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An ideal location just outside of downtown Washington, D.C.; access to a highly educated pool of employees; on-going economic development; and an overall excellent quality of life have all attributed greatly to the prosperity of Prince George’s County’s robust economy. The county hosts quite a diversified business community, made up of approximately 15,600 businesses employing more than 232,000 employees, according to the Maryland Department of Business and Economic Development.

The county offers a more cost-effective locale to establish business operations in comparison to surrounding areas. Urban mixed-use developments, suburban office parks, and extensive industrial and distribution sites are found throughout Prince George’s County. Prominent business areas include MSquare, the University of Maryland Research Park; the new Konterra Business Park (construction on this site began in 2008, with a projected completion date in 2020); Ammendale Business Park; and the expansive National Harbor development. Prince George’s is also equipped with the 110-acre Steeplechase 95 Foreign Trade Zone, a developing site with more than 1 million square feet of industrial, flex, retail and office space that will ultimately generate approximately 900 new jobs for county workers.

In addition to the competitively priced land and building sites in the county, businesses take advantage of a host of incentive programs. The FTZ designation at both Steeplechase 95 and the Collington Business Park provides a significant advantage when it comes to import/export and global logistics enterprises. Other benefits include the Maryland Job Creation Tax Credit program, Revitalization Tax Credit program, Enterprise Zone opportunities, the High Tech Incentive Package and the Small Business Revolving Loan Fund, among others. Furthermore, the Prince George’s County EDC instituted the Small Business Initiative in order to provide assistance to small and minority-owned businesses, along with opportunities for training, management consulting, marketing/market analysis services, technology services, and much more.

The county boasts of a rich pro-business attitude and a strong support system composed of several business-oriented organizations. The Prince George’s Chamber of Commerce, Prince George’s County Economic Development Corporation, and Maryland Department of Business & Economic Development’s Largo office are driving forces in the area’s economy. College Park hosts a regional Maryland Small Business Development Center, which “links private enterprise, government, higher education and local economic development organizations to provide management, training and technical assistance to Maryland’s small businesses.” The Small Business Administration office of Washington, D.C., also serves Prince George’s County, providing a wealth of resourceful services and tools for small businesses. Plus, the area is home to excellent business incubators at the Business and Technology Growth Center in Hyattsville, Prince George’s County Technology Assistance Center in Largo, and the Technology Advancement Program in College Park.

Adding to all this is the presence of several excellent colleges and universities. Not only do these institutions produce highly educated and motivated workers for the county, they also provide opportunities to area businesses in the way of customized training courses and access to pertinent business resources.

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