Delaware Public Media

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Delaware Public Media's coverage of the business-related stories.

Delaware Public Media

Senator Tom Carper (D-Delaware) likes what he sees in the just-released jobs reports from the state and federal governments.  Delaware’s unemployment rate fell to 5 percent in January, while nationally some 295,000 jobs were added in February – even though unemployment ticked up to 5.7 percent.

In the First State, the jobless rate is down over a point from one year ago and the state has added Delaware has added more than 8,000 net jobs outside of agriculture since then.

Delaware unemployment drops again in January

Mar 8, 2015
Delaware Public Media

Delaware’s seasonally adjusted unemployment rate continues to drop, now standing at an even 5.0 percent.

That’s down two-tenths of a point from December’s numbers and a difference of 1.1 percent from this time last year.

Over the past year, Delaware has added more than 8,000 net jobs outside of agriculture. Much of that growth comes from professional and financial services, as well as transportation.

Construction has remained relatively flat, with modest growth in the manufacturing, medical and hospitality sectors.

A just released impact report is proclaiming the 2014 Firefly Festival an economic success.

The University of Delaware-conducted study revealed the 3rd edition of the fast-growing annual musical extravaganza contributed more than $68 million to the regional economy.

With a recorded attendance near 80 thousand people, that breaks down to about 850 Firefly-generated dollars per ticket sold.

Banking giant JPMorgan Chase officially completed its purchase of AstraZeneca’s 58-acre south campus in Fairfax Thursday.

The deal, reportedly worth $44 million, allows JPMorgan to expand its operations in the First State as AstraZeneca trims its workforce in Delaware. JPMorgan currently employs more than 7,500 in the state after adding more than 1,200 jobs over the past two years. The company has told state officials it wants to bring another 500 more positions to the state.

Delaware’s Council on Development Finance approved a million and a half dollar grant to banking giant JPMorgan Chase Monday.

The Strategic Fund grant will help the company with the $50 million in capital expenditures it intends to make in support its operations in the First State.

JPMorgan Chase says it plans to bring an additional 500 jobs to Delaware.

Alan Levin, the director of the Delaware Economic Development Office (DEDO), says those jobs would be a boon to the First State’s economy.

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