Building or Site Funds

Preparing A New Business Location We get your site shovel, pad or move-in ready, so you can get to work. No site or building is one-size-fits all in economic development. Every project is unique, and requires a site with unique assets. Building and site funds allow North Carolina to help upfit, expand or otherwise invest in sites to get them ready for action, saving companies time and money. Building Reuse Grants The Building Reuse Program under the Rural Economic Development Division at Commerce, provides grants to local governments to help renovate older buildings into attractive business locations.  Funding is available from both state and federal sources, and eligible projects can include currently vacant buildings or buildings occupied by an existing North Carolina company wishing to expand in their current location.  Commerce can also help with the expansion or construction of health care entities that will lead to the creation of new, full-time jobs. Eligiblity requirements differ by program, but in general - these grants go to units of local government located in either a Tier 1 or Tier 2 county, or a rural census tract in a Tier 3 county.  Review the current tier designations . In Tier 1 or Tier 2 counties, priority will be given to towns or communities with populations less than 5,000. Demolition Grants Demolition Grants support the demolition of a vacant building to encourage site rehabilitation and site availability for economic development purposes. Funding is available through the Rural Grants Program and the U. S. Department of Housing and Urban Development (HUD)’s Small Cities Community Development Block Grant (CDBG) program. Shell Buildings Loans for industrial shell buildings are available from the Revolving Loan Fund (RLF) based on the projected number of jobs to be created and the level of distress in the community. Agriculture Sites | Gas Products Fund The Expanded Gas Products Service to Agriculture Fund provides grants to allow the owner of a project that would facilitate new and expanded natural gas and propane gas service, or that would expand agricultural production or processing capabilities, to pay for excess infrastructure costs, or to pay for cost effective alternatives that would reduce excess infrastructure costs.

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