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:
Small Business Limited Investment for Financial Traction (LIFT)
Small businesses need capital to build and grow. The LIFT Program is designed to allow participating small businesses to defer interest payments on their line of credit for a two-year period.
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.
The Virtual Emerging Technologies Incubator
The Virtual Emerging Technologies Incubator provides services to start-up technology firms - including general legal advice, accounting, marketing, financial, and patent and trademark services - via the Internet, webcasts, interactive sessions, self-paced learning modules and more.
The Experimental Program to Stimulate Competitive Research (EPSCoR)
EPSCoR is a National Science Foundation program that provides states with a two-to-one match of funds invested to stimulate research. Delaware's $4.5 million investment has leveraged an additional $9 million to support research and technology transfer at Delaware's colleges and universities.
Clean Energy Research Center
The Clean Energy Research Center provides grant funds and support for the fuel cell industry.
Small Business Innovation Research (SBIR) Grant
The SBIR Matching Grant program provides grants funds to businesses located in the State that have obtained a federal SBIR Grant for early stage innovative projects.
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.