Prince George's County Economic Development Corporation Releases 2024 Achievement Report on Economic Development Strategic Action Plan
Report Highlights Transformative Impact on County's Growth and Workforce
LARGO, MD - The Prince George's County Economic Development Corporation (PGCEDC) proudly announces the release of its highly anticipated 2024 Achievement Report on the Economic Development Strategic Action Plan. This report provides an in-depth assessment of the County's strides in job creation, innovation support, and community investment as part of the 2022 Strategic Action Plan. The updated plan, structured around three core priorities—Growth Opportunities, Human Capital, and Strong Places—reflects Prince George's County's commitment to sustainable and inclusive economic development.
The updated 2022 Strategic Action Plan, developed through a two-year collaborative effort with PGCEDC, Employ Prince George's, and Maryland-National Capital Parks and Planning Commission (M-NCPPC) builds on the County's success in promoting economic and employment development.
"Our 2024 Achievement Report is a testament to the power of public-private partnerships and strategic vision," said David Iannucci, President & CEO of PGCEDC, emphasizing the importance of continued collaboration and funding to maintain this positive trajectory. "The progress outlined here reflects not only our collective commitment to economic resilience but also our unwavering dedication to inclusive growth. We look forward to working with our partners to build on this success, ensuring that Prince George's County remains a model for sustainable economic development."
Through strategic partnerships and targeted programs, Prince George's County has successfully bolstered its local economy, supported its residents, and created new pathways for business growth. The Achievement Report documents this progress with measurable data and success stories, reinforcing the County's role as a leader in regional economic innovation.
Innovation Collaborative of Prince George's County: PGCEDC has developed an entrepreneurial ecosystem involving key institutions such as TEDCO, the University of Maryland, and Bowie State University. This has resulted in over 200 new business partnerships and mentoring for over 50 BIPOC and women-owned startups.
Innovation Station Business Incubator (ISBI): Serving as a one-stop resource center, ISBI has provided critical support, including mentorship and pre-accelerator programs, to over 80 businesses. Sixty percent of participants come from underserved communities. ISBI's focus on BIPOC and women entrepreneurs has expanded opportunities for scalable business growth.
Federal Presence: PGCEDC's efforts to attract and retain federal agencies have proven successful, including the landmark relocation of the Federal Bureau of Investigation headquarters to Prince George's County. Additionally, federal clusters are being further strengthened with collaborative initiatives supporting NASA's Goddard Space Flight Center and related contractors, positioning the County as a central hub for federal research and innovation.
Healthcare and Research: Continued investments in local healthcare infrastructure, including new facilities in Largo and Oxon Hill, have provided both healthcare access and employment opportunities, while the collaboration with the University of Maryland's Discovery District is fueling advancements in research-intensive industries.
Grow Prince George's Program: Funded initially by the American Rescue Plan Act, this economic gardening initiative has provided 1,700 minority and women-owned businesses with vital resources. From market research to digital optimization, the program has enabled these businesses to thrive in the post-pandemic economy. PGCEDC continues to prioritize diverse entrepreneurship as a core component of the County's growth strategy.
Youth Career Connections (YCC): As part of Employ Prince George's workforce programs, YCC connects K-12 students with industry pathways and career mentors, setting a solid foundation for the County's future workforce. With 50 dedicated career coaches, YCC has helped 4,000 students access career counseling and has placed 1,200 internship opportunities in high-growth industries.
STEM Partnerships: Partnering with local schools and higher education institutions, PGCEDC has launched STEM-focused programs, reaching over 5,000 students and preparing them for roles in technology, healthcare, and research fields essential to the County's economic future.
Placemaking Initiatives: In collaboration with the Maryland-National Capital Park and Planning Commission, PGCEDC has rolled out placemaking projects in Suitland, Riverdale Park, and Largo, creating inviting, business-friendly spaces that have improved the local quality of life and strengthened communities. These initiatives have contributed to a 20% increase in local foot traffic and business engagement.
Business Improvement Districts (BIDs): PGCEDC's focus on transit-oriented development has led to the creation of BIDs in key areas, improving infrastructure, accessibility, and livability for businesses and residents alike.
The 2024 Achievement Report emphasizes the need for ongoing investments, particularly in innovation ecosystems and workforce training, to ensure continued growth. PGCEDC plans to expand its Grow Prince George's program and enhance Youth Career Connections to bridge talent directly to in-demand job sectors.
To access the full report and learn more about the achievements and strategic vision for Prince George's County, please download the full 2024 Achievement Report HERE.
About Prince George’s County Economic Development Corporation
PGCEDC’s mission is to cultivate and promote a strong local economy that supports the growth and prosperity of entrepreneurs and businesses, dedicated to strengthening communities through business development and job creation. For more information about Prince George’s County Economic Development Corporation’s services to local companies, visit www.pgcedc.com.
Media Contact:
Rhett Butler
Marketing & Communications Manager, PGCEDC
240-427-7926