$1 Billion in Leveraged Private Investment Creates 44 Approved Projects; More than 12,000 new jobs
The Prince George’s County Council recently joined County Executive Rushern L. Baker, III, the Prince George’s Economic Development Corporation, FSC First, local officials, and EDI award recipients to celebrate $1 Billion in Private Investment in Prince George’s County resulting from the County’s Economic Development Incentive (EDI) Fund.
Since the implementation of the EDI Fund in 2012, the Council has approved all 44 projects submitted for consideration. These projects have received a total $36.5 million dollars in EDI funding, stimulating $1 billion in private investments, and creating more than 12,000 jobs.
Council Chair Dannielle Glaros (D) – District 3, says the EDI Fund changed the trajectory for job growth in Prince George’s County. “The Council is excited and proud for the positive impact of EDI on jobs and economic growth in the County. Without this invaluable resource in our community, the County’s fiscal outlook would not be as bright. Thanks to this economic tool and the partnership that makes it work, Prince George’s County can reach its potential, and celebrate the creation and retention of thousands of jobs for our residents.”
County Executive Baker thanked the partners who were willing to join him to put “skin in the game.” “I want to thank and congratulate the Prince George’s County Economic Development Corporation, FSC First, and the Prince George’s County Council for their hard work to make the EDI Fund a critical part of our County’s successful efforts to attract $10 billion in investment over the past seven years, leading the state in job growth for 5 quarters in a row.”
Council Member Derrick Leon Davis, (D) – District 6, and Chair of the Council’s Public Safety and Fiscal Management Committee, says this forward - thinking initiative championed by County Executive Baker, will make the County an economic driver in the region.
“We are excited about the prospects of Prince George’s County going forward. It was County Executive Baker’s bold vision during a recession to invest 50-million dollars into the recovery of our County, that brings us to the rooftop of this new building in New Carrollton, surrounded by a federal agency, a Metro station, and Kaiser Permanente is on the way. The EDI Fund was the beginning. It’s a new day, with new jobs and we’re moving into the future.”
The celebration was held on Thursday, June 7, 2018 on the rooftop of the Remy Building, a new residential community and transit-oriented development located near the New Carrollton Metro.