Delaware eyes tax reforms, incentives for DowDupont ag unit
WILMINGTON, Del. (AP) — Delaware government and business officials are celebrating the decision by the DuPont Co. and Dow Chemical to locate in Wilmington the corporate headquarters of the agriculture company to be spun off after their planned merger.
The companies announced Friday that Wilmington will be home of the agriculture company’s CEO and key corporate support functions. Leadership of business lines and support functions, research and development, and sales and marketing will be based in Iowa and Indiana.
As part of the agreement, Gov. Jack Markell has vowed to work to reform Delaware’s tax code, including lifting annual caps on research and development tax credits and offering payroll tax credits.
Delaware economic development officials also are offering the company up to $9.6 million in grants, mostly in matching funds for capital expenditures.