DELAWARE — Delaware Governor Matt Meyer on Friday announced a new $4.5 million initiative aimed at helping small businesses improve their storefronts, buildings and operations while revitalizing commercial corridors across the state.
The Delaware Commercial Corridor Initiative will provide grants covering 10% to 25% of eligible project costs, up to $25,000 per business, with the remaining financing provided through private lending institutions, according to the Delaware Division of Small Business.
"Small businesses are the backbone of Delaware's economy, and they should be at the center of our state's economic development strategy," Meyer said in announcing the program.
Division of Small Business Director CJ Bell said the initiative will reinvest reallocated state funds into local communities to help business owners improve their properties and encourage additional private investment.
The program is funded with $4.5 million from the state's Strategic Fund after a 2024 amendment to a grant agreement with Incyte freed up nearly $11.9 million for other economic development projects.
Eligible businesses located in qualifying commercial corridors may apply for grants for façade improvements, interior renovations, equipment purchases and code compliance upgrades. Priority will be given to façade improvement projects.
The Division of Small Business expects to award the first round of funding by the end of September. The initiative expands on a commercial corridor program previously established in New Castle County.

