Identical to S 530, filed 3/25/25.

Amends GS 143B-437.71, concerning the One North Carolina Fund (Fund), as follows. Allows money in the Fund to now also be allocated to the Agricultural Investment Grant Account (Account), in an amount up to $5 million. Establishes the Account within the Fund to provide competitive grants to eligible agricultural manufacturers, with priority given to recipients that will have the greatest net economic benefit at the regional and State levels (sets out three issues to consider when giving preference). Limits grants to $100,0000 to a single recipient in a calendar year and $55,000 to a recipient in total. Limits grant terms to five years. Requires that the recipient have invested, or intend to, at least $5 million of private funds in improvements to real property and additions to tangible personal property in the project within two-years from when the grant was awarded. Recipients must employ and agree to maintain at least 25 employees during the entire grant period at the project that is the subject of the grant. Requires the recipient to meet an average weekly wage at least equal to 110% of the average wage for all insured private employers in the county. Sets out requirements for an agreement on performance criteria and repayment for failure to meet performance criteria. Makes other technical changes. Effective July 1, 2025.