Cape May-Lewes Ferry gets $20M federal grant to lower emissions

It’s been a big month, economic development-wise, for agriculture, transportation and finance in Delaware. 

An agtech project in dairy brings dollars to the area. Plus, there are more investments in low-emissions transportation, among other efforts happening up and down the state, from Wilmington to Newark to Lewes.

Get all the details below.

A new greener ferry coming to Lewes

The Cape May-Lewes Ferry is replacing a 40-year-old diesel vessel. A new lower-emission diesel-hybrid ferry will take its place, thanks to a $20 million federal grant from the US Department of Transportation.

The ferry agency plans to start soliciting bids to construct the new vessel in 2025. In addition to reducing carbon dioxide, nitrogen dioxide and other emissions, the proposed new engines will reduce fuel consumption by 35%, according to the agency. 

MISI grant goes to a Newark dairy company

Natural Dairy Products Corporation in Newark is getting help modernizing its dairy production to the tune of $858,400 with a grant from the Delaware Strategic Fund.

The company, owned by Goldey Beacom graduate Stephanie McVaugh, will replace its filling machines, some of which were built in the 1960s, with state-of-the-art machines from Italy. 

In her Modernization Investment Support Initiative (MISI) application to the fund, McVaugh noted that the company lost contracts due to its outdated machines and needs an upgrade to return to full capacity.

More Money Moves:

• Three Delaware airports — the Wilmington Airport, the Delaware Coastal Airport and the Delaware Airpark — received nearly $9 million via the Federal Aviation Administration’s Airport Improvement Program. Funding will be used to improve the airports’ infrastructures.

• Capital One, currently going through the regulation process of acquiring Discover Bank, has pledged billions of dollars in lending and other philanthropic investments, including $35 million to Delaware nonprofits.

• Bank of America has raised its minimum wage to $24 an hour, closing in on a $50,000 minimum for its full-time employees. The raise, which amounts to $1 an hour above the current minimum, is part of a gradual increase to its goal of a $25 minimum wage in 2025.

• Utility contractor Harry Caswell LLC of Millsboro has been acquired by George & Lynch, Inc. of Dover. It will continue to serve its customers in Kent and Sussex counties, as well as Maryland’s lower Eastern Shore.