Establishes grant programs for rural and downtown economic development in North Carolina.

The bill creates two grant programs to aid economic development in rural and downtown areas of North Carolina. The Rural Community Development Grant Program provides grants to local governments to attract business investment and promote population and revenue growth. The Downtown Revitalization Grant Program offers grants to local governments and municipal service districts for downtown revitalization. Both programs require a dollar-for-dollar match of non-State funds and individual grants cannot exceed two million dollars.

Establishes grant programs for rural and downtown economic development in North Carolina.

The bill creates two grant programs to aid economic development in rural and downtown areas of North Carolina. The Rural Community Development Grant Program provides grants to local governments to attract business investment and promote population and revenue growth. The Downtown Revitalization Grant Program offers grants to local governments and municipal service districts for downtown revitalization. Both programs require a dollar-for-dollar match of non-State funds and individual grants cannot exceed two million dollars.