50 in 50: Delaware

50 in 50: Delaware

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $64.3 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 1.4% (U.S: 1.6%)

GDP per capita: $65,651 (U.S.: $58,154)

Population: 1.0 million

Population 5-year CAGR (2017-2021): 1.2% (U.S.: 0.5%)

Unemployment: 4.5% (U.S.: 3.9%)

Economic outlook ranking: #30 out of 50

Fiscal health ranking: #45 out of 50

Overall tax climate ranking: #16 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top metro areas by GDP:

• Wilmington (Considered a metropolitan division and part of Philadelphia-Camden-Wilmington MSA)
• Dover

Infrastructure Highlights

Infrastructure: Delaware has a high percentage of roads in good condition and has improved its bridges significantly over the last five years. The ASCE estimates the state needs over $1 billion in water & wastewater infrastructure investments over the next two decades. Officials in the state plan on addressing concerns with sea level rise and preparedness against extreme weather events like coastal storms and hurricanes. In addition, leaders intend to expand support for environmental-focused programs as well as solar and wind power projects to help build new clean energy infrastructure. Delaware will receive nearly $2.4 billion from the Bipartisan Infrastructure Law over the next five years, divided into the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2020 CPiP: $1.2 billion; 16.0% 5-year CAGR (2016-2020), above overall U.S. CAGR of 2.0%
• State & Local 2020 CPiP: $767 million; -1.1% 5-year CAGR (2016-2020), below overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2022): None

M&A activity since 2018:

• One deal with buyer from Delaware
• Six deals with sellers from Delaware

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.