AGP Executive Report

Delaware Business & Economy: A new Delaware-focused debate is heating up over corporate franchise taxes after a Caesar Rodney Institute analysis argues the state’s revenue gap is being filled by higher business costs—even as franchise tax collections fell while incorporations rose. Public Safety & Courts: Delaware State Police arrested a Maryland hunter, 74-year-old Walter Moorhead, after he allegedly mistook a woman for a deer and fatally shot her in Ellendale; he faces manslaughter and other felony charges. Corporate Governance: Silver Lake sued Carl Icahn and hedge funds in Delaware Chancery to block “appraisal” claims tied to its 2025 Endeavor deal, a move that could affect hundreds of millions in payouts. Health Policy: Delaware Attorney General Kathy Jennings Raoul joined a coalition opposing a proposed federal CMS rule that could threaten Medicaid funding and state oversight. Housing & Taxes: A Delaware property tax relief and modernization working group is starting its work, with county officials and advocates pushing for easier access to programs. International Trade/Defense: South Korea’s foreign minister met with Delaware Sen. Chris Coons to seek U.S. support for faster shipbuilding and nuclear cooperation. Business Spotlight: Wegmans plans a refrigerated distribution overhaul that includes Delaware in its multi-state footprint.

Small-Business Push: Gov. Matt Meyer says Delaware’s Office of Small Business Access is already cutting red tape, running listening tours, and reviewing cottage food and food-truck rules to lower barriers for entrepreneurs. Labor Market Watch: Delaware’s unemployment rate edged down to 4.7% for the fifth straight month, even as the labor force shrank—Delaware added 600 jobs in July to August. Housing & Growth: Dagsboro is weighing annexing 134 acres west of Route 113 for a Harmony subdivision of about 262 homes, with a council vote expected later this fall. Agriculture Costs: Record-high diesel prices are squeezing Delaware farmers during harvest, with some adjusting how they buy fuel to manage volatility. Banking Expansion: Farmers Bank of Willards plans a new Delmar branch, its second Delaware location in a decade, targeting a Memorial Day 2027 opening. Consumer Finance Enforcement: Delaware is among states in a $694 million multistate settlement with Credit Acceptance over “predatory” auto loans, including relief and new consumer protections. Health & Pharma: BMS and Ono filed a BPCIA suit in Delaware against Amgen over a proposed nivolumab biosimilar. Business & Courts: A Delaware Chancery Court lawsuit alleges Carl Icahn-linked hedge funds coordinated appraisal arbitrage in Endeavor’s buyout. Regulatory Oversight: FDA reports one biologics inspection in Delaware in August, with no action indicated.

Sussex County Public Safety: Delaware State Police say a 74-year-old Maryland hunter, Walter Moorhead, was charged with manslaughter after allegedly shooting and killing 39-year-old Santos Maria Chilel Soto in an Ellendale field, after mistaking her for a deer while hunting from a ground blind. Delaware Corporate Governance: A Delaware corporate-control fight is unfolding around Ondo Finance after founder Nathan Allman’s death left the company without a sitting director, raising questions about who can appoint directors and exercise voting rights. Delaware Elections: The Delaware Department of Elections certified Tuesday’s Primary results; early voting for the General Election runs Oct. 22–24 and Oct. 26–27, with additional dates through Nov. 1. Delaware Business & Finance: MidAtlantic Wealth Partners is expanding in coastal Delaware, opening a Dewey Beach office with a retirement-focused push for Sussex County clients. Policy & Economy Watch: EPA moves to repeal Biden-era power-plant greenhouse gas rules, while a new study ranks Delaware among states with the highest student debt burdens. Weather: A week-long nor’easter is forecast to bring days of high surf, strong winds, and coastal flooding along the East Coast.

Delaware Politics: The Delaware Department of Elections certified Tuesday’s Primary results, setting up the November General Election and early voting that starts Oct. 22 (with specific Sussex and Kent sites listed). Consumer & Legal: Delaware is among states in a $694 million multistate settlement with subprime auto lender Credit Acceptance, with cash and debt relief plus new consumer protections. Business & Finance: Wilmington’s MidAtlantic Wealth Partners is expanding retirement planning in coastal Delaware, opening a Dewey Beach office with Safe Harbor Financial Advisors. Public Safety: Delaware State Police arrested a Maryland man accused of fatally shooting a woman in Ellendale after he said he mistook her for a deer. Local Economy: Delaware County, Iowa home values rose 5.5% year over year to $251,907 in August, according to Zillow. Community & Waste: A regional composting push is gaining momentum, including Delaware County’s Kitchen Harvest processing scraps at Linvilla Orchards.

Real Estate & Banking: Santa Fe businessman Gerald Peters’ real-estate holdings are being listed for sale as “in foreclosure and receivership,” while Century Bank has agreed to merge with Bank7—another sign of mounting pressure across his empire. Corporate & Cybersecurity: A single firm, Irregular, is blamed for hacking incidents tied to OpenAI, Anthropic and Meta, raising fresh questions about liability and oversight in the AI supply chain. Delaware Economy: Delaware’s unemployment rate fell to 4.7% in August, and the state’s combined tax revenues rose 27.6% quarter-over-quarter in Q1 2026. Housing & Homebuying: A TD survey finds first-time buyers are considering 50-year mortgages and even using 401(k)s as affordability squeezes budgets. Local Business Resilience: Lewes-area small businesses and nonprofits trained on disaster preparedness and business continuity, with organizers warning many firms lack plans. Energy Prices: GasBuddy reports Delaware County midgrade and diesel prices easing in the week ending Sept. 12. Public Safety & Fraud: Delaware State Police arrested a California man after a $680,000 electronics shipment was stolen from a New Castle warehouse using fraudulent FedEx credentials. Community & Development: Delaware Resorts Expos hosted a 2026 Fall Home Expo with 150+ local businesses showcasing upgrades for homeowners.

Delaware Jobs: Delaware’s unemployment rate edged down again to 4.7% in August, improving for a fifth straight month as total jobs rose and key sectors like professional services, education/health and construction added positions. State Revenue: Delaware collected $1.9B in taxes in Q1 2026, up 27.6% from the prior quarter, led by income taxes and corporate general license receipts. AI in Banking: Truist rolled out AI call summaries across its care centers, generating millions of summaries and cutting employee documentation time. Cybercrime in Delaware: Delaware State Police arrested a California man tied to a $680,000 electronics theft from a New Castle warehouse after fraudulent FedEx credentials and a false plate were used. Local Resilience Planning: Dewey Beach’s $75,000 resiliency project is underway, with public input sought to update flood risk maps and support future mitigation grants. Business Growth: i.g. Burton Auto Group acquired Willis Ford in Smyrna, adding the Ford brand and expanding to 16 dealerships across Delaware and Maryland. Housing/Real Estate: Delaware County, Indiana’s typical home value rose 4.7% year over year to $173,010 in August 2026. Energy Prices: GasBuddy reports the lowest midgrade gas in Delaware County hit $3.79 per gallon for the week ending Sept. 12.

Auto Deal Expansion: i.g. Burton Auto Group acquired Willis Ford in Smyrna, renaming it i.g. Burton Ford of Smyrna and growing to 16 dealerships across Delaware and Maryland. Workplace & Talent: Delaware SHRM’s Oct. 7-8 Wilmington conference will focus on how HR leaders should handle AI-driven change while keeping “real people” at the center. Banking & Local Growth: County Bank promoted Heidi Logan to branch manager in Lewes, highlighting her customer-service and leadership track record. Public Policy & Food Security: Indiana will replace SNAP benefits for households in 19 counties hit by Aug. 11 power outages, with funds loaded to EBT cards around Sept. 26. Health & Consumer Safety: Abbott baby formula will pay $384M+ in a multistate settlement over alleged safety failures, including impacts on programs like Medicaid, SNAP and WIC. Capital Markets: CleanSpark priced $2.276B in senior secured notes to fund data center buildout at its Sandersville facility. Corporate Governance: Gov. Matt Meyer nominated Richards Layton director Kyle Lachmund to the Delaware Court of Chancery, a key business-court post.

Chesapeake Bay Policy Shake-Up: President Trump revoked a 2009 federal framework for Chesapeake Bay restoration, shifting funding toward direct pollution-reduction projects and drawing pushback from Maryland officials. Consumer Finance Enforcement: Delaware Attorney General Schwalb joined a $694M multistate settlement with subprime auto lender Credit Acceptance, requiring restitution and new consumer protections. State Infrastructure & Utilities: DelDOT is seeking higher fines for red-light cameras and has broken ground on a Georgetown overpass, while Verizon’s copper landline phaseout could reach parts of the Delmarva region if the FCC approves. Public Health Watch: Delaware issued a community-wide measles exposure alert for the greater Rehoboth area after an out-of-state contagious traveler visited multiple stores and restaurants. Local Business & Development: Construction began on Ciel of Rehoboth, a 144-suite senior living community near Rehoboth Beach, with opening expected in early 2028. Housing & Economy Signals: Zillow reported New Castle County’s typical home value rose to $367,612 in August 2026, up 0.7% year over year. Delaware Courts/Politics: A judge ruled Wilmington council can’t remove Councilman James Spadola over his party switch, keeping him in office.

Delaware Privacy Overhaul: Delaware’s Personal Data Privacy Act just got a major upgrade with HB 380, signed Sept. 2, 2026—lowering thresholds, adding new duties for “reports,” tightening profiling rules for job applicants and workers, and expanding third-party contract obligations, with compliance starting Jan. 1, 2027. Consumer Finance Enforcement: Delaware is part of a $694 million multistate settlement with auto lender Credit Acceptance, aimed at predatory lending practices and requiring stronger consumer protections, disclosures, and limits on dealer “packing” add-on products. State Economic Push: Delaware’s Division of Small Business is taking applications for the new $10 million Delaware Entertainment and Production Tax Credit, offering a 30% credit for qualifying projects with at least $100,000 spend in a 12-month period. Local Business & Talent: Junior Achievement of Delaware named new Delaware Business Leaders Hall of Fame laureates, with the Oct. 28 induction event supporting workforce and economic development programs. Community Spotlight: Newark Community Day returns Sept. 20 with free family activities, performances, and local vendors on the University of Delaware Green. Business Education: Hankamer School of Business dean David Szymanski opened office hours for students to boost cross-department collaboration and improve the school’s experience.

Delaware Energy & Utilities: Delmarva Power said a corrosion-related equipment failure caused a brief outage for 1,371 customers in the Bethany Beach area, with service restored after crews isolated a damaged switch. Consumer Finance: A multistate settlement totaling $694 million with subprime auto lender Credit Acceptance Corporation includes cash and major debt relief for affected borrowers, with Delaware among the participating states. Delaware Courts & Business Litigation: Delaware Chancery Court dismissed a stockholder challenge to Alteryx’s $4.4 billion sale after an overwhelming vote approved the deal, wiping out fiduciary-duty claims. AI & Legal Access: Courtroom5 launched a free ChatGPT Enterprise plugin offering civil-court intake, deadline calculations, and next-step guidance across all 50 states. Corporate/Deal Watch: VMIntelligence rolled out a self-service market research report builder aimed at strategy and investment teams needing faster, sourced reports. Business & Tech in Delaware: WRK Group said it has secured at least $7 million toward a $20 million goal to expand Wilmington social and educational programs. Markets & Costs: AAA reported gas prices continue climbing, with Delaware’s average at $4.36 and diesel hitting new regional record highs. Local Politics: A Kent County recount confirmed Morgan Hudson as the winner of Delaware’s 33rd State Representative District GOP primary by seven votes.

Chesapeake Bay Wildlife: A new study from the Center for Conservation Biology and William & Mary finds 2026 is the worst year ever for osprey in the Chesapeake, with average productivity at just 0.25 young per pair and 81% of saltier-region nests failing to fledge any young—raising fresh pressure on the menhaden debate. Delaware Policy & Agriculture: Gov. Matt Meyer signed the Delaware Farm to Community Program into law, locking in state support that connects farmers to local markets and helps food pantries and community groups buy fresh Delaware-grown food. Public Health: Delaware’s Division of Public Health issued a community measles alert after an out-of-state traveler visited the greater Rehoboth area while potentially contagious. Local Business & Growth: Newark’s new Free Library construction is progressing toward a fall 2027 opening, while Rockwell’s on Main opened in downtown Newark in the former Iron Hill Brewery space. Food & Community: Perdue Farms is donating about 181,000 meal equivalents to food banks across Delaware and neighboring states as part of Hunger Action Month. Corporate/Finance: HandsOn Global Management approved a strategic investment in Delaware-incorporated XBP Global Holdings, and BCB Bancorp priced a common stock offering. Energy & Infrastructure Politics: The U.S. House advanced a bill aimed at making data centers shoulder more of their electricity costs, a move tied to midterm backlash.

Delaware Politics: U.S. Rep. Sarah McBride sailed through Delaware’s Democratic primary unopposed and will face GOP nominee Joseph “Dr. Joe” Arminio in November, with Arminio’s campaign focused on inflation, debt and housing affordability. Delaware Elections: Delaware Republicans also picked Dr. Mike Katz for U.S. Senate, setting up a general-election matchup against Sen. Chris Coons. Corporate & Finance: BCB Bancorp launched an underwritten common stock offering and flagged problem-loan marketing in its third-quarter update, while Norwood Financial Corp declared a $0.32 per-share cash dividend and Greystone Housing Impact Investors announced a $0.14 per-BUC quarterly distribution. Legal & Business: Delaware Chancery backed Xonar’s board member ouster after combining stockholder consents, and UMG sued DistroKid in Delaware over alleged copyright infringement and “AI-generated slop.” Health & Public Safety: Delaware DPH warned of a measles exposure tied to an out-of-state traveler visiting the greater Rehoboth area on Sept. 4. Local Economy: New Castle’s Old New Castle is set for a short-term film shoot with traffic controls and a fake traffic light during Thursday-Friday filming.

Obamacare Refunds: President Trump says the federal government will refund about $500 per person to nearly 1 million Americans in 30 states, including Delaware, tied to alleged Biden-era Obamacare “user fee” overcharges from the federal exchange. Delaware Elections: Delaware voters picked nominees in the Sept. 15 primary, with Sen. Chris Coons advancing for a third term, Dr. Mike Katz winning the GOP Senate primary, and incumbent Kathy Jennings taking the Democratic attorney general nomination; on the GOP side, Joseph “Dr. Joe” Arminio won the at-large House primary to face Rep. Sarah McBride in November. Statehouse Politics: Progressives backed by the Working Families Party notched major wins in Democratic primaries, including new House and Senate seats and a New Castle County council win. Home Lending Snapshot: Delaware ranked 44th for total VA home-loan value in Q2 2026, with 592 loans totaling $238.3 million. Local Courts: Common Pleas civil filings listed multiple debt-collection cases, including suits involving Citibank NA, Credit Acceptance, and Westlake Services. Business & Legal Watch: A wave of securities class-action notices hit investors, including alerts tied to AEVEX, Dick’s Sporting Goods, Procept BioRobotics, Cogent Communications, Hims & Hers, HDFC Bank, and others.

Health Care Finance: The White House says it will refund about $500 per person to nearly 1 million Americans in 30 states, including Delaware, tied to alleged Obamacare “user fee” overcharges. Delaware Economy & Tax: Delaware collected $53.7 million in public utilities sales taxes in 2024, about 0.8% of the state’s total tax take, according to Census data. Port & Logistics: Ground broke on the Delaware Container Terminal in Wilmington, a public-private project aimed at nearly doubling container capacity by 2029. Data Centers & Water: AirJoule’s $27M acquisition of BitSink targets AI data-center cooling and electrical infrastructure, as water and power constraints shape new builds. Business & Courts: A Delaware Chancery Court ruling blocks Empery’s bid to appeal a proxy-fight decision, while Delaware federal court filings also keep Bloom Energy investor lawsuits in focus. Environment: Delaware expands free PFAS testing for private wells, with sampling and lab analysis covered for residents. Tech & IP: Universal Music Group sues DistroKid in Delaware over claims of “AI-generated slop” and deceptive practices.

Green Card Fight: A coalition of 22 states and D.C. sued to block the Trump administration’s “public charge” rule, arguing it would make green cards harder to get for immigrants who use benefits like Medicaid and SNAP—potentially straining hospitals and cutting participation in food assistance that supports local businesses. Delaware Primary Countdown: Delaware voters head to the polls Tuesday in the final pre–midterm primary, with Democrats defending statewide offices and Republicans seeking to break the state’s long Democratic hold. Port of Wilmington Expansion: After years of delay, Enstructure and the Diamond State Port Corporation broke ground on the $669M Delaware Container Terminal at Edgemoor, targeting early 2029 and nearly doubling capacity to 1.2M TEUs annually. Construction & Housing: Construction begins on the container terminal while local planning continues for the 140-unit Glover Residences, including preservation of the historic Glover House. Business & Consumer Watch: Rockwell’s on Main opened in downtown Newark, and Delaware drivers saw higher gas prices tied to Middle East turmoil. Legal/Deals: Toppoint Holdings plans to reincorporate from Nevada to Delaware, and a Delaware Chancery LLC dispute highlights how state law treats member rights and inspection rules.

Port & Logistics: Enstructure and the Diamond State Port Corporation broke ground on the Delaware Container Terminal in Wilmington, pitching major capacity gains and thousands of jobs—while the Edgemoor project still faces lawsuits and neighborhood health and traffic concerns. Food & Environment: Reading Terminal Market hit a milestone by diverting 1,045,931 pounds of organic waste from landfills, drawing EPA attention to composting and reuse efforts. Corporate Moves: Toppoint Holdings said it expects to reincorporate from Nevada to Delaware, with the effective date targeted for late September. Privacy & Compliance: Delaware expanded its Personal Data Privacy Act, adding new third-party due diligence and contracting duties that take effect Jan. 1, 2027. Immigration Policy: Delaware AG Nick Brown joined a multi-state suit to block a new DHS “public charge” rule that would let officials penalize lawful use of public benefits. Local Business & Jobs: Kensington Tours hired Daniel Jimenez as director of sales to deepen travel-advisor relationships across Delaware and the region. Agriculture: Linvilla Orchards said a late spring freeze wiped out about 90% of its apple crop, forcing smaller pick-your-own bags and sourcing adjustments. Health Care & Work: House Democrats introduced a bill to stop wage garnishment for medical debt, including in states like Delaware that already restrict it.