Tag: Tax Incentives and Financing

Delaware top overall affordability in US

Delaware Tops in Overall Affordability

Delaware Among Top Places in U.S. For Overall Affordability

Delaware top overall affordability in US

WILMINGTON, Del. – Delaware, perhaps most well-known for having no statewide sales tax, continues to top the charts as one of the U.S.’s most affordable places to live. While most northeastern states rank among those with the highest property tax burdens, property taxes throughout Delaware remain among the lowest in the United States. Delaware is the sixth lowest, according to a 2021 report from WalletHub. These lower costs of homeownership result in 75% of the state’s households owning their own home.

Three-quarters of the state’s homeowners spend less than $2,000 a month on housing and about 85% of the state’s renters spend less than $1,500 a month on housing, according to Delaware Prosperity Partnership.

Over the last decade, Delaware also has the fastest-growing population along the nation’s northeast corridor. Delaware is located at the center of the U.S.’s largest consumer market. Its central geographic location and the presence of a diverse industrial base combine to create a wide variety of business and earning opportunities, contributing to a statewide median income of $68,287, based on the American Community Survey collected by the U.S. Census Bureau.

All of these attributes, combined with its business-friendly tax structure, make Delaware one of the most affordable choices for businesses looking to locate here and workers thinking of a move. 

“Since DPP began three years ago, we have closed 45 projects, which include businesses new to the Delaware market and Delaware-located businesses choosing to grow here,” explained DPP CEO and President Kurt Foreman. “Combined, these projects are expected to result in more than $1.39 billion in capital investment and nearly 5,000 new jobs in Delaware. These figures not only speak to the collaborative nature of the DPP model, but also underscore Delaware’s can’t-be-beat value proposition, from excellence in education and health care, easy access to one of the best coastlines in the U.S. and one of the most affordable places in the country.”

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About Delaware Prosperity Partnership

Delaware Prosperity Partnership leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying and developing talent. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.

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Site Readiness Fund Delaware Division of Small Business

Delaware Launches New Site Readiness Fund

Delaware Launches New Site Readiness Fund – Online Application Process

Site Readiness Fund Delaware Division of Small Business

The Delaware Division of Small Business is now accepting applications for the Site Readiness Fund from qualified businesses or local governments. Established through Senate Bill 127, the fund promotes economic growth and stability by investing in the development or improvement of commercial and industrial sites to attract job-creating businesses.

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, 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.

“There is significant competition between Delaware and surrounding states to attract and keep vital businesses that create and maintain employment opportunities,” said Jordan SchultiesDirector of the Division of Small Business. “The Site Readiness Fund is an important tool we can use to stay competitive and incentivize those businesses to locate in our state.”

“The Site Readiness Fund creates more viable options for companies looking to locate or expand right here in Delaware,” said Kurt Foreman, President and 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.”

Site Readiness Fund applications are available at business.delaware.gov/site-readiness-fund. Once completed, applications can be emailed to business_finance@delaware.gov.

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kent county small business and hospitality grants 2022

New Kent County Small Business Grants

New Kent County Small Business Grant Program

kent county small business and hospitality grants 2022

January 6, 2022 –

Attention Kent County Small Businesses!


Kent County Levy CourtCentral Delaware Chamber of Commerce and Kent County Tourism have launched a new $3 million grant program for Kent County small businesses. Grant funds are available for small businesses with 100 or fewer full-time employees who had established operations in Kent County during calendar years 2020 and 2019 and are in still in operation today. Grant funds can be used to directly support the operation of the business.

 A similar $2 million grant program was also launched for Kent County hotel and banquet/meeting facilities. Eligible organizations include hoteliers and for-profit banquet/meeting facilities with established operations in Kent County during calendar years 2020 and 2019 who are still in operation today.

Both grant programs are currently accepting applications. The deadline to apply is March 31, 2022, or when funds are exhausted for the grant programs.

Visit the Kent Count Small Business Grants website to apply for a grant and get answers to frequently asked questions.

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