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Office of Economic Development keeps strategic fund, boosts DBE tracking and wraps loan partnerships in FY2026 request
Summary
The Office of Economic Development told the Finance Committee its FY2026 budget holds steady overall while expanding minority-business outreach, DBE certification tracking and continuing strategic fund investments and loan partnerships that have supported local firms.
The Wilmington Office of Economic Development (OED) told the City Council finance committee it is proposing an FY2026 operating budget of about $1.17 million that maintains staffing at five full-time equivalents and preserves set-aside funds to support small and minority-owned businesses.
Director Sean Park said the office will continue to prioritize increases in the city's tax base by attracting private investment and advancing the recommendations of a recently completed disparity study. "Our priorities as an office are to increase the city revenue tax base through new jobs and private investments and improve the quality of life for residents," Park said.
OED said it will continue a $350,000 minority-business set-aside…
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