Economic Development Strategic Action Plan For Prince George’s County

Page 58

STRATEGIC PRIORITY 2 projected to increase more rapidly than both population and labor force, as the County continues to transition from a suburban supplier of talent to Washington, D.C. and the larger metropolitan area into an employment center in its own right. A significant volume of skilled talent emanates from colleges and universities in Prince George’s County. With Bowie State University and the University of Maryland, College Park located in the County, Prince George’s County has access to a strong talent pipeline, especially for higherskill- and education-level occupations.49 Universities in Prince George’s County are churning out degrees with a high concentration in fields such as engineering, computer sciences, physical sciences, and biology/life sciences. Prince George’s County residents have a higher level of educational attainment than the nation as a whole but lag the larger region and key surrounding jurisdictions.50 The industry clusters driving the economy of Prince George’s County have created, and are expected to continue to create, a diversity of jobs. The JFI-TEConomy analysis identified that many of the leading industry clusters for Prince George’s County are expected to have a major ramp-up in needs for bachelor’s-level and middle-skill-

level jobs.51 Occupations in the management, business, science, and arts occupations experienced the greatest job growth over the 2013–2018 period and are projected to lead in job growth through 2028. The diversity of the Prince George’s County workforce—with a broader mix across education and skills compared to the region—suggests an opportunity to align the existing workforce with mix of skill needs of the industry cluster. Many Prince George’s County residents are highly skilled and well-compensated, while also commuting outside of the County for work. With roughly three-fifths of its residents commuting to jobs outside of the County, Prince George’s County is an important source of labor to the larger regional economy.52 Prince George’s County has the sixth highest concentration of out-commuting workers among the comparison jurisdictions. Notably, Prince George’s County’s out-commuters earn more, are better educated, and are more likely to work in professional services (Table 5). Still, these out-commuters represent an important pool of experienced, highly educated professionals that can support the County’s future economic development efforts.

Table 5. Select Characteristics of Prince George’s County Residents by Commuting Status Resident Characteristic Average wages

Working in Prince George’s County

Working elsewhere in Maryland

Working outside of Maryland (DC or VA)

$48,464

$56,972

$66,731

Share with a bachelor’s degree or above

30%

37%

40%

Share working in professional occupations77

19%

23%

31%

48

Economic Development Strategic Action Plan For Prince George’s County


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Figure 12. Density of Research Intensive Businesses

8min
pages 116-119

Figure 11. Density of Information Technology Services Businesses

6min
pages 111-114

Figure 10. Density of Hospital and Health Services Businesses

1min
pages 108-109

Figure 7. Locations of Prince George’s County’s Downtowns and Other Targeted Investment Areas

29min
pages 79-99

Figure 9. Density of General Services Administration Offices

2min
pages 105-106

Table 5. Select Characteristics of Prince George’s County Residents by Commuting Status

36min
pages 58-76

Appendix 1: Assessment of Prince George’s County’s Economic Drivers

1min
page 100

Human Capital: Cultivating Talent and Connecting Prince George’s County Residents with Economic Opportunity

1min
page 57

Strong Places: Strengthening Places Across Prince George’s County and Improving the Core Business Environment

1min
page 77

Table 4. Summary of Emerging Issues to Address Through Strategic Priorities

21min
pages 44-56

Strategic Framework for Advancing a Strategic Action Plan for Economic Development

2min
page 17

Table 3. Outline of Strategic Action Plan

1min
pages 31-34

Figure 4. Leading Research Institutions in Prince George’s County by Publications (2012–2019)26 Figure 5. Growth in Federal Procurement in Prince George’s County by Agency ($, thousands

15min
pages 37-43

Table 2. Summary of Emerging Issues to Address Through Strategic Priorities

4min
pages 23-25

A New Trajectory for Economic Development in Prince George’s County, Maryland

2min
page 13

Figure 3. Visualization of Plan’s Interconnected Strategic Focus

10min
pages 26-30

Building on Economic Development Momentum in Prince George’s County

2min
page 14

Table 1. Strengths and Opportunities in Driving Industry Clusters

10min
pages 18-22
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