Jennifer Balkcom: The One Big Beautiful Bill Rapidly Phased Out Clean Energy Tax Credits, Raising North Carolinians’ Energy Costs, Slashing Manufacturing Jobs, And Forcing An Asheville-Based Solar Company To Declare Bankruptcy

The One Big Beautiful Bill Rapidly Phased Out Clean Energy Tax Credits Passed Under The Inflation Reduction Act, Which Spurred $24 Billion In Planned Investment In Clean Energy Manufacturing Projects In North Carolina

The One Big Beautiful Bill Rapidly Phased Out Clean Energy Tax Credits Passed Under The Inflation Reduction Act

McDermott Will & Emery: Trump’s One Big Beautiful Bill Accelerated Phase-Outs To The Inflation Reduction Act Of 2022 (IRA) Energy Tax Credits. “On July 4, 2025, US President Donald Trump signed into law a budget reconciliation bill known as H.R.1: the One Big Beautiful Bill Act (OBBBA). The OBBBA generally accelerated phase-outs to the Inflation Reduction Act of 2022 (IRA) energy tax credits, dictated shortened deadlines for project credit qualification (particularly targeting solar and wind facilities), broadened domestic content restrictions, and most prominently, restricted credit availability to ‘prohibited foreign entities’ of concern (FEOCs) – all of which raises important project planning considerations for developers, energy producers, and investors in the US renewables energy space.” [McDermott Will & Emery, 7/7/25]

• The One Big Beautiful Bill Would Require Solar And Wind Projects To Either Start Construction Within A Year Of The Bill’s Passage Or Start Service By The End Of 2027 To Receive The Tax Credits. “The Senate bill passed Tuesday would require solar and wind projects to either start construction within a year of the bill’s passage or start service by the end of 2027 to receive the tax credits. Those that begin construction after this calendar year would be subject to ‘foreign entity of concern’ restrictions so difficult to comply with that experts have said they amount to a ‘backdoor repeal.’ Batteries, nuclear, and geothermal have a longer runway to claim the credits but would have to deal with the same unworkable foreign-entity strictures.” [Canary Media, 7/3/25]

Inflation Reduction Act Clean Energy Tax Credits Incentivized $24 Billion Dollars Of Investment Into Clean Energy Production In North Carolina

2022-2025: News & Observer: $24 Billion Was Invested In NC’s Clean Energy Sector, Creating More Than 20,000 Jobs. “Companies announced plans for more than 20,000 clean energy jobs in North Carolina over eight years, with $24 billion in planned capital spending, according to a list released by state government in December under then-Gov. Roy Cooper.” [News & Observer, 6/14/25]

• 2022-2025: Carolina Forward: The Inflation Reduction Act Invested Billions Of Dollars In North Carolina And “Unlocked Many Billions More In Private Capital.” “Despite the political divide in Washington, the IRA invested billions of dollars in North Carolina, and unlocked many billions more in private capital. Its resulting job creation and infrastructure have been a boon for North Carolina’s economy. The Trump administration’s push to reverse the IRA would threaten to reverse those benefits. According to E2, a nonprofit that tracks the impact of laws on the environment and economy, the IRA’s passage in 2022 has led directly to 24 new economic development projects totaling roughly $21 billion in investment and almost 12,000 new jobs in North Carolina. Texas, Michigan, South Carolina, and Georgia are the only states with more such projects.” [Carolina Forward, 2/3/25]

June 2026: Companies Had Cancelled $2.6 Billion In Clean Energy Projects In North Carolina, As The Loss Of Cost-Saving Clean Energy Tax Credits Disincentivized Investment

June 2026: Clean Air Task Force: $2.6 Billion In Clean Energy Investments In North Carolina Had Been Cancelled. “This map shares information about local private investments stimulated by federal incentives across the United States, including tax credits, grants, and loans. The map provides data of investments filterable by state, congressional district, technology, and status. Status options include: Full Incentive Eligibility: Announced investments proceeding as planned and not expected to be impacted by recent federal policy changes. Incentives Eligibility Impacted: Federal incentives (such as grants, loans, and tax credits) have been narrowed or withheld due to federal (legislative or executive) actions. Canceled: Investments that have been publicly announced as canceled.” [Clean Air Task Force, updated 6/26/26]

Image: see original report, p. 14

[Clean Air Task Force, updated 6/26/26]

The One Big Beautiful Bill Undercut The 176 Announced Projects In North Carolina, “Threatening Billions In Investments, Holding Back Economic Growth, Costing Jobs, And Forcing Families And Businesses To Pay Higher Energy Bills.” “On May 22, the United States House of Representatives passed its 2025 budget Reconciliation legislation entitled the One Big Beautiful Bill Act (OBBBA); the bill has now moved on to the U.S. Senate for committee markups and an eventual vote. The legislation repeals multiple federal policies, funding programs, and tax credits that drive American energy manufacturing and deployment. As passed, the text claws back unobligated funding, expands new oil and gas leasing, changes and eliminates existing energy and manufacturing tax credits, and repeals certain Clean Air Act programs. In particular, the bill drastically changes and terminates existing clean energy tax credits passed by Congress in 2022, which to date have generated $16.2 billion in new private-led investment across 68 domestic energy and manufacturing facilities in North Carolina.1 An additional $7.02 billion of outstanding private investment has been announced across 108 facilities in North Carolina. As passed in the House, the OBBBA would undercut these 176 projects, threatening billions in investments, holding back economic growth, costing jobs, and forcing families and businesses to pay higher energy bills.” [Energy Innovation, June 2025]

CNBC: Cuts To Clean Energy Tax Credits Would Cause Factories To Close And Decrease The Likelihood Of Future Project Development. “President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production. [...] A related tax credit for using U.S.-made components in solar and wind farms ends for projects that enter service after 2027. A carveout allows projects that start construction within one year of the law’s enactment to claim the credit. The credit was designed to spur demand at U.S. factories in order to break the nation’s dependence on equipment from China. ‘If nothing changes, factories start to close,’ Michael Carr, executive director of the Solar Energy Manufacturers Association, told CNBC. ‘Factories that are on the drawing board that probably penciled [favorably] two weeks ago, maybe don’t pencil now. We’ll see investment slow down in the sector going forward.’” [CNBC, 7/3/25]

• The Atlantic: Future Clean Energy Projects Would Cost About 50% More Than Those That Received Tax Credits. “The Senate version of Donald Trump’s One Big Beautiful Bill repeals the clean-energy tax credits in the IRA for all wind and solar projects that don’t begin construction within a year of the bill’s passage or become fully operational by 2028. (And even if a project begins construction in the first half of 2026, it will need to meet extremely onerous domestic-sourcing requirements that many experts believe will be nearly impossible to satisfy.) As a result, future clean-energy projects, including many that have been announced but not yet built, will cost about 50 percent more than those that received the credits, according to an analysis by Jesse Jenkins, who leads the Princeton ZERO Lab. The inevitable result is that far fewer will come into existence. ‘It’s hard to think of a bigger self-own,’ Jenkins told me. ‘We’re effectively raising taxes on the country’s main sources of new power at a time when electricity prices are already rising.’” [The Atlantic, 7/3/25]

The One Big Beautiful Bill’s Cuts To Clean Energy Tax Credits Were Projected Raise The Annual Average Energy Bill For North Carolina Households By Nearly $500 By 2035 As Energy Production Capacity Decreased

2025-2035: Energy Innovation Projected That Annual North Carolina Household Energy Bills Would Increase By 110 Percent, Or $490 Due To The One Big Beautiful Bill

2025-2035: Energy Innovation Projected That Annual North Carolina Household Energy Bills Would Increase By 110 Percent, Or $490 Due To The One Big Beautiful Bill. “The ‘One Big Beautiful Bill Act’ was signed into law by President Trump on July 4th after being passed by the United States Congress. […] The bill will reduce additions of new, cost-effective electricity capacity in North Carolina, raising power prices for consumers and decreasing the state’s GDP and job growth in the coming years. This summary of impacts is an addendum to our national and state-by-state modeling of the House-passed text released on June 11th. […] The loss of low-cost renewables and the resulting increase in gas prices would increase electricity prices in North Carolina. We forecast that wholesale electricity prices increase by 49 percent by 2030 and 110 percent by 2035. Wholesale electricity costs in North Carolina would balloon from $5.1 billion in 2035 with current policies to $10 billion in the Senate scenario, a 110-percent increase over current policies. Utilities are expected to pass these costs on to consumers; we forecast the bill will raise electricity rates by 22 to 35 percent for residential, commercial, and industrial consumers in North Carolina. Households in North Carolina will face significantly increased energy costs: We find $220 annual increases in household energy bills by 2030 and $490 by 2035.” [Energy Innovation, 7/1/25]

2025: Joint Economic Committee Minority: The Average Energy Bill For A North Carolina Household Was $40 Higher Than In 2024

2025: Joint Economic Committee Minority: The Average Energy Bill For A North Carolina Household Was $40 Higher Than In 2024. “While campaigning in 2024, President Donald Trump repeatedly promised that if he was elected, energy bills across the country would be ‘cut in half’ within 12 months. However, this updated Joint Economic Committee – Minority analysis finds that electricity costs increased significantly in 2025, with households in nearly every state paying more for electricity in 2025 compared to 2024. The Committee measured state-level electricity costs for 2025 using monthly electricity bill data from the federal Energy Information Administration (EIA). On average, the Committee finds that American households paid approximately $110 more in electricity costs in 2025 compared to 2024. This is even higher than the increase the Committee projected last November, prior to the release of data for all of 2025. The Committee also finds that annual electricity costs were higher in 2025 in nearly every state, and were at least 10 percent higher in 12 states and D.C.” [Joint Economic Committee, 3/17/26]

[Joint Economic Committee, 3/17/26]

The One Big Beautiful Bill Slashed Clean Energy Tax Credits, Leading To Decreased Energy Supply And Higher Prices

July 2025: Energy Innovation: Decreased Energy Capacity Due To Cuts To Clean Energy Tax Credits In The One Big Beautiful Bill Was Projected To Increase Annual Household Energy Bills. “The ‘One Big Beautiful Bill Act’ was signed into law by President Trump on July 4th after being passed by the United States Congress. The final text slightly modifies the version passed by the U.S. House of Representatives in June, adjusting the timeline for repeal of some energy tax credits, changing domestic sourcing requirements, and excluding the repeal of U.S. Environmental Protection Agency tailpipe rules, which the Senate Parliamentarian ruled could not be included in reconciliation. The bill will reduce additions of new, cost-effective electricity capacity in Florida, raising power prices for consumers and decreasing the state’s GDP and job growth in the coming years. This summary of impacts is an addendum to our national and state-by-state modeling of the House-passed text released on June 11th.” [Energy Innovation, 7/1/25]

• July 2025: Energy Innovation: “By Quickly Phasing Out Technology-Neutral Clean Energy Tax Credits And Adding Complex Material Sourcing Requirements,” The One Big Beautiful Bill “Will Significantly Hamper The Development Of Domestic Electricity Generation Capacity.” “By quickly phasing out technology-neutral clean energy tax credits and adding complex material sourcing requirements, the bill will significantly hamper the development of domestic electricity generation capacity. By 2035, we forecast a 3.5 gigawatt decrease in generation capacity in Minnesota due to the measures in the reconciliation bill.” [Energy Innovation, 7/1/25]

July 2025: Canary Media: Increasing The Nation’s Energy Supply Was Critical To Preventing Energy Price Hikes, As Demand For Electricity Rose Nationwide Due In Large Part To Data Centers. “Clean energy is the cheapest and easiest way to get power onto the grid. With demand for electricity nationwide rising due in large part to AI data centers, swiftly bringing affordable energy online is more crucial than ever. But if tax incentives are repealed, fewer solar, wind, and storage projects will be built. Between now and 2035, the U.S. could see 57% to 72% less new clean-energy capacity come online than it would have with the tax credits in place, according to Rhodium Group. Meanwhile, new gas construction likely can’t make up the difference in the near term: Developers who want to build new gas power plants face wait times of up to five to seven years for turbines.” [Canary Media, 7/3/25]

The Mayor Pro-Tem Of Waynesville Warned That One Big Beautiful Bill Cuts To Clean Energy Tax Credits Would Drive Up Electricity Costs By 15-20 Percent, Jeopardize Clean Energy Manufacturing Projects, And Cut Incentives For The Town’s Energy Upgrades

Chuck Dickson, Mayor Pro-Tem Of Waynesville, NC Said One Big Beautiful Bill’s Cuts To Clean Energy Tax Credits “Will Hurt North Carolina And The Town Of Waynesville If They Become Law.” “On May 22, the House of Representatives voted to pass a budget bill (The One Big Beautiful Bill) that drastically cuts America’s clean energy tax credits. Make no mistake: these cuts will hurt North Carolina and the Town of Waynesville if they become law.” [Chuck Dickson Letter to the Editor, Smoky Mountain News, 6/10/25]

• Waynesville Was Located In North Carolina’s 11th Congressional District. “In the state of North Carolina, the counties where Trump lost his biggest vote share from 2020 to 2024 were Henderson (Hendersonville; 2.2% leftward shift), Buncombe (Asheville; 1.8% leftwards shift), and Transylvania (Brevard; 1.8% leftward shift)—all counties in the 11th located relatively near the liberal anchor of the region—Asheville. Madison (Mars Hill), Avery (Banner Elk), Polk (Tryon), Mitchell (Spruce Pine), Haywood (Waynesville), and Macon (Franklin) counties were also among the NC-11 counties that moved left from 2020 to 2024.” [UVA Center for Politics, 6/17/26]

Dickson Said Cuts To Tax Credits Will Increase Electricity Prices By 15-20 Percent And Jeopardize Clean Energy Manufacturing Projects, Including For Solar, EV, And Batteries. “If the cuts become law, energy prices will rise. Rolling back these tax credits means North Carolina (including Town of Waynesville} electricity users will face prices that are 15-20% higher in the coming years. Manufacturing will slow. Phasing out tax credits that support clean energy manufacturing will jeopardize long-term projects like battery plants, solar panel plants, and vehicle manufacturing facilities. Eliminating clean vehicle tax credits could put up to 100% of planned EV plant construction and a significant portion of existing capacity at risk, according to industry analysists.” [Chuck Dickson Letter to the Editor, Smoky Mountain News, 6/10/25]

Dickson Warned That Waynesville Stood “To Lose Up To $500,000 In Federal Incentives That Would Help Pay For Energy Upgrades For Town Facilities.” “Experts say that these changes will raise energy costs for our households, increase pollution in Western North Carolina, and threaten the growing economic investments we’ve seen in our state. The Town of Waynesville stands to lose up to $500,000 in federal incentives that would help pay for energy upgrades for town facilities. These savings for the town taxpayers will be gone unless the tax credits are preserved.” [Chuck Dickson Letter to the Editor, Smoky Mountain News, 6/10/25]

The House-Passed Version Of The One Big Beautiful Bill Was Projected To Put About 76,500 Jobs In North Carolina At Risk, And The Legislation Had Already Resulted In The Loss Or Delay Of More Than 10,000 Jobs

Blue Green Alliance Projected That The House Version Of The One Big Beautiful Bill Would Put About 76,500 Clean Energy Manufacturing Jobs In North Carolina At Risk. “The direct jobs totals in this brief are calculated from announced job numbers from press releases that the BlueGreen Alliance has collected from several sources. These include: BlueGreen Alliance and Atlas Public Policy’s EV Jobs Hub, Climate Power’s Clean Energy Boom Reports, and the Clean Investment Monitor. This excludes construction jobs building or expanding facilities as well as all the other jobs associated with deploying clean technologies. We focus specifically on manufacturing locations. These are likely to have received either the 48C Qualifying Advanced Energy Project Tax Credit, the 45X Advanced Manufacturing Production Tax Credit, or are in the supply chain for electric vehicles and thus benefit from increased household demand thanks to the 30D New Clean Vehicle Consumer Tax Credit. The indirect and induced jobs numbers in this brief are estimates, calculated by multiplying direct numbers by jobs multipliers published by the Economic Policy Institute. These numbers are a standard product of input-output modeling, which is a common technique used to estimate the impacts of economic development strategies. Input-output models use detailed data about the observed inputs and outputs of different economic sectors. This kind of data shows, for example, how much steel is purchased by durable goods manufacturers and how much employment is required by the steel mill to produce that steel. These numbers shed light on how the economic activity that creates a direct job in manufacturing stimulates economic activity in the supply chain and the economy at large, with that economic activity creating employment of its own.” [BlueGreen Alliance, 6/12/25]

[BlueGreen Alliance, 6/12/25]

• BlueGreen Alliance: “The House Budget Bill, If Enacted, Puts At Risk More Than Two Million U.S. Jobs From The Provisions To Repeal Manufacturing Tax Credits Alone.” “The House budget bill, if enacted, puts at risk more than two million U.S. jobs from the provisions to repeal manufacturing tax credits alone. If the provisions in this bill become law, workers will be the ones to pay the price. It sells them out to foot the bill for a massive tax break for billionaires. Across the country, and in red states especially, this bill would spell the loss of massive job creation and economic stimulus.” [BlueGreen Alliance Research Brief, accessed 10/22/25]

2026: Climate Power: North Carolina Had More Than 10,000 Clean Energy Jobs Lost Or Delayed, The Third Most In The Country, Since Trump’s Election. “43,775 clean energy jobs have been lost or delayed between Trump’s election and June 1, 2026. Companies have canceled, delayed, lost grant funding, or laid off staff at 382 energy projects in 49 states, representing over $69 billion in lost investment.” [Climate Power, 6/8/26]

Image: see original report, p. 18

[Climate Power, 6/8/26]

November 2025: The One Big Beautiful Bill Forced Asheville-Based Solar Development Firm To Declare Bankruptcy, Causing More Than 800 People To Lose Their Jobs

November 2025: Asheville-Based Pine Gate Renewables Filed For Chapter 11 Bankruptcy

November 2025: “Asheville-Based Pine Gate Renewables Files For Chapter 11 Bankruptcy, Plans To Sell Assets.” [Asheville Citizen Times, 11/6/25]

November 2025: Pine Gate Renewables Was “One Of The Leading Solar Development Firms In The U.S.” And Employed More Than 300 People. “Pine Gate Renewables, the Asheville-based renewable energy developer and owner-operator that grew rapidly since opening in 2016, has initiated Chapter 11 bankruptcy proceedings and will sell its assets and operations, the company announced Nov. 6. As one of the leading solar development firms in the U.S., Pine Gate Renewables employs over 300 people in the United States and has closed on approximately $10 billion in project financing and capital investment since it was founded in Asheville, according to its website. It has developed over 100 new solar facilities. The company has more than 30 gigawatts of solar power in development.” [Asheville Citizen Times, 11/6/25]

The One Big Beautiful Bill’s Cuts To Clean Energy Tax Credits “Bankrupted Pine Gate”

November 2025: Benzinga Headline: “Trump’s ‘Big Beautiful Bill’ Just Bankrupted Pine Gate — As Solar Energy Dominoes Are Starting To Fall.” [Benzinga via Yahoo Finance, 11/11/25]

• November 2025: Benzinga Called Pine Crest’s Bankruptcy “The First Major Casualty” Of The One Big Beautiful Bill’s Cuts To Clean Energy Tax Credits. “When President Donald Trump signed the ‘One Big Beautiful Bill’ on July 4, he called it a patriotic win for U.S. energy independence. For the solar industry, it's been anything but. The legislation gutted clean-energy tax credits and tightened rules that once made renewable projects viable. Now, the first major casualty has occurred: Pine Gate Renewables LLC, a North Carolina-based solar developer with over 100 plants and 30 GW in the pipeline, filed for Chapter 11 bankruptcy, citing the sudden collapse in project valuations after the policy change.” [Benzinga via Yahoo Finance, 11/11/25]

Bloomberg Law Headline: “Pine Gate Files Chapter 11 As Trump Policies Hit Solar Firms.” [Bloomberg Law, 11/7/25]

PV Magazine: Pine Gate Renewables “Cited Mounting Legislative And Regulatory Challenges” Including The “Impact Of The One Big Beautiful Bill Act, Which Curtailed Federal Tax Credits And Increased Project Costs” As The Reason Behind Its Bankruptcy Filing. “The acquisition comes just eight weeks after Pine Gate Renewables filed for Chapter 11 protection on November 6, 2025. At the time of the filing, the developer cited mounting legislative and regulatory challenges, citing the impact of the One Big Beautiful Bill Act, which curtailed federal tax credits and increased project costs. Before the filing, the company’s EPC subsidiary Blue Ridge Power laid off over 500 employees.” [PV Magazine, 1/2/26]

• Pine Gate's Chapter 11 Filing Came As The One Big Beautiful Bill’s Sunsetting Of Clean Energy Tax Credits Left Some “Companies That Developed Around Government Incentives Bracing For Impact.” “Pine Gate's Chapter 11 filing comes as the solar industry has faced headwinds under President Donald Trump. With the July passage of the ‘One Big Beautiful Bill,’ tax credits for the industry's industrial and consumer-level products are set to wind down in 2025 and 2026, leaving some companies that developed around government incentives bracing for impact.” [Asheville Citizen Times, 11/6/25]

2025: Pine Gate And Its Subsidiary, Blue Ridge Power, Laid Off More Than 500 Employees

November 2025: Business North Carolina Headline: “Pine Gate Laid Off 500 Workers In October, Another 223 Face Job Losses Amid Bankruptcy.” [Business North Carolina, 11/10/25]

September 2025: Blue Ridge Power, A Subsidiary Of Pine Gate Renewables Announced The Lay Off Of More Than 500 Staffers, Citing “Market Headwinds” “Impacting The Entire Renewable Energy Industry.” “In September, Blue Ridge Power, a subsidiary of Pine Gate Renewables, issued a Worker Adjustment and Retraining Notification, indicating the company would lay off approximately 517 staffers, the Citizen Times reported. At that time, Pine Gate spokesperson Kristen McKenzie said the move came amid ‘market headwinds similar to those impacting the entire renewable energy industry.’” [Asheville Citizen Times, 11/6/25]

November 2025: Charlotte Observer Headline: “NC Solar Plant Closing And Cutting 220 Jobs Amid Trump Policies, Bankruptcy.” [Charlotte Observer, 11/11/25]

November 2025: The Closure Of Pine Gate’s Asheville Facility Caused 223 People In Buncombe County To Lose Their Jobs. “A leading solar energy development firm in North Carolina is closing its Asheville plant and laying off more than 78% of its workforce as it files for bankruptcy due to renewable energy policy changes under the Trump administration. Pine Gate Renewables in Asheville filed a Worker Adjustment and Retraining Notification report with the state on Friday, saying that 223 people in Buncombe County will be impacted by the closure of its Asheville facility. The site will shutter starting on Jan. 5, according to the WARN database.” [Charlotte Observer, 11/11/25]

The One Big Beautiful Bill Revoked Unspent Funding Under The Greenhouse Gas Reduction Fund, Stalling A Program To Upgrade Municipal Energy Systems To Reduce Utility Bills In Western North Carolina

A Provision In The OBBB Rescinded Unspent Funds In The Greenhouse Gas Reduction Fund. SEN. SHELDON WHITEHOUSE (D-RI): “But today, I want to focus on section 60002 of the so-called ‘One Big Beautiful Bill Act,' which repealed and rescinded all unobligated funds from the Greenhouse Gas Reduction Fund. There has been some spin put on this section, including in court filings. And so I aim to fix some misconceptions, with the help of the Congressional Budget Office and the relevant Republican House subcommittee chair.” [Congressional Record, 7/9/25]

• Congress Revoked Unspent Funding Under The Greenhouse Gas Reduction Fund. “An EPA spokesperson said the agency is working to rescind the Greenhouse Gas Reduction Fund since Congress voted to revoke unspent dollars last month — congressional Democrats dispute that the action applied to obligated funding. The spokesperson highlighted $409.4 million that EPA approved last week for improving the state's drinking water infrastructure.” [Politico, 8/22/25]

A Program From Mountain BizWorks “To Provide Low- To No-Interest Loans To Help Towns Pay For Energy Efficiency, Solar And Battery Upgrades To Reduce Municipal Utility Bills” Was Stalled When It Never Received Its Greenhouse Gas Reduction Fund Award. “Community lender Mountain BizWorks had planned to provide low- to no-interest loans to help towns pay for energy efficiency, solar and battery upgrades to reduce municipal utility bills, said Christine Laucher, the nonprofit's strategic partnership manager. But that program is stalled because the towns backed away when the Greenhouse Gas Reduction Fund dollars and Mountain BizWorks' $11 million award never materialized. ‘One piece that's been a challenge with some of these smaller towns is that their community isn't necessarily clamoring for clean energy, but they would be really excited by cost savings,’ Laucher said. ‘That money would have really gone a long way in supporting the rebuilding of western North Carolina.’” [Politico, 8/22/25]

• Mountain BizWorks Was An Asheville-Based Community Development Financial Institution. “We’re building a vibrant and inclusive entrepreneurial community in Western North Carolina. Mountain BizWorks was founded by entrepreneurs in Asheville, NC in 1989. We believed in the WNC region way back then— before it was a nationally acclaimed destination for outdoors, tourism, food and beer. We knew it was possible, so we set out to create a supportive local business environment where entrepreneurs could thrive. And it worked! We are a U.S. Treasury certified non-profit Community Development Financial Institution or CDFI— what’s a CDFI?” [Mountain BizWorks, accessed 8/14/26]