Pasco County has already surpassed last year's full-year capital investment total with one fiscal quarter still to go, according to the Pasco Economic Development Council's Quarter 3 Activity Report for fiscal year 2025-26. The growth is being fueled in part by the EDC's SMARTstart incubator program at the Grove in Wesley Chapel, which logged 496 counseling sessions and 103 events with 732 participants through the third quarter.

The report shows 12 business recruitment and expansion wins generating 275 new jobs and $127.9 million in capital investment through the first three quarters of the fiscal year. That tops the $116.3 million the EDC recorded for all of fiscal year 2024-25, when 21 projects created 547 jobs over 12 months.

The acceleration has been steep. The first-quarter report logged just three wins, 20 jobs and $995,000 in investment. By the second quarter, cumulative figures had climbed to nine wins, 260 jobs and $57.9 million. Based on those cumulative totals, the third quarter alone accounted for three additional wins, 15 jobs and roughly $70 million in new capital commitments.

Recruitment pipeline tops 149 projects, including 64 international prospects

The EDC's recruitment pipeline stood at 149 active projects at the end of the third quarter, including 64 international prospects, 55 domestic and 30 retention or expansion efforts. Staff attended 50 events and conferences and responded to 28 requests for proposals, submitting 16 ready sites.

The business retention team visited 44 existing companies, identified 65 challenges and resolved 62% of them. The team also provided 13 export counseling sessions and connected four businesses to international resources.

Wesley Chapel incubator serves 58 members, adds no new microloans in Q3

The Wesley Chapel incubator, located at 6013 Wesley Grove Blvd., Suite 202, is one of three SMARTstart entrepreneur centers in Pasco County. The program is overseen by Dan Mitchell, the EDC's assistant vice president of entrepreneurship, and serves 58 current incubator members countywide.

Four microloans totaling $109,800 have been awarded this fiscal year, all in the first two quarters. No new microloans were added in the third quarter.

Pasco EDC President and CEO Bill Cronin said in a February press release announcing a Bank OZK donation to the microloan fund that the program "is an important resource for our community's entrepreneurs as they establish and build a strong business foundation."

The program is funded in part by Penny for Pasco, the county's infrastructure sales tax.

Private investment climbs to $524,750 as investor base grows to 92

The EDC raised $524,750 in private investment through the third quarter and added 11 new investors, bringing its total to 92. Grant receipts were listed as pending.

The report does not name the 12 winning companies or specify which projects landed in Wesley Chapel versus other parts of the county.

The next SMARTstart at the Grove event is an Entrepreneur Roundtable on Thursday, Aug. 20, from 12:30 to 1:30 p.m. at the Wesley Chapel location.