Title
AN ACT CONCERNING ECONOMIC DEVELOPMENT INCENTIVE FUND for the purpose of transitioning the Economic Development Incentive Fund into a performance-based structure that rewards employers for doing business in the County; providing for the purposes and uses of the Economic Development Incentive Fund; providing for financial assistance and application and approval of awards; and generally regarding the Economic Development Incentive Fund.
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes / No
Requested by: Krystal Oriadha
Assigned to: Kathy Canning
Legislation Type: Bill
Need by Date: ASAP
Background Necessitating Legislation:
Prince George’s County currently uses grants, tax incentives, and EDIF awards to attract and retain employers. However, these incentives are not fully aligned with verified job quality and performance outcomes. Research recommends transitioning the EDIF into a performance-based structure that rewards employers who:
• Pay above County wage benchmarks
• Provide health and retirement benefits
• Create net-new County-based jobs
• Establish Registered Apprenticeships
• Hire County residents
• Locate in transit-accessible or priority-investment areas
• Partner with PGCC, PGCPS, Bowie State University, or Employ Prince George’s
• Retain jobs for a defined period
A performance-based approach ensures County funds generate high-quality employment and supports long-term workforce development goals. It also improves transparency, accountability, and alignment with County strategic priorities.
Special Instructions/Concerns/Time Critical Information:
Please assign to Karen Zavakos or Kathleen Canning
Agencies or Individuals to Contact:
Prince George’s County Economic Development Corporation (EDC)
Office of Finance
Employ Prince George’s
PGCC, PGCPS, Bowie State University
Comments/Notes:
Title
AN ACT concerning Economic Development Incentive Fund for the purpose of transitioning the Economic Development Incentive Fund into a p...
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