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PNC Announces $1 Million To Boost Economic Development And Preschool Education In Eastern Carolina

RALEIGH, N.C., June 26, 2012 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced a $1 million initiative in grants to eight organizations and other funding in Eastern Carolina to boost economic development, early childhood education and celebrate the region's history.

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"These grants reflect our belief that PNC will only be as strong as the communities where we conduct business," said Paula Fryland, PNC regional president, Eastern Carolinas. "Raleigh and Rocky Mount are key to PNC's expansion in the Southeast. We continue to hire, make investments and grow in Eastern Carolina."

Commenting on PNC's announcement, North Carolina Governor Bev Perdue said: "We welcome PNC's commitment to the state through these significant investments.  They will positively impact our business community and quality of life as well as provide very valuable Pre-K arts enrichment for our youngest children. The PNC leadership team has listened to the needs of the community and responded with this support."

Raleigh: Schools, Ballet and Museum
The grants in Raleigh will introduce Grow Up Great, PNC's signature $350 million, multi-year bilingual initiative to improve early childhood education. PNC's initiative brings together Carolina Ballet, the North Carolina Museum of Art and Wake County Public Schools to create an innovative arts collaborative for the region's youngest students.

Since 2004, Grow Up Great has served more than 1.5 million preschoolers and PNC employees have recorded more than 250,000 hours through a progressive policy that permits 40 hours a year of paid time off for volunteerism.

The two-year initiative in Raleigh will:

  • Create new programs in preschool teacher training and arts activities, including dance and movement, that will reach more children in the metropolitan area
  • Afford preschool students and their families several opportunities to visit the cultural institutions throughout the year
  • Place artists in preschool classrooms where they are able to teach and share their passion for the arts

Rocky Mount: Economic Development, PNC Legacy Project

In Rocky Mount, PNC's efforts focus on economic development, workforce training, early childhood education and a new exhibit to honor the bank's local history. Grant recipients include:

  • City of Rocky Mount to fund a market feasibility study for a potential downtown events center, to determine if it can be an economic engine able to drive traffic to, and spur retail development in, downtown Rocky Mount.
  • Nash Community College (NCC) to fund a "Workplace Skill-Up" program, which offers displaced or unemployed workers in the area an opportunity to develop career readiness and workplace skills most needed by employers in the region. NCC also will offer an "Introduction to the Financial Services Industry" course to teach specific skills for PNC positions in the area.
  • Turning Point Workforce Development Board, in collaboration with Edgecombe Community College (ECC) and NCC, to create a "Workforce Simulation Lab", a facility that will simulate workplace settings to teach employer-preferred skill sets for low-income and hard-to-employ citizens in the area. NCC and ECC will work together to promote these programs.
  • The Down East Partnership for Children will introduce PNC Grow Up Great through a grant to improve its public park and playground. The project, "PNC Grow Up Great at the Discovery Park" will feature a natural, outdoor-learning environment for children. 

The PNC Legacy Project will honor, document and preserve the history of predecessor banks, the employees who guided them and the communities they served.  The project will go on display at Rocky Mount's Imperial Centre for the Arts and Sciences later this year. 

"These initiatives are highly beneficial to our community and demonstrate PNC's commitment to economic development in our region," said Rocky Mount Mayor David Combs.  "We are excited about the future, and look forward to Rocky Mount growing with PNC."   

The PNC Foundation, which receives its principal funding from The PNC Financial Services Group, actively supports organizations that provide services for the benefit of communities in which it has a significant presence. The foundation focuses its philanthropic mission on early childhood education and community and economic development, which includes the arts and culture. Through Grow Up Great, its signature cause that began in 2004, PNC has created a $350 million, multi-year initiative to help prepare children from birth to age 5 for success in school and life.  For more information, please visit and or follow @PNCGrowUpGreat on Twitter.

The PNC Financial Services Group, Inc. ( is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.

Dorsey Tobias
(919) 788-6272

SOURCE PNC Financial Services Group