Economic Development Corporation
1801 McCormick Drive, Suite 350
Largo, MD 20774
Funding Level and Source
A $50 million – one time appropriation has been approved to support multiple fiscal year appropriations to the EDI fund at $7-11 million level per year.
Expansion of the County’s commercial tax base, job retention and attraction, support for small and local businesses, promotion of development and redevelopment opportunities, transit oriented development and growth of key industry sectors.
Land and building acquisitions, building construction and improvement, equipment acquisition, working capital.
Measurable outcomes such as job creation and retention, broadening of the commercial tax base, increasing industry and commerce, job growth, promoting local, minority and small business development.
Alignment with County Development Goals and Priorities
Project adequately reflects the articulated goals for revitalization and is located in or adjacent to the developed tier and key strategic areas.
“But For” Test
Demonstration that the project would not move forward without offering of public incentives from the County.
Ability to leverage private funds, federal and state financial support, and incentive programs for strategic economic development opportunities for the State and County.
County Chief Administrative Officer – Inter-agency coordination of various economic development agencies
Office of Finance and Office of Management and Budget
Financial management and analysis, record keeping, collections, reporting and disbursement of fund, and analysis for compliance with terms and conditions of loan or grant agreements and goals.
All applications are reviewed for consistency with statutory goals and purposes of the program, with independent review of credit and financial soundness of the borrower, and projections. Application forms are on our website and at the Prince George’s County Economic Development Corporation. The review process is approximately 90 days. A check list of documents and materials may be found on this website under Apply Now!