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Luring Business with Venture Funds

About the Project

Location

Washington, NC


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Demographics

  • Located in Beaufort County
  • Population: 9,840 (2006)
  • County seat of Beaufort County
  • Top producer in the state for wheat and corn
  • Second largest producer in the state for soybeans
  • Produces 60 percent of all certified seed in North Carolina
  • Top producer in the state for farm-raised fish
  • Median household income: $22,057 (2000)
  • About 23.3% of families and 28.7% of the population live below the poverty line (2000)

Washington History & Economy

Now a city of approximately 10,000 residents, Washington, NC was established in 1775 on the northern bank of the Pamlico River. Named in honor of General George Washington, the city became the county seat of Beaufort County in 1785. Due to Washington's location at the confluence of coastal and inland rivers, the town developed as a regional shipping center and was recognized as a port in 1784, and was also was a federal supply outpost during the Revolutionary War.

Today, manufacturing is a mainstay of the Beaufort County economy. Over 15 percent of the workforce is employed in the manufacture of everything from world class racing boats to acrylic yarn. Other industries include a wide variety of metalworking and fabrication operations and several plastic injection molding operations as well.

Tourism is also a growing industry in Beaufort County. With numerous waterfront communities, many families and retirees alike have moved to and visited the area and have positively impacted the economy. The rivers and creeks in the area also attract boaters and other outdoor recreation participants throughout the year, such as hunters and fishermen, sailors.

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