Praising the county team for their cooperation and the potential of the EDIF, Roundtable President & CEO M.H. Jim Estepp said this:
“So many small and large businesses today are looking for the kind of incentives that this comprehensive fund will provide to impact their decision to move their businesses to our county or expand their existing operations; all of which will create jobs, add to our tax base and keep county commuters here, not leaving in droves everyday for other parts of the region.
I’m really excited by the creation of this fund. I feel as if the county is a company which is moving from an over-the-counter stock on the NASDAQ, to Blue Chip status on the big boards of the NYSE.”
The two EDIF photographs on the front page are courtesy of Prince George’s County
THE PRINCE GEORGE’S COUNTY GOVERNMENT
OFFICE OF THE COUNTY EXECUTIVE
For Immediate Release: November 18, 2011
Contact: Scott L. Peterson, Deputy Manager of Communications/Press Secretary
County Executive Baker’s release
Upper Marlboro, MD— Yesterday, Prince George’s County Executive Rushern L. Baker, III and the Prince George’s County Council signed CB-4-2011, the Economic Development Incentive (EDI) Fund proposed by County Executive Rushern L. Baker, III. This bill establishes an Economic Development Incentive Fund, specifies the purpose and uses of the Fund, and provides for the financing and administration of the Fund. An appropriation of $50 million over the next five fiscal years has been designated for the EDI Fund. This includes $7 million that has been proposed for the Fund in FY 2012.
With the theme of “Employ. Develop. Invest,” CB-4-2011 was signed at Hunter Mill AME Church in Suitland. Located on Silver Hill Road across from the Suitland Federal Center and near the Suitland Metro station, this church bought the surrounding retail development space over 10 years ago and replaced a pawn shop with Rite Aid. It is this type of economic development progression that the EDI Fund was created to stimulate and accelerate.
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