DuPont to spend $200M to upgrade Wilmington facility, create incubator

Delaware-based DuPont will spend $200 million modernizing its century old research facility including updates that will create an incubator for third-party science companies, multiple media outlets report.

Created in 1903, the Experimental Station sits on 150 acres and is the birthplace of many noteworthy DuPont products – like nylon, the first-ever fully synthetic fiber and neoprene, the world's first synthetic rubber, according to the company website.

DuPont CEO Edward Breen announced the $200 million investment during the Delaware State Chamber of Commerce's 180th annual dinner on Monday night, according to DelawareOnline.com, which said the 114-year-old facility will get new collaboration centers for customers and suppliers with DuPont and updates to lab space.

"I'm really excited about our plans for 2017," Breen said. "You are going to see more announcements from DuPont."

Aside from the real estate investment, DuPont also plans to spend $1.7 billion in research and development this year, up from last year's $1.6 billion, DelawareOnline.com said.

The announcements start 2017 off with a much different tenor for DuPont. In late 2015, the Wilmington-based company revealed plans to merge with Dow Chemical– a deal that would then lead to a split into three separate companies.

The merger stirred up economic fears in Delaware, where 1,700 jobs were cut and officials took steps to keep the company in the First State.

Eventually one of the spin-offs, Chemours, confirmed it would remain in Wilmington, although it just opted to sell the property where it is headquartered.

Source: Philadelphia Business Journal