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Gov. Carney announces the move of a Chicago-based company to Delaware bringing hundreds of jobs

A Chicago-based fintech company is moving its headquarters to Wilmington.

Investor Cash Management is a Visa Ventures company, and it’s moving its $15.37 million headquarters to Wilmington.

"We've developed a technology that can transform an investment product such as an ETF or a mutual fund or a share into an immediately liquid digital transaction currency," said ICM CEO Fred Phillip. "So typically you can have your money in a bank where you have access, or money investments where you get higher returns and what our product enables you to do is to have both at the same time."

Phillips says Delaware is an ideal place for ICM.

"Delaware is the payments capital of the United States if not the world," said Carney. "There's an enormous amount of local talent here. We think it's an attractive environment where we can recruit new people. It's an outstanding quality of life and as the governor and the mayor said I think that people now look for not only a job but a lifestyle when they commit to a company."

The move will bring almost 400 jobs to Delaware. The state is giving ICM a little more than 4 million dollars in Delaware Strategic Fund grants contingent on meeting that mark.

Most of the jobs will be in technology and operations. There will also be jobs in call service and client support.

Gov. John Carney says the state has put itself in a good position to attract companies looking for younger workers.

"And our workers today - the young people today - are not just looking for a job, they're looking for a way of life, and we think that that's where we kind of have the edge," said Carney. "Particularly as they get to that age where they're starting to start a family."

New B&M Meats has chosen Wilmington for expanded production adding 190 new jobs, and Analytical Biological Services is more than doubling its workforce by adding 36 new jobs at its New Castle facility.

Those companies are also receiving Strategic Fund grants and other state incentives.

New B&M Meats is receiving a Performance Grant of $195,975 to add 70 jobs at its existing Commerce Street location.

It's planned new facility will be on 10 acres along East Seventh Street, built with support from a Capital Expenditure Grant of $555,300. A second Performance Grant of $359,450 will help New B&M Meats add 120 jobs at the new site.

Construction on the new facility will start in 2022. It's expected to open in late 2023 or early 2024.

Analytical Biological Services Inc. requested a Performance Grant of $262,260 and $1 million from Delaware’s new Lab Space Grant Incentive program.

The Performance Grant will be drawn over the three years is for the creation of the new jobs, all full-time high-quality Delaware jobs ranging from skilled trade to professional level.

Joe brings over 20 years of experience in news and radio to Delaware Public Media and the All Things Considered host position. He joined DPM in November 2019 as a reporter and fill-in ATC host after six years as a reporter and anchor at commercial radio stations in New Castle and Sussex Counties.