MOSCOW (MRC) -- DuPont will receive
nearly USD10 million from the state as part of a deal that'll keep two of its
spin-off businesses in Delaware after its proposed merger with Dow, said Chicagotribune.
Delaware Economic Development Office's volunteer Council on Development Finance
approved the USD9.6 million in grants from the strategic fund on
DEDO spokeswoman Christina Dirksen says the investment will keep
1,700 jobs in the state.
The incentives helped a February deal that
sought to keep DuPont's agricultural and specialty products businesses in
Delaware after the company becomes DowDupont. The merger still awaits regulatory
The USD9.6 million grant includes USD6 million in matching
funds to reimburse the companies for up to 3 percent of capital expenditures, up
to USD200,000. Up to USD3.6 million is allotted as a job retention
As MRC informed earlier, DuPont and The Dow Chemical
Company in February 2016 announced the U.S.
site structure for the global agriculture leader the companies intend to create
following the planned separation of DowDuPont into three independent, publicly
DuPont is an American chemical company that was founded
in July, 1802. The company manufactures a wide range of chemical products,
leading extensive innovative research in this field. The company is the inventor
of many unique plastics and other materials, including neoprene, nylon, Teflon,
Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon
used in the production of refrigeration equipment.