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Delaware Business Times
WSFS to consolidate Wilmington wealth, trust offices
WILMINGTON – Two years after acquiring Bryn Mawr Trust and combining its own wealth management operation with the well-established brand, WSFS Bank is consolidating several of its leased operation centers in the Wilmington area. WSFS recently signed a lease for 30,989 square feet in the Bellevue Park Corporate Center between Philadelphia Pike and Carr Road,
Delaware Ronald McDonald House Charities in need of volunteers
WILMINGTON – Ronald McDonald House Charities of Greater Delaware (RMHCD) in Wilmington needs volunteers to provide comfort to families of children undergoing treatment at local hospitals. The Delaware chapter of the national charity has been in a “rebuilding phase” since the COVID-19 pandemic, and getting community members to commit...
i.g. Burton Auto donates $150K to Beebe
LEWES – i.g. Burton Auto Group donated $150,000 to Beebe Medical Foundation for the Family Medicine Residency Program at the R. Randall Rollins Center for Medical Education. Once fully staffed, the program will facilitate a minimum of 7,000 additional primary care appointments each year for the community. “I have...
Is Tax-Exempt Financing Right for Your Nonprofit?
Nonprofit organizations are not immune to the current financial challenges. An often-underutilized tool to help with these challenges is tax-exempt financing. Whether your organization is a health system, residential healthcare or senior housing facility, or another nonprofit organization outside of the healthcare space, there are options to explore that should fit your needs.
FICO expands data, AI program to DSU
DOVER — Delaware State University has become the latest higher learning institution to team up with global analytics software leader FICO on an innovative data analytics program that tests the limits of artificial intelligence. FICO launched the educational analytics challenge in September to offer students at historically Black colleges...
Is a Group Captive the Right Solution for Your Company?
As insurance premiums continue to rise in this inflationary environment, many companies have adopted alternative strategies, such as a group captive, to insure their operations. At Safegard, we are one of the nation’s leading brokers of group captives representing over 170 clients in this effective risk management strategy. Our clients who take advantage of this alternative risk strategy overall see a lower cost of risk plus improved safety and risk management practices.
Wells Fargo branch workers seek union in Wilmington
WILMINGTON – Workers at a Wells Fargo bank branch in the Wilmington suburbs have filed for a union election, which would make the handful of workers the first in the state if the effort is successful. Bankers and tellers at the Fairfax branch off U.S. Route 202 filed a...
Delaware farmer markets continue to break records
HARRINGTON — Delaware farmer markets had another record-setting year, with $4.2 million earned by farmers and entrepreneurs in 2023. With 17 markets throughout the First State, last year marks the first time Delaware farmer markets broke through the $4 million sales threshold. In the past three years, farmers markets have roared back after the COVID-19 pandemic shuttered them. In 2021, market sales hovered around $3.2 million and last year brought in $3.7 million.
Dover Air Force Base gets $30M for blood processing facility
DOVER – The Dover Air Force Base will become the new site of the Armed Services Whole Blood Processing Laboratory-East (ASWBPL-East) facility. The $30.5 million project will replace the 1955 building for refrigerator and freezer upgrades and square footage expansion. The funding for the new facility was a part...
Deadwyler named NCC chamber interim president
WILMINGTON – Yvonne Deadwyler, the vice president of the New Castle County Chamber of Commerce, has been named the chamber’s interim president following the retirement of her predecessor. Bob Chadwick stepped down from the leadership role after more than five years on Dec. 31, and the chamber’s board...
Delaware invests $26M in White Clay park expansion
DOVER – White Clay Creek State Park will grow more than 7% after the state has signed a deal to acquire 275 acres for $26 million. The funding includes $19.5 million from the Delaware Department of Natural Resources and Environmental Control (DNREC) Open Space Program, $6 million from The Conservation Fund, and $500,000 from the Walmart’s Acres for America program.
New offshore wind study points to procurement as next step
WILMINGTON — The latest commissioned study on Delaware’s offshore wind has decisively recommended that the First State should buy into wind energy, either as a standalone project or through a power purchase agreement. But the exact path forward may be determined by state environmental officials and legislators in a forthcoming bill this upcoming legislative session.
Delaware grants $1M to nonprofits to address homelessness
DOVER – The Delaware State Housing Authority (DSHA) and the Federal Home Loan Bank of Pittsburgh (FHLBank) have granted $1.075 million to 10 Delaware nonprofits that assist individuals experiencing homelessness or at-risk of homelessness. The funding was awarded through the Home4Goods program, an initiative established in 2018 between DSHA...
Enovis closes $900M deal for orthopedics co. Lima
WILMINGTON – Enovis, the medical technology company headquartered in Wilmington’s suburbs, closed a deal to acquire global orthopedics technology company LimaCorporate for more than $900 million last week. The Italian company known publicly as Lima was founded in 1945 by the Lualdi family and has grown into a...
Builders and Remodelers Association of Delaware changes name
DOVER – Builders and Remodelers Association of Delaware has changed its name back to the orginial name, Home Builders Association of Delaware (HBADE) on January 1st. According to HBADE, the name change reflects the history of the organization and its recognition amongst Delaware’s business community. HBADE was founded...
How Delaware will spend $1 billion in ARPA funds
WILMINGTON – In January 2021, with a resurgent coronavirus leading to a spike in deaths and fears that additional shutdowns could send the economy into a recession, President-elect Joe Biden detailed plans for a $1.9 trillion stimulus. Meant to address continued testing and response to the public health crisis as well as putting Americans to.
Litigation firm Quinn Emanuel opens Wilmington office
WILMINGTON – Quinn Emanuel Urquhart & Sullivan LLP, a leading global law firm known for its work in business litigation, has opened a Wilmington office led by a former chief of staff for then-Gov. Jack Markell. Michael A. Barlow, most recently a partner at the Wilmington litigation firm Abrams...
People on the Move: Jan. 5
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. Senator Tom Carper (D-Del.) named Lucy Xiao the new chief of staff and Michael Santora as the legislative...
Offshore faces uncertain winds as Ørsted’s stumbles
FENWICK ISLAND — The news that Ørsted canceled its offshore wind projects off New Jersey’s coast has sent shockwaves throughout the renewable energy sector, and the Danish company is still considering the future of its planned wind farm off the coast of Maryland and Delaware. Ørsted CEO Mads Nipper announced in late October it was.
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