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DE Statewide Economic Development Agencies

Delaware Economic Development Office
Jeff Stone
Director, Site Selection
99 Kings Highway
Dover, DE USA 19901
302-672-6849
jeff.stone@state.de.us
www.dedo.delaware.gov
Delaware Small Business Development Center Network
Delaware Technology Park, 1 Innovation Way, Suite 301
Newark, DE USA 19711
302-831-1555
www.delawaresbdc.org
Delaware State Chamber of Commerce
James A. Wolfe
President
1201 North Orange Street, Suite 200, P.O. Box 671
Wilmington, DE USA 19899-0671
302-576-6560
jwolfe@dscc.com
www.dscc.com
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

DE Utilities

Chesapeake Utilities Corp.
Eric Mays
Community Gas Systems Development Manager
909 Silver Lake Boulevard
Dover, DE USA 19904
302-734-6799
info@chpk.com
www.chpk.com

Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

DE Regional Economic Development Agencies

Bethany-Fenwick Area Chamber of Commerce
36913 Coastal Highway
Fenwick Island, DE USA 19944
302-539-2100
info@bethany-fenwick.org
www.thequietresorts.com
Central Delaware Economic Development
Dan Wolfensberger
Executive Director
P.O. Box 576
Dover, DE USA 19903-0576
302-678-3028
director@cdedc.org
www.cdedc.org
FTZ No. 99 Wilmington
John Pastor
Director of International Trade
Carvel State Office Building, 10th Floor, 820 North French Street
Wilmington, DE USA 19801
302-577-8477
john.pastor@state.de.us
www.state.de.us
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

DE County Economic Development Agencies

New Castle County Economic Development Council
Bob Chadwick
Director
P.O. Box 11247
Wilmington, DE USA 19850
302-294-2058
chadwickb@nccedc.com
www.nccedc.com
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

DE City Economic Development Agencies

Chamber of Commerce for Greater Milford
Rob Uebele
President
5 South Washington Street, P.O. Box 805
Milford, DE USA 19963
302-422-3344
milford@milfordchamber.com
www.milfordchamber.com
City of Wilmington
Joseph DiPinto
Director, Economic Development
City/County Building, 3rd Floor, 800 French Street
Wilmington, DE USA 19801-3537
302-576-2130
joseph.dipinto@state.de.us
www.ci.wilmington.de.us
Greater Delmar Chamber of Commerce
John G. Johnson
President
P.O. Box 416
Delmar, DE USA 19940
302-846-3336
galileo@bwave.com
www.delmar-chamberofcommerce.com
Greater Georgetown Chamber of Commerce
Debbie Hartstein
President
Georgetown Train Station, 140 Layton Avenue, P.O. Box 1
Georgetown, DE USA 19947
302-856-1544
info@georgetowncoc.com
www.georgetowncoc.com
Greater Millsboro Chamber of Commerce
Fran Bruce
Executive Director
322 Wilson Highway
Millsboro, DE USA 19966
302-934-6777
millsboro@intercom.net
www.millsborochamber.com
Greater Seaford Chamber of Commerce
Paula K. Gunson
Executive Director
304A High Street, P.O. Box 26
Seaford, DE USA 19973
302-629-9690
admin@seafordchamber.com
www.seafordchamber.com
Lewes Chamber of Commerce
Betsy Reamer
Executive Director
120 Kings Highway
Lewes, DE USA 19958
302-645-8073
inquiry@leweschamber.com
www.leweschamber.com
Middletown Chamber of Commerce
Jeffrey Buckworth
President
P.O. Box 1
Middletown, DE USA 19709
302-378-7545
peggy@middletownareachamber.com
www.middletownareachamber.com
Rehoboth-Dewey Chamber of Commerce
Carol Everhart
Executive Director
P.O. Box 216
Rehoboth Beach, DE USA 19971
302-227-2233
kristie@beach-fun.com
www.beach-fun.com
The City of Seaford
Tricia Newcomer
Economic Development Manager
414 High Street
Seaford, DE USA 19973
302-629-9173
tbooth@seafordde.com
www.seafordde.com
Wilmington Economic Development Corporation (WEDCO)
William C. Abernethy
Executive Director
Community Service Building, 100 West 10th Street, Suite 706
Wilmington, DE USA 19801
302-571-9088
info@wedco.org
www.wedco.org
Would you like to advertise here? call 732-559-1265 or email Jim Semple at jsemple@groupc.com

Delaware State Incentives

The state of Delaware takes a comprehensive approach in supporting businesses and entrepreneurs of all sizes and has special programs that play to Delaware’s strengths, including:

The DELAWARE STRATEGIC FUND: represents the primary funding source used by the Delaware Economic Development Office (DEDO) to provide customized financial assistance to businesses. For businesses considering locating in the State of Delaware, financial assistance may be provided in the form of low interest loans, convertible loans to grants, or other creative instruments to support the attraction of businesses hiring Delawareans.

SMALL BUSINESS INNOVATION RESEARCH (SBIR): The Delaware Strategic Fund represents the primary funding source used by for SBIR Bridge Grants. The SBIR Matching Grant program provides grants funds to businesses located in the State that have obtained a federal SBIR Grant.

BROWNFIELD GRANT PROGRAM: The Delaware Strategic Fund represents the primary funding source used for the Brownfield Grant program that helps reduce the capital expenditure of redeveloping a Brownfield site where at least five jobs will be created.

TAX CREDITS FROM NEW ECONOMY JOBS PROGRAM: Eligible businesses receive an initial 25 percent rebate on withholding taxes. To qualify, the business must add at least 50 new jobs, each of which must have an annual salary of at least $100,000. Participating businesses may receive a maximum rebate of up to 40 percent after 250 qualifying employees have been hired and the business operates within targeted growth zones, incorporated municipalities or former Brownfields. Qualifying firms are eligible for credits for a ten-year period.

TARGETED INDUSTRY TAX INCENTIVES: Businesses in targeted industries are eligible for tax credits of $400 for every $100,000 of capital investment, as well as $400 for every new job created. This credit can be used for a period of up to ten years. It requires a minimum capital investment of $100,000, which may not exceed 50 percent of annual pre-tax liability. Select commercial businesses may also qualify for a ten-year reduction in gross receipt taxes. Targeted industries include manufacturing, wholesaling, computer Processing, engineering, computer credit, aviation, telecommunications, laboratories and scientific research.

TARGETED LOCATION TAX INCENTIVES: Targeted industries (as defined above) that expand or relocate to targeted locations are eligible for corporate income tax credits of $650 for every $100,000 of capital investment, as well as $650 for every job created. This credit can be used for a period of up to ten years. Select commercial businesses may also qualify for a ten-year reduction in gross receipt taxes. Targeted locations include Targeted Census Tracts*, Government Owned Property, Foreign Trade Zones and Non-profit Owned Property for Economic Development

GREEN INDUSTRIES: Green manufacturers may be eligible for tax credits if they reduce chemical waste by 20 percent, reduce other waste by 50 percent, use 25 percent recycled materials in their manufacturing and take other steps to remove materials from Delaware’s solid waste stream.

BROWNFIELD TAX CREDITS: Businesses that develop property on former Brownfields and make more than a $100,000 capital investment are eligible for tax credits. Brownfields in targeted locations are eligible for a $900 credit for every $100,000 of capital investment and $900 for every job created. Those in non-targeted areas are eligible for a $400 credit for every $100,000 of capital investment and $400 for every job created.

PUBLIC UTILITY TAX REBATES: Tax Credits are available for a rebate of 50 percent of the public utilities tax imposed on new or increased consumption of gas and electricity for five years. The public utilities tax rate is 4.25 percent. The utility tax on the consumption of electric by licensed manufacturers and food or agribusiness processors is reduced to 2 percent. Additionally, electricity consumed in the manufacturing of automobiles is exempt from utility taxes.

BUSINESS FINDERS FEE (BFF): Existing Delaware companies that successfully recruit other companies to the state are eligible for a tax credit of $500 for each new job that the new company brings. This is an innovative new program that will help strengthen local supply networks and sectors.

LIMITED INVESTMENT FOR FINANCIAL TRACTION (LIFT): This loan program allows participating small businesses to defer interest payments on their line of credit for a two-year period. Eligible businesses must meet the following requirements:
· Have been in business for at least three years
· Have an existing line of credit with a Delaware commercial bank
· Have between 3 – 50 employees

SMALL BUSINESS ENERGY AND FACILITIES REVOLVING FUND: Created by a $500,000 grant from the U.S. Department of Commerce and matched with funds from the Delaware Strategic Fund, this fund provides loans at market or below-market interest rates to businesses that will create or retain jobs in industries that promote energy efficiency or recycling.

TAX-EXEMPT FINANCING: The Delaware Economic Development Authority (DEDA) provides statewide financial assistance to new or expanding businesses, governmental units and certain organizations that are exempt from federal income taxation (collectively, “assisted persons”) by issuing tax-exempt bonds and lending the proceeds of such bonds to these assisted persons. Tax-exempt bonds bear lower interest rates than comparable taxable bonds, because the interest paid to bond holders is exempt from federal and Delaware income taxes. DEDA is able to pass on this lower interest rate to the assisted persons. DEDA does not guarantee the payment of principal or interest on the bonds, and the bonds are not backed by the full faith and credit of the State. Tax exempt financing may be cost effective for projects involving the issuance of more than $1,250,000.

DELAWARE ACCESS PROGRAM: Designed to give banks a flexible and extremely non-bureaucratic tool to make business loans that are somewhat riskier than a conventional bank loan, in a manner consistent with safety and soundness. It is designed to use a small amount of public resources to generate a large amount of private bank financing, thus providing access to bank financing for many Delaware businesses that might otherwise not be able to obtain such access. Based on a risk-pooling concept, the approach is fundamentally different from the traditional type of insurance or guarantee program, such as the Federal Small Business Administration 7(a) Program, which guarantees a percentage of a loan on a loan-by-loan basis. When a bank makes a loan under the Program, the borrower pays a one-time premium charge, which is matched by a bank premium payment. DEDA then matches the combined total of the borrower’s payment and the bank’s payment. The borrower’s premium is one of the terms of the loan to be worked out privately between the bank and the borrower.

BLUE COLLAR TRAINING GRANT: Available to help Delaware businesses provide customized training programs to upgrade and/or retrain their employees and provide financial assistance to full time employees.


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