by James DeChene
The General Assembly returned from Easter Break this week and worked on a few bills related to the
business community. HB310, a voluntary program to be established by the Secretary of State’s office for companies to certify their sustainability programs, was not heard, but will likely reappear soon. HB 170 (State Chamber supports), which establishes a refundable tax credit for qualified angel investors and companies, has passed the House, and was released from Senate Banking, Commerce and Insurance Committee yesterday.
Also yesterday, Governor Carney signed HS1 for HB287 (State Chamber supports), which renames the modified diploma individuals with intellectual disabilities receive upon graduating from high school so they can check the “diploma” box on job applications. This effort, was in part, driven by the inability of current high school graduates to claim they have a high school diploma due to how it’s named. The name change has no impact on the course work required to graduate.
Next week, the General Assembly is back in session. The State Chamber is watching a number of bills, and will report on activity, if any, next week.
Global Delaware team members meet with Bank of China to explore opportunities for Delaware businesses
By Meg Campbell
Secretary of State Jeffrey Bullock recently met with executives from the Bank of China to discuss ways that companies from China and Delaware can work together.
Secretary Bullock and team members from Global Delaware, the State’s initiative for promoting Delaware abroad, talked to bank executives and Chinese entrepreneurs about opportunities for collaboration, from a distributor looking for food safety products to sell in China to a manufacturer seeking advanced training opportunities in the U.S.
“There are so many opportunities for both sides,” Bullock noted. “Delaware companies can leverage their industry expertise by partnering with Chinese investors; they can develop distribution networks to sell their products and services in China; they can meet with Chinese companies looking to come to the U.S. and need distribution and support here. Forging a special relationship with the Bank of China makes so many options possible.”
Over the last several months, Global Delaware has developed a strong working relationship with the Bank of China, one of the country’s largest and most important banks. As a result of these efforts, the State has been selected to showcase Delaware businesses at the Sino-US SME Forum in New York City on September 28, 2015. This is the first event of its kind in the U.S., and Delaware is one of only a few states invited to participate.
The forum is an opportunity for Delaware companies to explore how to grow their business through collaboration with Chinese trading and/investment partners who are clients of the Bank of China. Chinese investment into the U.S. totaled nearly $50 billion in 2014 and could reach $200 billion by the end of the decade.
More than 40 Chinese business partners and investors will be at the event and available to meet with Delaware companies. After initial pre-qualification discussions, the Bank of China will set up one-on-one partnering meetings. Professional translation services and free consulting will be provided. There is no cost to participate for qualifying companies from Delaware.
“This event is a tremendous opportunity for Delaware companies and organizations of all kinds, from traditional manufacturers and service companies to entrepreneurs, nonprofits and educational institutions,” explained Secretary Bullock, noting that the Bank of China has already had great success with these events in Europe. “New York City is so close. We are so pleased that Bank of China has invited our businesses to be included in this important event.”
Global Delaware plans to charter a bus and escort the group up to NYC for this event, and lunch and dinner will be included.
Interested companies should contact a Global Delaware team member at firstname.lastname@example.org as soon as possible, as spaces will fill quickly.
James DeChene is the Chamber's Senior Vice President of Government Affairs.