|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$516,899|
In December 2015, DuPont announced the termination of 1,700 jobs in Delaware in preparation for its merger with Dow Chemical Company, resulting in a 24 percent reduction in the size of Delaware’s workforce. The jobs lost are primarily high-paying, highly-educated research positions. In addition to the DuPont downsizing, 619 jobs have been lost from Legacy Supply Chain Services, Chemours, Sodexo, Inc., and Capital One. Delaware’s economic future will depend on its ability to create a new and less risky economic foundation that does not rely on the presence of large companies.
The Delaware Technology Park, Incorporated (DTP) is recognized as a model for a self-sustaining university research park. By clustering businesses in the same place, it facilitates the sharing of services and resources, while also providing the benefits of a nearby academic community. In collaboration with the State of Delaware, the University of Delaware, and the private sector, it is a winning combination for fostering new and emerging business.
In September 2016, EDA provided $516,899 in Economic Adjustment Assistance funds to the DTP in Newark, Delaware to fund a lab and collaboration space and business support for early stage entrepreneurs. The investment will assist the State of Delaware in diversifying its economy and begin to build greater economic resilience.