b'OPPORTUNITY LIVES HEREGovernment Incentives and SupportDelaware has a strong reputation for being business friendly, due to its strong support for businesses, responsible public sector agencies, and a thoughtful menu of initiatives and incentives. While the State as a whole benefits from various tax advantagesno sales tax, no state-level real estate tax, and no business use taxthis sub-section inventories the numerous incentive and support programs available to businesses in the Three Rivers area. CITY OF WILMINGTON INCENTIVES are judged to have a significant positive economic development impact. WilmingtonMadewas created in response to reduced sales atThe funding source is the Citys Strategic Economic Development Fund.local businesses during the pandemic. The program promotesNEW CASTLE COUNTY INCENTIVESlocal businesses, restaurants, stores, and cafes citywide.Business License Fee Waiverfor existing buildings (up to 12 months) or new Office Vacancy Incentiveprovides wage tax rebates and parking ratesbuildings (up to 36 months).comparable to suburban offices for qualified businesses that occupyBuilding Permit Fee Waiverfor signs, facades, underground utilities and office space in the Central Business District for at least 10 years. sidewalks.Property Tax Abatementis an incremental 10-year abatement of City of realProperty Tax Abatementsfor five years for improvement projects costing more estate taxes for making qualified improvements to any market-rate multi-familythan $25,000.residential or market-rate mixed-use property located in designated areas.Head Tax AbatementBusiness owners are required to pay head tax at theSTATE OF DELAWARE INCENTIVESsum of $15.00 per month for every employee in excess of five employed byThe Encouraging Development, Growth & Expansion (EDGE) grant program gives the licensee within the city. Head tax abatement is available for employersqualified STEM small businesses in Delaware access up to $100,000 for eligible who employ in excess of 50 full-time employees (including the businessexpenses.owner) and are committed to staying within the City limits for five years. Delaware Capital Access Programhelps lenders provide financing to businesses A&E Feasibility Assistanceis a grant program that offers a 50 percentdeemed too risky for the traditional banking model due to minor collateral or match (up to $15,000) for architectural and engineering feasibility workcredit issues. for for-profit small business developers to explore capital investments. Delaware Technical Innovation Programoffers transition grants for companies City of Wilmington Strategic Fundis used to make contractually basedthat have completed Phase I and applied for Phase II of the federal Small Business job creation and job retention incentive offers to private businesses. Innovation Research or Small Business Technology Transfer programs as they Grow Wilmington Fundis a real estate loan program, for qualified businesseswork to bring new products to market.in operation for at least two full years with 2 to 500 employees and revenuesThe Delaware Division of Small Business(DDSB) offers resources one-on-one generally between $500,000 and $20 million (subject to the SBA size standardsassistance and counseling to help small businesses start and grow in Delaware.by industry). Loan amounts typically range from $150,000 to $2,500,000. Tax-Exempt Bond Financingacts as the conduit issuer on bond for tax-exempt, Relocation/Workforce Development Assistanceprovides workforcenon-profit organizations.development grants, advances, or loans to businesses that establish operations in the City, incur relocation or workforce training costs in doing so, and Delaware Three Rivers Area Economic Development Master Plan 69'