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Based on data collected by the Pamlico Business Resource Center, Beaufort County and the City of Washington experienced modest economic progress in 2024, reflecting a stable yet evolving economy. The county’s GDP grew by approximately 1.5%, driven by industrial development, business growth, and infrastructure investments.

Beaufort County’s redesignation as a Tier One economically distressed area highlights ongoing challenges, including a declining population and an aging workforce. However, this classification is expected to attract increased state and federal funding, supporting initiatives to attract new businesses and retain younger residents.

The unemployment rate stabilized at 3.8%, closely mirroring North Carolina’s average. The City of Washington remains a hub for employment in healthcare, education, and local businesses. The top employers include Nutrien, ECU Health Beaufort Hospital, Beaufort County Schools, Cleanaire, and the County of Beaufort. Manufacturing expansion, led by companies such as Iconic, IDX, and Hackney, along with newcomers like ProtoTech Manufacturing, BTW Global, and PharMercia, has further diversified the economic base. PharMercia’s $15 million facility, currently under construction, is projected to create 150 new jobs.

Consumer spending remained steady in 2024, with taxable sales reaching $771 million by December. Key spending categories included general merchandise (30%), food (25%), and building materials (15%). Washington’s revitalized downtown area bolstered the retail and hospitality sectors, welcoming eight new businesses this year.

The real estate market in Beaufort County continues to favor buyers, with supply exceeding demand. As of December, 193 homes were on the market, with median values at $350,000 and an average of 75 days on the market. Housing affordability remains a pressing issue, with 31% of households considered cost burdened. The demand for affordable housing continues to outpace supply, posing challenges for low- and middle-income residents.

Public investments in infrastructure continue to pave the way for a brighter economic future in Beaufort County. Upgrades to State Route 264 have enhanced connectivity, driving growth in tourism and local commerce. Key projects, including expansions at the Aurora Industrial Park, enhancements at Washington-Warren Airport, and the planned solar farm in Pantego, highlight examples of movement towards sustainable and forward-looking development.

Strategic initiatives in industrial investment, workforce training, education, and infrastructure promise to build a strong foundation for long-term growth. While challenges such as housing affordability and population stagnation persist, these efforts demonstrate a proactive approach to fostering a resilient and prosperous community.

As the county’s economic engine, the City of Washington is well-positioned to drive these efforts, sustaining its role as a leader in regional prosperity.

The Pamlico Business Resource Center supports local businesses through resources, training, and actionable insights to strengthen the community and promote growth. Through collaboration with public and private stakeholders, PBRC is committed to addressing regional challenges and building a vibrant local economy.

Keith Hudson is executive director and founder of the Pamlico Business Resource Center, a not-for-profit organization serving Washington and Beaufort County.