Grants offered to local businesses to spur economic development
GEORGETOWN, Del. – Sussex County is investing grants in local businesses that they hope will lead to more economic growth.
The Economic Gardening Grants Program has been used successfully nationwide since 2001, but it’s now being utilized in Delaware for the first time.
Businesses in their second phase can apply for one of the five $5,000 grants. Eligible businesses are those that have 10-99 employees, with annual sales revenues between $1 million and $50 million.
Through Economic Gardening around the nation, participating businesses have tripled sales tax revenues from $6 million to $21 million without incentives, recruiting or tax rebates, and officials hope to duplicate that success locally.
“Those businesses will have the opportunity to grow from a regional standpoint, not only will they be able to grow in Delaware, but they’ll be able to grow beyond the boundaries of Delaware,” said the Sussex County economic development director Bill Pfaff.
Applications are available by calling the Sussex County Economic Development Office at 302-855-7770. The deadline to apply is August 26.