Fintech Building

Newark, DE (2020)

Fintech Building

Adult Education, Brownfield Remediation, Business Development, College or Vocational Training, Community, Incubator, Manufacturing

An NMTC investment from Cinnaire supported the development of a new, 100,000-square-foot building dedicated to financial technologies at the University of Delaware’s Science.

Investment

NMTC Amount: $9,000,000
Total Project Cost: $39,504,118

IMPACT

134 FTE jobs
576 construction jobs
Included a CBA
100,000 sq. ft. of real estate

CDEs

Cinnaire New Markets, NeighborGood Partners

Investor

Trustmark

Project Description

A New Markets Tax Credit investment from Cinnaire supports the development of a new, 100,000 sq. ft. building dedicated to financial technologies at the University of Delaware’s Science, Technology and Advanced Research Campus (STAR) in Newark.

The FinTech building serves as a hub for financial and academic services with a mix of private and university tenants. The project hosts a new Financial Services Incubator, the Delaware Small Business Development Center, labs and centers associated with the University of Delaware’s Alfred Lerner College of Business and Economics and the College of Engineering. The incubator provides space, resources and tech assistance to early stage financial and business software entrepreneurs and start-up companies.

MAP

Address: 540 South College Avenue, Newark, DE 19713

Census Tract: 10003014402

Voices from the Community

Delaware Technology Park is excited to launch the FinTech building on STAR Campus in conjunction with the University of Delaware and funded by Discover Bank and Cinnaire. It will contain faculty, students, and entrepreneurs with outstanding data science knowledge and digital management competencies as well as support resources for business development and community education.