Grant Funds Solutions for N.C. Defense Sector
NC State’s Industry Expansion Solutions and the North Carolina Department of Military and Veterans Affairs will team up to help defense-related businesses diversify or expand into new markets. The effort is funded by a $2 million grant from the U.S. Department of Defense.
The grant will fund a supply chain study to analyze the economic challenges and opportunities for North Carolina’s defense sector, with the goal of identifying products that are currently imported into the state but have the potential to be procured locally.
The grant will also fund a pilot project led by NC State to deliver direct services to small and medium size businesses in the defense sector to help them thrive and to reduce their dependence on the defense budget.
Defense contracting activity in North Carolina has decreased by $1 billion since 2011 due in part to passage of the 2011 Budget Control Act, which mandated across-the-board reductions in federal spending.