The Delaware Business Roundtable is challenging business, nonprofit and political leadership in Delaware to prioritize, invest and look ahead to move the economy forward.
The Roundtable released its “Delaware Investment Agenda” report to offer the state’s political leaders a comprehensive framework to set a course toward prosperity and growth.
The report calls for action in three areas: Innovation and Entrepreneurship, Talent and Workforce, and Long-Term Competitiveness.
Delaware Business Roundtable chair Brian DiSabatino says while things might be going well now, there are signs of trouble lurking.
"Delaware is in great shape, so I don't want to minimize that at all,” said DiSabatino. “The current legislature, the current administration and the current business community have done a nice job post-COVID making sure Delaware is an excellent place to do business, but as we began to survey the horizon a little bit on where we were headed. where our competition was headed where the environment around us was headed we started to see some storm clouds."
DiSabatino says those storm clouds include public sector revenues not growing as fast as expenditures.
"If we can grow in the areas that we're suggesting that we grow, everybody benefits. Revenues pour into the school districts for better education. Revenues for both transportation improvements and environmental protection. So we try to figure out where we have the most commonality," said DiSabatino.
DiSabatino notes the goal of the report is to turn the state’s focus toward long-term investments that help it become an even stronger magnet for leading-edge technologies, talent and investment.
The report is available on the Delaware Business Roundtable’s website at https://www.dbrt.org/single-post/delaware-investment-agenda-calls-on-delaware-leaders-to-prioritize-invest-and-look-ahead-to-prop
The “Investment Agenda” report recommends action in three key areas outlined below:
INNOVATION AND ENTREPRENUERSHIP
· Create a statewide science and technology strategy to guide Delaware’s efforts to foster and promote its innovation and entrepreneurship infrastructure.
· Redefine and retool the Division of Small Business to increase its outreach and impact on the state’s entrepreneurship ecosystem.
· Develop more robust storytelling about successes and assets to attract new talent and investment and foster an entrepreneurial culture.
· Create new incentives to attract new investment and entrepreneurs to Delaware.
· Expand technology transfer and commercialization opportunities at Delaware universities.
TALENT AND WORKFORCE
· Support equitable investment in early childhood education to increase access and improve outcomes for children in the state.
· Restructure the state workforce development system to reduce redundancy, enhance funding, and improve alignment with the business community’s needs.
· Support the development of workforce housing in Delaware to improve availability and affordability across housing types.
· Establish innovative training programs and nontraditional training delivery methods to help Delawareans find employment opportunities in high growth, high-demand, and/or emerging industries.
· Build industry-led sector partnerships supported by education, workforce providers, and economic development organizations to strengthen Delaware’s talent pipeline.
· Establish a workforce task force to streamline communication with new and existing businesses and identify opportunities to meet workforce needs.
· Make Delaware more competitive for talent attraction by increasing job resources and information for potential new residents.
· Advocate for increased support for returning citizens to ensure they can access work opportunities.
LONG-TERM COMPETITIVENESS
· Establish a nonpartisan independent Delaware Futures Council to inform and advise Delaware’s leaders on the fundamental challenges impacting the long-term economic competitiveness in the state.
· Identify and prepare large scale commercial and industrial sites for future development.
· Support the passage of state legislation to require state agencies and counties to expedite the review of certain types of development projects, consistent with local land use planning and informed by public input.
· Support local communities in developing authentic and brandable places that attract and retain young adults and leverage the synergies to live, learn, work, and play.
· Request that the State of Delaware commission a report that examines how successful the state is pursuing and securing all available federal funding opportunities.
