Prince George’s Looks to Boost Economy

Prince George's County Executive Rushern L. Baker III (right) poses with Theresa Nam, president of KL USA of College Park, during Baker's State of the Economy address at the Colony South Hotel and Conference Center in Clinton on May 3. Nam established a small business in October that manufactures capacitors in College Park. (Mike Yourishin/County Executive's Office)
Prince George's County Executive Rushern L. Baker III (right) poses with Theresa Nam, president of KL USA of College Park, during Baker's State of the Economy address at the Colony South Hotel and Conference Center in Clinton on May 3. Nam established a small business in October that manufactures capacitors in College Park. (Mike Yourishin/County Executive's Office)

Prince George’s County has invested $12 billion in economic development and has the most affordable housing in the D.C. region with a median household sales price at $265,000, but officials continue to seek more.

Projects that still await approval such as relocating the FBI headquarters to either Greenbelt or Landover, and building the Purple Line light-rail system would produce thousands of jobs and millions of dollars in sales and property taxes.

The county’s Economic Development Corp. will help lead the effort to fill 25,000 jobs in industries such as information technology, construction, manufacturing and health care.

“We are rocking here in Prince George’s County,” said EDC President and CEO Jim Coleman. “We want to make sure our residents are hitting $50,000 or more. If we can do that, that’s going to help us to continue to drive this great economy.”

The quasi-governmental agency has several ways such as helping returning citizens go through the expungement process to help remove certain offense off their records. Then, work on resumes to find suitable job training programs and enter the workforce.

At least 516 have received assistance through the EDC’s one-stop career center.

Small-business entrepreneurs who have established a business between a year and three years can apply for the EDC’s Accelerator program, which provide benefits that include a furnished office space for $300 per month, free parking and assistance with business certifications.

The program housed at the agency’s office at 1801 McCormick Dr. in Largo helps those in need of a boost to improve their business portfolio.

According to the guidelines, applicants must provide a business plan outlining a strategy for growth and the ability to pay the program fee. The main goal: get a startup business going within six months.

Meanwhile, the EDC and the county’s Business Roundtable hosted the county executive’s annual State of the Economy address last week in Clinton, where about 500 business leaders, state, county and municipal officials heard County Executive Rushern L. Baker III tout how the jurisdiction has produced 15,000 jobs since 2013.

When MGM National Harbor casino resort opened in December, it created more than 3,600 jobs.

One small business with about 20 employees plans to relocate a capacitor factory and bring an additional four employees from South Korea to the county.

“Prince George’s County is a great place,” said Theresa Nam, president of KL USA, which opened the manufacturing business in College Park in October. “We like it here.”

For more information on EDC programs and events, go to www.pgcedc.com, or call 301-583-4650.

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About William J. Ford – Washington Informer Staff Writer 271 Articles
I decided I wanted to become a better writer while attending Bowie State University and figured that writing for the school newspaper would help. I’m not sure how much it helped, but I enjoyed it so much I decided to keep on doing it, which I still thoroughly enjoy 20 years later. If I weren’t a journalist, I would coach youth basketball. Actually, I still play basketball, or at least try to play, once a week. My kryptonite is peanut butter. What makes me happy – seeing my son and two godchildren grow up. On the other hand, a bad call made by an official during a football or basketball game makes me throw up my hands and scream. Favorite foods include pancakes and scrambled eggs which I could eat 24-7. The strangest thing that’s ever happened to me, or more accurately the most painful, was when I was hit by a car on Lancaster Avenue in Philadelphia. If I had the power or money to change the world, I’d make sure everyone had three meals a day. And while I don’t have a motto or favorite quote, I continue to laugh which keeps me from driving myself crazy. You can reach me several ways: Twitter @jabariwill, Instagram will_iam.ford2281 or e-mail, wford@washingtoninformer.com
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