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Economic Development Corporation outlines priorities, warns marketing cuts will limit outreach
Summary
The Prince George’s County Economic Development Corporation (EDC) briefed the PHED committee on budget cuts that will reduce marketing and event spending, provided details on the EDI fund pipeline and international business outreach, and said state-level changes (the DECADE Act) could affect incentives the county uses to attract and retain firms.
The Prince George’s County Economic Development Corporation (EDC) told a county committee on April 7 that planned budget reductions will curtail the agency’s ability to market the county and participate in trade shows and conferences that the EDC says bring economic-development leads.
EDC leadership also described ongoing work on business attraction and retention, technical assistance for small and minority-owned firms, and the continued use of the county Economic Development Incentive (EDI) fund to support projects that may not otherwise occur without local incentives.
Key points - Marketing and events. Lori Valentine, EDC vice president for policy and public relations, said the EDC’s marketing budget is set to shrink and that the agency previously operated with roughly $350,000 for…
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