The Delaware Council on Development Finance recommended approval of grant requests from two companies that plan to add dozens of employees.
Carvertise, Inc. requested Delaware Strategic Fund Grant for $290,000 to expand operations in Wilmington. Mid-South Audio, LLC is seeking $103,800 to expand its operations in Milton.
The grants are based on applicants reaching specified benchmarks.
Carvertise plans to hire 50 people in Delaware. The company, founded by Mac Nagaswami Macleod and Greg Star – both graduates of Horn Entrepreneurship at the University Delaware – has seen 150 percent growth over the past three years.
Mid-South Audio’s grant will create six new jobs. The company currently has 12 employees. The company started out doing audio installations in the early 1980s. It has since has expanded by providing sound services to Delmarva and other areas.
Carvertise “wraps” cars with advertising content. The agency creates the campaign, wraps the cars and maps strategic routes. Drivers are compensated for the wraps.
The company has secured national partnerships, from companies such as EA Sports, 7-Eleven, Empire Today and Norwegian Air. The company has sales outposts in Philadelphia, Chicago, Dallas, and Los Angeles and has relationships with ride-share companies Uber and Lyft.
(Content includes information from Delaware Prosperity Partnership and the Delaware Division of Small Business)