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      
            Alexander                       $50,000
    Development Corporation



            Caraway Foundation             
            Anson                           $25,000



            Clinton Downtown Initiatives   
            Sampson                         $50,000



            Davidson-Davie Community       
            Davidson                        $25,000
    College Foundation



            Downtown Asheboro              
            Randolph                        $25,000



            Downtown Greensboro            
            Guilford                        $25,000
    Foundation



            Downtown Winston-Salem         
            Forsyth                         $25,000
    Foundation



            Durham Chamber Legacy          
            Durham                          $50,000
    Foundation



            Flywheel Foundation            
            Cabarrus                        $25,000



            Friends of the Land of Sky              Buncombe, Madison, Yancey,      $25,000
    Regional Council                        Mitchell, Avery



            Heart of Brevard               
            Transylvania                    $25,000



            Jacksonville Onslow Economic   
            Onslow                          $25,000
    Development Partnership



            Jones County Committee of 100  
            Jones                           $25,000



            Lumberton Economic             
            Robeson                         $25,000
    Advancement for Downtown



            Montcross Tomorrow Chamber     
            Gaston                          $50,000
    Foundation



            Raleigh Civic Ventures         
            Wake                            $50,000
    (Downtown Raleigh Alliance)



            Region A Foundation                     Clay, Cherokee, Graham,
                                                      Haywood,                       $75,000
                                            Jackson, Macon, Swain



            Rutherford Town Revitalization 
            Rutherford                      $25,000



            Vance-Granville Community      
            Vance                           $50,000
    College Endowment Fund



            Wilkes Economic Development    
            Wilkes                          $25,000
    Corporation

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 Twitter, LinkedIn, Instagram 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

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SOURCE Duke Energy