Revitalizing Main Street: $700,000 of new funding available to North Carolina small businesses through Duke Energy Foundation program

  • Duke Energy partnership with community development organizations will provide grants to help small businesses expand

CHARLOTTE, N.C., Aug. 15, 2024 /PRNewswire/ — The Duke Energy Foundation today announced $700,000 of new funding will be made available to North Carolina small businesses in partnership with community development organizations. Small business grants ranging from $1,000 to $5,000 will be distributed through 20 community organizations to support retail shops, restaurants and other small businesses looking to expand, upgrade technology and improve downtown storefronts.

Now in its fourth year, the grant program has provided over $2 million in funding to small businesses since its inception during the COVID-19 pandemic.

“The Duke Energy Foundation’s small business grant program has helped fuel a resurgence of entrepreneurial small businesses in North Carolina ranging from bookstores to restaurants,” said Kendal Bowman, president of Duke Energy North Carolina. “These small business grants ensure Main Streets across our state are well positioned to benefit from economic development efforts.”  

Small businesses play a critical role in the state’s economic health and employ nearly half of North Carolina’s workforce, according to the U.S. Small Business Administration. Anna Impson and Rebekah Rhoden, owners of Little Pep in Winston-Salem, used funding from the grant program to improve the bistro’s storefront last year and attract new customers.

“Receiving a grant from the Downtown Winston-Salem Partnership and the Duke Energy Foundation allowed us to improve and restore our historic storefront and give it the charm and character it deserves,” said Impson and Rhoden. “We’re thankful that the Duke Energy Foundation helped us make our dreams a reality, and we’re excited to have brought Little Pep to our vibrant downtown.”

Bill King, president and CEO of Downtown Raleigh Alliance, sees the funding as essential to community improvement efforts.

“This tremendous support from the Duke Energy Foundation is a huge boost to our efforts to revitalize downtown Raleigh and will go directly to support our small, locally owned businesses,” said King. “Since the pandemic, Duke Energy has set a standard for corporate support through its generous and focused efforts on bringing back main streets and small business communities that form the backbone of places like downtown Raleigh.”

Small businesses interested in applying for funding are encouraged to inquire with the local nonprofit administering the program for their community. A full list of recipients can be found below with quotes from each organization available here.

Small Business Grant Program Recipients

Organization

Counties Served

Grant Amount

Alexander County Economic

Development Corporation

Alexander

$50,000

Caraway Foundation

Anson

$25,000

Clinton Downtown Initiatives

Sampson

$50,000

Davidson-Davie Community

College Foundation

Davidson

$25,000

Downtown Asheboro

Randolph

$25,000

Downtown Greensboro

Foundation

Guilford

$25,000

Downtown Winston-Salem

Foundation

Forsyth

$25,000

Durham Chamber Legacy

Foundation

Durham

$50,000

Flywheel Foundation

Cabarrus

$25,000

Friends of the Land of Sky

Regional Council

Buncombe, Madison, Yancey,

Mitchell, Avery

$25,000

Heart of Brevard

Transylvania

$25,000

Jacksonville Onslow Economic

Development Partnership

Onslow

$25,000

Jones County Committee of 100

Jones

$25,000

Lumberton Economic

Advancement for Downtown

Robeson

$25,000

Montcross Tomorrow Chamber

Foundation

Gaston

$50,000

Raleigh Civic Ventures

(Downtown Raleigh Alliance)

Wake

$50,000

Region A Foundation

Clay, Cherokee, Graham, Haywood,

Jackson, Macon, Swain

$75,000

Rutherford Town Revitalization

Rutherford

$25,000

Vance-Granville Community

College Endowment Fund

Vance

$50,000

Wilkes Economic Development

Corporation

Wilkes

$25,000

Duke Energy Foundation 

The Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation is funded by Duke Energy shareholders.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on TwitterLinkedInInstagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Garrett Poorman

Twitter: @DE_GarrettP

24-Hour: 800.559.3853

SOURCE Duke Energy


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