February 13, 2023

Warehousing and logistics have been and continue to provide opportunities for Delaware given its strategic proximity to several large markets. A CNBC story this morning points to inflationary pressures on consumer prices as nationwide warehousing shortages persist. One reason for the imbalance between warehouse supply and demand is the lack of new facilities coming into the market. “National warehousing capacity remains low and will remain tight for the foreseeable future as U.S. industrial construction starts have fallen considerably year-over-year due to rising interest rates,” said Chris Huwaldt, vice president of solutions at WarehouseQuote. 

The story goes on to report that, “Full warehouses and distribution centers have some shippers holding their products in containers on chassis, but this has them incurring charges which are passed on to the consumer. Shippers are given an allotted amount of free time during which they are not charged for holding a container, but once those days expire, per diem charges (late container charges that are charged for containers out of port) start to be charged.”

Delaware Manufacturing Association and presenting sponsor, DEMEP, are exploring the cost of doing business and the top economic pressures facing the manufacturing industry, at the Spring Manufacturing & Policy Conference on March 28. Register >

One- and five-year inflation numbers are out this morning from the New York Fed. Tomorrow, (Happy Valentine's Day) the January consumer products results are released. Wednesday brings us retail sales figures from January, industrial production index figures from January, and the National Association of Homebuilders index gives us an early look at February results. Thursday is jobs data, January building permits, and housing starts. The Philadelphia Fed manufacturing survey is public on Thursday too. We wrap up the week on Friday with the index of leading economic indicators and January results.

Advance Auto Parts, Avis Budget, and Denny’s are among the companies with earnings calls today. Coca-Cola, Airbnb, GoDaddy, TripAdvisor, and Weber have calls scheduled for Tuesday. Boston Beer, Cisco Systems, Fisker, Kraft Heinz, and Zillow have calls on Wednesday. DraftKings, Hyatt Hotels, US Foods, and Deere are among the others scheduled for later in the week. 

The sun will rise one day in 2044—no one knows the exact date—and according to researchers at the Center for American Progress, the American Enterprise Institute, and the Brookings Institution, Delaware will be a majority-minority state. And by 2060, USA Today predicts that New Castle County will be one of the most racially and ethnically diverse counties in America.

For Delaware’s business community, the challenge is not, “Are we ready to compete in this new future?” The real challenge is, “Are we doing enough, fast enough, to prepare our workforce?” Read more >

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