Markell releases spending plan for new revenue

Gov. Jack Markell wants to turn short-term increases in state revenue into more jobs and economic opportunity in Delaware.

Markell released the first part of a three-part jobs plan Wednesday called “Building Delaware’s Future Now,” which details how the state should prioritize the $320 million in new revenue projections.

“This balanced plan makes clear that job creation needs to be the top priority when deciding how we can best invest some recent increases in state revenues,” Markell said. “We can put people to work now in ways that will improve our quality of life, help attract new businesses and preserve some of our state’s great assets for years.”

The Delaware Economic and Financial Advisory Council’s latest two projections show an increase in anticipated revenue since December 2010. Those are figures that can change, a release from the governor’s office cautioned, given that two more DEFAC projections remain in the fiscal year.

The plan includes a $40 million investment to help businesses relocate and expand in Delaware, and an additional $40 million for roads and other modes of transportation.

Markell also proposed spending $35 million to restore and preserve state-owned property such as parks and historic buildings, $10 million on housing subsidies and $10 million to preserve open space.

Markell is expected to discuss proposals for reducing taxes and state debt on Thursday, and economic development investments on Friday.