Grants and Loans
The City of Morganton offers grant/loan programs for the purposes of economic development and to stimulate economic activity.
- Commercial Street Participation
- CDBG Small Business Loan Program
- Development Incentive Grant
- Residential Street Participation
Loans are also available through Burke Development, Inc. (BDI). BDI is a nonprofit organization supported by private and public funding that is charged with accelerating economic growth in Burke County. BDI works with industry leaders, site selection consultants, government agencies and other entities to facilitate expansion and development strategies for existing businesses and recruit target industries to Burke County.
The City of Morganton Community Development Block Grant (CDBG) Small Business Loan Program (SBLP) is a competitive, low interest loan program offering between $5,000 and $30,000 for new or expanding small businesses in the City limits of Morganton that employ individuals that meet low to moderate-income criteria. Funds may be used by small business owners for a variety of purposes to encourage small business entrepreneurship.
The City of Morganton has long committed itself to promote sound growth within the community. It is acknowledged that with this commitment comes added responsibilities and increased costs. An important component of sound growth is the ability to forge public-private partnerships to bridge the commitment of the community with necessity to stimulate economic development. These partnerships promote common goals and reduce the tension often found between developers and regulating agencies. Research has shown time and time again where the public sector and private sector work in unison with one another the final product becomes much more sound for all parties involved. The City recognizes the importance of public-private participation in the development of the community, and for that reason hereby adopts the following policy on commercial street participation for economic development purposes.
The Development Incentive efGrant (DIG) program is designed to accomplish a combination of goals related to economic development and community development efforts identified within the adopted Mission 2030 Plan. Economic vitality and sustainability is targeted in Morganton’s efforts to reverse 20 years of economic decline.
The DIG program provides local developers, financial institutions, investors, and landowners a unique opportunity to obtain financial support from a joint effort between the City of Morganton and Burke County. Capital investment is one of the methods required to advance community wide long range economic and community planning goals. For a period of time, financial incentives will be made available for both large and small economic development projects determined to meet the general and specific guidelines established.
The City of Morganton has long committed itself to promote, stimulate and maintain a strong economy within the community. It is acknowledged that this commitment sometimes requires added public responsibility and costs during times of economic downturn. One of the ways Morganton has found to engage the private sector and encourage investment is through public-private partnerships. These partnerships create a bridge to combine economic resources of the City and private development community. This generally results in a stimulation of economic activity and private investment during slow economic times. These partnerships also promote common goals of employment and new tax base. Another dividend of these partnerships would be reduction of tension often found between developers and local regulatory government. Research has shown time and time again where the public sector and private sector work in unison with one another the final product becomes much more sound for all parties involved. The City recognizes the importance of public-private participation in the development of the community, and for that reason hereby adopts the following policy on residential street participation to stimulate economic activity.
Mission 2030 Plan
Hunting Creek, located in eastern Morganton and Burke County, has been included on the “Impaired” waters listing for the State of North Carolina. Based on this listing, this study has been completed during the past two years (through a grant received by a local non-profit) to study in detail the issues associated with this impairment designation.
Lee Anderson • Director
Development & Design
The Development and Design Department is located on the second floor of City Hall.