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Duke Energy Foundation's Commitment to North Carolina

In a landmark initiative aimed at bolstering local economies, the Duke Energy Foundation has unveiled a significant investment of $500,000 in grants dedicated to supporting small businesses throughout North Carolina. This funding is specifically designed to empower small enterprises that play a crucial role in driving economic growth and job creation within their communities.

Grant Distribution and Impact

The foundation selected twenty nonprofit organizations to receive $25,000 grants, which will subsequently be allocated to local small businesses. Each of these businesses is eligible for awards up to $5,000. This flexible funding can assist them with various operational needs such as renovations, equipment purchases, and inventory acquisition—critical aspects that can lead to improved performance and expanded opportunities.

The influence of small businesses in North Carolina's economic landscape is profound; they employ nearly half of the state's workforce, underscoring their pivotal role in sustaining economic activity. Since 2020, the Duke Energy Foundation has committed over $2.4 million to initiatives aimed at supporting small businesses across the state.

Voices from the Community

Kendal Bowman, Duke Energy's state president for North Carolina, emphasized the importance of this initiative, stating, "Supporting small businesses amplifies local economic activity, positively impacting the communities and customers we serve. Collaborating with our community partners allows us to assist entrepreneurs in realizing their vision."

Nicole J. Thompson, President and CEO of Downtown Durham, Inc., captured the transformative essence of this program. She stated that with Duke Energy's support, Downtown Durham Inc. will implement ideas led by businesses that lead to tangible improvements enhancing safety and visibility in the area, which will undoubtedly attract more customers to explore what downtown offers.

Additionally, Catherine Glover, Executive Director for the Washington-Beaufort County Chamber of Commerce Community Foundation, expressed how the grants would bolster local businesses. She explained that ten Beaufort County enterprises will receive $2,500 each, which will enable them to implement strategic enhancements that strengthen operations and improve customer experience. She articulated, "Small businesses are the backbone of Eastern North Carolina, and this funding will significantly aid their growth."

Organizations Making a Difference

The following organizations have been entrusted with distributing these funds to small businesses within their localities:

1. Beaufort Business Association
2. Chimney Rock Economic Development and Investment Team
3. Downtown Salisbury Inc.
4. Fuquay Varina Downtown Association
5. Greater Eden Chamber Foundation
6. Launchhollysprings Inc.
7. McDowell Chamber Community and Business Impact
8. Mitchell Community College Foundation
9. Mitchell County Development Foundation
10. Montcross Area Chamber
11. Moore County Economic Development Partnership
12. Partnership For a Sustainable Community
13. Person County Business & Industrial Center
14. Pleasure Island Chamber of Commerce Foundation
15. Region A Council
16. Renaissance Downtown Durham
17. Rolesville Downtown Development Association
18. Stokes County Arts Council
19. The Surry County Economic Development Foundation Inc
20. Washington-Beaufort County Chamber of Commerce Community Foundation

Duke Energy Foundation's Vision

The Duke Energy Foundation allocates more than $30 million annually in philanthropic support to address the needs of communities served by Duke Energy. This commitment reflects the foundational belief in sustainable and inclusive growth within local economies. Duke Energy, which operates as a Fortune 150 company headquartered in Charlotte, North Carolina, serves 8.4 million customers across various states and continues to focus on sustainable energy solutions.

The company is actively pursuing an ambitious energy transition while prioritizing customer reliability and value. Investments in grid upgrades and cleaner energy resources—such as natural gas, nuclear power, and renewables—are at the forefront of their strategic initiatives.

For further information, visit Duke Energy's website and stay updated on their social platforms including X, LinkedIn, Instagram, and Facebook. Explore their stories about the innovative people powering the region's energy transition.