Governor Josh Stein has announced that $55 million in grants have been distributed to 2,182 small businesses in western North Carolina. This initiative, a collaboration between the Dogwood Health Trust, the Duke Endowment, and the State of North Carolina, aims to support businesses affected by Hurricane Helene and aid regional economic recovery. Over 7,300 businesses applied for these grants.
“These grants will go a long way in helping western North Carolina’s beloved small business owners keep their doors open after Helene,” said Governor Josh Stein. “But the volume of unfunded applications makes it crystal clear – more help is desperately needed. I’m ready to work with the legislature to deliver support for small businesses that power our mountain economy.”
Dr. Susan Mims, President and CEO of Dogwood Health Trust, commented on the partnership’s efforts: “The Dogwood Health Trust is proud of this partnership’s work to support small business owners in western North Carolina. The Dogwood Health Trust created the Western North Carolina Small Business Initiative last fall as part of our larger Helene relief efforts. These businesses are vital to the health of our communities, and we must continue to support them.”
The Western North Carolina Small Business Initiative was started by the Dogwood Health Trust and later expanded by the State of North Carolina and the Duke Endowment. It awarded grants up to $50,000 to small businesses with annual revenues up to $2.5 million.
Earlier this week, Governor Stein also announced a new $55 million Small Business Infrastructure Grant Program. This program provides up to $1 million in grants to local governments for rebuilding public infrastructure like sewers and sidewalks that are essential for attracting business.
Governor Stein’s second Hurricane Helene relief budget proposal is expected to include increased support for small businesses in western North Carolina.
A previous version of this release incorrectly stated that 2,812 small businesses were awarded grants instead of 2,182.
