One North Carolina Fund
One North Carolina Fund supports businesses through equipment, building improvements, and utility infrastructure projects that create jobs, retain and expand companies, and attract new businesses to the state.
Funder: North Carolina Department of Commerce
Due Dates: Rolling (applications, subject to available funds)
Funding Amounts: Negotiated cash grants with tier-based local matching; disbursed in 25% increments as jobs are created
Summary: Supports competitive North Carolina job-creation projects through equipment, building improvements, and utility infrastructure funding.
Key Information: Projects must remain competitive with locations outside North Carolina until the grant is formally awarded.
Description
The One North Carolina Fund (OneNC) is a discretionary, performance-based cash-grant program administered by the North Carolina Department of Commerce on behalf of the Governor. It enables the Governor to respond quickly to competitive job-creation opportunities, supporting the retention and expansion of existing businesses and the attraction of new businesses to North Carolina.
Funding supports equipment purchases or installation, improvements to existing buildings, and specified utility infrastructure serving existing buildings or new manufacturing and industrial facilities. The program uses North Carolina’s county economic development tier system to encourage economic activity in less prosperous areas. Awards consider job creation, investment, project location, economic impact, and importance to the state and region.
