Golden LEAF will consider applications to assist eligible state, regional and local economic development entities with grants to support permissible activities in projects in which a company will commit to create a specific number of full time jobs in a tobacco-dependent or economically distressed area. Applicants are strongly encouraged to contact Golden LEAF staff to discuss the potential projects and conditions that may be applicable prior to submitting an application.
Eligible applicants are governmental entities and 501 (c)(3) nonprofit organizations.
Applications in this program must be for projects that will lead to job creation by a company that will commit to create the jobs if Golden LEAF provides a grant for the project.
An application for funding must be submitted before the project announces its decision to locate and create jobs in North Carolina.
Competitive applications will include information showing that the expected job creation is AT RISK without Golden LEAF support. An applicant can demonstrate that a project is AT RISK by identifying a funding gap that exists that would significantly impair the applicant’s ability to attract the anticipated jobs if Golden LEAF does not make a grant for the project.
Examples of other factors that may be considered to determine whether a project is AT RISK without Golden LEAF support include:
Proposals for Economic Catalyst grants should be coordinated with the other economic development entities, including:
Grants are available only for projects that include a specific company’s commitment to create full-time jobs in NC. Full-time jobs are defined as jobs that provide 1,600 hours or more per year of work. Companies must provide at least 50% of the cost of employee-only health insurance for full-time employees.
The Golden LEAF Foundation will consider at least the following factors when determining whether to fund a project and at what level:
Examples of other factors Golden LEAF may consider when determining the amount and availability of funding for a project include:
Economically distressed or tobacco-dependent communities that are located in high wealth counties may make the case for support because the project will be located in a low-wealth area or an area with negative trends in employment, income, poverty, or similar factors.
Applicants must identify specific charitable, educational, or scientific uses for Golden LEAF funds, as defined by Section 501 (c)(3) of the Internal Revenue Code, that are directly related to the project. Golden LEAF may require the applicant to demonstrate that the company that will commit to create the promised jobs is obligated to repay a pro rata amount of the grant if there are job creation shortfalls. Examples of eligible projects include:
Economic Catalyst proposals may be submitted throughout the year and will be presented to the Golden LEAF Foundation Board at the next regularly scheduled meeting that is not less than six weeks after submission of the completed proposal. The proposal may be submitted at an earlier Board meeting if Golden LEAF is able to complete its review of the proposal prior to the meeting. Applicants should inform Golden LEAF if their projects are urgent and should specifically identify the reason for the urgency.
Golden LEAF is subject to North Carolina’s Open Meetings laws and the North Carolina Public Records Act. Please follow the link below for more details regarding how those laws affect Golden LEAF and its review of certain economic development projects and the circumstances under information may be kept confidential.
Only 501(c)(3) nonprofit organizations and governmental entities may apply.
Stay connected with Golden LEAF by signing up for our e-newsletter. You can also follow us on Twitter, Facebook, and LinkedIn.