MILFORD — The city of Milford received $1.4 million from the Strategic Grant Fund on Monday to install infrastructure for the next phase of its up-and-coming Milford Corporate Center.
The business park, which broke ground in March, is projected to have up to 27 lots varying between four and seven acres in size for future use. Milford officials believe that the demand would easily be there for the two million square feet of office and manufacturing space.
Milford Corporate Center is the city’s top economic development prospect, arriving at a time when the city has experienced year-over-year residential growth. Area officials hope the business park can become one of the next hot spots for companies hoping to target Maryland, Washington, D.C., New York City and other areas as other areas in Delaware continue to target manufacturing and distribution businesses.
The concept plan suggests that smaller offices may build on the smaller lots facing Delaware Route 14, or Milford-Harrington Highway, while the larger lots may entice more industrial companies. The layout of the Milford Corporate Center would also allow for the combining of lots, offering unique opportunities for a variety of tenants, as well as the marketability of the site.
Leaders say that once the Milford Corporate Center is completely leased out, it could bring 1,300 employment opportunities to the area.
But in order to get there, Milford officials believe they need additional state funding to help pay for more infrastructure projects. The city’s Site Readiness Fund application asks state officials to help cover the $10.6 million for two stormwater management ponds, a water main extension and a sewer pump station.
Seen by the Council on Development Finance (CDF) in late April, the group approved $1.4 million in Level II Site Readiness Funds to pay for project management and inspection costs, as well as construction for sidewalks and internal roads.
“The Milford Corporate Center represents an opportunity for Central Delaware,” Kent Economic Partnership Executive Director Linda Parkowski told the Delaware Business Times. “Infrastructure costs for a business park of this size are expensive, the site readiness grant only touches the surface of such costs. The city of Milford’s commitment to this project will attract good paying jobs and grow their community strategically.”
This marks the third time that the Milford Corporate Center has received state funds. City officials were awarded $1.1 million in Level 1 Site Readiness Funds and another $5 million through the Transportation Infrastructure Investment Fund prior to the ground-breaking ceremony earlier this year.
