Phew: DuPont spinoff company Chemours stays in Delaware - Technical.ly Delaware

Business

Jan. 10, 2017 12:36 pm

Phew: DuPont spinoff company Chemours stays in Delaware

Moving the company could have meant moving a large tax base out of the state, so government officials and big-business community leaders are relieved.

Chemical company Chemours is here to stay in Delaware.

(Photo by Flickr user zhouxuan12345678, used under a Creative Commons license)

Last night, Gov. Jack Markell announced that DuPont spinoff company, Chemours, will remain in downtown Wilmington.

Less than two years ago, chemical giant DuPont spunoff Chemours into its own entity. Its stock was struggling but made a rebound that surprised those who doubted its success.

After the company weathered the storm, there were talks about relocating to another building or potentially leaving the state altogether. In a small state such as Delaware, a company of that size leaving would have meant many people would be out of a job and many homes would be on the market, in addition to their spending habits moving to another state.

As DelawareOnline reported, Markell and director of Delaware Economic Development Office Bernice Whaley moved quickly to address the situation but it only put a temporary stop gap on Chemours’ plans.

Last night, Markell announced more permanent plans to stay in the First State according to our friends at WDEL at the annual Delaware State Chamber dinner. Governor-elect John Carney, Sen. Tom Carper and newly inaugurated City of Wilmington mayor Mike Purzycki were also thrilled by the decision.

Chemours has been headquartered in the historic DuPont building on the 1000 block of Market St. in downtown Wilmington but has decided sell the building to the Buccini/Pollin Group and to lease the building from BPG.

-30-
Rana Fayez

Rana Fayez was Technical.ly Delaware's lead reporter. She was previously business reporter and digital editor for the Delaware Business Times. In 2015, she won two awards from the Delaware Press Association for her coverage on consumer retail trends and technology news. When not storytelling, she's volunteering or making music.

Advertisement

Sign-up for regular updates from Technical.ly