One North Carolina Fund
North Carolina Department of Commerce / Office of the Governor
Varies — typically $100K–$5M
NC Governor's rapid-response jobs grant
A discretionary cash grant from the Governor's economic development toolkit — designed for rapid competitive response when NC is competing against another state or country for a specific project. Grants are awarded based on job count, capital investment, project location, economic impact, and strategic importance. Unlike JDIG, One NC Fund awards are one-time cash grants (not tied to withholding taxes) and are funded by the NC General Assembly through appropriations.
- Funding type
- Grant
- Level
- State
- Amount range
- $100,000 – $5,000,000
- Realistic amount
- Most One NC Fund awards fall in the $200,000–$2,000,000 range. A 100-job project in a Tier 2 county at $50,000 average w…
- Deadline
- Rolling — no annual cycle. Applications submitted through NC Commerce Business Services Division as projects are in active site selection.
- Status
- active
- States
- NC
- Payment model
- milestone
Who qualifies
- Company must demonstrate active competition from at least one other state or country for the project
- Project must create net new full-time jobs with health benefits at or above county wage thresholds
- One NC Fund is typically used alongside JDIG — many awards combine both programs
- Project must involve new or expanded operations, not relocation of existing NC operations
- Award must be approved before project announcement or site commitment
- Company must enter into an accountability agreement with performance milestones tied to grant disbursement
- Projects in distressed (Tier 1–2) counties are prioritized by statute
Hard requirements
- Must be incorporated
What it covers
Eligible expenses
- Cash grant — no restriction on how recipient uses the proceeds
- Proceeds may be applied to facility construction, equipment, site preparation, or working capital
- Often directed to public infrastructure needs that benefit the project (road access, water/sewer connections) — coordinated with local government
Ineligible expenses
- Retroactive awards (project already announced or started)
- Existing NC employee wages do not generate One NC Fund eligibility
- Transfers of jobs from other NC locations
- Retail, food service, and most consumer-facing businesses (discretionary — NC Commerce evaluates)
How to apply
-
1
Engage NC Commerce during site selection — before any announcement
Contact NC Commerce Business Services Division while the project is still under active evaluation. The fund cannot be awarded retroactively. Bring evidence of competing states or locations.
~12 hrs
-
2
Submit project profile and competitive analysis
Provide job projections, average wages, capital investment plan, proposed county, and evidence of genuine competition (site selection consultant report, competing state offer letter, or executive decision memo).
~12 hrs
-
3
NC Commerce structures the grant offer
NC Commerce models the economic impact and structures a grant offer (total amount, payment schedule, milestone triggers). Award is presented to the Governor for authorization. For large awards, the Economic Investment Committee (EIC) may review.
~12 hrs
-
4
Execute accountability agreement
Company executes a grant accountability agreement with NC Commerce specifying job creation commitments, wage floors, investment minimums, milestone payment triggers, and clawback provisions.
~12 hrs
-
5
Receive grant disbursements tied to milestones
Grant is paid in installments as verified milestones are met — typically tied to verified job counts at agreed wage levels. NC Commerce tracks compliance annually.
~12 hrs
One NC Fund is the 'closing tool' — it's almost always paired with JDIG and used when the project is genuinely at risk of going to another state. Without a real competing offer, approval is unlikely.
Deadline & timing
One NC Fund requires pre-approval before any project announcement or ground-breaking. NC Commerce must be engaged during active competition against another state or country. Awards require Governor's authorization and appropriation availability.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.