Duke Energy Foundation Fuels Economic Growth in North Carolina with $500,000 Grant Program
On December 11, 2025, Duke Energy Foundation announced an impactful initiative aimed at supporting small businesses across North Carolina. The foundation has committed $500,000 in grants to bolster local economies, underscoring its dedication to community development and economic resilience.
1. Grant Distribution Model
The initiative involves the distribution of $25,000 grants to twenty nonprofit organizations throughout the state. These organizations will then allocate funds to individual small businesses, with each business eligible to receive up to $5,000. The financial support can be utilized for a variety of business needs, including renovations, equipment purchases, inventory acquisition, and technological upgrades. This multifaceted approach aims to empower small businesses, which are crucial to the local economic landscape.
2. Significance of Small Businesses
Small businesses represent nearly half of North Carolina’s workforce, playing a pivotal role in driving economic activity within the state. Since 2020, the Duke Energy Foundation has invested over $2.4 million in initiatives aimed at supporting small businesses, reflecting its commitment to fostering sustainable economic growth. The recent grant program further emphasizes this mission, providing much-needed financial assistance to entrepreneurs facing challenges in today's evolving economic environment.
3. Voices from the Community
The announcement was met with enthusiasm from community leaders and stakeholders, who recognize the potential impact of this funding.
- Kendal Bowman, North Carolina state president for Duke Energy, stated, "Supporting small businesses boosts local economic activity, which has a positive impact on the communities and customers we serve. We're proud to work alongside our community partners to help entrepreneurs and local businesses make their dreams a reality."
- Nicole J. Thompson, President and CEO of Downtown Durham, Inc., expressed gratitude for the support: "With Duke Energy's support, DDI will turn business-led ideas into practical improvements that elevate safety, visibility, and vitality."
- Catherine Glover, Executive Director for the Washington-Beaufort County Chamber of Commerce Community Foundation, added, "Small businesses are the backbone of Eastern North Carolina, and this funding will help ten outstanding local businesses continue to grow and thrive."
4. Organizations Leading the Charge
The following nonprofit organizations have been selected to implement the grant program and distribute funds to small businesses within their respective communities:
- Beaufort Business Association
- Chimney Rock Economic Development and Investment Team
- Downtown Salisbury Inc.
- Fuquay Varina Downtown Association
- Greater Eden Chamber Foundation
- Launchhollysprings Inc.
- McDowell Chamber Community and Business Impact
- Mitchell Community College Foundation
- Mitchell County Development Foundation
- Montcross Area Chamber
- Moore County Economic Development Partnership
- Partnership For a Sustainable Community
- Person County Business & Industrial Center
- Pleasure Island Chamber of Commerce Foundation
- Region A Council
- Renaissance Downtown Durham
- Rolesville Downtown Development Association
- Stokes County Arts Council
- The Surry County Economic Development Foundation Inc.
- Washington-Beaufort County Chamber of Commerce Community Foundation
5. Duke Energy Foundation Overview
The Duke Energy Foundation plays a crucial role in community philanthropy, providing over $30 million annually to support various initiatives in the areas where Duke Energy customers live and work. Funded by Duke Energy shareholders, the foundation's efforts are aimed at addressing community needs, enhancing quality of life, and driving economic growth.
6. About Duke Energy
Duke Energy (NYSE: DUK), headquartered in Charlotte, N.C., is one of the largest energy holding companies in America. The company serves 8.4 million customers across several states, including North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, and boasts an energy capacity of 54,800 megawatts. Additionally, Duke Energy is committed to a significant energy transition focusing on reliability, sustainability, and innovation.
With this latest initiative, Duke Energy Foundation continues to demonstrate its commitment to empowering local communities and enhancing the economic landscape of North Carolina, paving the way for a brighter future for small businesses and their employees.
