Tuesday, November 8, 2011

Prince George's County Executive 2.0? // Rushern Baker Rolls Out $50 Million Economic Development Plan

Maryland Juice received the email announcement below from Prince George's County Executive Rushern Baker, regarding a newly approved $50 million economic development proposal. The Washington Business Journal introduced the plan as follows:
The Prince George's County Council on Tuesday unanimously backed the $50 million economic development incentive fund that County Executive Rushern Baker proposed shortly after his inauguration.

The 8-0 vote ensures Baker and the county government will have $50 million to parcel out over the next five fiscal years — including $7 million in the current fiscal 2012 — to attract businesses, retain existing ones, promote minority business, encourage transit-oriented development and broaden the tax base. Baker has called the EDI fund a "game changer" unlike any other pot available in the region.

Does Rushern Baker represent a new day for Prince George's County? Maryland Juice hopes so, because the Maryland-side of the Washington suburbs have so much unleashed potential....

Baker Campaign Banner

Dear Friends,

Since the day I was sworn in as County Executive, my priorities have been creating jobs, growing our economy, and improving schools and public safety. Those goals are what drive everything I have done the past eleven months, from advocating for ethics reforms, to bringing our first State agency to Prince George’s County, to taking one day every week to visit a Prince George's County school.

But the Economic Development Incentive (EDI) Fund I introduced has been the cornerstone of those initiatives. The key to creating jobs and increasing revenues for public safety and schools is growing our commercial tax base. That's why I proposed we invest $50 million into a groundbreaking fund that would be the "wow" factor we need to jump-start job creation in the County. Now, after months of planning and collaboration, I have an amazing announcement to make:

Prince George's County's jobs bill, the Economic Development Incentive Fund, has received unanimous approval from the County Council.

There is no part of Prince George's County that will not be affected by this news. Our reputation in the business community and in the region will turn a significant corner. We have signaled that we are serious about job creation and business growth.

We have also opened up a world of opportunity to small, local and minority-owned businesses. We've developed new tools to measure performance and delivery, and created a way to leverage state funds and multiply private funds by a factor of 5 to 1, 10 to 1, or even higher. And we've designed a system that will ensure the Fund is administered with financial integrity, objectivity and fairness.

But at the end of the day, what we've really done is made an investment in what matters most: good jobs, good schools and safe streets. Growing our commercial tax base means creating new jobs and generating revenue for education and public safety that will last for years to come. With the passge of the EDI Fund, we have taken a major step forward in making a good County great.

Rushern L. Baker

No comments:

Post a Comment