Delaware’s Democrat governor is putting a lot of stock in a new law he signed last month that he believes will help stem the exodus of many top companies looking to leave the state for better alternatives, The Wall Street Journal reported.

Gov. Matt Meyer signed state bill SB21 on March 25, touting it as an initiative to “protect state revenue” amid a host of companies — Tesla, Meta, Dropbox, Walmart, Roblox, AMC and Madison Square Garden Entertainment among them — leaving Delaware or considering a move to states that would do more to protect them from shareholder lawsuits.

Nearly a third of Delaware’s income in 2024 was in corporation revenue, its second-highest source of revenue behind income tax (36%).

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