Governor Josh Stein has announced the distribution of $55 million in grants to 2,182 small businesses in western North Carolina. The funds were provided through a collaboration between the Dogwood Health Trust, the Duke Endowment, and the State of North Carolina. This initiative aims to aid businesses affected by Hurricane Helene and stimulate economic recovery in the region.
“These grants will go a long way in helping western North Carolina’s beloved small business owners keep their doors open after Helene,” stated Governor Stein. He emphasized the need for additional support, saying, “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, expressed pride in the partnership’s efforts: “The Dogwood Health Trust is proud of this partnership’s work to support small business owners in western North Carolina.” She noted that these businesses are essential to community health and require ongoing assistance.
The Western North Carolina Small Business Initiative was initially launched by Dogwood Health Trust and later expanded with contributions from the state and Duke Endowment. Grants of up to $50,000 were awarded to businesses with annual revenues up to $2.5 million.
In addition, Governor Stein recently introduced a new $55 million Small Business Infrastructure Grant Program aimed at rebuilding public infrastructure crucial for small business operations. His second relief budget proposal for Hurricane Helene will seek increased backing for small enterprises in the area.
A correction was made regarding an earlier release which inaccurately reported that 2,812 businesses received grants instead of 2,182.
