- Delaware Strategic Fund (Grants and Loans) are performance-based grants that are available to companies creating numerous new jobs and investment as an incentive to locate a project in Delaware.
- Transportation Infrastructure Investment Fund (TIIF) allows companies to make roadway infrastructure improvements that support job-creating projects in Delaware.
- Graduated Lab Space Grants Eligible applicants may apply for a grant of up to 33% of the fit-out or building costs for the lab space portion of the space (at a rate of up to $150/ft, for a space of up to 20,000 sq ft per company).
- Site Readiness Grants help cultivate a resource of commercial, industrial sites that are readily available to new businesses that are considering moving to the State, or existing businesses within the State that need additional sites to remain or expand within the State.
- Workforce Training Grant is a matching program that funds specialized training for companies of up to $100,000 per project.
- Delaware Capital Access Program and State Small Business Credit Initiative Participation Loan help lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issues.
- Delaware Technical Innovation Program (SBIR & STTR) offers transition grants for companies that have completed Phase I and applied for Phase II of the federal Small Business Innovation Research or Small Business Technology Transfer programs as they work to bring new products to market.
- EDGE Grants (Encouraging Development, Growth & Expansion) are provided to help businesses cover a wide range of eligible expenses. Available grants up to $50,000 for Entrepreneur Class and up to $100,000 for STEM Class.
- Downtown Development Districts Rebate Program is available for investors who make Qualified Real Property Investments (QRPI) to commercial, industrial, residential, and mixed- use buildings or facilities.
- Low Interest Commercial Loan Program can grant businesses up to $2,000,000 per project.
- Commercial property assessed clean energy, or C-PACE (or D-PACE) is designed to help qualifying property owners access long term financing for the installation of qualifying energy improvements.
- New Economy Jobs Tax Credit is available for employers who add at least 200 new jobs in the state with an annual salary averaging $70,000, or 50 new jobs with salaries of at least $120,000 within one year; previous year may be prorated. The refundable credit may be claimed against the Corporate and Personal Income Taxes, Bank Franchise Tax, Insurance Premium Tax, Gross Receipts Tax, or most other State taxes. It’s available for up to 40% of the withholding taxes collected and paid on behalf of the new employees. Qualifying firms are eligible for credits over a ten year period. Eligibility in each year during that period is independently determined.
- New Business Facility Tax Credits encourages startup and investment into new business facilities. Eligible businesses must create 5 new jobs and provide a capital investment of $200,000 ($40,000 per employee). The minimum credit is $500 per employee hired and $500 per every $100,000 in capital investment. Credit increases in targeted and brownfield site areas. Credits can be used for the year the facility is placed in service and for the subsequent 9 taxable years. Unused credits carry forward for up to 10 years.
- Public Utility Tax Rate Reduction offers eligible manufacturers a public utility tax rate reduction (2% from 4.25%).
- Gross Receipts Tax Rate Reduction Program offers companies a reduction of 5% to 90% of the gross receipts tax attributable to the new facility over a period of 10 years. Or, over 15 years if located in a targeted area.
- Headquarters Management Corporations Tax Credits Headquarters Management Corporations (HMC’s) are entities treated as a corporation under the Internal Revenue Code of the United States that may be entitled to generous tax credits, which, by adding as few as five employees, eliminate 99% of the corporate income tax otherwise due. These credits are available for ten years.
- Business Finder’s Fee Tax Credit Incentivizes existing companies to encourage customers, suppliers, and service providers to operate in Delaware.
- Research and Development Tax Credits is a refundable credit that lowers payments on taxable expenses. Two methods are available to determine the credit, which may be claimed against the Corporate and Personal Income Taxes. Small businesses (under annual gross receipts of $20 million) are eligible for additional tax credit. There is not a cap on total tax credits.
- Historic Preservation Tax Credit Promotes the rehabilitation of historic properties. A credit of 20% to 40% of qualified expenditures is available. The credit may be sold or transferred. Neighborhood Assistance Tax Credit can be applied against the Personal and Corporate Income Taxes can be given at 50% of the approved investment. Individuals with Disabilities Tax Credit Incentivizes Delaware employers to hire job candidates referred by vocational rehabilitation facilities. There are 25 Opportunity Zones across Delaware. The program defers the payment of capital gains until Dec 31, 2026. And can reduce the taxes owed by up to 15% after 7 years. Can eliminate tax on gains earned from the Opportunity Fund if the investment is held for 10 years. County and Municipality Assistance is provided to assist with expansions and new locations. The DPP can assist companies with introductions to community Economic Development Partners throughout the state.
- The Research & Development Tax Credit may be earned for performing R&D in Georgia (each tax year the credit is equal to 10% of qualified R&D expenditures, minus a base amount). The R&D tax credit is applied to 50% of the company’s net Georgia corporate income tax liablity after all other credits have been applied; then any excess may be used to offset the company’s state payroll withholding.
