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COUNCIL INTRODUCES LEGISLATION SUPPORTING DEVELOPMENT AND SUSTAINABILITY OF BUSINESSES OWNED BY PRINCE GEORGE'S COUNTY RESIDENTS


For Immediate Release: 10/23/2013 2:00 PM

Contact: Angela Rouson 301-952-7484 CouncilMedia@co.pg.md.us

Council Member Mel Franklin Says CB-78 Gives Needed Support to Locally-Owned and Operated Businesses
 
The Prince George’s County Council, during session on Tuesday, October 22, 2013, introduced Council Bill 78-2013, legislation authorizing use of the Economic Development Incentive (EDI) Fund for expansion of small business development and local business ownership opportunities.
 
Under CB-78-2013, which received unanimous approval during a Public Safety and Fiscal  Management (PSFM) Committee Meeting on October 17, a goal of 10-percent of the annual appropriation of the EDI Fund would be established for financial assistance to expand entrepreneurship opportunities for County residents who own businesses based in the County. 
 
Council Member Mel Franklin (D) – District 9, a proposer of the legislation, says small and local businesses owned by county residents drive the local economy and providing them with the support they need to grow and thrive is critical to their success.
 
“This new component of the Economic Development Incentive Fund is designed to create and grow locally-owned and operated businesses in the County and unleash the entrepreneurial spirit of our County residents.  This legislation promotes innovation, and creates jobs and wealth for our communities as we work to grow our County's economy."
 
The proposed legislation aims to increase the County’s commercial tax base, create jobs for County residents, and provide flexible financing for small business start-up and expansion in Prince George’s County.
 
Council Bill 78-2013 is scheduled for a public hearing on Tuesday, November 19, 2013.  To speak before the Council, contact the Clerk to the County Council at 301.952.3600.
 
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All legislative powers of Prince George’s County are vested in the County Council.  The County Council sits as the District Council on zoning and land use policy, and as the Board of Health to govern and guide health policy.  The County Council meets as a legislative body on Tuesdays in the Council Hearing Room on the first floor of the County Administration Building in Upper Marlboro.  For more information on the Prince George’s County Council, please visit www.princegeorgescountymd.gov.