Duke Energy Foundation has announced it will distribute $500,000 in grants to support small businesses across North Carolina. The funding will be allocated through 20 nonprofit organizations, each receiving $25,000 to provide awards of up to $5,000 for individual small businesses.
The grants are intended to help local businesses such as restaurants and retail stores with renovations, equipment purchases, technology upgrades, inventory acquisition, or other business needs. According to the Duke Energy Foundation, small businesses make up nearly half of North Carolina’s workforce and are vital contributors to the state’s economic activity. Since 2020, the foundation has provided more than $2.4 million for initiatives supporting small businesses.
Kendal Bowman, North Carolina state president for Duke Energy, said: “Supporting small businesses boosts local economic activity, which has a positive impact on the communities and customers we serve. We’re proud to work alongside our community partners to help entrepreneurs and local businesses make their dreams a reality.”
Nicole J. Thompson, president and CEO of Downtown Durham Inc., stated: “With Duke Energy’s support, DDI will turn business-led ideas into practical improvements that elevate safety, visibility and vitality. Upgrading the alleys that connect parking to Main Street will help storefronts shine, help create an engaging environment and attract more customers to discover all that downtown has to offer.”
Catherine Glover, executive director for Washington-Beaufort County Chamber of Commerce Community Foundation added: “With support from the Duke Energy Foundation, 10 Beaufort County small businesses will each receive a $2,500 grant to make meaningful improvements that strengthen their operations, expand their reach, and enhance their customer experience. Small businesses are the backbone of Eastern North Carolina, and this funding will help 10 outstanding local businesses continue to grow and thrive.”
Organizations selected as grant recipients include groups such as Beaufort Business Association; Downtown Salisbury Inc.; Fuquay-Varina Downtown Association; Greater Eden Chamber Foundation; Launchhollysprings Inc.; McDowell Chamber Community and Business Impact; Mitchell Community College Foundation; Montcross Area Chamber; Moore County Economic Development Partnership; Person County Business & Industrial Center; Pleasure Island Chamber of Commerce Foundation; Region A Council; Renaissance Downtown Durham; Rolesville Downtown Development Association; Stokes County Arts Council; The Surry County Economic Development Foundation Inc.; Washington-Beaufort County Chamber of Commerce Community Foundation among others.
The Duke Energy Foundation provides over $30 million annually in philanthropic contributions funded by shareholders. Its parent company Duke Energy is one of the largest energy holding companies in the United States with electric utilities serving millions of customers across several states.
For further information about Duke Energy’s activities or its energy transition plans focused on grid upgrades and cleaner generation sources including renewables and storage solutions visit the Duke Energy News Center.
