One North Carolina Fund

One North Carolina Fund

Funds competitive North Carolina initiatives that generate employment and economic activity through public support.

Eligibility · United States · US-NC

The One North Carolina Fund (OneNC) is a discretionary cash-grant program administered by the NC Department of Commerce on behalf of the Governor, designed to help the state respond quickly to competitive job-creation projects. Grants are awarded based on job creation, investment level, project location, economic impact, and regional importance. The Governor makes the final award decision following Commerce's review and recommendation. Applications are accepted on a rolling basis subject to fund availability, with no fixed annual deadline or published award cap per project.

Eligible uses of OneNC funds include equipment purchase and installation, structural building repairs and improvements, and utility infrastructure construction or improvements for manufacturing operations. The program is open only to for-profit companies whose projects are competitive with out-of-state alternatives; organic growth projects do not qualify. Recipient companies must meet county average wage requirements and provide health insurance with the employer paying at least 50% of employee premiums. A mandatory local government match is required, with the ratio varying by NC county economic tier: Tier 1 (40 most distressed) counties require $1 in local funds for every $3 of OneNC grant; Tier 2 (middle 40) require $1 per $2; Tier 3 (20 least distressed) require $1 per $1. Local match may be cash, fee waivers, in-kind services, or donated land and buildings.

Grant disbursement is performance-based, delivered in four 25% increments tied to verified net new job creation. Companies must maintain at least 90% of new jobs for up to two years after the grant period ends. The tier system prioritizes investment in less prosperous counties and aligns OneNC with JDIG awards, which are often announced alongside OneNC grants for large projects. To win, companies should work through NC Commerce's business recruitment team early, document competitive site-selection alternatives, and demonstrate alignment with the state's targeted industries and county investment priorities.