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Incentives Take Center Stage in Delaware’s

Economic Development Strategy

S ussex County is proud to announce that its successful The Delaware Division of Small Business has brought
EDGE Grant
ExciteSussex low-interest loan program is now more
robust than ever.
back its popular EDGE Grant program after a brief hiatus.
A few years ago, the County, along with Discover Bank, The grant program provides qualified small businesses
launched the loan program with $4 million. With the “an edge” for accessing capital. There are two categories:
County’s committment to business development, Sussex Entrepreneur, which provides up to $50,000 per applicant,
County Council and Discover Bank agreed to increase and science-technology-engineering-match (STEM) based,
their contributions—creating a $24 million revolving loan which provides up to $100,000 per applicant. To qualify,
program. businesses must be newer than five years and employ 10 or
fewer workers. Businesses must have the majority of their
Now more than ever, Sussex County is highly competitive
operation located in Delaware and not have previously
with surrounding counties and states when it comes to
received a state grant.
incentivizing businesses to relocate or expand in the county.
business.delaware.gov/edge
Coupled with its own low-interest loan program and the
number of statewide incentives that are available, the timing Delaware Strategic Fund
is right for businesses to take advantage of these programs. (Capital Investment)
Projects that require major capital investments and
Excite Sussex that represent targeted industries and create new jobs
Low-Interest Loan program with sustainable wages and benefits may qualify for cash
incentives that will offset major capital investment. Terms
The ExciteSussex loan program is a private-public
are negotiated specifically for each applicant’s needs and
partnership among Discover Bank, the Grow America
situation with a maximum limit of three percent of capital
Fund and Sussex County, providing low-interest, long-term
expenditures.
loans to qualified applicants. The federally guaranteed loan
business.delaware.gov/incentives
program is open to borrowers who have at least 10 employees
and have been in business for at least two years. Delaware Strategic Fund
The loans may be used for machinery and equipment; real (Performance Based)
estate acquisition and renovations; and tenant improvements. Financial assistance is available in the form of low-interest
Closing costs may be financed, and there is no application loans, grants or other creative instruments for qualified
fee. Loan applications are evaluated by the County and businesses that pay sustainable wages, with assistance terms
managed by the Grow America Fund. Qualified applicants that are negotiated specifically based on each applicant’s
can borrow between $250,000 and $1 million terms ranging needs and situation. Performance is based on job creation.
from 10 to 25 years. business.delaware.gov/incentives
excitesussex.com/exceed/incentives

Sussex County Economic
Development Districts
In an effort to spur growth in certain parts of Sussex
County, opportunity zones have been designed in Milford,
Georgetown, Laurel and Seaford, which overlay strategically
with the County’s three growth zones including the
Nanticoke Zone, the Broadkill Zone and the Indian River
Zone. In addition, the state’s opportunity zone designations
will assist ongoing community development efforts and
encourage additional private investment. As a result, qualified
investors in the zones will become eligible for federal tax
incentives. excitesussex.com/exceed/incentives

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