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Delaware

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Kent, New Castle, Sussex

State Economy

States Without Income Tax

The United States is one of the largest and most technologically developed countries in the world. The Gross Domestic Product of the country in terms of purchasing power parity of the country has reached at $12.36 trillion (2005 est.).

Delaware Economy

Agriculture and Industry in Delaware

Delaware economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of agriculture and industry goods and services. The balance between Delaware various economic sectors differs largely between various regions and other states in the US.

The city of Wilmington, Delaware is the heart of the state's economy. This city is home to the DuPont Company - one the largest chemical companies in the world. DuPont has developed such well-known products as Nylon, Teflon, Cellophane, Stainmaster carpets, and Lycra brand spandex.

In addition to the DuPont Company, many other industries are located in the Wilmington area. These manufacturers produce clothing, processed food, rubber and plastic products, paper products, metals, and printed materials, and transportation equipment.

While the state is primarily industrial, agriculture still plays an important role. Delaware is a leading producer of broiler chickens. Potatoes, soybeans, corn, and dairy products are also important to the state's economy. Its proximity to the Atlantic Ocean has resulted in the growth of a fishing industry that produces crabs, clams and oyster.

Dover Air Force Base in Dover, Delaware, is the state's largest military facility and a major employer.

Delaware Agriculture and Industry

Delaware Agriculture:

Poultry, nursery stock, soybeans, dairy products, corn.

Delaware Industry:

Chemical products, food processing, paper products, rubber and plastic products, scientific instruments, printing and publishing.

The gross state product of Delaware in 2003 was $49 billion. The per capita personal income was $34,199, ranking 9th in the nation.

Delaware's agricultural output consists of poultry, nursery stock, soybeans, dairy products and corn. Its industrial outputs include chemical products, processed foods, paper products, and rubber and plastic products. Delaware's economy generally outperforms the national economy of the United States.

The state's largest employers are concentrated in government (State of Delaware, New Castle County, University of Delaware), chemical and pharmaceutical companies (E.I. DuPont de Nemours & Co., Syngenta, AstraZeneca, and Hercules, Incorporated), banking (MBNA America, Wilmington Trust Company, First USA / Bank One / JPMorgan Chase, AIG, Citigroup, Deutsche Bank), automotive manufacturing (General Motors, DaimlerChrysler), and farming, specifically chicken farming in Sussex County (Perdue, Mountaire Farms).

The United States headquarters of ING Group, and the US operations of its online bank, ING Direct, are located in Wilmington, as are the world headquarters of MBNA.

Dover Air Force Base, just outside Dover, is one of the largest in the country and is a major employer in Central Delaware. In addition to its other responsibilities, the base serves as the entry point and mortuary for American military persons (and some US government civilians) who die overseas.

State Economies

A central feature of the US economy is a reliance on private decision-making ("economic freedom") in economic decision-making. This is enhanced by relatively low levels of regulation, taxation, and government involvement, as well as a court system that generally protects property rights and enforces contracts.

The US is rich in mineral resources and fertile farm soil. It also has extensive coastlines on the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes along the US border with Canada - provide shipping access. These waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.