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Prince George's County EDC Rescues Union Market Wholesalers

Center: EDC President & CEO Jim ColemanWashington, D.C., January 7,2016 - Today, the Prince George's County Economic Development Corporation Team held an urgent meeting with more than two dozen Union Market wholesalers that are eager to come to the promised land - Prince George's County. These companies were anxious to meet with EDC officials after 15 Union Market companies already expressed strong interest in moving to Prince George's County just last month. During the two hour meeting, EDC reps explained the cost savings of moving to Prince George's County, the ease of access to major highways, the low cost warehouse space and free business development matchmaking services the EDC provides to help them meet new customers.

"With the upcoming redevelopment of Union Market into high-end housing and office space, Prince George's County sees this as an outstanding opportunity to introduce the vibrancy of this historic market to our growing wholesale business community," said EDC President and CEO Jim Coleman. "We are delighted to be able to rescue these companies and deliver them into the land of modern low cost warehouse space, unlimited parking and ease of access to a vast highway system. This is a classic 'Win/Win' scenario. We can't wait to get them moved in."

When the Economic Development Team learned that several developers had purchased property surrounding the Union Market and had given notice to the wholesale tenants that their leases would not be renewed, the Team went to Union Market before the holidays to talk with its wholesalers about their relocation plans. The Team met with 18 companies, and after Mr. Coleman told them about his commitment to providing relocation support, lucrative workforce development and training support, access to financial incentives, and free business development matchmaking services, 15 of those companies expressed strong interest in moving to Prince George's County.

Gina Chen, the owner of Solid Gold, Inc. and the unofficial 'Mayor' of Union Market has already relocated her business to Prince George's County. She has been working with the EDC to encourage her colleagues to move as well.

"I like Prince George's County, because they have land and big buildings," said Chen. "A while ago we considered moving to Virginia, but its locations are too small. I am hoping that we will all be able to find a place where we can move everybody there and establish a new Union Market, which would help us a lot."

Additionally, the wholesalers met commercial real estate brokers from Cushman Wakefield, NAI Michael and private building owners who reviewed specific sites in Hyattsville and Lanham with ready to lease space and scheduled one-on-one tours with the business owners.

"The EDC is working with real estate brokers in the County to provide for all of the wholesalers at Union Market to relocate into Prince George's County," said EDC Business Development Director John Mason. "It is important for us to ensure that these companies can continue to have access to their customer base, as well as find new customers in a less congested atmosphere."

Companies interested in business relocation or expansion into Prince George's County should contact Pradeep Ganguly pganguly@co.pg.md.us or call 301-583-4650 today.