Economic Catalyst Program

Golden LEAF Foundation

Program Type:

Grant

Eligible Geography:

North Carolina

Summary:

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.

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.

Proposals for Economic Catalyst grants should be coordinated with the other economic development entities, including:

-North Carolina Department of Commerce,
-the Economic Development Partnership of North Carolina and
-local and regional economic development organizations.

The Golden LEAF Foundation will consider at least the following factors when determining whether to fund a project and at what level:

-the economic distress of the community in which the jobs would be created,
-the number of jobs to be created,
-the quality of jobs to be created, measured by factors including wages paid and skill levels involved.

Eligible Recipients:

Local Government; Non-Profit Organization

Eligible Recipients Detail:

Eligible applicants are governmental entities and 501 (c)(3) nonprofit organizations.

Eligible Purpose:

Broadband Enabled Devices (General); Last Mile Connectivity; Building Connectivity; Broadband-Technologies Workforce Training; Digital Inclusion/Digital Skills Training; General Infrastructure (Attached to Job Creation); Anchor Institution Connectivity

Eligible Purpose Detail:

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. 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.

Examples of eligible projects include:

-Funding to help with the delivery of training programs offered by eligible entities, typically the local community college.
-Funding for costs associated with public infrastructure improvements, such as water and sewer, that are needed for the project.
-Funds for purchase of equipment to be owned by the grantee and leased to the business at a rate that allows recovery of the full cost of the equipment plus interest at the IRS-determined Applicable Federal Rate over the life of the lease.