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EDC Works To Bring Film Studio To Prince George's County

County Executive Baker's China Mission seeks funding for $125 million Sound Stage Project

Largo, MD - Thanks to County Executive Rushern L. Baker, III, the Economic Development Corporation (EDC), and entrepreneur A.K. Adams, Prince George's County is one step closer to having its first full-service, state-of-the-art film and television studio that will create more than 1,400 jobs and raise the profile of the County as a creative arts and cultural center.  This $125 million mixed-use development project featuring creative industrial production, office and retail space is one of several targeted investment opportunities for which County Executive Baker is seeking to secure funding on his upcoming trade mission to China. 

EDC Pres. & CEO Jim Coleman (standing) preps China Mission delegates and staff. Pictured (l. to r.)David O'Ferrall, IATSE Local 487 Business Agent, Chuck Clay, Pres. IATSE, Local 22, Richard Powell, Jr., Pres. Benjamin Banneker Development Corp, A.K. Adams, Dir. of Potomac Entertainment Opportunities, LLC, and Howard Ways, Redevelopment Authority of Prince George's County. Rhonda Dallas, Exec. Dir of Prince George's Arts and Humanities Council (not pictured)Mr. Adams, Director of Potomac Entertainment Opportunities, LLC, a subsidiary of the Benjamin Banneker Development Corporation, along with other partners in this project, including Rhonda Dallas, Executive Director of the Prince George's Arts and Humanities Council, David O'Ferrall, Business Agent, IATSE Local 487, and Chuck Clay, President, IATSE, Local 22, met with the EDC international team yesterday to learn how the EDC would assist them in getting connected with the right foreign investors & partners for their project.  Mr. Adams and his colleagues heard the call of business investment potential at County Executive Baker's Pre-China Mission kickoff last month and came into the EDC office to discuss their expectations for the mission. 

The $36.4 Billion dollar global film and television industry has a high growth potential for Prince George's County. Currently, there are at least seven television productions with storylines centered on the District of Columbia, including the award-winning series "House of Cards" and "Veep", which have generated thousands of jobs and millions in economic impact., thanks to Maryland's successful Film Tax Incentive program.  Yet the region currently lacks the necessary infrastructure to support additional productions.  Mr. Adams and his colleagues look to capitalize on this demand with the assistance of the Economic Development Corporation., and a seasoned team of international experts in film studio design, development and marketing.

"This is how we roll in Prince George's County," said EDC President Jim Coleman.  "Having a well prepared delegation of serious business leaders and developers sends an important signal to the international community that Prince George's County is serious about development.  It also shows our business community that the County is willing to do whatever it takes to ensure that your projects are successful and able to generate tax revenue to sustain and improve Prince George's County."  

Partnering with China provides the potential for an enormous boost in distribution and employment for this Prince George's County-based company, because of the scales of economy in China. With over 1 billion in population, in 2014, the China Box Office generated $4.8 billion in sales, and is one the fastest growing markets for film & television content. 

"We have been impressed by how the Economic Development Corporation has been 'hands-on' in cultivating the success of this project and preparing us for all aspects of this mission," said A.K. Adams. "We are excited to learn about the market opportunities and partnerships we will be exposed to on this mission. This preparation will be critical to the success of our project. Our goal is to create an exciting haven for the creative economy to thrive at National Studios and share unique stories out of this studio that provide a significant cultural impact."

If you are interested in doing business internationally, contact Elizabeth Crittenden (eacrittenden@co.pg.md.us) or 301-583-4650 and plan to attend County Executive Baker's Global Business Reception on August 26, 2015 at National Harbor.  For ticket information, please visit www.pgcedc.com