Economic Development Strategy

Retain and Expand Existing Businesses
- Develop a public/private business visitation program.
- Develop an inventory of ready-to-use industrial and commercial space.
- Respond quickly and aggressively to the needs of existing companies who need more space or might be considering relocating outside the County.
- Make sure that the development review and permit process is expeditious and fair.
- Determine what incentives, if any, might be used to support retention and expansion efforts.
Attract Appropriate New Businesses
- Develop a list of target businesses most appropriate for and most likely to be attracted to Prince George’s County.
- Develop a cost-effective marketing plan to successfully reach and attract target businesses.
- Leverage County business attraction resources and efforts with regional and state business marketing programs.
- Develop a special initiative to recruit additional, prominent, minority-owned businesses to Prince George’s County.
- Make sure that the development review and permit process is expeditious and fair.
- Develop and seek County-wide use of a new marketing logo and slogan. Seek support and involvement of the Prince George’s County Conference and Visitors Bureau, business organizations, etc. in using a new logo and slogan.
Provide and Promote Quality Public School Education and Quality Job-Training and Placement Services
- Support efforts to assure that graduates of Prince George’s County’s public schools are prepared to be workers well qualified for the County’s current and future employers.
- Help to promote the successes of Prince George’s County’s public schools.
- Better link job-training programs to economic development initiatives.
- Coordinate the County’s educational, job-training and business organizations to support work force preparedness efforts.
Promote the Growth and Development of High-Tech Companies
- Develop strategies to retain, expand and attract high-tech companies.
- Support technology transfer efforts involving local universities and federal government agencies.
- Enhance and market the technology locally available, to attract firms to the County which have the potential to utilize and commercialize this technology.
- Support the high-technology incubator concept and develop a plan to keep high-technology firms, which are graduating from such incubators, in the County.
- Promote the fact that several high-tech companies, agencies and institutions are already in the County by designating an area called the High-Technology Triangle.
Promote Strategic Retail Development in the County
- Create a public/private initiative to develop a retail strategy for the County.
- Map the location and market-reach of competing upscale malls in the region.
- If the expected opportunity for additional upscale-retail exists in Prince George’s County, aggressively recruit the appropriate upscale-retailers and developers who cater to them.
- Develop a program to revitalize older retail areas and shopping centers in target communities around the county.
- Recruit finer restaurants for certain target locations.
- Determine and provide whatever incentives, if any, might be required to support retail development.
Assist in the Revitalization of Inner-Beltway Communities
- Develop a program to promote neighborhood commercial revitalization.
- Seek coordination of business development programs in neighborhoods where housing rehabilitation and economic development is, or may be occurring.
- Seek new resources and programs to promote inner-beltway business investment and job creation.
- Utilize the State's "Smart Growth" legislation and Enterprise Zone Program as an aid to inner-beltway revitalization.
- Explore the utilization of Federal EPA's Brownfields Pilot Project to help prepare abandoned and potentially contaminated sites for development.
- Cooperate and coordinate with the efforts of the new Redevelopment Authority, Revenue Authority and other public and private entities with resources and the capability to help promote inner-beltway development.
- Coordinate economic development efforts with public safety incentives.
Assist and Promote Small and Minority Businesses
- Assure that the financing and technical assistance needs of small and minority businesses are adequately met.
- Seek to establish a Micro-enterprise Program.
- Work to increase cooperation between and seek to leverage the programs of all public and private organizations who assist and promote the development of small and minority businesses.
- Explore the development of small business incubators in various parts of the County.
Vigorously Promote the County as a Place in Which to Invest, Work, Live, Visit and Recreate
- Leverage and seek to coordinate the marketing efforts and resources of industrial, commercial and residential developers and brokers.
- Develop a public/private employee recruitment and relocation package to assist companies considering relocating to the County.
- Explore ways in which to market the county via the presence of its professional and semi-pro sports teams, race tracks, theme parks, Interstate 95, Andrews Air Force Base, etc.
- Try to make sure that Prince George’s County is mentioned as part of the local address, whenever possible, in all forms of communication.
- Develop a common, mutually-reinforcing marketing plan (new logo and slogan), in conjunction with the Prince George’s County Conference and Visitors Bureau and other potential marketing partners.
- Where possible, support new tourism and convention projects.
- Supports efforts to assure that the County’s conference, convention and tourism infrastructure (hotels, meeting space, etc.) is adequate.
Encourage International Trade and Commerce with Targeted Countries
- Support efforts to encourage and assist County business with new and increased exports of their products and services.
- Develop international trade and commercial relations with countries providing the most opportunities for County firms.
- Support trade and commerce with sister cities and regions.
- Effectively manage and market the County’s Foreign Trade Zone.
Secure and Raise the Funding Necessary to Effectively Implement the Economic Development Strategy
- Apply for all federal and state economic development grants and other resources for which the EDC and County might be eligible.
- Development economic development funding mechanisms that are performance-based (i.e. -generate revenues out of successful economic development projects stimulated by the EDC or County’s economic development efforts).
- Consider developing additional entities, which may be eligible for other economic development funding.
- Increase the amount of private sector funds used to support economic development in Prince George’s County.