37 Delaware companies have created or saved jobs through the state’s LIFT program.
Since it was unveiled in April, the small business investment program called LIFT (Limited Investment Financial Traction) has helped 37 Delaware business create and/or retain 440 jobs.
“In these days, that’s what it’s really all about,” says Governor Jack Markell of the program that’s aimed at maintaining and growing small businesses. The state committed $5 million from its strategic fund to subsidize interest on loans for the LIFT program. The program is a cooperative effort between the state and several Delaware banks who will make the loans to existing business customers in good standing.
Markell says the helping small businesses create and retain jobs is going to be critical part of the state’s economy at the start of what could be another turbulent year in the state’s economy. “We continue to face a very challenging economy which makes it all that more important that we continue to wake up every single day focused on how to improve the economic climate, the business climate in Delaware, and how to create jobs.” He says his focus in 2010 will be on three areas: creating jobs, cutting the fat out of government, and continuing to improve Delaware schools.
Monday morning, Markell celebrated the expansion of Peninsula Dental into Sussex County thanks to LIFT funding.