Delaware / Economics / Investing

The Wilmington stock exchange was just approved

New Castle County Council has approved the $15 million bond being sought by Delaware Board of Trade Holdings Inc.

Wilmington is getting a stock exchange. (Photo by Flickr user Andreas Poike, used under a Creative Commons license)

Wilmington is getting a stock exchange for small to medium-sized businesses.
On Tuesday, New Castle County Council unanimously approved the $15 million bond being sought by Delaware Board of Trade Holdings Inc., the holding company looking to establish a stock exchange in downtown Wilmington.
As previously reported, the company is led by a handful of experienced execs from the New York Stock ExchangePhiladelphia Stock ExchangeCincinnati Stock Exchange and Nasdaq. Oh, and a former aide to Vice President Joe Biden.
According to the News Journal, the stock exchange will initially employ 25 to 50 people when they open up shop late November of this year, with hopes of expanding to 100-125.
While the Journal reports officials are just capitalizing on Delaware’s global corporate brand and that this type of stock exchange can be established pretty much anywhere, Mayor Dennis Williams seems to be pretty excited.
“You get these people working downtown, the spinoff for restaurants,” he told the News Journal. “It is going to be a boom-boom for everyone.”
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