b'OPPORTUNITY LIVES HEREBrownfield Assistance Programoffers matching grants to property ownersThe American Rescue Plan Actand developers to encourage redevelopment of environmentally contaminatedThe American Rescue Plan Act (ARPA), signed into law in early 2021 by sites.President Biden, provides nearly $1.9 trillion in funding to states, counties, Transportation Infrastructure Investment Fund (TIIF)provides reimbursmentand municipalities across the country to spur recovery from the COVID-19 grants to new or expanding job-generating businesses in the state to help offsetpandemic.their transportation improvement costs. The State of Delaware will invest $925 million in one-time funded projects Angel Investor Job Creation and Innovation Tax Creditwas established toacross the state that meet pandemic response needs, build stronger and incentivize early-stage investment in high-tech, Delaware businesses tomore equitable communities hit hard by the pandemic, provide economic encourage job creation and innovation. The credit for an investor is 25% ofstabilization for households and businesses, and address public health, public the investment amount in a qualified business. The program limits credits atsafety, and economic challenges.$125,000 for individuals in a given year, $500,000 for businesses in all years,New Castle County will receive approximately $108 million from this fund and has an annual funding cap of $5 million. Both investors and businessesthat will go to a Building Better Communities initiative focused on reducing must qualify and certify with Delaware Division of Small Business. violence and improving economic outcomes in underserved neighborhoods. Business Finders Fee Tax Creditwas established to attract new businesses toFunds will also go to support affordable housing, environmental justice, and Delaware and to give existing Delaware companies an incentive to encourageholistic workforce development.other businesses to establish operations in the state. To qualify for theThe City of Wilmington will receive an allotment of $55.3 million in ARPA funds. refundable tax credit, both the existing business and relocating business mustOf that amount, $22 million has been set aside for an ambitious Neighborhood jointly file an application and the new business must create at least 3 full-timeRevitalization plan, beginning in the citys historic East Side neighborhood. The jobs.Both businesses are able to claim an annual credit equal to $500 for eachplan will include investments in new construction; full rehabilitation of existing new full-time job created by the new business. Credits may be claimed by bothhomes; faade, system, and roof improvements for current homeowners; and businesses for a period of 3 years. the demolition of dilapidated and vacant properties.Delaware Strategic Fundis the Divisions of Small Business primary funding source to support business retention and expansion through grants and low-interest loans to projects that grow the states economy in a significant way.Over the past five years, there have been 36 economic incentive deals totaling more than $62 million at an average of $12,672 per new job in the Wilmington metropolitan area, according to WAVTEQ.Delaware Three Rivers Area Economic Development Master Plan 70'