Delaware is Top Destination for Israeli Companies Incorporating in the U.S.
DOVER, DELAWARE — July 8, 2013 – Governor Jack Markell, the only sitting Jewish Governor in the United States, and a delegation of Delaware entrepreneurs and business leaders are visiting Israel on a week-long economic development mission that includes meetings with local economic and government leaders, as well as Israeli high tech and bio tech companies. The trip highlights Delaware’s strong economic ties to Israel and aims to further raise Israeli business interest in the State.
The delegation will be meeting with Israeli Prime Minister Benjamin Netanyahu, President Shimon Peres, U.S. Ambassador Daniel Shapiro, President of the Tel Aviv Stock Exchange Esther Levanon, the Ministry of Economy & Trade, The Israel National Economic Council, DuPont Israel (Delaware’s largest commercial presence in Israel), as well as several business incubators and venture capitalists.
“Delaware is an ideal choice for Israeli companies seeking to enter the U.S market,” said Markell. “We are one of the smallest U.S. states, but have succeeded in building an effective system that minimizes red tape for businesses, eliminates archaic regulatory hurdles, and provides business leaders with easy access to senior state officials. Our successful track record shows we provide an environment in which businesses can establish, grow and thrive.”
Delaware’s sophisticated business laws and its highly regarded courts make it one of the most favorable states in America for incorporation. More than one million businesses have their legal homes in Delaware, including 55% of all U.S. publicly traded companies, 64% of the Fortune 500 and 80% of new U.S. Initial Public Offerings. Additionally, thousands of Israeli-based businesses are incorporated in Delaware. Israeli high tech companies incorporated in Delaware gained access to global capital markets allowing them to raise billions of dollars over the last decade.
The Governor seeks to use this mission as an opportunity to strengthen existing Delaware-Israel ties and forge new relationships with Israeli business leaders looking to expand their operations to the U.S.
Markell took office in 2009 and brings unique public and private sector experience to the Office of Governor. He began his career in the private sector helping lead the wireless technology revolution as the 13th employee at Nextel (a name he coined), where he served as Senior Vice President for Corporate Development. His other business experience includes a senior management position at Comcast Corporation, work as a consultant with McKinsey and Company and as a banker at First Chicago Corporation.
In addition to his duties as Governor, Markell also heads the National Governors’ Association (NGA), a respected policy organization that represents the collective voice of the nation’s governors.
Traveling with the Governor are Delaware Economic Development Director Alan Levin, two Delaware business leaders, University of Delaware Vice Provost for R&D, members of the legal community and representatives from the Delaware Department of State.