need, Governor Meyer should seize this opportunity. Delaware spent more than $2.7 billion on public education during the 2023-24 school year, yet many students continue to struggle academically. According to the National Assessment of Educational Progress (NAEP), Delaware student achievement remains below prepandemic levels, and significant achievement gaps persist between higher and lower performing students. When a child falls behind in school, parents often seek additional help. They incur out-of-pocket costs for tutoring and summer learning programs. Students with learning challenges may need more specialized services than are covered under current laws. Many families also pay out of pocket for tuition, transportation, enrichment activities, and athletics. For many households, those costs are simply unaffordable. The FSTC program is straightforward. If Gov. Meyer

opts Delaware into the program, Delaware taxpayers would be able to voluntarily redirect up to $1,700 of their federal tax liability annually to an approved Scholarship Granting Organization (SGO) and receive a dollar-for-dollar federal tax credit. Any eligible taxpayer may participate, whether or not they have children. Rather than sending up to $1,700 to the IRS general fund, taxpayers would be able to direct those dollars toward educational opportunities for Delaware students. The SGO would then award scholarships to eligible families. It’s that simple. Approved SGOs determine eligibility and award scholarships under federal rules and oversight. The program is designed to be accessible to a broad cross-section of middle-class families, enabling many Delaware families to qualify. The program’s greatest strength is its flexibility. Rather than funding institutions, it helps students. Families may use the scholarship funds for eligible educational services that best meet their children’s needs The benefits could be especially meaningful for lower-income and working-class families. They

often have the greatest need for supplemental educational support but the least resources to pay for it. The program could also help vulnerable students. Foster children, homeless students, and others facing significant challenges could receive services tailored to their individual needs. Opting into this program would be a practical step toward addressing those challenges. It would bring millions of dollars in additional educational support to Delaware students without increasing state spending or reducing public-school funding. The question before Delaware is straightforward: Should Delaware students and families have access to millions of dollars in additional educational support, or should that opportunity be missed and instead go to students in states that choose to participate? That decision now rests with Gov. Meyer. Nancy Mercante is the director of the Center for Education Policy at the Caesar Rodney Institute and Founder and President of Citizens for Delaware Schools. JULY 21, 2026 / DELAWARE BUSINESS TIMES 19

From answering the call to joining the celebration

20k

10k

$2MM

veterans hired since 2015

more to be hired by 2031

donated in FIFA World Cup 2026™ tickets

We’ve proudly been serving communities around the country for 240 years. Here in Delaware, we have an ongoing commitment to the veterans who make us stronger — helping them access careers, transition programs, housing, and now unforgettable experiences like FIFA World Cup 2026™ tickets.

What would you like the power to do? ®

Learn more at BofA.com/Celebrating250 Tickets provided through Veteran Tickets Foundation (Vet Tix), a 501(c)(3) nonprofit. Availability is limited and subject to eligibility, registration, verification and Vet Tix/1st Tix terms. Bank of America is a promotional sponsor of FIFA World Cup 2026™. Ticket figures are based on Bank of America’s June 3, 2026 announcement; military hiring figures are based on its September 17, 2025 announcement. Image is illustrative and has been digitally enhanced using artificial intelligence. Equal employment opportunity for persons with disabilities and veterans. ©2026 Bank of America Corporation. All rights reserved.

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