Delaware

Will plan to revamp incorporation law protect or damage Delaware’s $2B kingdom?

Published

10 months ago

March 5, 2025

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Will plan to revamp incorporation law protect or damage Delaware’s B kingdom?

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In the parlance of Delaware political and legal insiders, “the franchise” is king.

Without the franchise, the state couldn’t pay for public schools, police, prisons, social and health programs, beach replenishment, farm preservation or so much more.

Without the franchise, taxes would be significantly higher, or the state would need to slash services.

The franchise is Delaware’s system, which currently has 2.2 million businesses — and two-thirds of the Fortune 500 — incorporated in the nation’s second-smallest state. Amazon, JPMorgan Chase, Nvidia and the corporate parents of Google and Facebook and Instagram are among about 1,350 Large Corporate Filers who fork over $250,000 apiece in franchise taxes.

All told, those “incorporation revenues” are projected to directly generate $2 billion for the state treasury this year. That accounts for 29% of the state’s general fund revenue.

But today, fear is rampant in Delaware that the business-friendly franchise that some also call the “golden goose” is in serious danger of being cooked — that a mass corporate exodus or “DExit” is imminent.

Trepidation has grown over the last year since Elon Musk pulled Tesla and SpaceX out of Delaware and castigated the Delaware Chancery Court, which has long been considered the franchise’s crown jewel for its deft and reliable resolution of complicated business disputes.

“Absolute corruption,” Musk tweeted in December after the court’s chief judge rejected his $56 billion pay package from Tesla for the second time. The file-sharing platform Dropbox has announced it’s divorcing from Delaware, and other major companies such as Meta Platforms, the parent of social media giants Facebook and Instagram, say they might do the same.

So this month, new Gov. Matt Meyer, legislative leaders and a cadre of legal luminaries decided to neutralize the perceived threat before it gains ground.

Together, they crafted a complex proposal to revamp Delaware corporate law by essentially making it tougher for shareholders to sue founders and top executives for perceived conflicts.

They did so, Meyer and others involved in the process say, to alleviate concerns they are hearing from the nation’s corporate community that Chancery Court has grown increasingly unfriendly to top execs like Musk in mega-dollar cases.

Meyer, a Democrat and lawyer who took office Jan. 21, echoed other supporters when the bill was introduced Feb. 17. “We will protect our reputation and continue Delaware’s tradition of a balanced and measured approach, and we will do so relentlessly,” Meyer said.

Meyer’s concern is magnified by the impact a DExit would have on balancing the $6.8 billion state budget and maintaining public services during his four-year term, especially at a time when President Donald Trump is trying to cut critical federal funding to states.

Delaware needs and wants those $2 billion in incorporation revenues every year, plus a related $420 million the state gets from abandoned financial accounts at banks and other companies registered in the state, Meyer said.

“When one-third of your state’s budget is on the line and you’re eyeing down untold federal budget cuts, you have to make a choice: protect your residents or not. And I choose Delawareans every day,” Meyer said in an interview last week. “Any bill that helps improve our financial stability needs to be considered fully.”

Lawrence Hamermesh, professor emeritus at Widener University’s Delaware Law School and one of the bill’s drafters, said it will restore eroding confidence in corporate circles and prevent “catastrophic” cuts to the state budget.

“Unlike as long as I’ve been practicing and teaching corporate law, there is no longer the inclination to tell clients and to conclude that Delaware is the place to set up your corporation,” Hamermesh said. “That is potentially the source of a tipping point that would be devastating for the state and its taxpayers and workers and everybody here.”

The bill, which has bipartisan support that includes the Senate and House leadership, could become law within a month, said Delaware Senate Majority Leader Bryan Townsend, the chief sponsor.

While the bill currently has no effective date — spurring speculation that it could be retroactive and change the result of cases involving Musk and other executives — state Sen. Townsend said it’s being modified so the effective date would be after it’s signed into law.

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Delaware

See how much homes prices fell in Sussex County recently

Published

9 minutes ago

January 11, 2026

Press Room

See how much homes prices fell in Sussex County recently

Newly released data from Realtor.com for October shows that potential buyers and sellers in Sussex County saw slightly lower home sale prices than the previous month’s median of $475,000.

The median home sold for $472,500, an analysis of data from Realtor.com shows. That means October, the most recent month for which figures are available, was slightly down from September.

Compared to October 2024, the median home sales price was down 4.1% compared to $492,450.

Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in the data. The statistics don’t include homes currently listed for sale and aren’t directly comparable to listings data.

Information on your local housing market, along with other useful community data, is available at data.delawareonline.com.

Here is a breakdown on median sale prices:

Looking only at single-family homes, the $490,000 median selling price in Sussex County was up 3.2% in October from $475,000 the month prior. Since October 2024, the sales price of single-family homes was slightly down from a median of $490,445.Fifty-four single family homes sold for $1 million or more during the month, compared to 36 recorded transactions of at least $1 million in October 2024.

Condominiums and townhomes is the same sales price during October to a median of $450,000 from $450,000 in September. Compared to October 2024, the sales price of condominiums and townhomes was down 9.1% from $495,000. Ten condominiums or townhomes sold for $1 million or more during the month, compared to 14 recorded transactions of at least $1 million in October 2024.

About recorded home sales in Sussex County in Delaware

In October, the number of recorded sales in Sussex County dropped by 10% since October 2024 — from 482 to 434. All residential home sales totaled $285.4 million.

Across Delaware, homes sold at a median of $399,995 during October, up 2.6% from $390,000 in September. There were 1,072 recorded sales across the state during October, down 15.8% from 1,273 recorded sales in October 2024.

Here’s a breakdown for the full state:

The total value of recorded residential home sales in Delaware decreased by 3.4% from $553.6 million in September to $534.7 million this October.
Out of all residential home sales in Delaware, 6.72% of homes sold for at least $1 million in October, up from 5.11% in October 2024.
Sales prices of single-family homes across Delaware increased by 2.8% from a median of $408,500 in September to $419,900 in October. Since October 2024, the sales price of single-family homes across the state was up 5% from $400,000.
Across the state, the sales price of condominiums and townhomes dropped 7.4% from a median of $345,450 in September to $320,000 during October. The median sales price of condominiums and townhomes is down 5.9% from the median of $340,000 in October 2024.

The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.

USA TODAY Co. is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us.

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Delaware

Delaware Department of Technology & Information implements CloudNuro SaaS Management Platform

Published

12 hours ago

January 10, 2026

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Delaware Department of Technology & Information implements CloudNuro SaaS Management Platform

Written by

Distributed by EIN Presswire

Delaware Department of Technology & Information implements CloudNuro to improve its SaaS (Salesforce) governance, cost allocation, and chargeback automation.

State and government organizations face growing pressure to improve transparency and maximize budgets. Delaware is taking a forward-looking, data-driven approach to drive long-term efficiency.”

— Pratul Patel, Chief Product Officer, CloudNuro

CHICAGO, IL, UNITED STATES, January 9, 2026 /EINPresswire.com/ — CloudNuro, the leader in the Public Sector, State and Local Government for the enterprise SaaS, Cloud, and AI governance, today announced that it has entered into an agreement with the State of Delaware Department of Technology & Information (DTI) to modernize and unify Salesforce management across the state agencies.

Under this initiative, CloudNuro will deliver a comprehensive SaaS governance using the FinOps Foundation framework – FinOps-for-SaaS for Salesforce license visibility, cost allocation, and chargeback management. The platform will streamline contract ingestion, automate license-to-usage mapping, and support configurable cost models, including markup, license-based allocation, usage-based chargeback, and hybrid structures. The result is a clear, defensible, and auditable view of technology spending across the state environment.

By adopting CloudNuro’s automated workflows and intelligence-driven governance, the State of Delaware is expected to reduce manual administrative effort. The initiative also creates a single source of truth for Salesforce utilization across agencies and departments, strengthening financial oversight and enabling data-driven budgeting.

Key capabilities Delaware will gain include:
• Single-pane-of-glass view of Salesforce subscriptions, usage, users, and costs across the state
• Centralized ingestion of Salesforce contracts, entitlements, and renewals
• Automated mapping of licenses to actual usage patterns
• Configurable chargeback models (license-based, consumption-based, or hybrid)
• Agency-level dashboards for cost transparency and optimization
• Cross-agency visibility into unused, underutilized, or misaligned licenses
• Standardized governance to support audits, procurement workflows and renewal planning

“We’re proud to support the State of Delaware in bringing financial discipline and transparency to Salesforce governance across agencies,” said Shyam Kumar, CEO of CloudNuro. “This engagement reflects the growing need for accountable, data-driven technology management in the public sector.”

This engagement reflects CloudNuro’s expanding role in supporting public sector digital modernization. By providing automated governance, FinOps-ready cost insights, and seamless alignment with procurement, IT, and finance operations, CloudNuro helps government organizations strengthen accountability, reduce waste, and streamline complex technology environments. The CloudNuro FinOps platform is used by several large public-sector agencies, including Los Angeles Metro, Cook County, DuPage County, the Greater Orlando Aviation Authority, and the City of Aurora.

For public-sector IT leaders, CloudNuro delivers a modernized approach to SaaS and cloud governance – purpose-built for the scale, rigor, and compliance needs of state operations.

About CloudNuro Corp:
CloudNuro is a leader in Enterprise SaaS Management Platforms, giving enterprises and government unmatched visibility, governance, and cost optimization. Recognized twice in a row by Gartner in the SaaS Management Platforms Magic Quadrant and named a Leader in the Info-Tech SoftwareReviews Data Quadrant, CloudNuro is trusted by several public sector and government agencies, including Cook County, DuPage County, City of Aurora, Los Angeles Metro, Greater Orlando Aviation Authority, State of Delaware, and Metropolitan Water District of Southern California.

As the only Unified FinOps Platform for the Enterprise, CloudNuro brings AI, SaaS and IaaS management together in a unified view. With a 15-minute setup and measurable results in under 24 hours, CloudNuro gives IT teams a fast path to value.
For more information, visit www.cloudnuro.ai.

Media Contact
Shyam Kumar
CEO, CloudNuro
📞 +1 630-347-0833
✉️ shyam.kumar@cloudnuro.com
🌐 www.cloudnuro.ai

Shyam Kumar
CloudNuro Corp
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Delaware

Delaware County’s 250th events aim to boost local economy

Published

1 day ago

January 10, 2026

Press Room

Delaware County’s 250th events aim to boost local economy

DELAWARE COUNTY – Delaware County is gearing up for a year-long celebration of the United States’ 250th anniversary, bringing together community partners for a series of events and programs.

Delaware County’s plans for the semiquincentennial

The Delaware County America 250 Commission hosted a “We the People” party to unveil plans for the upcoming celebrations.

The events aim to educate and connect the local community while drawing visitors from outside Philadelphia to explore the area’s rich history.

What they’re saying:

“Delaware County is not just watching from the sidelines, we are proud to be an essential part of a massive regional and national celebration,” said Christine Reuther, Delaware County Council Vice Chair.

Andrea Silva, director of the Delaware County America 250 Commission, highlighted the diverse themes that will be showcased throughout the year.

Celebrating 250 years of history

The backstory:

Friday’s event celebrated Delaware County’s 250-year history, with different tables reflecting various themes.

Attendees included Colonial Farmstead, Penn’s Woods Winery, and Pathways to Freedom.

The programming will feature over 100 events, including the Battle for Independence: Amazing Race to Brandywine and the Irish America 250 Kick Off on Jan. 14.

The celebrations are expected to leave a lasting legacy, with hopes of boosting the local economy.

“We want to see real economic impact for our local businesses as visitors from around the world come to shop on our main streets and stay in our towns and eat in our restaurants,” said Reuther.

What’s next:

This year’s county event specifics can be found here.

The Source: Information from the Delaware County America 250 Commission.

America 250Delaware County

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