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$250,000 Grant Supports Tenant Move

WILMINGTON, DE-The city's Economic Development Strategic Fund will be supporting a 34,000-sf lease signed by Phillips and Cohen Associates, at Wilmington's Shipyard Shops.

By Erika Morphy | Updated on March 05, 2008

WILMINGTON, DE-Phillips and Cohen Associates has inked an agreement to lease out 34,000 sf at the Shipyard Shops located on South Madison Street. Supporting that deal is the City of Wilmington, which has provided the firm–now currently in Newark–$250,000 from its Economic Development Strategic Fund in relocation costs.

The company will employ more than 300 people at its new site and will be hiring in the coming months. According to John Rago, director of communication and policy development for the city, such grants are commonplace. “We will work out various incentives to companies to move to the city, depending on the number of employees and the additional jobs they plan to add within a certain period of time,” he tells GlobeSt.com.

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