The Council on Development Finance on Monday heard a proposal for a grant that would help pay for 285 new customer service jobs at Sallie Mae in northern Delaware.
Sallie Mae, a loan agency, is working with the Delaware Division of Small Business, Development & Tourism to hire people recently displaced by layoffs at HSBC and Barclays. The plan hinges on a $2.16 million grant from the Delaware Strategic Fund, which offers low-interest loans and grants to businesses towards job creation.
This isn’t the first time Sallie Mae has tapped into state funds. In 2014, the company received $3.7 million to create more than 300 new jobs. According to Division of Small Business, Development & Tourism, Sallie Mae exceeded its original benchmark.
The hiring would bring the total number of people employed by Sallie Mae in northern Delaware to 1,000.
The Council on Development Finance also heard a proposal from General Refrigeration Company for a $433,500 grant that would pay for 30 new full-time positions. The Council will decide whether to approve the grants at its August meeting.