Prince George’s County Economic Development Corporation Continues Creating Pathways To Business Success For Minority and Women Owned Businesses Proving Expansion Starts Here

From Pre-to-Post-Pandemic the Continued Outreach Has Helped County Based Businesses “Emerge Stronger” To Take the Next "Step Forward"

While the economic recovery from COVID was uncertain for many, the Prince George's County Economic Development Corporation was inspired and busy assisting the rebound of small minority and women-owned businesses. Through a multitude of programs, initiatives, and cohorts, close to 800 entrepreneurs that call Prince George's County their business home found support through various initiatives enacted by the EDC including Pathways to Growth & Expansion The C-Suite Accelerator, Emerge Stronger, and the Step Forward Initiative.

Each program contributed to turning the tide for business owners solidifying the EDC's promise that Expansion Starts Here in Prince George’s County.

"The team at PGCEDC focused not just on COVID relief and recovery efforts, but also worked hard to capture heightened entrepreneurial efforts, including fostering new business startups and expanding businesses in the County," said David Iannucci, President & CEO of PGCEDC. "Providing small businesses - the backbone of the American economy – with insights, resources and tools to help them avoid costly mistakes and pitfalls that could impede their growth potential -is one of many ways we assist our business community. Our business development team members are consistently assisting CEOs, developers, and brokers to find, finance and build job creating businesses here in the County."

The Pathways to Business Growth and Expansion program garnered more than 275 businesses participants. This program offered a series of English and Spanish language programming covering site selection, mergers and acquisitions, financing expansion, sales, communications tools, lease agreement negotiation, and more.

PGCEDC also launched The C-Suite Accelerator program, which assisted more than 80 businesses over a five-month period through a series of multi-session groups and individual business coaching programs. The C-Suite Accelerator program also included intensive C-Suite mentorship sessions for business owners.

"The Prince George's County Economic Development Corporation has been so supportive to my business," said Robin Hamilton from The ARound Robin Production Company. “Being a small business owner can be challenging, lonely, and confusing. Having these resources gave me direction and helped me address blind spots in terms of how I was running my company – and what I could be doing better."

The Webinar Wednesday series was launched in April of 2022, where more than 70 companies attended virtual sessions, conducted in both English and Spanish, providing small business owners with financing information from lending partner FSC First.  PGCEDC resource partners highlighted procurement opportunities from the Prince George's Community College, the Prince George's Library System, and State agencies. Webinars also covered employment strategies and specific workforce information, marketing for growth, and MBE certification process information in collaboration with the Maryland Department of Commerce, Maryland Department of Labor, and the Maryland Small Business Development Center.

In July, PGCEDC graduated its inaugural Step Forward Initiative cohort consisting of ten minority women entrepreneurs that completed a program sponsored by Wells Fargo, preparing them for the vibrant Prince George's County economic landscape.

This intensive six-month program featured workshops and aligned the women-owned business cohort with EDC Financial Services and Small Business Services Managers for financial literacy mentoring and business operations coaching. Guest speakers covered a number of topics to prepare business owners to identify loan package deficiencies/shortfalls, prepare a completed loan application package ready to submit for funding and have loan applications pre-viewed and prequalified by lenders.

"Designed to serve the needs and challenges of established businesses in their quest to obtain access to capital, the Step Forward Initiative quickly grew to be so much more,” said Ebony Stocks, Executive Vice President of the Prince George's County Economic Development Corporation. “We've encouraged all of our cohort participants and the broader business community to take advantage of our other programs at the EDC. This is just the beginning."

The effect of the programming on Prince George’s County based businesses has been transformative and substantial.

"When I started my business, Savvy Scents, it was the height of COVID-19, and my mortgage-paying job had me traveling a lot internationally; I didn't realize how much of my time was being taken," said Savvy Scents owner, Sherrie Brown. "My sister and I started a business on the side and applying the things I learned from the cohort, I met with a credit union and recently signed contracts to have my products in stores. This really did help me."

For more information about the programs, initiatives and other small business services, the Prince George's County Economic Development Corporation offers, visit www.pgcedc.com.

Prince George's County Welcomes State-Of-The-Art Target Distribution Campus

Target Corporation purchased the previous Safeway Distribution Center on Leeland Road and Crain Highway (Route 301) in Upper Marlboro for their Target Distribution Campus. This distribution campus will supply goods to 9 regional distribution centers and 700 Target stores. In addition, the distribution campus will create over 800 new jobs in the state-of-the-art facility, including 50 new leadership positions in the campus office. 

The Economic Development has worked directly with the Target development team and County Permitting offices to manage this monumental project with efficiency and solution-based dialogue to achieve an on-time opening. Advancing this project through the hundreds of required permits, inspections and requirements was a true exercise in project management and strategic planning. The successful delivery of an on-time project was a testament to the leadership at DPIE, MNCPPC and the EDC with the Target Team, and is now a standard to be duplicated across other major projects. 

Target is investing over $340 Million to expand the distribution footprint of both buildings currently on site in two phases. In phase one, the perishable building underwent a 108,000 square feet expansion with a capital expenditure of over $220 Million and with 450 new jobs created at full staffing with starting wages of $22 -$26/ hour with full benefits after 90 days.  This also includes 50 leadership positions with salaries of $80K-$90K+ with immediate full benefits. This state-of-the-art facility will be the most technologically advanced, automated distribution center in the Target portfolio. Phase two of this project is underway with a $120 Million expansion of the non-perishable building that will create another 400 jobs, with a target opening of October 2023. 

Prince George's County Economic Development Corporation made its mark at ICSC Mid-Atlantic 2022

Prince George's County Economic Development Corporation made its mark this month at the ICSC Mid-Atlantic Conference 2022. Held in the Prince George's Exhibit Hall of the Gaylord National Resort and Convention Center on September 14th and 15th, a corp of Team EDC's business development and marketing staff continued to show the world why Expansion Starts Here in Prince George's County.

The EDC had fifty meetings, including close to forty walk-ups and eleven appointments with developers, hotel groups, and franchise opportunities, that started the groundwork for understanding the needs and processes for franchising. 

The Innovating Commerce Serving Communities Conference creates connections and catalyzes deals with the innovators, dealmakers, and changemakers driving the marketplaces industry forward in the region. The EDC attended the conference to advance the goals for Prince George's County businesses and experience the latest trends shaping the spaces where Prince Georgians shop, dine, work, play, and gather.

Prince George's County Economic Development Corporation mourns the passing of David Harrington

The Prince George's County Economic Development Corporation is saddened to hear of the passing of David Harrington; indeed, it is a sad day for Prince George's County. Today, we recognize and salute this giant of a person who was a coalition-builder, a visionary and an advocate for Prince George’s County, its business community and its residents.  

Not only did Harrington revitalize the way the County does business as president of the Prince George's County Chamber of Commerce, he and was also a longtime advocate for healthy communities, introducing the Wellness Opportunity Zone in Prince George’s County. 

“David Harrington was a relentless advocate for the business community of Prince George’s County,” said David Iannucci, President and CEO of Prince George’s County Economic Development Corporation. “He will be greatly missed for his passion, his commitment and his focus on making Prince George’s County the premier location for business growth. One word that I heard from many colleagues who were startled and saddened by his passing was that he had been a mentor for almost a generation of young Prince George’s County entrepreneurs and business leaders.” 

A staunch advocate for the businesses of Prince George's County, Harrington was a beacon of light for all County business owners and a champion of Black businesses to get in the game and thrive. The Prince George’s County Economic Development Corporation extends its deepest sympathies to the family of David Harrington and celebrates a life well lived.  

Federal Agency Expands into Prince George’s County

Federal Agency Expands into Prince George’s County

U.S. Currency Production Facility Makes its Mark in Beltsville

Today, the U.S. Treasury’s Bureau of Engraving and Printing (BEP) announced the official transfer of a 104-acre parcel of the Beltsville Agricultural Research Center from the Department of Agriculture to the Department of the Treasury. This expansion marks the initial phase of the BEP’s Replacement Currency Production Facility’s move from Washington, DC to Beltsville, Maryland.

“This is a major step forward in a critical component of our economic development strategy to have a more equitable distribution of federal jobs across our region,” said Prince George’s County Executive Angela Alsobrooks. “Federal agencies not only bring jobs to a jurisdiction, but the influx of new jobs and workers spurs new development in the area. We are excited about the new opportunities that this will unlock for residents in Beltsville and surrounding communities.”

The Bureau of Engraving & Printing has selected an unused 104-acre parcel of land at the 6,500-acre Beltsville Agricultural Research Center (BARC) as its preferred location for the $1.4 billion Replacement Currency Production Facility that includes up to $400M of new equipment. (This does not include the agency’s administrative functions, which will remain at its Washington DC facility.) The new 1 million square foot one-story facility is projected to employ a workforce of 1,450 employees working three-shifts with an average annual salary of approximately $99,000. Of the current BEP production workforce at the District of Columbia facility, 68% reside in Maryland and 31% in Prince George’s County.

“Bringing the Replacement Currency Production Facility to Prince George’s County brings us one step further in achieving our goal of ‘federal parity’ as it relates to federal jobs in the County,” said David Iannucci, President & CEO of the Prince George’s County Economic Development Corporation. “The Bureau of Engraving and Printing will join the 16 other federal agencies located in the County, including the recently opened U.S. Citizenship and Immigration Services Headquarters in Camp Springs.”

This project also provides an opportunity to infuse federal dollars to improve the aging infrastructure and historic buildings on the BARC campus, as well as improve the traffic flow in Beltsville.

Moving forward, the BEP will begin the demolition of current buildings on the site by early 2023 and complete design of a LEED Silver Facility by end of 2023. Construction of the new facility is scheduled to begin by early 2024 and the first production line will move into the new facility by 2027.

This move further confirms that Prince George’s County is the place for innovative businesses looking to tap into quality resources in the metro region. The Prince George’s County Economic Development Corporation anticipates that more agencies and businesses will follow the lead of BEP and are here to aid in making that happen..

To learn more about the Bureau, visit www.bep.gov. For more information about the services the Economic Development Corporation provides to local companies, visit www.pgcedc.com.

The mission of the Prince George’s County Economic Development Corporation (PGCEDC) is to cultivate and promote a strong local economy that supports the growth and prosperity of entrepreneurs and businesses, dedicated to strengthening communities through business development and job creation.

###

Women Entrepreneurs Get Plugged into the Financial Game

Women Entrepreneurs Get Plugged into the Financial Game

PGCEDC Launches Step Forward Program to Increase Capital Reach for Minority Women Business Owners
in Prince George’s County

Women-owned businesses now have a program focused specifically on getting them in the best business shape to pursue business capital. The Prince George’s County Economic Development Corporation (PGCEDC) just launched its Step Forward program for women-owned business this week. Step Forward is designed to assist women-owned businesses in getting the right connections in order to accelerate business growth.

Alicia Moran, Manager of Small Business Services at PGCEDC, says that the Step Forward program “will provide programming, counseling, and peer-to-peer learning opportunities, as well as enhance financial literacy and loan readiness to minority led small businesses. This program is different in that it is specifically designed to help female led county-located companies move forward with enhanced financial management skills. A program like this can incredibly impact small business growth in one of the fastest growing groups of entrepreneurs – women of color.”

A few of the expected program outcomes for Step Forward participants include their ability to identify loan package deficiencies/shortfalls, have a completed loan application package ready to submit for funding and have their loan application pre-viewed/prequalified by lenders.

Funded by a grant from Wells Fargo, Step Forward is a cohort of ten (10) women-owned businesses based in Prince George’s County that are competitively selected on annual basis to join the program. Participants will meet one-on-one with a business and/or banking counselor to work directly on their specific needs as well as strengthen and/or mitigate shortfalls in their loan packages. Once a month, the Step Forward cohort will come together to participate in intense training sessions with industry experts to navigate the financing process from start to finish. A few of the expected program outcomes for Step Forward participants are that they will be able to identify loan package deficiencies/shortfalls, have a completed loan application package ready to submit for funding and have their loan application pre-viewed/prequalified by lenders.

The first session held this week covered proper business structure. Attorney Midgett S. Parker, Esq. led an engaging session on choosing the proper business structure, building a team of experts to support it and the many ways to source business capital. Participants were excited to have an industry expert guide them through the process of making sure that their businesses were structured in the most successful way.

To get to know our 2022 Step Forward cohort, track their progress through the program and celebrate their successes connect with the PGCEDC at www.pgcedc.com/stepforward or follow us @pgcedc on Facebook/Instagram and @ExpandPGC on Twitter. For more on the overall business resources of the PGCEDC visit https://www.pgcedc.com/business-resources.

ECONOMIC DEVELOPMENT CORPORATION DISTRIBUTES MORE THAN HALF A MILLION DOLLARS TO LOCAL PERSONAL SERVICE BUSINESSES

As the business community continues to feel the impact of COVID-19 on the global economy, today the Prince George’s County Economic Development Corporation (EDC) announced the results of its Personal Services E-Business Grant. The E-Business Grant, which drew more than 250 applications, was focused on assisting local small business community by providing funding for technical support of their businesses. Generously funded by a grant from the Maryland Department of Commerce’s Maryland Economic Development Assistance Authority and Fund, 147 Prince George’s County personal services business owners’ applications were approved, providing more than $660,000 in grant assistance.

“This personal services business grant will help bridge the gap between County businesses and potential customers. Having a robust website with online sales capabilities and the ability to interact with your customer base is key to being competitive in this tough economy,” said Ebony Stocks, Executive Vice President of the Prince George’s County Economic Development Corporation. “The EDC is happy to support Prince George’s County businesses and the personal services industry in particular because as they extend their reach, it also means that they are expanding their growth.”

The Personal Services E-Business Grant program provided grants of $5,000 to Prince George’s County-based personal services businesses to support increased foot traffic to brick-and-mortar establishments, improvements to point of sale technology, and cross-channel functionality. The grant could also be utilized to establish or expand online sales capabilities, obtain real-time insights into customers, for scheduling, and for inventory management.  In total, 147 companies received grants of either $2,500 or $5,000 to support their e-business operations.

Over the last 12 months, the EDC has distributed more than $40M in grants to County businesses, supporting job creation and sustainability for thousands of employers. For more information about technical assistance programs, grants or the many other services provided by the Prince George’s County Economic Development Corporation, please visit www.pgcedc.com.