North Carolina Injects $8.5 Million to Rebuild Local Business Infrastructure
Raleigh, Saturday, 21 March 2026.
On March 20, 2026, North Carolina allocated $8.5 million to stabilize hurricane-battered economies, funding critical municipal repairs—like burying utility lines—to guarantee long-term commercial resilience for local businesses.
Targeted Capital for Immediate Recovery
Governor Josh Stein, a Democrat, executed this third round of funding under the Small Business Infrastructure Grant Program (SmBIZ) on March 20, 2026 [1][2]. The program allocates nearly $8.5 million across 13 distinct municipal projects in western North Carolina [1][2][6]. The North Carolina Department of Commerce operates this initiative, which was originally capitalized with a $55 million appropriation from the North Carolina General Assembly [1][2]. Since November 2025, the program has disbursed nearly $30 million [1]. This means that approximately 54.545 percent of the total legislative fund has been utilized to date.