Delaware gives out $3M to 3 businesses for expansion, hiring

(AP) — Three Delaware businesses will receive a combined $3 million in taxpayer grants for expansion and job creation.

The News Journal reports the Delaware Council on Development Finance awarded the grants on Monday to student loan provider Sallie Mae, biotechnology company Prelude Therapeutics and air conditioning business General Refrigeration Co.

Sallie Mae received $2.16 million and will use the funds to hire 285 Barclays and HSBC workers that were scheduled to be laid off in Delaware. A portion of the grant will also fund renovations to its New Castle facility.

Prelude Therapeutics received $474,491 to bring its employee count from 12 to 30 and move into a new location in New Castle County.

General Refrigeration will receive $433,500, which will fund the hiring of 30 employees and prevent relocation to Maryland.