Asheville grants $855K to business accelerator, extends recovery program through 2028

June 27, 2026 - 05:53

The City of Asheville has awarded $855,000 to Optimist Ventures, a business accelerator focused on supporting local entrepreneurs who were hit hard by Hurricane Helene. The funding will help the program provide direct grants, mentorship, and operational support to small businesses still struggling to recover from the storm's damage.

In addition to the accelerator grant, city officials voted to extend the broader Helene business recovery program through 2028. The extension gives business owners more time to access relief funds and technical assistance, acknowledging that many are still dealing with supply chain disruptions, property repairs, and reduced customer traffic.

Optimist Ventures will use the money to run cohort-based accelerator sessions, offering participants training in financial management, marketing, and long-term planning. The program also connects business owners with local lenders and investors. City leaders say the goal is not just to help businesses survive, but to build a more resilient local economy.

The decision comes after months of feedback from the business community, which reported that initial recovery programs were too short or too restrictive. The extended timeline is meant to address those concerns. Officials emphasized that the recovery effort is a long-term commitment, not a quick fix.