DOVER, Del. — Delaware Gov. Jack Markell on Wednesday unveiled plans for how he wants to spend hundreds of millions of dollars that have been added to Delaware's expected revenues since he released his budget proposal in January.
Markell announced a three-part plan to create jobs and boost the state's economy without further burdening the state's operating budget. It includes one-time expenditures on a variety of jobs-related initiatives, targeted tax and debt obligation reductions, and investments aimed at expanding economic opportunities within the state.
Markell discussed the first phase of his proposal on Wednesday, calling for $135 million in spending to help create jobs. He planned to address tax and debt reduction on Thursday and economic opportunity investments on Friday.
"We are very much focused on making sure that the money puts as many Delawareans to work as possible," he told a business group in Dover.
Markell noted that since he proposed his budget for the fiscal year that starts July 1, a state panel has added $320 million to its official revenue estimates.
The primary sources of the additional money identified by the Delaware Economic and Financial Advisory Council are corporate income taxes, bank franchise taxes and abandoned property.
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