NOVO

Florida fintech company Novo to expand in Wilmington

Betsy PriceBusiness, Headlines

A Miami-headquartered fintech company has opened a Wilmington office. Novo, a two-time member of the Forbes Fintech 50, has built a platform for small businesses that combines a checking account with an ecosystem of financial applications. It’s designed to help small businesses access their revenue faster, save time on business-critical tasks and manage their money any time on any device. …

Machine

Wilmington machine company gets 1st state modernization grant

Betsy PriceBusiness, Headlines

A Wilmington machining company will use a new kind of state grant to offset the cost of $1.1¬† million in equipment upgrades. High-Tech Machine Co. Inc. received $219,525 from the new Modernization Investment Support Initiative, created earlier this year. The company will use the money to make almost $1.1 million in equipment upgrades that are necessary for computer numerical control …

RiKarbon at CDF

RiKarbon will add jobs, expand lab space with state grants

Betsy PriceHeadlines, Business

A Delaware environmental solutions firm will use $60,000 in state grants to quadruple lab space and create 12 new full-time jobs. RiKarbon, based in Newark, will use the grants to expand from Delaware Technology Park incubator space to the Delaware Industrical Park. The company, which will focus on carbon capture and utilization with the expansion, was founded in 2018 with …

supply chain

Delaware supply chain company to expand at Newark home

Betsy PriceBusiness, Headlines

A Newark supply chain management company will use a state grant of $155,970 to build a warehouse and fulfillment center next the headquarters of the company that spun it off. EtailFlow LLC, a supply chain management company designed to efficiently distribute electronic goods, grew out of Delaware-based ecommerce leader PCOnline earlier this year. Its new facility will be next to …

Agile Cold Storage

$170 million cold storage facilty headed to Claymont

Betsy PriceBusiness, Headlines

A new $170 million cold storage facility will break ground in Claymont this fall and is expected to add about 130 jobs when it opens next summer. Agile Cold Storage will build a 275,000-square-foot cold-storage facility to help meet growing demand from North American food manufacturers, processers and growers. The addition will be the first company warehouse outside its home …

ratings

Here’s what goes into keeping Delaware’s AAA ratings

Betsy PriceGovernment, Headlines

The way Delaware handles its budgets, a growing population and efforts to diversify the state economy all help the state continue to earn a AAA bond rating, which means the state pays less when it wants to borrow money. For example: The state received bids last week for its upcoming sale of $380 million of triple-A rated General Obligation Bonds …

Toivoa, a Wilmington-based startup, placed first in the Delaware Tech-Enabled category of the third Startup302 competition. (Delaware Prosperity Partnership)

15 tech ventures share $198,000 in Startup302 prizes

Ken MammarellaBusiness, Headlines

Fifteen tech-enabled startups with at least one team member from an underrepresented demographic are sharing $198,000 in non-dilutive grant funding from the third Startup302 competition, coordinated by Delaware Prosperity Partnership and its partners. The contest attracted 169 applicants from throughout Delaware and across the United States, plus Canada, Brazil, Uruguay, Italy, Armenia and Kyrgyzstan. Startup302 winners Delaware Tech-Enabled (sponsored by …

CP cases

CP Cases moves to Delaware from Maryland

Betsy PriceBusiness, Headlines

A company that designs and makes high-performance protective cases and racks for industries ranging from rock stars to defense will move from Maryland to Frankford, Delaware. CP Cases USA, which was opened in 2013 by the owner of a similar United Kingdom company, will move into a 25,000-square-foot site in the Frankford Business Park, located along Route 113. The company …

Case

Global case manufacturer moves from Maryland to Delaware

Staff WriterBusiness, Headlines

A company that designs and manufactures¬†high-performance protective cases and racks used in industries ranging from broadcasting to defense has chosen Frankford as the new site for its United States operations. CP Cases USA, opened in 2013 by the owner of a similar company in the United Kingdom, will move from an 8,000-square-foot site in Bishopville, Maryland, to a 25,000-square-foot site …

Royale Pigments & Chemicals

The Royale Group to expand with $2 million Seaford site

Charlie MegginsonBusiness, Headlines

Just two years after moving its operations from New Jersey to Delaware, The Royale Group has announced it will double down on the First State with a new facility in Seaford.¬† The $2.35 million expansion is expected to create 29 jobs in Southern Delaware. The Royale Group is a collection of specialty chemical companies that manufacture, formulate and distribute chemicals.¬† …