Approximately $11 million will be allocated for tourism-related capital projects in the Greater Asheville area when the Buncombe County Tourism Development Authority (BCTDA) launches its 2026 LIFT Fund cycle on April 1.
This initiative, the Local Investment in Funding Tourism (LIFT) Fund, targets capital projects designed to increase patronage of lodging, meeting, and convention facilities while delivering broader community benefits, such as improved infrastructure for both residents and businesses.
Growth Amidst Recovery
The launch builds on the significant successes of fiscal year 2025. During that period, meetings and group travel generated $67.4 million in direct spending—a 35% increase. Key growth metrics included:
477 total events (a 15% increase in bookings).
115,393 room nights (a 39% growth).
While tourism employs thousands in hospitality and retail, its rapid growth continues to strain affordable housing and worker retention. These investments are considered crucial for stabilizing businesses and funding resilient infrastructure that creates a sustainable economic ripple effect across Buncombe, Henderson, and Haywood counties.
Strategic Milestones for 2026
At Explore Asheville’s January 2026 partner gathering, several high-profile recovery markers were highlighted, signaling strong momentum eighteen months after Hurricane Helene:
The return of the PGA TOUR to the Biltmore.
Continued growth of MICHELIN-recognized restaurants.
Expansions at Biltmore and the development of a major new bike park.
In a push to support the workforce behind these successes, nominations for the Heroes of Hospitality Awards, which honor frontline workers, remain open through March 31.
Broadening the Economic Impact
Beyond direct tourism, the region is seeing significant investment in workforce development and housing:
A-B Tech recently secured $1.04 million in grants for the ABM Works program, providing internships and training for high schoolers in Asheville, Buncombe, and Madison counties.
The City of Asheville has opened applications for $3 million in HOME-ARP funding (available through May 15) to address housing for those at risk of homelessness.
Between 2020 and 2025, Buncombe’s economic coalition reported 1,627 new jobs with an average wage of $61,520, adding $1.15 billion in property tax value.
Venture Asheville supported 125 startups, yielding 166 jobs and $45 million in investments.
These developments come as local leaders navigate significant budget pressures, including a projected $30 million deficit for the City of Asheville’s 2026–27 budget and a capital spending spike in Buncombe County exceeding $30 million.