A new state economic development initiative is just getting off the ground.
Transportation Infrastructure Investment Fund (TIIF) was proposed by Gov. John Carney a year ago, then approved and funded lawmakers. It’s now accepting applications for the first time.
“Last year Gov. Carney, after speaking with the business community, one of the things that he had heard was the need to really help streamline the process for getting projects off the ground more quickly. Working with DelDOT, we were able to go back and look at how we might be able to help economic development initiatives,” said DelDOT director of community relations C.R. McLeod.
He says the fund is accepting applications for projects from new or existing business with infrastructure needs that will help create jobs.
“Entrances and other improvements that may be needed as they look to grow their business. So it’s really a way to help address some of those other needs around their sites to ensure that traffic can move in easily and make sure they’re up to speed with all the necessary codes and regulations,” McLeod said.
The fund received $5 million from the State’s general fund and $5 million from DelDOT in its current budget. Gov. Carney is seeking another $10 million for the fund in his 2020 budget proposal.
A nine member council made up of 7 people appointed by Gov. Carney and two legislators will review applications and make recommendations on which projects to fund to DelDOT and the Department of State.
