One North Carolina Fund
North Carolina Department of Commerce
Awards are based on:
- The number of jobs created
- The level of investment
- The location of the project
- The economic impact of the project
- The importance of the project to the state and region
One North Carolina awards are allocated to local governments as part of a negotiated challenge grant.
By statute, OneNC requires that a local government provide an incentive to match the OneNC funding. The required local match depends on the tier designation of the county
- In a Tier 1 county, the local government must provide no less than one dollar for every three dollars provided by One NC.
- In a Tier 2 county, the local government must provide no less than one dollar for every two dollars provided by One NC.
- In a Tier 3 county, the local government must provide no less than one dollar for every one dollar provided by One NC.
Applications are accepted on an ongoing basis and subject to availability of funds. The North Carolina Department of Commerce reviews applications and makes recommendations for funding to the Governor
Funds awarded from the One North Carolina Fund to a company must be used for:
- Installation or purchase of equipment
- Structural repairs, Improvements or renovations of existing buildings
- Construction of or improvements to water, sewer, gas or electric utility distribution lines or associated equipment for existing buildings
- Construction of or improvements to water, sewer, gas or electric utility distribution lines or associated equipment for new or proposed buildings to be used for manufacturing and industrial operations
Who Can Apply
The following criteria must be met:
- The project must be competitive with locations outside North Carolina and remain competitive until the grant is formally awarded
- The project must meet the county average wage requirement
- The local government must match the grant via cash, fee waivers, in-kind services, infrastructure improvement or donations of land, buildings or other assets
- The company must provide health insurance and pay at least 50% of the premiums for participating employees
- The company must meet statutory occupational safety and environmental compliance requirements
Additional Eligibility Requirements
For additional information, contact the North Carolina Department of Commerce at (919) 814-4600