Delaware Incentives Information


Citizens Bank Business Loan

Citizens Bank has formed a partnership with the State of Delaware to create the Citizens Business Bank. This "first of a kind" program features the Citizens Competitiveness Fund; a $12.5 million low-interest loan program designed to make one-time investments to create and retain jobs and expand business at existing Delaware companies. This partnership will provide companies with an attractive form of capital -- at below market rates -- while leveraging the impact of the Governor's economic stimulus policies and providing additional resources to insure continued business growth and stability.

The jobs that are created/retained because of these loans can serve as employment opportunities for people with disabilities.

Click here to see an online slide presentation about Citizens Competitiveness Fund loans.

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Corporate Income Tax Credit

Corporate income tax credits and gross receipts tax reductions are available to businesses in a variety of industries. To qualify for this tax credit, a business must invest a minimum of $200,000 in a new or expanded facility and hire a minimum of five new employees.

An employer can use this tax credit as an incentive for an employer to create new jobs, especially for people with disabilities.

 

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DART - “Business Partners in Transit” Program

The Business Partners in Transit Program web site has information on a program that offers tax and transit benefits to Delaware employers who encourage their employees to use the DART system. With this program, employees can also receive $105/month towards transportation costs.

This program is advantageous to both Delaware employers and their employees, especially the ones with disabilities who often need added financial incentive in order to enter the workforce.

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Delaware Access Program

The Delaware Access Program is designed to give banks a flexible and extremely non-bureaucratic tool to make business loans that are somewhat more risky than a conventional bank loan, in a manner consistent with safety and soundness. It is designed to use a small amount of public resources to generate a large amount of private bank financing, thus providing access to bank financing for many Delaware businesses that might otherwise not be able to obtain such access.

These loans can be used to purchase ADA compliant property or Assistive Technology to make a disabled employee more productive. Job creation, especially for people with disabilities, is another appropriate use of these loans.

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Delaware Assistive Technology Initiative (DATI) - Assistive Technology Low-Interest Loans

This web site has information on loans offered through DATI to purchase Assistive Technology, home modifications, computers and adaptive vehicles

Assistive technology is any device that enables a person with a disability to be more functional. Using the proper technology at work will allow a disabled person to be more productive, and in turn, a better worker. Because of the increased productivity, it is wise for an employer to invest in Assistive Technology for disabled employees.

Click here for an overview of funding resources available for Delaware businesses and residents who need assistive technology.

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Delaware Strategic Fund Assistance

The Delaware Strategic Fund represents the primary funding source used by The Delaware Economic Development Authority to provide customized financial assistance for job retention, creation or other economic development projects within the state.

This financial assistance can be used to purchase ADA compliant property or Assistive Technology to make a disabled employee more productive. Job creation, especially for people with disabilities, is another appropriate use of these funds.

 

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Division of Vocational Rehabilitation (DVR)

DVR provides opportunities and resources to eligible individuals with disabilities leading to success in employment. The following web site gives information on the services DVR offers to businesses who hire their clients. Some of these services include recruitment, employee training and workplace accommodations.

In some cases, DVR will purchase Assistive Technology for their clients. This web site gives pertinent information on eligibility requirements and the laws governing DVR purchasing Assistive Technology.

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Subsidized Training

For new and expanding businesses and business retention purposes, subsidized training programs can be arranged. The amount and type of subsidy are determined by the size of the business, its potential impact on Delaware's economy, and the availability of other training resources. Programs are developed to meet the stated hiring needs and skill levels of specific businesses. Businesses utilizing the training maintain total control of the hiring decisions.

Frequently, people with disabilities don’t have the skills necessary to obtain and keep competitive employment. With this training, disabled employees can gain the skills needed to get a job and successfully advance in their career.

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Targeted Area Tax Credit

Businesses that qualify for targeted industry credits must be located in a targeted area and qualify for corporate income tax credits of $650 for each new employee and $650 for each new $100,000 investment. Targeted areas are defined as: (a) real property that is owned by any level of government or any of their agencies; (b) real property owned by a non-profit organization, which is organized and operated solely for the purpose of fostering economic development; and (c) real property which has been approved as a Delaware Foreign Trade Zone.

Click here for more information on Targeted Area Tax Credits.

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