The U.S. Economic Development Administration, an agency within the U.S. Department of Commerce, has awarded a $3 million grant to Delaware Innovation Space in Wilmington for the renovation and refitting of a building at the DuPont Experimental Station in North Wilmington.
The Innovation Space, a a technology and science incubator, is a multi-tenant facility, which, according to the grant, is expected to generate 657 jobs and $80 million in private investment.
“The Trump Administration is committed to stimulating job growth by supporting small business innovations in communities across the country,”Secretary of Commerce Wilbur Ross said. “This new research and incubation space will ensure a skilled workforce for Wilmington’s manufacturing and high-tech industries as well as providing jobs for the thousands living in the wider region.”
The grant will support the effort to provide cost-effective space for start-ups and maturing businesses in an area that historically has been home to mature companies in the chemical, biotechnology and materials industries. The grantees said researchers and businesses will benefit from proximity and relationships with one another.