Prince George’s County, Maryland, Celebrates Decade of Economic Growth with 55,000 New Jobs Added

Prince George’s County, Maryland, Celebrates Decade of Economic Growth with 55,000 New Jobs Added

The county added more jobs than any other county in the state between 2011 - 2021

Largo, MD Prince George's County proudly announces a significant economic growth and development milestone. Over the past ten years, from 2011 to 2021, the County has successfully added 55,000 new jobs, marking a considerable achievement in its commitment to economic prosperity and community development according to the U.S. Bureau of Economic Analysis (BEA) data.

This remarkable job growth is a testament to the County's robust economic policies, strategic initiatives, and a conducive business environment that have collectively fostered job creation and attracted diverse industries to the region.

"This achievement reflects our dedicated efforts to create a thriving economy in Prince George's County," said David Iannucci, President & CEO of Prince George's County Economic Development Corporation. "We have worked tirelessly to attract businesses, support local entrepreneurship, and create a skilled workforce that meets the evolving demands of the job market."

This period of growth has seen a diverse range of industries flourish in the County, including technology, healthcare, education, and service sectors, contributing to a dynamic and resilient local economy.

That vertical economic trajectory will only expand with the recent announcement of the Federal Bureau of Investigations headquarters coming to Greenbelt, MD. This decision will bring generational transformation and investment for Prince George's County and the State of Maryland because large federal job centers have driven job and income growth in the region. When the Federal Government decided in 1941 to locate the Pentagon on the west bank of the Potomac, that decision created decades of additional investment in Virginia.

As we look to the future, Prince George's County remains committed to continuing this trajectory of growth and prosperity, ensuring a sustainable and inclusive economy for all its residents.

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Media Contacts:

Rhett Butler

Marketing & Communications Manager, PGCEDC

240-427-7926

rbutler@co.pg.md.us

https://pgcedc.com

PRINCE GEORGE'S COUNTY ECONOMIC DEVELOPMENT CORPORATION CELEBRATES 5TH YEAR ANNIVERSARY OF ITS PREMIERE BUSINESS INCUBATOR

Innovation Station Business Incubator is the Agent of Change for Many Innovative Entrepreneurs and Small Businesses

Prince George's County Economic Development Corporation is celebrating the 5th anniversary of Innovation Station Business Incubator (ISBI), the County's elite business accelerator agent and entrepreneurial ecosystem hub. This dynamic business resource has a host of successful company graduates and members that continue to operate in our community and in the global marketplace.

The celebration is on Tuesday, February 28th, 2023, five years from its founding.

"Five years ago, we invited our ecosystem partners and community members to join us for the grand opening of this new collaborative co-working space," said David Iannucci, President and CEO of Prince George's County Economic Development Corporation. "We got off to a powerful start with two of our early co-working member companies winning the Start-Up Maryland Competition in 2018 and 2019. They, along with others, now have product sales online, internationally, and in big box retailers and so much more. It takes a village to grow a company and we have a mighty powerful village."

Innovation Station Business Incubator is directly connected to the Prince George's County Economic Development Corporation and its mission of growing the County's tax base and economy by supporting job creation, business attraction, business expansion, and retention efforts. By supporting tech and creative entrepreneurs and innovators as they commercialize their product and service offerings, ISBI is fostering sustainable growth-focused technology-enabled businesses in our community.

To Date, ISBI has Facilitated:

• Special Minority Business Development Agency programs, one-on-one meetings and information sessions to our minority-owned business members.

• Grant-funded CEO Meetup Series fostering peer-to-peer learning.

• SBDC CEO Accelerator Program

• SBIR proposal training, ICorp Programs, and Maryland Business Innovation Association funding

"Innovation Station was a vital partner that helped support the early growth and success of Wave Welcome by providing my team and me affordable access to centralized space, resources, and opportunities that were critical and otherwise inaccessible during the height of the COVID-19 pandemic," said Vennard Wright, President/CEO, WAVE Welcome, a former ISBI graduate.

ISBI tenants are connected to the extensive PGCEDC services and receive access to collaborate with other business incubators and entrepreneurial resources in the County, state, nation, and world.

"Innovation Station has been an excellent resource for information on educational programs, funding opportunities, and business coaching including access to the MD PTAC and SCORE," said Katoshia Ford, President/CEO of FORD Management Services. "They have shared information about opportunities in Prince George's County and throughout the Washington Metropolitan region."

Powered by Prince George's County Economic Development Corporation, Innovation Station Business Incubator is another reason Expansion Starts Here in Prince George's County.

For more information about ISBI, please visit www.pgcedc.com/innovation-station