The EDI Fund is intended to elevate the county's economic development profile and signal to the development community that Prince George's has turned a significant corner. The EDI Fund's potential return on investment will not be measured solely by financial returns to the fund itself – rather, it will be measured primarily by tangible measures like job creation, increased commercial tax revenue, and the achievement of key development goals. Under CB-4, special priority will be given to projects that maximize Local Minority Business Enterprise (LMBE) participation and hiring opportunities for County residents.
The EDI Fund was originally submitted as part of the FY2012 Proposed Budget presented to the Prince George's County Council.
Administrative details of the EDI Fund and will be finalized over the next couple of months. Applications will be accepted and implementation will begin in the first quarter of the 2012 calendar year. For more information on the EDI Fund, please go to http://www.pgcedc.com/busDevelopment/EDIF.php .