NC H552

Creates the Agricultural Manufacturing Investment Grant Account (AMIG) within the One North Carolina Fund with up to $5 million in funding for competitive grants to agricultural manufacturers

Grants are capped at $100,000 per year and $500,000 total per recipient, with a maximum five-year grant term

Recipients must invest at least $5 million in private funds within two years, employ at least 25 full-time employees, and pay wages at least 110% of the county average

Priority given to projects in development tier one or two areas, those using precision agriculture, AI-driven automation, or biotechnology, and those with research and development compensation of at least 10% of annual payroll

Effective July 1, 2025