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Performance-based grants and low-interest loans for major job-creating Delaware business projects, requiring CDF public hearing approval.
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Sign in to save this grantDelaware’s Strategic Fund is the state’s primary tool for keeping and growing major business projects, with $5 million allocated for FY2026.[1] There is no fixed deadline. But calling it “rolling intake” understates what the process actually requires. PepsiCo secured up to $2,887,000 through this path.[2] Corteva Agriscience received $1 million to retain 205 jobs in Wilmington, structured as $500,000 for employment and $500,000 for goods and services.[3] To access any of it, you must prove your project would not happen in Delaware without state support.
Then survive a nine-point vetting process, a non-refundable application fee, and a public hearing before the Council on Development Finance. If you cannot make that case, this page will save you from starting a process you cannot finish.
The eligibility tool below simulates the initial vetting your project will face when you talk to a Regional Business Manager. If you cannot satisfy the “but-for” requirement or provide three years of audited financials, the state is unlikely to move your application toward the public hearing stage.
Three recent awards show what the fund rewards and how it structures disbursement. Synnovation Therapeutics received $438,000 in January 2025 to add 44 biotech roles in the state.[4] Corteva Agriscience got $1 million in October 2025 to retain 205 jobs in Wilmington, split between $500,000 for employment support and $500,000 for goods and services.[3] PepsiCo was approved for up to $2,887,000 for a distribution expansion.[2] Every winner demonstrated competitive pressure from other locations and a specific, verifiable job count. With only $5 million in the FY2026 pool, a single large award can consume more than half the annual allocation. The Division of Small Business is looking for quality jobs with competitive wages, not just headcount.[1]
Things to Avoid
If your project is earlier-stage or smaller in scope, the Delaware EDGE Grant is a better starting point before you take on the Strategic Fund’s documentation burden.
You cannot apply online. The Regional Business Manager for your county is the only entry point. These managers cover New Castle, Kent, and Sussex counties and determine whether your project is worth preparing for the Council on Development Finance. They help shape your proposal before it reaches formal review. Submitting directly to Dover without their initial vetting means your application will be returned.
Contact the Regional Business Manager for your county before you draft anything. They provide the initial eligibility determination and help qualify your project for CDF review.
Important Note
Find your county contact via the Division of Small Business directory. Have these ready before the call: This is not a casual inquiry. It is the first formal vetting step, and managers can tell immediately whether an applicant has done the work.
Before You Call a Manager
If your project passes manager vetting, the formal submission requires 12 physical copies of the full application plus a non-refundable fee, sent to the Director of Capital Resources at 99 Kings Highway in Dover. This is not a digital process.
Once your application is deemed complete, the state begins a 60-day clock to reach a preliminary decision.[6] This is not a paperwork check. Staff run nine distinct evaluation methods drawn from the Administrative Code. They will contact your bank, your suppliers, and your customers to verify what you put in writing. Audited financials are expected; internal tax drafts are not a substitute.
Confirm site control documentation Prepare 3 years of audited financials for CPA review Draft a competitive location analysis for the but-for case Brief customers and suppliers on potential DSB contact Notify your bank rep to expect an inquiry Compile asset inventory with valuations and lien details Pull credit reports before submitting Document regulatory compliance history
Required Steps
The state is verifying that every dollar from the $5 million pool goes to a stable business that will still be operating in Delaware years from now. Your references are part of that proof.
Passing staff review sends your project to a public hearing before the Council on Development Finance.[7] The CDF evaluates projects against seven legal criteria from Delaware Code section 8729A before making a recommendation to the Chairperson.
Consistency with state economic development strategies Number of jobs created or retained Competitiveness of Delaware versus other locations Quality of jobs including wages and benefits Overall economic impact and private investment Project feasibility and strength of the business plan Environmental considerations
Key Points
Hearings are scheduled throughout the year. A February 25, 2026 session at Buena Vista in New Castle is one confirmed date.[8] Your project’s timing depends on when you complete manager vetting and submit a full package. Monitor the CDF meeting calendar once your application advances. After the CDF recommendation and the Chairperson’s final approval, your term letter is valid for a maximum of one year to close the agreement.
CDF Meeting Timing
The Strategic Fund disburses as reimbursement. You incur the expense first, document it, then request the funds.[6] The obligations do not end at disbursement. Annual reports are due every June 30 for the entire term of the grant or loan, covering job counts, wage scales, financial statements, and economic impact data.[6]
Recapture provisions allow the state to require repayment if you fail to maintain the employment levels in your agreement. If benchmarks slip or operations cease, you may owe money back to Delaware.
Important Note
Contact your Regional Business Manager first Gather 3 years of audited financials Build a but-for case with competitive site analysis Prepare 12 physical application copies plus the fee Brief your bank and key customers before DSB contacts them
Must Do
If your focus is site preparation and infrastructure rather than direct job creation, the Delaware Site Readiness Fund shares the CDF hearing process but targets site development specifically. Early-stage or smaller companies that cannot meet the Strategic Fund’s document burden usually start with the Delaware EDGE Grant, which uses a competitive pitch format instead.
Contact the Regional Business Manager for the county where your project is located. They vet the project before you submit the formal application package — 12 physical copies plus a non-refundable fee — to the Director of Capital Resources in Dover.
You must show the project would not move forward in Delaware without state financial assistance. In practice, this means documenting a competing offer from another state, a financial gap in your project model, or evidence that your internal return on investment doesn’t work without the support.
Once the application is deemed complete, staff have 60 days to reach a preliminary decision. After that, timing depends on the next scheduled CDF public hearing and the Chairperson’s final sign-off. The approved term letter is valid for a maximum of one year to close the agreement.
You receive a term letter outlining conditions. After acceptance and documentation, a closing is scheduled. Funds are disbursed as reimbursement after you incur and document expenses. You must then submit annual reports every June 30 covering jobs, wages, and financial performance for the full term of the award.
The agreement includes recapture provisions. If your headcount falls below the benchmarks you committed to, the state can require partial or full repayment of the funds received.
No hard legal cap exists. Awards scale with economic impact and project size. Recent approvals range from $438,000 for a 44-job biotech expansion to $2,887,000 for a major distribution project.
Retail, restaurants, residential development, professional office buildings, speculative real estate, and refinancing existing debt are all excluded. The fund is designed for manufacturing, distribution, headquarters operations, and R&D.
The Delaware Strategic Fund is less like a grant and more like a high-stakes negotiation with the state. Applications fail not because the project is bad, but because the but-for evidence is too thin or the bank reference wasn’t prepared for a DSB inquiry. With only $5 million in the annual pool and no fixed deadline to pace applications, the quality of your preparation is what separates funded projects from those that stall at manager vetting.
If you want to confirm your project holds up against the Code’s seven criteria before you pay the non-refundable state fee, start with a Grant Assessment. Our team reviews your financials and site plans against those criteria and helps identify gaps in your but-for case. Your Grant Assessment fee is non-refundable, but the base assessment fee can be deducted once toward the same grant’s Full Application when you choose the optional checkbox at checkout. For projects ready to move, our Full Application Submission service handles the narrative drafting, reference preparation, and physical 12-copy assembly.
Want a quick gut-check first? Book a live 1-on-1 consultation to discuss your project fit with a Delaware grant specialist.
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