Delaware Division of Small Business accepting Site Readiness Fund applications
Local governments and qualified businesses can now apply for the Site Readiness Fund to the Delaware Division of Small Business.
The Site Readiness Fund provides grants, loans, or other economic assistance to businesses or local governments that invest in commercial or industrial sites.
The goal is to help those entities prepare potential sites for immediate move in for new and expanding businesses in Delaware.
Jessica Welch is with the Delaware Division of Small Business, and she says this is an important way for the state to compete with other states in the region.
"So this is really just another tool in our economic development toolbox that we can use to try to get those businesses to set up shop here in Delaware, and to create jobs or to retain jobs if they're thinking of expanding," said Welch.
Welch says there are two types of grants that investors can apply for.
"There are two different levels. The first level is what we call level 1. So those are grants awarded up to $100,000 and really that's for initial studies and activities for a site. It's really for the early stages of developing a site,” said Welch. “And then level 2 grants are up to 1 million dollars, and that's for more advanced activities, if they have to improve lighting, if they have to do any infrastructure improvements, things like that for a site."
Welch notes there’s about $10.8 million left in the Site Readiness Fund, and applications will be accepted on a rolling basis until all funding has been awarded.
Businesses and local governments can apply at the Division of Small Business website.