State of Delaware Initiatives and Assistance
The State of Delaware offers a wide array of incentive programs to stimulate business growth, expansion, and relocation. Whether you are looking to relocate a Fortune 500 company or start a new business, the Delaware Economic Development Office provides many viable programs for loans, grants, tax credits, workforce training, small business growth, and more, all aimed at helping you gain the capital you need. Below is a list of State of Delaware administered programs that are currently available to Sussex County businesses.
For additional information on state incentives, including competitive small business and industry-specific loan programs, log onto http://dedo.delaware.gov/Incentives.
Sussex County Initiatives and Assistance
Sussex County Economic Development Office
Sussex County’s Economic Development Office exists to ignite business development by focusing on the retention, the recruitment, and the expansion of businesses throughout Sussex County. As such, we offer business incentives to companies that would have a significant impact on the County’s future economic health and vitality. Projects will be reviewed on a case- by- case basis by the Sussex Economic Development Committee, comprised of the Sussex County Administrator, the Sussex County Finance Director, the Sussex County Attorney, and the Sussex County Economic Development Director. The recommendation of the Sussex County Economic Development Committee is then presented to Sussex County Council for final approval.
Economic Development Fund
The Economic Development Fund represents the primary funding source used by Sussex County to provide customized financial assistance to businesses locating or expanding in the county. Financial assistance may be provided in the form of low interest loans, grants, graduated tax abatement and fee reductions. ED Fund – Preliminary Application.
Downtown Development Districts
Healthy and vibrant communities are a critical component to Sussex County’s economic well-being. The Sussex County Council recognizes this, and is proud to be a partner in Delaware’s Downtown Development District (DDD) program. State-approved projects in DDD communities can now earn an additional rebate – a 50 percent match of state funding for eligible construction costs, up to $10,000 – through Sussex County’s paralleling program.
To learn more about the County’s DDD incentive plan, view Sussex County’s Downtown Development District Grant. To learn more about the program, visit Downtown Development Districts Grant Program.
Business Acceleration Team
The Sussex County Economic Development Office is committed to reducing the road blocks that slow down the process of private investment projects. Our Business Acceleration Team is an important service that can help expedite and streamline county permitting and regulatory processes. Businesses meet one-on-one with our in-house team leaders to discuss the project and proposed changes. The Business Acceleration Team acts as an ombudsman – your direct line of communication – to agencies involved in your project which can significantly speed up the review process and save money.
We look forward to working with your business and we invite you to initiate your project today!