Sussex officials offer incentives to attract business
Georgetown — Businesses wanting to start, expand or relocate to Sussex County and offer new jobs could be in line for incentives adopted by county council Nov. 29.
On the recommendation of County Administrator David Baker, the county has a policy to offer economic incentives based on job creation on a case-by-case basis.
The policy mirrors those already in place in the state and several Delaware towns.
“Matching what the towns do or state does would be an important factor to help businesses to decide to come to Sussex County,” Baker said.
To qualify, companies must provide at least 10 new jobs with benefits and complete any proposed building project within one year of the issuance of a building permit.
Baker said the incentives are not a blanket policy. Each request would be subject to committee review and council approval. A committee would also review the company’s financial plan, history and benefit to Sussex County; the policy does not apply to nonprofit organizations.
The main incentive is a graduated tax abatement over 10 years on the county portion of property taxes on new construction or renovations. Baker said school officials have been approached to provide the same incentive for school taxes, which make up the largest share of taxes in Sussex County. Expedited reviews in the land-use process are also possible. The county has established a maximum incentive of $800 per new job.
Businesses must agree to pay back any waived taxes if they fail to add the minimum of 10 new jobs within three years.
“It’s no secret that that this economy the last couple of years has been very trying, especially for small businesses,” Baker said. “We believe these incentives might provide that nudge for those businesses that are beginning to see the light at the end of the tunnel but have been on the fence about whether to expand or add jobs.”
Tags for this Thread