DuPont will receive nearly $10 million from the state as part of a deal that’ll keep two of its spin-off businesses in Delaware after its proposed merger with Dow.
The Delaware Economic Development Office’s volunteer Council on Development Finance approved the $9.6 million in grants from the strategic fund on Monday.DEDO spokeswoman Christina Dirksen says the investment will keep 1,700 jobs in the state.
The incentives helped a February deal that sought to keep DuPont’s agricultural and specialty products businesses in Delaware after the company becomes DowDupont. The merger still awaits regulatory approval.
The $9.6 million grant includes $6 million in matching funds to reimburse the companies for up to 3 percent of capital expenditures, up to $200,000. Up to $3.6 million is allotted as a job retention grant.