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New Source of Money for Wilmington Stock Exchange

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The proposed Wilmington stock exchange could be getting some startup money from the Wilmington Urban Development Action Grant Corporation.

There is a proposal for $2 million for the Delaware Board of Trade Holdings Inc. which would handle in small and medium sized businesses.

The Wilmington News Journal reports the money would come from the U.S. Department of Housing and Urban Development that goes towards increasing economic activity in the downtown area.

A local board that figures out how the funding is spent is made up of members of the City Council and other officials.

There is no timeline and the funds would be provided through a non-profit established by the New Castle Chamber of Commerce.

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.