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.
The ExciteSussex Fund
We are working to help companies grow their business in Sussex County with longer term loans and below market interest rates. This is a public, private partnership with Discover Bank and The National Development Council to grow economic development in Sussex County.
Sussex County Opportunity Zones
Delaware identified 25 census tracts that have been approved by the U.S. Department of the Treasury as Opportunity Zones. Five of those zones are in Sussex County — Milford, Georgetown, Laurel and Seaford including the Seaford Nylon Capital Shopping Center. Today, investors are eligible for federal tax incentives in these low-income, economically depressed zones.
These Opportunity Zone designations will assist ongoing community development efforts and encourage additional private investment. As a result, qualified investors in the zones will become eligible for federal tax incentives. As growth moves westward from the coastal areas, these new incentives help make central and western Sussex the new frontier.
Another initiative, the designation of Downtown Development Districts, are located within several Opportunity Zones in Sussex County. Many of these Downtown Development Districts offer additional state, county and municipal incentives for downtown development.
Investors can begin to stack these incentives, coupled with Opportunity Zone and Downtown Development Districts incentives, to make their investments even more beneficial.
Downtown Development Districts
Recognizing that healthy and vibrant downtowns are critical components of Sussex County’s economic well-being. Sussex County Council is proud to be a partner in Delaware’s Downtown Development District (DDD) program. Sussex County is providing a matching grant incentive to be utilized in any Downtown Development Districts approved by the Office of State Planning and located in Sussex County. This matching grant would be dependent upon all limitations and conditions as established by the Delaware State Housing Authority (DSHA), and would only be provided as a match to and in instances where a State of Delaware grant has been approved by the DSHA.
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.
Sussex County Economic Development
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.
Contact us today so we can begin working on your next project! How may we help you?
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.
Financial Incentives offered through Delaware Division of Small Business
For additional information on state incentives, including competitive small business and industry-specific loan programs, log onto https://business.delaware.gov/