Between September 2022 and April 2023, Carolina Small Business Development Fund (CSBDF) awarded 88 grants totaling $2,189,646 to small businesses on behalf of the City of Raleigh through the Oak City Biz Labs grant program. Grants ranged from $10,000 to $30,000 and supported a diverse range of firms. The economic impact of the firms supported through the grant program is considerable, as the combined annual revenues of grant recipients totals nearly $55 million. Oak City Biz Labs funding helped program participants retain and create 510 full-time equivalents (FTEs).
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