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Division of Small Business

City of Wilmington

Specific Need:  Incubation/Coworking Business Planning Site Selection Operations Market Development Access to Capital    |   Target Population:  Women  Minority    |  Service Area(s):   New Castle  Wilmington    |   Industry:   Banking  Construction  Financial Services  Telecom  Industrial  Green Energy  Bioscience  Manufacturing  Chemistry  High-Tech  Retail  Food Service  Main Street  Small Business    |  Business Stage:  Expanding  Established  Start-up   

About this Organization

Wilmington (pop. 71,000) is Delaware's largest city. The city is synonymous with financial giants, like JPMorgan Chase, Barclays and Capital One, along with chemical companies, including Dow DuPont and Chemours. Employees at these business help provide a large customer base for a downtown packed with restaurants and other small businesses. Wilmington is part of the Downtown Delaware program and its downtown is designated a Downtown Development District.


Programs

A 50% match program that assists small businesses with covering the costs of architecture and engineering feasibility assessments
A program geared towards increasing accessibility for minority and economically disadvantaged entrepreneurs and small business owners. The program aims to get minority and economically disadvantaged persons owned businesses more involved in the city's procurement process and awarding said businesses increased numbers of city contracts
Offers expansion loans to established small businesses, manufacturers, or distributors, of 2 – 500 employees which have been established in the city for a minimum of two years
Funded by the city's Strategic Economic Development Fund, the program offers financial assistance in the form of grants, advances, or loans for small businesses in the city that incur relocation or workforce development costs and prove to have a positive economic impact on the city
An 8-week business planning and management training course that includes one-on-one business plan counseling, open to all Delaware small businesses and to Wilmington based small businesses at a discounted rate
5 year abatement of employers head tax ($15 per month per employee) for new businesses granted they hire 50 new employees. For businesses with 25 or fewer employees the 5 year abatement requires the business to make a 5 year commitment or invest in a city location. 10 year abatement of city real estate tax for commercial construction, redevelopment, or renovation
Assistance for private development by Wilmington small businesses intended to reduce the time and cost burdens associated with development
A tax exemption for businesses in the City of Wilmington on new or renovated manufacturing projects to alleviate the pressure of increased property value assessments resulting from development
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Contact this Organization

Primary Contact

Jeffrey Flynn


Website

https://www.wilmingtonde.gov/government/city-departments/office-of-economic-development


Address

800 North French Street, 3rd Floor
Wilmington, DE
19801


Phone

302-576-2128


Social Media

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