Detailed Review of Delaware’s Economy
The state of Delaware has a sizable agricultural sector, especially livestock, and is one of the largest producers of poultry in the USA. Potatoes, fruit and fishing are also important sectors.
Delaware’s industrial activity is mainly located in Delaware Bay and covers the following sectors: chemicals, textiles, automotive, agri-food and plastics.
Delaware is especially well-known as a leading tax destination, due to a very advantageous tax system for both companies and individuals. Because of this 500 of the wealthiest people in the US and 43% of companies listed on the New York Stock Exchange are domiciled in the state.
Delaware’s Economic Strengths
- The state is part of the United States.
- Proximity of major metropolises.
- Creation of simplified stock company.
- Ideal for entry to American markets.
Delaware’s Economic Weaknesses
- Demanding market.
- Strong competition.