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Cost of Doing Business



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Delaware’s cost of doing business is 16 percent below the national average, and Forbes’ “Best States for Business rankings” has recognized that Delaware ranks 3rd-lowest for business costs in the nation.

The cost of doing business is a major factor when deciding where to establish your company in the U.S. Considerations include tax climate, utility costs, wage costs, real estate costs for office and industrial space, as well as incentive programs.

 
 

Tax Climate

Delaware is ranked among the top states for the best business tax climate by the Tax Foundation.

 
 

Comparison of Utility Costs

(Cents per kilowatt/hour)

Type Delaware Maryland New Jersey Pennsylvania New York Massachusetts California
Commercial 9.67 11.25 11.73 9.01 13.75 14.91 13.90
Industrial 7.55 7.74 9.80 6.80 5.82 13.24 11.05

Source: U.S. Energy Information Administration
 
 

Average Wages

The State’s minimum hourly wage is $8.25. The State’s leading sectors have lower wage costs than other states in the region, and other leading clusters.

median-hourly-wage-in-Delaware
mean-hourly-wage-in-Delaware
mean-total-wage-in-Delaware
 
 

Mean Hourly Wage by Sector

Source: Bureau of Labor and Statistics
 
 

Real Estate

Delaware has one of the lowest median property tax rates in the United States.

Type Wilmington,
Delaware
Boston,
Massachusetts
New York,
New York
Baltimore,
Maryland
Philadelphia,
Pennsylvania
San Francisco,
California
Office Property Index $128.62 $316.57 $195.65 $161.86 $159.87 $773.18
Industrial Property Index $66.53 $90.22 $137.19 $81.41 $45.92 $202.42

Source: U.S. Energy Information Administration
 
 

Incentive Programs

Financial incentives are available from the State of Delaware, the federal government and other organizations. Options range from tax credits to low interest loans and other financing options. Search financial incentives here.


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Global Delaware
820 N. French Street,
4th Floor
Wilmington DE, 19801

P: +1 (302) 577-8464
F: +1 (302) 577-1176

Email: global@delaware.gov


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