There are several innovative programs at the state, county, and local levels to invest in the success of your business and help you grow.
New Castle County Programs
Partial Property Tax Exemption
Businesses that invest at least $50,000 in new construction of commercial or manufacturing facilities in unincorporated areas of the county are eligible for a three year partial property tax exemption for the incremental increase in property assessment due to the new development in excess of $50,000. The tax exemption is applicable to only the New Castle County portion of real estate taxes.
New Castle County's Redevelopment Ordinance encourages smart growth and revitalization of older communities by offering incentives and accelerated permitting for entities that redevelop brownfields and existing vacant properties.
Grow Delaware Fund
The Grow Delaware Fund Helps Support Economic Development And Meet Small Business Financing Needs Throughout Delaware. Learn more here: Home - Grow Delaware Fund
Brownfield Development Program
The Brownfield Development Program encourages the cleanup and redevelopment of vacant, abandoned or underutilized properties which may be environmentally contaminated. Learn more here: Brownfields - DNREC Alpha (delaware.gov)
Local Municipality Program
City of Newark Facade Improvement Program:
The City of Newark, using Federal Community Development Block Grant monies, provides a 0% interest loan program for facade improvements. Newark property owners and businesses may qualify for loans up to $2,000 for each project. Eligible activities include painting, siding, signs, landscaping, doors, window treatments, awnings, canopies and lighting. Contact the Planning and Development Department at 302-366-7030 . Learn more here: Newark Facade Improvement Program | Newark, DE - Official Website (newarkde.gov)