The Delaware Council on Development Finance will consider a Strategic Fund Grant for a business incubator project at the DuPont Experimental Station near Wilmington.
The council will meet on Monday.
Delaware Innovation Space is seeking up to $5 million over three years for start-up costs The incubator is a joint project of DuPont Co. and the University of Delaware.
DuPont earlier announced a $200 million project to upgrade the Experimental Station, the site of many of its biggest discoveries.
Only a portion of the research complex is being used and DuPont is believed to be looking for companies that would locate research operations at the site.
According to the agenda item, the Innovation Space would operate “for the purpose of conducting activities to supplement government economic and job development programs directed at encouraging the initiation, expansion, growth and maturation of start-up, small or expanding businesses with a potential for providing enhanced employment opportunities and contributing to the community revitalization and growth of the State of Delaware.”
The council will also consider a request to modify a $500,000 loan to Coastal Brewing Co., LLC, Dover.
The company is best known as Fordham-Dominion and produces soft drinks as well as beer. The loan was used to move the brewery from Ashburn, VA to Dover several years ago.
The council also might hold an executive session related to legal action and collection activities. No company was identified in the agenda.
Recommendations of the council go to the Secretary of the Delaware Economic Development Office for approval.
