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Vice President Kamala Harris Announces $32 Million in Funding for North Carolina Small Businesses

Vice President Kamala Harris recently announced that $32 million in federal funds will be provided to support small businesses in North Carolina. These funds are part of the American Rescue Plan and will be distributed through the Treasury DepartmentÔÇÖs State Small Business Credit Initiative.

This funding will specifically benefit 10 women and minority-led venture capital firms, allowing them to invest in their companies and further develop their entrepreneurial endeavors. Harris highlighted that the funds will support clean energy, AI, and technology companies, emphasizing the importance of innovation in these sectors.

Accompanied by Deputy Secretary of the Treasury Wally Adeyemo and Governor Roy Cooper, Harris underscored the significance of financial backing in starting and sustaining successful businesses. Cooper emphasized that many individuals possess promising ideas and strong work ethics, and with capital investment, they can establish thriving enterprises.

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The Biden-Harris Administration anticipates that this funding will attract an additional $60 million in private investment, resulting in a total of over $90 million to support the growth of underserved small businesses in North Carolina. Harris emphasized that strengthening local economies through such investments benefits communities at large.

This initiative is part of the administrationÔÇÖs Investing in America tour, strategically timed just days before Super Tuesday. Harris’ visit marks her 10th trip to the state since assuming office as Vice President, demonstrating the administration’s commitment to fostering economic opportunities and growth.

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