New Castle County, Delaware
"The First County in the First State"
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Marcus A. Henry
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87 Read's Way
New Castle, DE 19720
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
New Castle County Government offers tax-exempt bond financing for projects relating to infrastructure, energy, community development and other economic development purposes.
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.
Route 9 and 13 Corridors Economic Development Plan
New Castle County, along with area stakeholders, are undertaking an economic development plan for the Rt. 9 and 13 commercial and industrial corridors located just south of Wilmington, as well as the City of New Castle. The plan capitalizes on the area's infrastructure and assets, and assists small and medium sized business, as well as exporters.
Qualified Energy Conservation Bonds
New Castle County is offering Qualified Energy Conservation Bonds (QECB), which are designed to provide low-interest financing for green energy and energy efficiency projects for qualifying businesses. Projects must be located in qualifying districts, and over 90% of the county is eligible. The U.S. Department of Energy (DOE) provided New Castle County with a $1.62 million QECB issuance allocation. View the details of this program at:
View a map of areas eligible for QECBs:
QECB Designated Areas
Delaware Economic Development Office (DEDO) Programs
The Delaware Economic Development Office
(DEDO) works to attract investors and businesses to the State, promote the expansion of existing industry, assist small and minority-owned businesses, promote and develop tourism and create new and improved employment opportunities for all citizens of the State. This includes serving as a liaison to the business community and government agencies, and planning and funding economic development initiatives. DEDO's support to business includes:
State Small Business Credit Initiative (SSBCI)
Under the Small Business Jobs Act, Delaware can access $13.1 million in funds for new small-business lending in Delaware to lower the borrowing rate and credit risk.
Delaware Access Program
The Delaware Access Program is private-public match program that provides access to bank financing for qualifying Delaware businesses that may have difficulty obtaining conventional financing.
New Jobs Infrastructure Program
The New Jobs Infrastructure Fund provides flexible funding for public infrastructure projects that are critical and immediate for large businesses locating or expanding in Delaware. There are $55 million in this fund, which can be used for projects relating to transportation, sewer, water, energy, land stabilization and other infrastructure. Applications are reviewed on a rolling basis and require a public sector co-sponsor. New Castle County Government seeks to co-sponsor projects within the county.
Delaware Rural Irrigation Program (DRIP)
A revolving loan fund, administered collaboratively through the Delaware Department of Agriculture and the DEDO, is available to qualified Delaware farmers to add new irrigation systems in an effort to increase the amount of irrigated cropland in Delaware.Under the Small Business Jobs Act, Delaware can access $13.1 million in funds for new small-business lending in Delaware to lower the borrowing rate and credit risk.
Brownfield Assistance Program
Encourages the redevelopment of environmentally distressed sites within the state by helping to reduce related capital expendatures. DEDO administers the program in collaboration with the Department of Natural Resources and Environmental Control
Local Municipality Programs
City of Newark Facade Improvement Program:
The City of Newark, using Federal Community Development Block Grant monies, provides a 0% interest loan program for fa?ade 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 or visit their website for more information.
Wilmington Tax Exemption for New or Renovated Commercial or Manufacturing Projects:
New or renovated commercial or manufacturing projects located within the corporate limits of the City of Wilmington are eligible to receive a partial tax exemption on the increase in the New Castle County portion of property tax attributable to the new construction. The cost of new construction and/or the cost of site acquisition and construction must exceed fifty thousand dollars ($50,000.00). The tax exemption is applicable to all new or renovated commercial or manufacturing projects first assessed on the property tax records after August 22, 1978. Residential structures are exempt.
About New Castle County