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Delaware Business Times
New loan program aims to help minority-owned small businesses
DOVER – Del-One Federal Credit Union, the largest credit union in the state, is teaming up with the Delaware Black Chamber of Commerce (DEBCC) to give minority- and women-owned businesses a fair shot at securing loans. DEBCC Founder and President Ayanna Khan worked with Del-One FCU to create the...
Synnovation Therapeutics launches with $102M
WILMINGTON – A precision oncology startup based out of the Experimental Station in Wilmington has emerged with $102 million financing last week. Synnovation Therapeutics, led by CEO Wenqing Yao, completed Series A funding round led by Third Rock Ventures. The investment also included funds from Nextech, Lilly Asia Ventures, Sirona Capital and Cormorant Asset Management. The funding will advance Synnovation’s clinical and preclinical pipeline for two drugs, SNV1521 and SNV4818, among other programs.
Wilmington buys Gibraltar mansion for $900K
WILMINGTON – The city of Wilmington purchased the Gibraltar mansion for $900,000 on Jan. 25 to preserve the historic 6-acre estate. “For too long, well-intended neighbors and other interested parties have not been able to see eye-to-eye on what to do with this property, but everyone seems to agree on one thing—Gibraltar should not be allowed to further deteriorate,” Wilmington Mayor Mike Purzycki said in a press release.
Delaware chef earns sole 2024 James Beard nod
FENWICK ISLAND — Third time’s the charm for One Coastal chef and owner Matt Kern as he was once again nominated for the James Beard Foundation awards. This is Kern’s third nomination to the prestigious food award program, and he is the only nominee from Delaware. It’s also his first as a restaurant owner, as he and his wife, Karen, bought famous farm-to-table restaurant One Coastal in Fenwick Island in 2022.
WilmU breaks ground on law school at Brandywine campus
BRANDYWINE – Wilmington University symbolically broke ground Thursday on its new law school and a convocation center that will also serve as home to the university’s Criminal Justice Institute at its Brandywine campus off U.S. Route 202. “When I saw the bulldozers on site this morning I got...
People on the Move: Jan. 26
People on the Move is a rundown of recent hirings, promotions, appointments and other notable movements by professionals in the state. If you’re interested in submitting an entry, please contact news@delawarebusinesstimes.com. Winterthur Museum, Garden & Library named Kirk Trasborg the chief financial officer. Chris Strand, Charles F. Montgomery director...
Gov. Carney proposes $6.1B budget for FY 25
DOVER — Headed into his final months in office, Gov. John Carney proposed on Thursday a measured spending plan with a $6.1 billion Fiscal Year 2025 operating budget, representing a year-over-year increase of 8.45%, along with $943 million in bond-funded and multi-year capital improvement projects. With the General Fund operating budget, bonded projects, grants-in-aid to.
VIEWPOINT: Delawareans deserve a second chance at earning a high school diploma
Governor John Carney and his administration deserve credit for eliminating some of the biggest hurdles that have prevented Delawareans from obtaining gainful employment in our state government. For those who missed the news, the Delaware Department of Human Resources recently announced it would no longer require a bachelor’s degree as...
Down Syndrome Association opens new office in Milton
MILTON – The Down Syndrome Association of Delaware will open a new office in Milton on Jan. 25 to expand services in Sussex County. “We offer services to families throughout the entire state, but this is exciting news because we will be able to reach more of our members more easily and locally in Sussex County,” Down Syndrome Association of Delaware Executive Director Lauren Camp Gates said.
Greater Wilmington tourism rebounds with conventions, sports
WILMINGTON — With business travel still slow, the Greater Wilmington Convention & Visitors Bureau has seen conventions and sports tourism return strong in the last year. The GWCVB Operational Highlights report for Fiscal Year 2023 highlights a $4.3 million in estimated economic impact for all room nights booked with the organization’s support. Measured by data.
VIEWPOINT: Homeownership should be prioritized this year
As we turn the page to 2024, one aspiration resonates deeply across Delawareans: the dream of owning a home. Yet, for many, this dream remains frustratingly out of reach, choked by a lack of housing supply, rising housing costs, and a tightening financial landscape. In this critical year, the Delaware legislature has a unique opportunity to make homeownership a reality for more of our residents, and doing so should be a top priority in their agenda.
Cellergy Pharma receives $300K grant for cell therapies
WILMINGTON — Cellergy Pharma, a rising cellular therapies biotechnology company, has been awarded $300,000 to fuel the development of therapies to treat severe allergic diseases. The two-year old company was awarded funding from National Institute of Allergy and Infectious Diseases earlier this month to develop CAR-T cell therapies. Cellergy...
Dewey Beer opens new Denver taproom
DEWEY BEACH — Dewey Beer Company is opening a new taproom in Denver, Colo., marking its fourth location and first expansion out of Delaware. The new location, at 3501 Delgany Street, will have a soft opening on Jan. 25. “We love the beer community in Colorado and the outdoors...
State government workforce aligns with population
DOVER – Delaware’s workforce closely aligns with the state’s population, minorities represent 39% and women represent 52% of the state’s workforce, according to a report released Jan. 12. The Delaware Department of Human Resources Division of Diversity, Equity, and Inclusion issues its annual Equal Employment Opportunity/Affirmative...
Dole expands Port of Wilmington service
WILMINGTON — Dole Food Company has added a second vessel service to the Port of Wilmington, growing its capacity of shipping tropical fruits from bananas, pineapples, dragon fruit, mangoes and limes coming to the United States. The new weekly service includes two shipping container vessels — MV Robin-2 and...
Bidens make breakfast stop at Egg again
REHOBOTH BEACH — As snow blanketed northern Delaware and parts of Washington D.C., President Joe Biden and first lady Jill Biden opted for a weekend at the Delaware beach, including a breakfast stop at Egg in Rehoboth Beach. The Bidens dined for roughly an hour on Sunday at the...
DelawareCAN to host school fair for K-12 students
WILMINGTON – DelawareCAN, an education nonprofit, will host a school fair in Wilmington on Saturday, Jan. 27 at Goldey-Beacom College’s Event Center for K-12 students as part of the National School Choice Week. The school fair will provide K-12 students and their families with information on diverse job...
Aldi to open Concord Pike location
TALLEYVILLE — Aldi is continuing its expansion in Delaware, this time with NAI Emory Hill closing a 10-year lease with the German grocer earlier this week for a shuttered Ashley Furniture Homestore off the U.S. Route 202. The more than 33,200 square-foot Class C building at 4130 Concord Pike...
People on the Move: Jan. 19
People on the Move is a rundown of recent hirings, promotions, appointments and other notable movements by professionals in the state. If you’re interested in submitting an entry, please contact news@delawarebusinesstimes.com. Realta Wealth “Realta”, a wealth management firm formerly known as CoastalOne, named Mark Helliker as chief operating officer....
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