About 45% of the state’s small businesses are located in counties impacted by Hurricane Helene, representing about 471,000 businesses, 1.1 million workers, and $168 billion in revenue, according to McKinsey & Company, a global management consulting firm. The Federal Emergency Management Agency says 40% of small businesses do not reopen after a disaster. Providing relief to affected businesses can help restore jobs, heal communities, and create positive ripple effects toward recovery.

On October 23, 2024, Governor Cooper issued a $3.9 billion proposal for initial recovery efforts following Hurricane Helene and included damage estimates reaching $53 billion.

The following day, the legislature reconvened to unanimously approve its second recovery relief package, which was signed into law by Governor Cooper on October 25, 2024. The bill appropriated a total of $604 million with $75 million in matching funds for federal disaster assistance. Major components of the bill include:

Local government support

• $50 million for state agencies and units of local governments to assist unmet needs not covered by insurance or available federal aid.

• $5.5 million to the NC League of Municipalities, NC Association of County Commissioners, and NC Association of Regional Councils of Governments to provide technical assistance to local governments.

• $12 million for local health departments to assist in restoring essential functions.

• $100 million for emergency loans to local governments for water and wastewater infrastructure repair and an additional $7 million for technical assistance for infrastructure assessment and design repair efforts.

• $100 million to the Local Government Commission for a cash flow loan program for local governments.

Education

• $55 million for public schools for unmet capital needs and technology not covered by insurance or available federal aid.

• Funding for grants and scholarships for eligible community college, state university, and private college and university students.

Households

• $1 million for rental assistance to households facing crisis such as imminent risk of eviction.

• $9 million for household energy assistance.

• $10 million for weatherization projects.

Business

• $10 million to Smart Start Local Partnerships to assist child care centers in reopening and maintaining operations, including cleaning and repairs.

• $50 million to Golden LEAF for small business loans.

• $6 million for EDPNC for tourism promotion and business loss assessments.

• A measure directing state agencies to "acquire goods and services" from historically underutilized business vendors during rebuilding and relief efforts.

Other

• $40 million for continuing recovery efforts from past natural disasters.

• Support for mental health needs and for human service needs of vulnerable populations.

• Further policies and regulations creating administrative leniency during recovery efforts.

Source: North Carolina Office of the Governor