INTRODUCTION • Prince George’s County: Business Improvement District Toolkit (March 2020) • Greater Washington Partnership: Unlocking the potential for inclusive transit-oriented development in Prince George’s County (December 2020) • Prince George’s County Planning Department: Small-Scale, Local Production in Prince George’s County, MD (Spring 2020) • Prince George’s Rising: Strategies for Equitable Development and Prosperity (December 2018) • Prince George’s County: Competitive Retail Market Strategic Action Plan (2017) Although this analysis began prior to the pandemic and is focused on long-term trends and alignment, it is important to note that the COVID-19 Pandemic has caused unprecedented upheaval in the realms of public health, education, transportation, and the community, workforce, and economic development sectors. For Prince George’s County, the pandemic resulted in three pronounced immediate economic concerns: • The structure of Prince George’s County’s economy made it especially vulnerable to impacts stemming from COVID-19. Compared to its peers, the share of establishments and employment in industries heavily impacted by COVID-19 were greater in Prince George’s County than in other areas.1 Vulnerable sectors include retail, arts/entertainment, accommodations, food services, and professional services. • Prince George’s County was faced with widespread unemployment and continues to recoup job losses. As of December 2020, the County had the state’s
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highest rate of unemployed workers as a share of job openings (2.43), a rate that cuts across educational, occupational, and skill levels.2 • There is great uncertainty in the Prince George’s County’s real estate market. While the County has benefited during the pandemic from growing interest in warehouse and distribution space, as well as data centers, the future of its commercial spaces is unclear. For office space, despite the rise of teleworking, the County may be in a stronger position than other regional jurisdictions because its locations have a lower cost per square foot and are generally convenient for auto-oriented commuters. Still, the overall prospects for commercial office space may not be bright. The County’s large supply of retail space may see a rise in other uses. Today, Prince George’s County is hard at work dealing with the immediate aftermath of the COVID-19 Pandemic, and these distinct challenges underscore the importance of having a longer-term strategy for creating new, quality jobs in the County and continuing efforts to orient the County’s economy around resilient sectors and broadbased, inclusive development.
BUILDING ON ECONOMIC DEVELOPMENT MOMENTUM IN PRINCE GEORGE’S COUNTY In the years leading up to the COVID-19 Pandemic, Prince George’s County was making significant strides related to innovation-oriented economic development, workforce development, and placemaking. The implementation of Prince George’s County’s May 2013 Targeted Economic Development Strategy by the Prince Georges’ County Economic Development Corporation (PGCEDC) has boosted the County’s economic trajectory, helping to bring new jobs, investment, and energy to the County. From the 2013–2019
Economic Development Strategic Action Plan For Prince George’s County
