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Division of Small Business

Report: Delaware ranks No. 1 in the region for best business climate


An analysis by the New Jersey Business and Industry Association, a business advocacy group, found Delaware had the most competitive business climate in a seven-state region stretching from Maryland to Massachusetts.

NJBIA looked at six factors important to business owners:

  • minimum wage
  • the top state income tax rate
  • the top corporate income tax rate
  • the state sales tax rate
  • property tax paid as a percentage of home value, and
  • the top unemployment tax rate

Delaware ranked first overall, topping Connecticut, Maryland, Massachusetts, New Jersey, New York and Pennsylvania.

Delaware had the lowest sales tax rate (zero) and property tax paid as a percentage of home value (0.56 percent) in the analysis released in May 2018.

While Delaware raised its minimum wage to $8.75 an hour on Jan. 1, it still has the region’s second-lowest minimum hourly wage behind only Pennsylvania. New Jersey raised its minimum to $8.85 an hour as of Jan. 1.

Click here to read the report.

At the Delaware Division of Small Business, we know what makes Delaware a great place to start and grow your business.

Contact us to see how we can help you.

 


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