Prince George’s County Experiences Economic Growth

Prince George’s County, which was hit hard during the recession, has experienced laudable economic growth in the past few years. As reported in The Washington Post:

County Executive Rushern L. Baker III (D) unveiled economic data Monday that demonstrate that Prince George’s has created thousands of jobs, reduced unemployment and seen home prices jump nearly 50 percent in the nearly five years since he took office.

Baker and the County Council have made economic development the focus of their administration, setting aside millions for a business loan program, streamlining the permitting process, green-lighting projects like the MGM casino and pushing forward on a hospital. With $6 billion worth of projects, officials say Prince George’s is ripe for business development.

“For the first time, we are competitors,” Baker said, recalling how early in his tenure he had to court developers at retail conferences because so few companies were interested. Now, he said, “they come to us.”

“Throughout Prince George’s County, we are on the rebound,” he said.

The article notes that while the county has made much progress it still faces challenges in catching up to neighboring jurisdictions. This includes lowering the unemployment rate and improving the school system and housing market.

For more information read the full article in The Washington Post.

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