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Prince George's County Economic Development Strategic Plan

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The Prince George's County Economic Development Strategic Plan will set forth strategies for Prince George's County policy-makers to develop and leverage economic development opportunities with a common purpose and vision in mind. This plan will offer consensus-based economic development strategies for Prince George’s County based on findings and recommendations.

Project Overview

Economic Generators and Catalysts Study (March 2013)The purpose of the Economic Generators and Catalysts study is to identify and target key high-growth industry sectors that have the capacity to contribute to economic growth and development in the county. The study will include an assessment of regional, commercial real estate market activity and a comprehensive analysis of the county’s key economic competitive advantages and challenges in attracting strategic high-growth industries.

Project Tasks

The following five tasks will be completed as part of this study:
 
Industry Identification and Analysis of Economic Generators and Catalysts—Broad examination of the current and potential economic engines for the county to identify 10 industry clusters for more detailed assessment. View/download interim narrative.

Assessment of Regional Industry Dynamics—Detailed assessment of the performance of the county’s predominate industry clusters. (July 2012)

Best Practices for Stimulating Economic Development Activity—Identification of best practices in economic development for attraction and retention/expansion of potential high-growth industries. (August 2012)

Competitive Advantages in the Regional Economy—Analysis of the county’s key economic development strengths and weaknesses in addition to an assessment of the county’s capacity for capitalizing on economic opportunity in a competitive regional economy. (September 2012)

Policy Recommendations and Implementation Plan—Development of a five-year action plan that includes specific policy recommendations and implementation strategies to enhance the attraction of high-growth industries, stimulate growth, and build on opportunities and assets, including economic generators and catalysts that exist in the county and the region. (November 2012)

Project Process

One of the most critical aspects of formulating a consensus-based strategic economic development plan is to ensure that all stakeholders are at the table working in cooperation to drive the strategic planning process. Learn more about this strategic process.

For further information, please contact:

Jacqueline Philson, Master Planner, Countywide Planning Division—Project Facilitator, 301-952-3627