Milford Industrial-Business Park Plan Gets A Boost
The City of Milford is getting $100,000 for site readiness from the Delaware Council on Development Finance to develop a plot of land at Route 14 and Route 15 for industrial-and-business use.
The Delaware Division of Small Business established a site readiness fund to assist local projects that involve economic growth and job creation. Money for the Milford initiative came in the Fiscal year 2022 Bond Bill.
“The State of Delaware’s Site Readiness Fund provides opportunities to expand economic development within the State,” Milford City Manager Mark Whitfield said. “We are pleased that Delaware Division of Small Business shares the vision of Milford City Council in the creation of the Milford Corporate Center and has provided this funding.”
The city also plans to apply for a Level-2 grant of $1,000,000 in FY ’23 to offset some of the infrastructure costs.
“By investing in these projects, we can ensure that Delaware remains competitive in attracting and retaining vital businesses that create opportunities for employment,” Delaware Division of Small Business Director Jordan Schulties said. “In today’s competitive economy, it is more important than ever that we have tools like the Site Readiness Fund to help expand and sustain economic growth in our state.”
Creation of an industrial park was included in a 2018 City of Milford Strategic Plan.