City’s grant program can help small businesses

ASHEBORO — Asheboro is moving forward with a new small business grant incentives program, a project almost one year in the making. The city council authorized the creation of the program at their March 5 meeting. The incentives are designed support two types of business growth: hiring more employees and building reuse or renovations.

Assistant City Manager Trevor Nuttall said small businesses often struggle to compete for incentives with larger companies, which have more resources to seek and fill out complicated grant applications.

“Bigger outfits know where to look,” Nuttall said. “A smaller business is focused really on doing the day-to-day things, and [grants] take time and money to pursue, and you’re not guaranteed to get them.”

On May 14, 2025, during the 2025-26 budget workshop, City Manager Donald Duncan talked about creating a grant navigation program. Nuttall said when the city hired Nate Marsh as an intern, this was one of the first projects they assigned him. Marsh, now Asheboro’s grants writer and program liaison, will be the point person for applications.

The city’s resolution states the goal is to “increase the population, taxable property, employment, industrial output, and business prospects,” as well as to enhance Asheboro’s commercial districts, downtown, and designated growth areas.

“Oftentimes, people get very excited about landing a new business to the community,” Nuttall said. “Those are big wins, but oftentimes, your success as a local economy really hinges on the health of your existing businesses. By far, small businesses provide the majority of employment here.”

Incentives for jobs and buildings

Asheboro’s program is divided between two types of incentives: Local job creation and building reuse/renovation.

Employers who commit to creating and maintaining at least five new permanent jobs could receive $2,000 per new job for up to 15 new positions.

Property owners or tenants could receive a 50 percent reimbursement up to $25,000 if they commit to permanently improving certain commercial or industrial buildings.

Nuttall said they want to attract businesses already considering an investment but are still on the fence because of cost. This program, he said, could help push them to move forward with their expansion. “Hopefully, it’s a way to give some confidence to businesses that now is the time to do that hiring,” he said.

Nuttall said the city consulted with the Asheboro/Randolph Chamber of Commerce and the Randolph County Economic Development Corporation (EDC). They compared programs already out there, including what they typically don’t provide that could be covered at a local level. For example, Nuttall said many state-level programs require employee compensation packages with a cost too high for small businesses to cover.

The process of applying

First, applicants are highly recommended to begin with a consultation to make sure they meet the qualifications. They can meet with the Chamber, Downtown Asheboro, Inc. (DAI), and EDC. 

“You have a small team to talk to here, and we will help you get through that process,” Nuttall said. “You may align with the program, or you may not, but it’s not going to cost you a lot of time and money to find out.”

Once they fill out an application, it will go to Marsh. Then the Redevelopment Commission will review the applications and do additional consultations as needed. It will make recommendations to the city council, who will hold a public hearing.

Applicants should anticipate it will take roughly 120 days from an initial consultation to the execution of any incentive agreement.

Once approved, the city will authorize an agreement with the business, specifying the performance requirements and the timeframe. If the business meets its obligations, it will submit evidence of satisfaction and request disbursement of funds.

The city’s next step is promoting and educating local business owners of this new program.

Nuttall said, “At the end of the day, what we want to do is expand the job employment opportunity that’s here in Asheboro.”