Council on Development Finance approves eight Site Readiness Fund projects
Eight Site Readiness Fund project applications are moving forward in Delaware.
The Council on Development Finance approved the projects totaling $6.2 million, with three each in New Castle County and Kent County and two in Sussex County.
Three more applications requesting a total of $3 million will be considered next month. The fund has $10 million allotted for this year.
The Site Readiness Fund provides grants, loans, or other economic assistance to businesses or local governments investing in constructing, renovating or improving commercial and industrial sites.
Jessica Welch is with the Delaware Division of Small Business.
"The idea is that if we can provide funding to help get these sites renovated or up and running businesses who are looking to relocate to Delaware will be more likely to do so because we have these sites ready to go, or businesses that are already in the state that need to expand they'll also have an opportunity to use one of these sites because it's already ready to go and ready to be built upon for their project."
Welch says the goal is to make sure projects are spread out throughout the state.
"We held webinars. We reached out to all three counties, their economic development offices, in case they knew of projects that needed some funding. So that was really important to us to be able to create jobs from Claymont down to Frankford."
Projects approved include:
- $1 million to the Chestnut Run Innovation and Science Park partners to modernize campus infrastructure of the Chestnut Run Innovation and Science Park, which was designed to combine research, advanced manufacturing operations and business incubation while cultivating relationships with local universities. Funding will be used to improve site lighting and utilities, paving and concrete, and for selective building demolition.
- $1 million to the City of Harrington for proposed redevelopment of an industrial park on three properties on U.S. Route 13 totaling 131 acres. Funding will be used for engineering and planning of the project and roadway and utility work.
- $1 million to Drawbridge Claymont to support the development of an industrial site on 58 acres at 6300 Philadelphia Pike in Claymont. Funding will be used for demolition and engineering services.
- $1 million to E & D Holdings to support continued development of the Wyoming Business Center at 140 and 146 Southern Boulevard in Wyoming. Funding will be used to prepare the site, install infrastructure and utilities, and construct two new warehouse buildings.
- $1 million to Martin Property Development to support development of 112,000 square feet of flexible industrial warehouse space on 10.9 acres of commercial property in the Frankford Business Park. Funding will be used for civil engineering, earthwork, sitework, and utilities.
- $1 million to Sussex County to create new shovel-ready sites at the Delaware Coastal Business Park near Georgetown. Funding will be used for road improvements, utilities, and supporting infrastructure.
- $100,000 to the City of Milford to support planning for the development of an industrial/business park on a recently purchased 182-acre lot on Milford Harrington Highway. Funding will be used to develop a master plan, conduct a traffic impact study, and complete engineering design.
- $100,000 to Shanlan Corporation to support planning for the development of the St. Georges Logistics Center at 1870 Dupont Parkway in Middletown, which is conceptually designed to include three buildings totaling more than 2.5 million square feet of warehouse facilities. Funding will be used for engineering fees and transition surveying.