Beyond the Grid: Duke Energy’s $500K Bet on North Carolina’s Main Street

RALEIGH, NC – December 11, 2025 – The Duke Energy Foundation has announced a $500,000 injection into North Carolina’s local economies, a move that goes beyond simple philanthropy to represent a calculated investment in the state's economic grassroots. The initiative will distribute grants of $25,000 to twenty different nonprofit organizations, which will in turn cascade these funds into smaller, targeted awards for the small businesses that anchor their communities.

While the press release highlights a significant corporate contribution, the real story lies in the model’s design and its strategic implications. This is not a broad, untargeted cash drop. Instead, it’s a decentralized strategy that leverages local expertise to fuel tangible growth, one storefront at a time. By empowering local chambers of commerce and development associations, Duke Energy is betting that those closest to the ground know best how to cultivate economic vitality. It’s a move that underscores a growing trend in corporate social responsibility: impact is maximized not by the size of the check, but by the precision of its delivery.

The Micro-Grant Multiplier Effect

The mechanics of the program are designed for direct and immediate impact. Each of the twenty selected nonprofits, from the Beaufort Business Association to the Surry County Economic Development Foundation, will act as a local distribution hub. They will award grants of up to $5,000 to individual small businesses—defined as those with fifty or fewer employees—within their jurisdictions. The funds are earmarked for capital improvements like renovations, technology upgrades, new equipment, or inventory purchases, deliberately excluding operational costs like payroll and rent.

This focus on tangible assets is key. A grant of this size can be transformative for a small enterprise. It could mean a new oven for a bakery, an e-commerce website for a boutique retailer, or an outdoor seating area for a café. These are not just cosmetic changes; they are investments that can directly increase revenue, enhance customer experience, and create a ripple effect in the local economy.

This model builds on a proven track record. Since 2020, the Duke Energy Foundation has channeled over $2.4 million into similar initiatives. Past programs have funded everything from repairing window fronts to helping brick-and-mortar shops pivot online. In Winston-Salem, a wine bar named “Little Pep” used a grant to fund a significant storefront transformation. In Greensboro, a “vibrancy grant” program helped businesses with beautification efforts.

The latest funding continues this legacy. “With Duke Energy's support, DDI will turn business-led ideas into practical improvements that elevate safety, visibility and vitality,” said Nicole J. Thompson, President and CEO of Downtown Durham, Inc., one of the recipient organizations. She pointed to plans for upgrading alleys that connect parking to Main Street, a project designed to “help storefronts shine” and attract more customers.

Similarly, Catherine Glover, Executive Director for the Washington-Beaufort County Chamber of Commerce Community Foundation, emphasized the local impact. “Small businesses are the backbone of Eastern North Carolina, and this funding will help ten outstanding local businesses continue to grow and thrive,” she noted, explaining how $2,500 grants will help strengthen operations and expand reach.

A Strategic Blueprint for Community Investment

This initiative is more than an act of goodwill; it's a core component of Duke Energy's broader corporate strategy. The company’s foundation operates under a mission to “power the vitality of the communities we serve,” with a key pillar focused on building “Vibrant Economies.” By investing in the economic health of its service areas, the utility giant is shoring up the stability of its own customer base.

A thriving community with growing businesses and stable employment translates into reliable customers. This symbiotic relationship is central to understanding why a major energy company is so deeply invested in the success of Main Street. The company’s economic development team already partners with state and local officials to attract large-scale investment—helping bring over 15,000 jobs and $22 billion in capital in 2023 alone. This small business grant program is the other side of that coin, fostering growth from the bottom up.

Furthermore, this community investment is explicitly linked to the company's ambitious energy transition. As Duke Energy invests billions in grid modernization and its goal of achieving net-zero carbon emissions by 2050, it recognizes that such a massive industrial shift cannot succeed without public support and community stability. Its philanthropic arm has committed to investing $150 million over five years in initiatives that align with this net-zero strategy and promote a “just transition,” ensuring that the economic benefits of a cleaner energy future are shared broadly.

Bolstering North Carolina's Economic Engine

The focus on small businesses is a strategically sound decision given their outsized role in North Carolina's economy. According to the latest data from the U.S. Small Business Administration, the state is home to 1.1 million small businesses, which account for 99.6% of all businesses in North Carolina. Critically, they employ 1.8 million people, representing 44.2% of the state's entire workforce.

These enterprises are not just holding steady; they are driving growth. Between March 2023 and March 2024, small businesses were responsible for a net increase of over 52,000 jobs. By directing funds to this dynamic sector, Duke Energy’s program has the potential to punch far above its weight, helping to sustain job creation and foster resilience in communities across the state, from the mountains of Mitchell County to the coast of Pleasure Island.

An Ecosystem of Corporate Citizenship

Duke Energy is not alone in recognizing the importance of investing in small businesses. Other major corporate players in North Carolina have launched their own significant initiatives. Bank of America has committed millions in zero-interest loans to Community Development Financial Institutions (CDFIs) and offers down payment grants for minority and women entrepreneurs. Wells Fargo has partnered with the state’s community college system to fund a startup competition and has donated millions to help small businesses acquire assets like property and equipment.

What distinguishes Duke Energy's approach is its hyper-local, decentralized model. Rather than partnering exclusively with large financial intermediaries, its program empowers a diverse network of twenty local organizations, many of them small chambers of commerce and downtown development associations. This strategy ensures that funding decisions are made by community leaders with intimate knowledge of their area's specific needs and opportunities.

This network-based approach acknowledges that the challenges facing a business in Chimney Rock are different from those in Rolesville. By entrusting these local partners to select recipients and disburse funds, the program fosters a sense of local ownership and ensures the capital is deployed with maximum efficiency and relevance, strengthening the very fabric of communities across the state.