Today Governor Josh Stein announced that the Dogwood Health Trust, the Duke Endowment, and the State of North Carolina have distributed $55 million to 2,812 small businesses through the Western North Carolina Small Business Initiative. These grants are supporting western North Carolina businesses impacted by Hurricane Helene and bolstering regional economic recovery. More than 7,300 businesses applied.
“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.”
“The Dogwood Health Trust is proud of this partnership’s work to support small business owners in western North Carolina,” said Dogwood President and CEO Dr. Susan Mims. “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, initiated by the Dogwood Health Trust and then expanded by the State of North Carolina and the Duke Endowment, awarded grants of up to $50,000 to small business with an annual revenue of up to $2.5 million. Earlier this week, Governor Stein announced the new $55 million Small Business Infrastructure Grant Program, which directs up to $1 million in grants to local governments to rebuild public infrastructure like sewers and sidewalks, which small businesses rely upon to attract business. Governor Stein’s second Hurricane Helene relief budget proposal will include increased support for small businesses in western North Carolina.