FOR IMMEDIATE RELEASE

FOR MORE INFORMATION, CONTACT:

May 3, 2001

JENNIFER BOES, 302.672.6840

(Dover, Del.) The Delaware Assistance Program, established by the Delaware General Assembly last year to improve the quality of life in Delaware’s impoverished areas, is now under way. Businesses and community-based organizations will benefit from the newly-created program.

Roger Pryor, co-chair of the 17-member Delaware Neighborhood Assistance Act Advisory Council, says, “This program is a great opportunity to forge significant partnerships between the community, businesses, and government. The Act should go a long way toward improving the financial outlook in economically-distressed areas throughout the state.”

The Delaware Neighborhood Assistance Program offers several benefits to businesses, including a 50 percent tax credit on direct investments to urban and rural community-based non-profit organizations and their projects. Businesses can receive up to $100,000 in tax credits each fiscal year.

The program assists community- and neighborhood-based organizations by providing direct financial assistance from businesses in support of community economic development projects, neighborhood revitalization efforts, and core operation costs. Through the formation of partnerships with local businesses, it also provides the means to increase organizational capacity, project effectiveness, and productivity. In addition, the program provides businesses with the opportunity to help build and sustain healthy, viable communities as well as target the impact of corporate giving, improve community relations, and increase corporate visibility.

The first public event hosted by the Neighborhood Assistance Act Advisory Council will be held Thursday, May 10, 2001 from 6-8 p.m. at Dover Downs in Dover. Businesses interested in community economic development are encouraged to attend. Call 302.764.3472 for more information on the event.

Additional details on the program are also available by calling the Neighborhood Assistance Act Advisory Council, care of the Delaware Association of Community-Based Development Organizations, at 302.764.3472, contacting the Delaware Economic Development Office at 302.577.8470, or by visiting www.delawareworkforce.com.