5 Great Reasons For Building Your Business in Southern Delaware
When you enter Delaware’s southernmost county via any major roadway, oversized signs emblazoned with the state’s official colors of blue and gold welcome you to Sussex County, or “Your Business Partner.”
Seems like kind of a strange slogan, right? I mean, of all the greetings county leadership could have chosen, they decided to welcome visitors and passers through by touting the county’s business acumen.
The state, as a whole, has a reputation for being “business friendly,” but Sussex County? Well, believe it or not, there are many fantastic reasons for locating your business in southern Delaware, and we thought we’d explore some of them here today.
So, let’s take a look at why Delaware’s southernmost county is a great place to do business…
- It’s the fastest growing county in Delaware. Between 2010 and 2014, Sussex County grew by a rate of nearly 7 percent, much faster than either of the state’s other two counties. And there’s nothing to indicate this is going to be slowing down anytime soon. With 26 miles of Atlantic coastline, low tax rates and other advantages, people will continue flocking to southern Delaware in record numbers.
- Low cost of living. While neighboring states like New Jersey and Pennsylvania, and even New Castle County in Delaware, have pretty high cost of living rates, southern Delaware most certainly does not. Especially west of Route 1, it won’t cost you all that much to live in southern Delaware, especially compared to the rest of the mid-Atlantic. That’s good news for you and your employees.
- Good location in the mid-Atlantic. A significant portion of the United States population lives within just a few hours of southern Delaware, including major cities like New York, Washington, D.C., Baltimore and Philadelphia. And a significant number of them visit the beaches in southern Delaware, with many even having second homes here. They also have higher disposable incomes than most Delawareans and are not shy about spending money when in the area.
- No sales tax. Now this is good news for any business owner, as well as the people shopping in your establishment. They don’t have to spend extra money to buy your products and you don’t have to hire additional staff to do all the extra paperwork that comes with having to compute sales tax for the state on a daily basis. Being able to promote its tax-free status also provides business owners with another marketing and advertising tool.
- Favorable corporate tax laws. While this is not unique to southern Delaware, the state does have some of the most favorable corporate tax laws in the United States. And don’t just take our word for it. According to the state’s division of corporations, more than 60 percent of the nation’s publicly traded companies are incorporated in Delaware.
With the beautiful beaches, the low tax rates and its ideal location in the mid-Atlantic, southern Delaware has become more and more attractive to new residents over the last several years. And with an influx of people comes an influx of new businesses.
And that’s what we do here at Whayland – build businesses.
If you’d like to learn what we can do for you and your business, we invite you to give us a ring at 302-875-5445.