Western NC Support; Expand Community Economic Development.

HB 994 allocates $20.3 million in nonrecurring funds and $1 million in recurring funds to support Western North Carolina recovery from Hurricane Helene and expand economic development services. The bill directs $10 million specifically for long-term housing recovery for residents in Western NC whose homes were damaged by Hurricane Helene, $5 million to Community Development Corporations (CDCs) statewide to enhance economic development services, and $300,000 to fund three women’s business centers in Western NC, the Triad, and the Piedmont. An additional $5 million supports the Institute Capital (I-CAP) for statewide economic activities, while the recurring $1 million aids ongoing housing recovery efforts and matches federal disaster funds. The bill directly affects Western NC residents impacted by Hurricane Helene, local CDCs, and small business support organizations through targeted financial assistance.