New Jersey Gov.
Phil Murphy has announced a $25 million fund that will invest in Delaware’s nascent digital economy.
The announcement was made in a letter sent to Gov.
Jack Markell (D), according to a report from NJ Advance Media.
The fund will be dedicated to the Delaware digital economy, which has been hampered by a lack of federal and state oversight.
The governor also said he is working with the Delaware Economic Development Authority (DESA) to develop a plan for digital infrastructure, according to the NJ Advance, which added that Murphy’s administration has already committed $3 million toward the initiative.
The DEA is a government agency that promotes digital innovation.
The agency’s website lists the state’s priorities for digital innovation, which are to create jobs, increase economic activity, increase access to education, and improve the quality of life for residents.
Murphy said in a statement that he and Markell are committed to providing additional funds to the DEA and the states economic development efforts to further enhance digital economy infrastructure.
Murphy also announced plans for an office for the Delaware Department of Business and Professional Regulation to be established, which will provide resources for digital entrepreneurs and help foster collaboration among the state government, private sector, and the private sector.
Murphy’s announcement came just a day after Delaware Governor Tom Wolf (D) announced that he is creating a digital hub at the Department of Commerce.
Murphy is also the chairman of the DEAS board of directors, which is made up of seven governors and four other state officials.