Delaware Budget Proposal Announced
Today, Governor Ruth Ann Minner unveiled her proposed Fiscal Year 2007 budget, which continues funding of her key priorities in education, health care, economic development and the environment, while holding spending growth to under 6 percent.
While economic conditions in recent years have forced other states to lay off employees, reduce services or cut people from Medicaid rolls, Delaware has remained financially strong, now one of just six states in the nation to maintain a AAA bond rating. The Governor’s proposed budget for the fiscal year starting July 1 continues her long-standing commitment to provide needed services to Delawareans without compromising the state’s fiscal strength.
Here are Economic highlights from today’s budget release:
• $10 million to fund Year Three of the Governor’s New Economy Initiative, which provides incentives to companies of all types—manufacturers, biotechnology, small and large businesses.
• $10 million for the Strategic Fund, which funds job creation and expansion.
• $7 million for the Port of Wilmington and $5 million for the Wilmington Riverfront.
• $1 million to fund vaccine development efforts at the Fraunhofer Center for Molecular Biotechnology.
The budget and bond bill proposals now go to the General Assembly for review and passage by June 30.
