Asheville’s Dogwood Health Trust announced an additional $20 million commitment to respond to the devastation caused by Hurricane Helene in western North Carolina. This third round of funding adds to previously combined investments of more than $50 million.
The trust was formed after the $1.5 billion sale of Mission Health to HCA Healthcare. The group is led by a board of community leaders who focus on improving healthcare outcomes in the region. The hurricane in late September has been called the worst natural disaster in state history, sparking estimates that nearly $60 billion will be required to rebuild a wide swath of North Carolina.
Dogwood says it is committed to short-term relief and long-term recovery throughout the region. That includes a focus on financial support for small businesses in the hardest hit areas, plus long-term investments in early childhood education, out-of-school time programming and community behavioral health services.
“We are continuing to prioritize support for the things that drive health for our region,” CEO Susan Mims said in a release. “When you pair the $70-plus million in Helene relief with our other 2024 annual grantmaking and impact investing, the total is more than $200 million invested in the region this year alone.”
Dogwood cited FEMA research showing as many as 43% of affected businesses are at risk of permanent closure following major disasters. The N.C. Office of State Budget and Management says even small amounts of funding can help businesses reopen more quickly and reduce their interruption losses.
In October, Dogwood provided a $10 million grant to the Western North Carolina Small Business Initiative, led by Appalachian Community Capital. Now, Dogwood is contributing an additional $10 million to the initiative. More than 3,000 small local businesses applied for assistance through the initiative’s fund, with 322 grants being made so far, totaling $6.83 million.
Qualifying businesses can receive grants of up to $25,000 to offset physical or financial damage incurred from Hurricane Helene.
Dogwood has also committed $3.5 million toward stabilizing the early childhood education provider workforce. Dogwood is making these grants to all eight local Smart Start partnerships in WNC. The funding helps providers retain teachers and replace lost revenue from center closures.
“If early childhood professionals leave our workforce, parents have a harder time finding a place where their kids can be cared for, grow and learn. In communities hardest hit by the storm, the availability of high-quality early education is already extremely limited,” said Mims.
Another $660,000 in grants are being provided to 27 Out-of-School-Time partners within Dogwood’s WNC After 3 PM Collaborative. Those programs are in Avery, Buncombe, Mitchell and Yancey counties.
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.