Pitt County Economic Development (PCED) is the lead economic development agency in Pitt County. Through innovative programs, dedicated staff, and the support of the Pitt County Commissioners and many partners, PCED will lead and support efforts to diversify the economy, expand the local tax base, and enhance the quality of life and business climate in Pitt County.
In May of 1957, the General Assembly of North Carolina enabled the Pitt County Board of Commissioners to authorize a tax for an industrial development commission. The Pitt County Industrial Development Commission was activated in February 1959 and a board was appointed by the Pitt County Commissioners. Beginning FY 21-22, the Commission became Pitt County Economic Development, a department of Pitt County government. The industrial development tax was absorbed into the County’s General Fund ad valorem tax rate.
Pitt County Economic Development recruits new industries and assists with existing industries’ retention and expansion efforts. PCED negotiates incentives for industrial projects that will secure new and expansion investments and the creation of new jobs above the average County wage. Since 1987, over $10 million in economic development incentives have been awarded. Incentives include water, sewer, and gas extensions; road, rail, and site improvements; performance-based grants to companies; and supplemental workforce training. From 1987-2021, nearly 15,000 jobs and over $2.5 Billion in investments by new and expanding industries have been announced.
Pitt County Economic Development also owns approximately 140 acres of industrial property and constructs shell buildings to attract new investment. In the past 2 years, Pitt County has invested over $7 million to provide attractive industrial properties to enhance recruitment efforts.
Additionally, Pitt County Economic Development supports local entrepreneurship opportunities and operates a business incubator/accelerator, the Technology Enterprise Center (TEC). The County purchased the former textile manufacturing facility in 1995 and has expended approximately $4 million to date to purchase and renovate the building. The TEC currently has approximately 35,000 sf of leasable space, 70% of which is occupied by 12 tenants as well as the North Carolina Pharmaceutical Services Network@PCC training facilities.
Pitt County Economic Development works to fulfill its mission through collaborations with many partners, including but not limited to the North Carolina Department of Commerce, the Economic Development Partnership of NC, the NC Biotechnology Center, local municipalities, public-private partnerships, neighbor Counties, East Carolina University, Pitt Community College, and local utilities.