Delaware State Chamber of Commerce Releases White Paper on the Trends Shaping Delaware’s Future
The Delaware State Chamber of Commerce released a white paper, The Trends Shaping Delaware’s Future, analyzing demographic and labor force shifts affecting the state’s economic growth and competitiveness. Key areas of focus include: Demographics & Workforce Shifts, Economic Competitiveness & Business Climate, and Housing, Migration & Affordability, and Technology & Innovation. The report also offers recommendations to address the state’s challenges and capitalize on emerging opportunities, positioning Delaware as a leader in economic growth and quality of life for residents and businesses alike.
Additional Information from DSCC:
Delaware, like the rest of the nation, is undergoing a period of significant transformation—arguably the most profound since the 1960s. Currently, we are witnessing a wave of political, geopolitical, technological, and environmental transformations that dominate daily headlines.
It is essential for the state to anticipate these changes and develop strategies to sustain and strengthen both the economy and the standard of living for all Delawareans. The Delaware State Chamber of Commerce recently commissioned consulting firm Economic Leadership LLC to perform research and identify demographic trends likely to have significant impacts on Delaware and its economy in the coming decade.
The white paper, The Trends Shaping Delaware’s Future, explores key societal and demographic shifts and provides a comprehensive assessment of Delaware’s economic competitiveness and future prospects. Key areas of focus include:
- Demographics & Workforce Shifts: Delaware’s population has grown by 21% since 2006, driven by an aging demographic and migration, but faces workforce challenges due to declining labor force participation and talent shortages.
- Economic Competitiveness & Business Climate: Delaware’s economy is growing slowly, with low employment growth and future job increases in healthcare, finance, and transportation, while facing challenges in labor force alignment, high business costs, and regulatory inefficiencies.
- Housing, Migration & Affordability: As an in-migration state, rising home prices in Delaware—up 56.2% in four years—threaten workforce attraction and require regulatory adjustments to maintain affordability.
- Technology & Innovation: Artificial intelligence (AI) and automation will impact Delaware’s workforce, requiring adaptation in key industries and stronger support for research, development, and innovation.
The report also offers recommendations to address the state’s challenges and capitalize on emerging opportunities, positioning Delaware as a leader in economic growth and quality of life for residents and businesses alike:
- Workforce Development: Expanding training programs, attracting skilled workers, and retaining graduates
- Business Climate Improvements: Streamlining regulations, enhancing tax policies, and improving infrastructure
- Housing & Affordability: Addressing housing shortages and cost-of-living concerns
- Technology & Innovation Investment: Supporting AI adoption and fostering a robust startup ecosystem
- Public-Private Collaboration: Strengthening partnerships to drive economic development
“The white paper consists of important data points, including who is moving here and from where, birthrates and their implications for education providers and employers, housing inventory and associated costs, and more,” said Michael J. Quaranta, president of the Delaware State Chamber of Commerce. “The report will serve as a guide for our future research and policy priorities as we work collaboratively to solve some of the biggest challenges facing employers and their employees.”
The white paper can be viewed here: www.dscc.com/wp_trendsshapingdefuture.html
The Delaware State Chamber of Commerce is dedicated to promoting an economic climate that strengthens the competitiveness of Delaware businesses and benefits citizens of the state. Founded in 1837 as the Wilmington Board of Trade, the Delaware State Chamber of Commerce has a long history as the largest, most influential business organization in the state. The State Chamber is uniquely positioned to bring parties together to solve problems, create jobs, promote business, and improve the quality of life for all Delawareans.