Largo, MD -Yesterday, the Prince George's County Economic Development Corporation (EDC) kicked off 2018 with a bang at its "More Jobs for Marylanders: Innovative Manufacturing (IM) Forum". This program, which drew over 100 manufacturing professionals, provided top executives from the local manufacturing community with access to millions of dollars in capital for business expansion, access to human capital and access to operating cost reductions through a plethora of new programs. A group of eight panelists shared their expertise on accelerated depreciation, lucrative tax credits, incentives and rebates. The executives were also privileged to hear from U.S. Congressman Steny Hoyer who talked about why his "Make It in America" initiative is vital to keeping America's workforce making something that has an economic value. EDC President and CEO Jim Coleman was ecstatic to begin the new year by providing economic opportunity for the business community.
"I couldn't think of a better way to start the new year than to thank our manufacturers for making such a big difference in Prince George's County," said Coleman. "Prince George's County manufacturers are the key drivers in this incredible economy that we are experiencing today. Over the last 12 months, more than 11,000 new jobs were created thanks to private sector manufacturers putting everything on the line, taking risks, and empowering our residents to change their lives in a positive way. The EDC is delighted to be able to provide them with innovative ways to gain access to financing capital, a skilled innovative manufacturing workforce, and new programs that can reduce their energy costs. Starting our manufacturing community's year off with business opportunities is what we're all about here at the EDC."
The EDC launched its first Innovative Manufacturing Roundtable last July, as EDC Business Development Director John Mason leveraged his relationships to begin a powerful discussion with industry, government agencies and the education community about the opportunities and challenges in the manufacturing arena. One of the primary concerns local manufacturers expressed at the Roundtable, was the need for both creative financing options as well as access to the wide talent pool with the County. In response to those concerns, the EDC brought together State and regional manufacturing leaders, including power broker Congressman Steny Hoyer, to talk about where manufacturing is going in the future and what workforce partnerships and solutions are necessary to connect the companies to the innovative resources for innovative manufacturing.
"The extraordinary surge of traditional manufacturing over the last century created the success of the middle-class in America, however, as wages have stagnated over the last few decades, the opportunities that success brought is slipping away," said Hoyer. "Revitalizing manufacturing in this country is not just about creating jobs, it's about launching careers that last a life-time and bring opportunities that can sustain workers in the middle class. The core of "Make it in America" is about turning economic challenges into opportunities for our businesses and our workers. Today is our opportunity to hear from you about what government and the private sector needs to do to make manufacturing more successful. Thank you for helping people 'Make It' in America."
Following Hoyer's keynote address, there were two panel discussions. The first panel, focusing on access to human capital, featured representatives from the Eaton Company, the EDC and Prince George's Community College. Leah Kunzelman and Craig Skelly spoke about the numerous high-wage job opportunities available at Eaton, as well as the type of workforce that they are consistently developing. Jeff Swilley, Deputy Director of Workforce Services at the EDC, spoke about how companies like Eaton can search for and hire quality talent, as well as participate in the 'Hire Prince George's' program, which partially reimburses qualified businesses for hiring and training eligible Prince George's County residents. Further, Dr. Yvette Snowden, Associate Vice President at the Prince George's Community College (PGCC), discussed the steps that the Community College has taken to ensure that a talented workforce is being prepared. She also discussed how the innovative manufacturing sector can partner with PGCC to develop training programs specific to industry needs.
The second panel featured representatives from the Maryland Department of Commerce, the Regional Manufacturing Institute, the Maryland Manufacturing Extension Partnership and Baltimore, Gas & Electric who discussed innovative ways by which companies operating in Prince George's County can gain access to capital as well as reduce their costs. The highlight of this panel the Department of Commerce's 'More Jobs for Marylanders' incentive program. Participating manufacturing businesses who create multiple jobs can receive several tax credits that last up to 10 years. The tax credits include real property tax exemptions, waiver of State fees, and tax refunds for certain purchases.
"I'm very thankful to the Prince George's County Economic Development Corporation for including the Department of Commerce in the Forum today," said Kristen Shock, Senior Director, Strategic Industries and Entrepreneurship with the Maryland Department of Commerce. "We often partner with the Regional Manufacturing Institute and the Maryland Manufacturing Extension Partnership to serve manufacturers throughout the State. Now that the 'More Jobs for Marylanders' Act has been operationalized to encourage our businesses to create jobs in the areas that need it most."
The Manufacturing Forum was graciously sponsored by the Prince George's County Department of Public Works and Transportation and JGL Law.
Manufacturing companies that are interested in learning more about the 'More Jobs for Marylanders' Act, and other State and local incentives to prepare a skilled innovative manufacturing workforce, gain access to financing capital, reduce their company's energy and operating costs, and funding to reduce energy costs to are encouraged to contact John Mason, EDC Business Development Director (jamason@co.pg.md.us) or 301-583-4650.
Congressman Steny Hoyer Inspires Manufacturing Exec's With Outlook On "Make It In America" Initiative