Baker (D), who was sworn in Dec. 6, said the state of the county’s economy is good but ultimately unsustainable without significant changes, such as creating the fund. He said it would expand the county’s commercial tax base, which would help pay for schools, public safety and social services.
Baker has said he plans to spend about $7 million of the fund in the first year, far more than most nearby jurisdictions. The fund, potentially the region’s largest, is subject to approval by the County Council, which will examine the plan as part of its spring budget deliberations.
“The market is here, the resources are here. And the business community you represent is already strong, smart and growing. But tonight, I want to move beyond talking about the county’s potential because the time for us to fulfill that potential is now,” Baker said.
Money for the fund would come from the county’s one-time $116 million budget surplus and would support a system of loans, grants, incentives and guarantees to businesses. Baker has also said he would tap the surplus to shore up school funding, teacher training and an environmental education program.
Reflecting the views of many in the audience, Rhonda Slade, the chamber’s president, said she was heartened by Baker’s plan. “We are excited and hopeful,” she said.
A new economic development team in Baker’s office will focus on creating jobs near the county’s 15 Metro stations. Areas around stations have been centers of development elsewhere in the region, but the ones in Prince George’s have had less effect.
The county is also making a major push to attract federal agencies, such as the Department of Homeland Security and the FBI, and relocate them where there are amenities that thousands of workers would need, such as restaurants, shops, pharmacies and dry cleaners.
“We must seize every opportunity to convince the federal government that moving to Prince George’s County is good for them and good for the region,” Baker said.
He also plans to make a major push for other kinds of businesses.
While his proposals have won kudos from business leaders, they have caused some anxiety among residents who worry that businesses could be subsidized at the expense of schools and social services. But Baker said it was necessary to increase business activity to address what he said are his top priorities: fixing public schools and enhancing public safety.
While Baker has made ethics reform a centerpiece of his efforts in Annapolis this year, after the arrests of former county executive Jack B. Johnson (D) and his wife, County Council member Leslie Johnson (D), on federal corruption charges, he made only passing reference to ethics. Instead, he focused largely on economic development as a means to meet the county’s fiscal challenges.
“Better schools attract more residents and more businesses. . . . We are poised to become a major engine of economic growth in this region,” he said.
Baker also addressed other frequent complaints from the business community, such as the county’s complex permitting system. He said an economic development team will help shepherd businesses through the process of obtaining permits.
“I say with confidence the state of the county’s economy can only get stronger,” he said. “The business of Prince George’s is business. Now, let’s get to work.”
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