Application period open for state Site Readiness Fund

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The Delaware Division of Small Business is accepting applications for the Site Readiness Fund.

The Site Readiness Fund provides grants, loans, or other economic assistance to qualified businesses or local governments that invest in constructing, renovating, or improving commercial, and industrial sites that are readily available to new businesses, established businesses that are considering moving to the state, or existing businesses within the state that need additional sites to remain or expand in Delaware.

“We are competing every day with surrounding states to attract and keep vital businesses and jobs here in Delaware,” said Regina Mitchell, acting director of the Division of Small Business. “The Site Readiness Fund is an important tool that allows us to support infrastructure investments so our state can stay competitive and incentivize businesses to relocate here. I encourage businesses, municipalities, and others interested in improving sites throughout Delaware to submit an application for Site Readiness funding.”

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“The Site Readiness Fund creates more viable options for companies looking to locate or expand right here in Delaware,” said Kurt Foreman, CEO of the Delaware Prosperity Partnership. “The fund provides an investment in ensuring that sites throughout the state are ready for the kinds of development and job growth we all value.”

The fund, which has drawn scattered criticism from critics for being a form of “corporate welfare,” or encouraging suburban sprawl, was created when business leaders noted that needed for transportation and other improvements took too long when compared to other states.

Applications will be accepted on a rolling basis until all funding has been awarded. Site Readiness Fund applications are available at business.delaware.gov/site-readiness-fund. Completed, applications can be emailed to business_finance@delaware.gov.

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