The Council on Development Finance (CDF) has approved nearly $4.5 million in taxpayer-backed grants, including nearly $2.9 million to Pepsi to “Pepsify” a 359,000-square-foot warehouse in Claymont. CDF is an advisor to the Delaware Economic Development Authority (DEDA). It is responsible for conducting public hearings before DEDA issues any bonds or provides other financing support to projects. Other applicants who …
CLAYMONT — Pepsi plans to ask the Council on Development Finance for nearly $2.9M in grant funding to “Pepsify” a 359,000-square-foot warehouse as part of the multi-use First State Crossing development at the site of the former Evraz Claymont Steel plant, according to documents obtained from the state following a Freedom of Information Act request. The application says PepsiCo Beverage …
This Week’s Top Stories Include Sussex Veterans Treatment Court to graduate 100th participant Delaware’s guide to Labor Day Weekend 2024 State $$$ to help Newark dairy upgrade filling machines The Blackwall Barn & Lodge coming to Avenue North Big plays ignite comeback win for Lake Forest Click on the image below to view the PDF Sonja Frey
A woman-owned organic dairy headquartered in Newark has been given an $858,400 state grant to help update equipment. Stephanie McVaugh, who in January bought Natural Dairy Products Corp., where she had been working since 1991, will apply that money to $4.3 million in new equipment to support the company’s Shelf-Life Extension Project. The dairy will replace aging, inefficient filling machines, …
A Miami-headquartered fintech company has opened a Wilmington office. Novo, a two-time member of the Forbes Fintech 50, has built a platform for small businesses that combines a checking account with an ecosystem of financial applications. It’s designed to help small businesses access their revenue faster, save time on business-critical tasks and manage their money any time on any device. …
A Wilmington machining company will use a new kind of state grant to offset the cost of $1.1 million in equipment upgrades. High-Tech Machine Co. Inc. received $219,525 from the new Modernization Investment Support Initiative, created earlier this year. The company will use the money to make almost $1.1 million in equipment upgrades that are necessary for computer numerical control …
A Delaware environmental solutions firm will use $60,000 in state grants to quadruple lab space and create 12 new full-time jobs. RiKarbon, based in Newark, will use the grants to expand from Delaware Technology Park incubator space to the Delaware Industrical Park. The company, which will focus on carbon capture and utilization with the expansion, was founded in 2018 with …
A Newark supply chain management company will use a state grant of $155,970 to build a warehouse and fulfillment center next the headquarters of the company that spun it off. EtailFlow LLC, a supply chain management company designed to efficiently distribute electronic goods, grew out of Delaware-based ecommerce leader PCOnline earlier this year. Its new facility will be next to …
A new $170 million cold storage facility will break ground in Claymont this fall and is expected to add about 130 jobs when it opens next summer. Agile Cold Storage will build a 275,000-square-foot cold-storage facility to help meet growing demand from North American food manufacturers, processers and growers. The addition will be the first company warehouse outside its home …
The way Delaware handles its budgets, a growing population and efforts to diversify the state economy all help the state continue to earn a AAA bond rating, which means the state pays less when it wants to borrow money. For example: The state received bids last week for its upcoming sale of $380 million of triple-A rated General Obligation Bonds …
