Wilmington, DE – In his weekly message, Governor Markell highlights the work of Stand By Me, a financial empowerment program that recently celebrated its fifth anniversary.

“Delaware’s economy continues to get stronger, with a low unemployment rate and record job creation that leads the region. However, at a time of rapid economic changes, many people continue to struggle with financial insecurity. ,” Governor Markell said. “Stand By Me is a great example of how the private and public sectors can work together at a time when government has fewer resources to deploy. By empowering people financially, we ensure they can focus on working hard to get ahead and care for their families. And that keeps Delaware moving forward.”

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

YouTube: https://youtu.be/wQYl3dmi-yM
Delaware.Gov:http://governor.delaware.gov/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: https://www.facebook.com/governormarkell
Twitter:  www.twitter.com/governormarkell

Transcript of the Governor’s Weekly Message: Empowering Delawareans to be Financially Literate and Grow Our Economy

Wilmington, DE – In his weekly message, Governor Markell discusses his commitment to ensure that Delaware’s professional regulations are instruments of opportunity for Delaware’s skilled workforce, including an executive order he signed this week that brings government together with community members to review existing licensing requirements and recommend ways to eliminate unnecessary barriers to entry.

“We have no higher priority than giving Delawareans the tools and opportunities to compete for the skilled jobs in today’s economy. Even when people have the right skills, however, we know other barriers sometimes prevent them from entering the workforce,” Governor Markell said. “Many of our licensing and certification requirements are well-founded, ensuring professionals are trained to keep people safe and earn the public’s trust. However, some requirements may no longer be necessary and these burdens can reduce employment in those fields, lead to higher prices for professional services, and limit opportunities for Delaware workers. A thoughtful and collaborative approach to licensing reform will ensure professional regulations are instruments of opportunity, rather than arbitrary and expensive barriers to the job market. And that will keep Delaware moving forward.”

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

YouTube: https://youtu.be/jM2Jq74NPVY
Delaware.Gov:http://governor.delaware.gov/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: https://www.facebook.com/governormarkell
Twitter:  www.twitter.com/governormarkell

Transcript of the Governor’s Weekly Message: Reducing Employment Barriers for our Skilled Workforce through Professional Licensing Reform

Follows through on Governor’s State of the State proposal to improve access to capital

Wilmington, DE – Building on efforts like regulatory reform and broadband improvements that have made Delaware a more welcoming place to start and expand a business, Governor Markell joined members of the General Assembly today to announce legislation that will give startups and small businesses better opportunities to access capital.

The bipartisan bill, which will be filed when the legislature returns to session next week and is sponsored by Representative Bryon Short (D-Highland Woods) and Senator Brian Bushweller (D-Dover), would permit the use of online crowdfunding platforms, allowing Delaware residents to be investors in Delaware start-ups and small businesses, expanding the potential pool of investment capital for small businesses while also giving Delawareans the chance to be early stage investors in these ventures.

“With the best job growth in the region, we are making progress in strengthening our economy, but we can only realize the full potential of our state if we remove unnecessary barriers to innovation and entrepreneurship,” said Governor Markell. “This legislation sends another signal that Delaware supports small business growth, which is vital to our state’s continued success, and I thank the bill sponsors, Representative Short and Senator Bushweller, for their commitment to seeing it pass the General Assembly.”

As the Governor mentioned in his State of the State address, with leadership from Congressman John Carney, Congress has given states the flexibility to permit citizens to more easily invest in startups. Much of this investing can be done through what is known as crowdfunding, through which companies around the world raise billions of dollars. This year, the amount of investment is expected to exceed the funding provided through traditional sources like venture capital. But state laws currently prevent citizens from using crowdfunding to its full potential to help Delaware businesses.

“We need to make sure our laws keep pace with technology so that our small businesses have access to new methods of raising much-needed capital,” said Representative Bryon Short, the bill’s prime sponsor in the House. “Delawareans have a strong sense of pride in locally owned and operated businesses. This bill will take steps to help new companies by enabling Delaware residents to invest and participate in the success of homegrown Delaware start-ups.”

The bill would enable Delaware-based companies to offer equity stakes to Delaware residents or other Delaware businesses over internet platforms. (Due to Federal law, Delaware cannot permit investment from residents of other states.) Although the bill would require certain disclosures in order to ensure the validity of the offerings, it does not require issuers to make detailed financial disclosures that might be prohibitively costly for many small businesses and start-ups. A business can raise up to $1 million over a 12-month period and an individual can invest up to $5,000 in any one offering.

“We must strike the right balance between protecting the public from fraudulent activity and making sure our small businesses can access investment capital, and this bill accomplishes that,” said Senator Bushweller, the bill’s prime sponsor in the Senate. “I look forward to working with my colleagues to pass this into law.”

The bill has received support from Republicans in the legislature as well.

“This bill is a recognition of the changing landscape of how businesses are conceived and financed in the 21st Century,” said State Rep. Lyndon Yearick, R-Dover South. “There are many examples of businesses that got their start through online crowdfunding. It’s time we allow Delaware entrepreneurs to tap into a resource that could help them turn a dream into a viable enterprise.”

“Any advantage we can give our home-grown companies is a benefit in the new economy,” said Senator Greg Lavelle. “It’s important to give Delaware companies access to Delaware investors, and any time we can do that in a safe and responsible way, we should.”

The state Department of Justice’s Investor Protection Unit will maintain oversight of sale registration and equity offerings.

“It has never been more important to maintain a nurturing and supportive economic environment in our state that will encourage growth for small businesses,” said Congressman Carney. “I am proud that I was able to join a bipartisan effort in Congress to make it easier for small businesses to access needed capital through crowdfunding and other innovative platforms, which will pave the way for our state to take advantage of this opportunity.”

“This is a good way to enable small businesses to more easily access the capital they need to grow,” said Rich Heffron, President of the State Chamber of Commerce. “We support this legislation, and hope to see it become law.”

Wilmington, DE – In his weekly message, Governor Markell highlights Delaware’s commitment to ensuring all communities in Delaware realize their potential through meaningful work.

“We should strive every day to ensure everyone has access to opportunities to make the most of their abilities. It’s a moral imperative, but it’s also a fact that we only achieve our potential as a state when we tap into the talents of all of our people,” Governor Markell said. “We’ll continue to build on those efforts to ensure that all Delawareans have the opportunity to realize their full potential through meaningful work. And that will keep Delaware moving forward.”

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

YouTube: https://youtu.be/IgowQWtvgzg
Delaware.Gov: http://governor.delaware.gov/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: http://www.facebook.com/governormarkell
Twitter: http://www.twitter.com/governormarkell

Transcript of the Governor’s Weekly Message: Recognizing Talents of All People to Build Our Economy

$4 million in grant funding for 11 projects will leverage $45 million in private investment

 

Dover, DE – Downtown revitalization efforts in Wilmington, Dover and Seaford continue to gain momentum, with new projects in all three counties slated to receive funding from Delaware’s Downtown Development Districts program.

 

The Delaware State Housing Authority and Governor Jack Markell announced Tuesday that 11 projects have been selected to receive $4 million in DDD funding. Delaware’s new grants will leverage $45 million in private investment in commercial and residential development in all three cities.

 

New projects include the redevelopment of vacant properties to promote homeownership in downtown Wilmington; mixed-use reconstruction on Market Street; new home construction on New Street and Reed Street in downtown Dover; and additional development at The Residences at River Place in Seaford.

 

“Our Downtown Development Districts program continues to leverage significant private investment in Delaware’s downtowns,” said Governor Markell. “More Delawareans want to live and work in urban areas, so this kind of revitalization of our cities will drive future economic growth. We’re seeing great progress.”

 

Due to significant ongoing interest in the program, DSHA will initiate another DDD funding round this spring. The round will open on March 1, with applications due by May 15.

 

“We continue to be pleased with the feedback we’re receiving in Dover, Seaford and Wilmington,” said Anas Ben Addi, Director of the Delaware State Housing Authority. “The program is making a difference in all three cities and I look forward to continued work with our new development partners.”

 

The DDD program, administered by the Delaware State Housing Authority, was created by legislation proposed by Governor Markell and passed unanimously in May 2014 by the General Assembly.

 

In January 2015, Governor Markell designated the downtown areas of Seaford, Dover, and Wilmington as Delaware’s first three Downtown Development Districts. In the first funding round, announced last April, a $5.6 million investment by the state leveraged $114 million in private investment in all three counties.

 

To incentivize development, applicants receiving DDD grants are eligible for up to 20 percent of their construction costs in the form of a rebate. Grants are awarded only when projects are complete.

 

District	Total Awards	Total TDC	Total QRPI	Total Reservations
Dover	5	$14,226,060	$11,096,123	$1,470,396
Seaford	1	$11,461,567	$9,512,678	$700,000
Wilmington	5	$19,967,190	$11,893,114	$1,837,090
Grand Total	11	$45,654,817	$32,501,915	$4,007,486

 

 

Project Details:

 

• Central Delaware Habitat for Humanity will build five single family homes on North New Street in downtown Dover. The homes will be sold to low-income homebuyers, helping promote homeownership in Dover’s downtown district.

 

 

• 829 Market LLC plans to redevelop the property at 829 Market Street in Wilmington to create seven walk-up apartments above 5,000 square feet of ground-floor space, which will be occupied by a restaurant, 3 Doors Brewing Company.

 

 

• James R. and M. Lorraine Nelson plan to demolish an unstable, 127-year-old building at 117 Market Street and build a new six-story building. A bank and café will occupy the ground level, and the marketing and technology firm Trellist will occupy the top five floors. 

 

 

• MauTiste Investment Group will build three duplexes, or six townhomes, on Reed and S. Kirkwood streets in downtown Dover, a project that also will build on earlier efforts to increase homeownership in downtown Dover.

 

 

• Interfaith Community Housing of Delaware plans to redevelop six existing houses, some vacant and blighted, to create a dozen new affordable homes to promote homeownership in Wilmington’s downtown district. The houses are located along West 6^th Street, West 5^th Street and North Washington Street.

 

 

• The Residences at River Place LLC has reserved funding to assist in the construction of the third and fourth phases of the project in Seaford. New development will include two four-story apartment buildings with a clubhouse and covered parking spaces.

 

 

Full List of Large Projects Awarded

 

 

Comments from Partners:

 

“These town homes will enhance the community but cannot happen without the DDD funding. From the initial kickoff meeting last winter, the DDD program was well planned and executed,” said Michael Maupin, Managing Director of MauTiste Investment Group. “This project will be a great success because of the support of the Delaware State Housing Authority, Dover Mayor Robin Christiansen and his entire staff. It has been a pleasure working with them and I look forward to completing this project and developing others.”

 

“Governor Markell’s initiative of the Downtown Development District program and what it offers has been the ignitor of what is happening in Downtown Seaford,” said Seaford Mayor David Genshaw. “The City believes in this program and is proud to support it 100%.  We are excited about and look forward to the definite transformation that will occur over the next few years in our community.”

 

“I was overcome by excitement upon hearing that I have been awarded a grant to improve my property on Market Street in Wilmington,” said James Nelson, one of the owners at 117 Market Street in Wilmington. “This grant will make possible the realization of a vision to not only create a new and iconic building on Wilmington’s very visible Martin Luther King Boulevard, but will enable a very viable and substantial tenant to continue to expand his business in Wilmington.”

 

About the Delaware State Housing Authority

The Delaware State Housing Authority (DSHA), formed in 1968, is dedicated to providing quality, affordable housing opportunities and appropriate supportive services to low- and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it is also serves as a Public Housing Authority and acts as a Community Development and Planning Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own and operate public housing in Kent and Sussex counties, two of Delaware’s three counties. For more information about the Delaware State Housing Authority, please call: (302) 739-4263 or visit our website at: www.destatehousing.com