NFIB is closely monitoring new legislation that could provide significant support to small businesses. The proposed bill, H.283, aims to update the state’s One North Carolina Fund. If enacted, it would allocate up to $3 million for the Small Business Research and Technology Account and up to $10 million for a newly established Small Business Investment Grant (SBIG) Account.
The SBIG grants are designed to assist small businesses with expenses related to opening new locations or expanding existing operations within the state. Eligibility criteria for these grants include having fewer than 250 full-time employees or annual revenue under $5 million. Additionally, businesses must plan investments ranging from $10 million to $30 million and offer wages above the local average.
“This bill would really help small businesses grow and add jobs,” stated NFIB State Director Gregg Thompson. “It encourages investment in our communities and makes sure local businesses have the support they need.”
