Delaware Maintains Highest GDP Growth Nationally
Finance and Insurance Industry Maintains Rapid Growth
Delaware officially has the fastest-growing economy in the United States.
The big growth story in Delaware has been its finance and insurance industry. Finance was a boost for every state, but Delaware’s finance and insurance industry has been on fire. In fact, 4.57 percentage points of Delaware’s 5.7% GDP growth came as a direct result of this leading industry, and Delaware’s official state website says that Delaware’s finance industry is expanding at nearly twice the national rate.
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What Does This Mean For Wilmington?
For Wilmington specifically, the hub of the finance and insurance sectors, this is a testament to the amount of growth the city has already achieved and continues to work towards in the state. Wilmington continues to create jobs in those sectors and others such as technology, and healthcare. Wilmington is close to reaching it’s full potential and fostering much more economic growth and stability than it already has, it just needs the final tools to get there.
The Wilmington Leaders Alliance takes economic growth very seriously. As one of our four core areas, We believe that “Developing Wilmington’s position as a thriving and prosperous city in a 21st-century global economy requires excellence in workforce development. This requires intentional partnerships between employers, investors, training providers, and the government.” Taking the measures to enhance the economy and allow for prosperity will ensure the growth and wealth of this great city.