Historically, research and development incentives in Delaware have supported larger established companies. While these larger companies are vital to the state, smaller businesses and startups usually need more resources as they are starting out to remain competitive and expand their business efforts.
Rep. Short introduced legislation to reform the R&D Tax credit program in Delaware so that it will drive more of the resources to smaller start-up companies. By refocusing the credit toward smaller businesses and startups, this bill incentivizes innovation and growth in emerging industries that are critical to enhancing Delaware’s competitiveness and increasing the opportunity for job growth. If passed, the bill will improve the business climate for existing small businesses and attract new businesses to Delaware.