Delaware
From Wikinvestor
Delaware is a state located on the Atlantic Coast in the Mid-Atlantic region of the United States. The state takes its name from Thomas West, 3rd Baron De La Warr, a British nobleman and Virginia's first colonial governor, after whom (what is now called) Cape Henlopen was originally named.
Delaware is located in the eastern section of the Delmarva Peninsula, between Delaware Bay and Chesapeake Bay, and is the second smallest state (after Rhode Island). 2007 estimates place the population of Delaware ranking 45th in the nation, but 6th in population density, with more than 60% of the population in New Castle County. Delaware is divided into three counties: New Castle, Kent, and Sussex. While the southern two counties have been historically predominantly agricultural, the northernmost county has helped lead the state to rank 2nd in civilian scientists and engineers as a percentage of the workforce and number of patents issued to companies or individuals per 1,000 workers. The history of the state's economic and industrial development is closely tied to the impact of the Du Pont family, founder of E. I. du Pont de Nemours and Company, one of the world’s largest chemical companies.
Before its coastline was first explored by Europeans in the 16th century, Delaware was inhabited by several groups of Native Americans, including the Lenape toward the north and Nanticoke toward the south. It was initially colonized by Dutch traders at Zwaanendael, located near the present town of Lewes, in 1631. Delaware was one of the 13 original states participating in the American Revolution and on December 7, 1787, became the first to ratify the Constitution of the United States.
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[edit] Geography
Delaware is 96 miles (154 km) long and ranges from 9 to 35 miles (56 km) across, totaling 1,954 square miles (5,060 km2) and making it the second-smallest state in the United States after Rhode Island. Delaware is bounded to the north by Pennsylvania; to the east by the Delaware River, Delaware Bay, New Jersey and the Atlantic Ocean; and to the west and south by Maryland. Small portions of Delaware are also situated on the far, or eastern, side of the Delaware River estuary, sharing land boundaries with New Jersey. The state of Delaware, together with the Eastern Shore counties of Maryland and two counties of Virginia, form the Delmarva Peninsula, which stretches south down the Mid-Atlantic Coast.
The definition of the northern boundary of the state is highly unusual. Most of the boundary between Delaware and Pennsylvania is defined by an arc extending 12 miles (19 km) from the cupola of the courthouse in New Castle. It is referred to as the Twelve-Mile Circle. This is the only true-arc political boundary in the United States. This border extends all the way east to the low-tide mark on the New Jersey shore, then continues south along the shoreline until it again reaches the twelve-mile (19 km) arc in the south; then the boundary continues in a more conventional way in the middle of the main channel (thalweg) of the Delaware River Estuary. To the west, a portion of the arc extends past the easternmost edge of Maryland. The remaining western border runs slightly east of due south from its intersection with the arc. The Wedge of land between the northwest part of the arc and the Maryland border was claimed by both Delaware and Pennsylvania until 1921, when Delaware's claim was confirmed.
Delaware is subdivided into three counties: from north to south, New Castle, Kent County and Sussex.See also: List of counties in Delaware
[edit] Topography
Delaware is on a level plain; the highest elevation, located at Ebright Azimuth, near Concord High School, Wilmington, does not rise fully 450 feet (140 m) above sea level. The northern part is associated with the Appalachian Piedmont and is full of hills with rolling surfaces. South of Newark and Wilmington, the state follows the Atlantic Coastal Plain with flat, sandy, and, in some parts, swampy ground. A ridge about 75 to 80 feet (24 m) in altitude extends along the western boundary of the state and is the drainage divide between the two major water bodies of the Delaware River and several streams flowing into Chesapeake Bay in the west.
[edit] Climate
Since almost all of Delaware is a part of the Atlantic Coastal Plain, the climate is moderated by the effects of the ocean. The state is somewhat of a transitional zone between a humid subtropical climate and a continental climate. Despite its small size (roughly 100 miles (160 km) from its northernmost to southernmost points), there is significant variation in mean temperature and amount of snowfall between Sussex County and New Castle County. The southern portion of the state has a somewhat milder climate and a longer growing season than the northern portion of the State. The transitional climate of Delaware supports a surprising variety of vegetation. At Trap Pond State Park in Sussex County, bald cypress grow -- this is thought to be one of the northernmost stands of such trees. The vegetation in New Castle County, on the other hand, is more typical of that of the northeastern United States. All parts of Delaware have relatively hot, humid summers. While Sussex and Kent Counties are considered to fall in the humid subtropical climate zone, there is some debate about whether northern New Castle County falls in the humid subtropical climate zone or warm continental climate.
[edit] Demographics
The five largest ancestries in Delaware are: African American (19.2%), Irish (16.6%), German (14.3%), English (12.1%), Italian (9.3%). Delaware has the highest proportion of African-American residents of any state north of Maryland, and had the largest percentage of free blacks (17% of the state) prior to the Civil War.
Delaware is the sixth most densely populated state, with a population density of 442.6 people per square mile, 356.4 per square mile more than the national average, and ranking 45th in population. Only the states of Delaware, West Virginia, Vermont, Maine, and Wyoming do not have a single city with a population over 100,000 as of the 2007 census. The center of population of Delaware is located in New Castle County, in the town of Townsend.
[edit] Economy
The gross state product of Delaware in 2003 was $49 billion. The per capita personal income was $34,199, ranking 9th in the nation. In 2005, the average weekly wage was $937, ranking 7th in the nation.
Delaware's agricultural output consists of poultry, nursery stock, soybeans, dairy products and corn. Its industrial outputs include chemical products, automobiles, processed foods, paper products, and rubber and plastic products. Delaware's economy generally outperforms the national economy of the United States.
The Dover Air Force Base, located next to the state capital of Dover, is one of the largest Air Force bases in the country and is a major employer in Delaware. In addition to its other responsibilities in the USAF Air Mobility Command, this air base serves as the entry point and mortuary for American military personnel, and some U.S. government civilians, who die overseas.
Delaware has six different income tax brackets, ranging from 2.2% to 5.95%. The state does not assess sales tax on consumers. The state does, however, impose a tax on the gross receipts of most businesses. Business and occupational license tax rates range from 0.096% to 1.92%, depending on the category of business activity.
Delaware does not assess a state-level tax on real or personal property. Real estate is subject to county property taxes, school district property taxes, vocational school district taxes, and, if located within an incorporated area, municipal property taxes.
Over 50% of US publicly-traded corporations and 60% of the Fortune 500 companies are incorporated in Delaware; the state's attractiveness as a corporate haven is largely due to its business-friendly corporation law. Franchise taxes on Delaware corporations supply about one-fifth of its state revenue.
Title 4, chapter 7 of the Delaware Code stipulates that alcoholic liquor only be sold in specifically licensed establishments, and only between 9:00 AM and 1:00 AM.
