State officials seek more money for strategic fund
Nov. 06, 2017
DOVER, Del. (AP) — State officials are seeking to boost the amount of taxpayer money used to incentivize businesses to locate and expand in Delaware.
In a budget presentation Monday, Department of State officials requested $15 million for Delaware's Strategic Fund next year, up from $10 million that the fund received this year and last year.
Officials say the money would be used to implement Gov. John Carney's strategic direction for economic development.
Carney signed legislation earlier this year replacing the Delaware Economic Development Office with a public-private partnership and creating a new office with the Department of State to focus on small business development and tourism.
The restructuring includes a budget provision deauthorizing up to 18 positions within DEDO and transferring up to $2 million in resulting savings to the strategic fund.