Leaders in Prince George’s County, Maryland, have pointed to certain data points as proof that the economy is good and growing, though they also lament the lack of commercial tax revenue coming in compared to neighboring jurisdictions and the tough choices it creates.
During the annual State of the Economy breakfast on Thursday, sponsored by the local business community, county leaders pointed to signs suggesting that the commercial tax base is starting to grow in Prince George’s County, with promises that it will be taking off in the years ahead.
During her speech, Prince George’s County Executive Angela Alsobrooks noted how the county more than doubled the number of businesses operating within it from 2012 to 2022.
“Many of these businesses are high technology enterprises focused on building a greener tomorrow,” Alsobrooks said.
She proceeded to name-drop companies like ION Storage Systems, which recently opened its new facility in Beltsville after being created in a University of Maryland lab. Alsobrooks also boasted that the relocation of the FBI headquarters to Greenbelt will further enhance the county and its business and economic future, calling it a “transformative” move in the years to come.
“As the FBI grows, so will a network of startups and vendors. Cybersecurity and technology, artificial intelligence and many other services will be right here in our community,” Alsobrooks said. “Greenbelt will be a major hub for security research. The FBI will anchor an entire ecosystem of innovative companies that drive economic growth. And beyond these direct partners, more and more companies will invest right here.”
That’s certainly long-term planning, though, as construction of the new facility isn’t expected to start until 2029, with move-in coming in 2036. That means that future presidential administrations could derail the project regardless of the federal dollars already spent. However, county leaders remain optimistic that the project will move forward, with Alsobrooks saying it will “reshape our community for centuries.”
In addition, Alsobrooks touted a series of transit-oriented developments in various stages of construction, from the redevelopment of the area around the New Carrollton Metro station to efforts to transform the Blue Line Corridor of Central Avenue from Largo to Capitol Heights.
“All of our work this past year positions our community for a new century of growth,” Alsobrooks said. “We’ve spent decades encouraging investment in Prince George’s County. And even as the region focused on the west side of the Potomac, we kept our heads down and our spirits up.”
She closed out her speech promising that a “century of growth” and improved quality of life is in store for the county.
“We stand with companies, industries and individuals who want to bring their best ideas to life,” Alsobrooks said. “We stand with workers who want the best for their families, and we stand ready to help ambitious entrepreneurs who want to make the world a better place.”
Her speech was made at MGM National Harbor at an event hosted by the Greater Prince George’s Business Roundtable and the Prince George’s County Economic Development Corporation, a quasi-government organization aimed at bringing new businesses to the county.