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OFFICE of

economic Development

OVERVIEW

The Office of Economic Development provides a variety of resources to cultivate a thriving business atmosphere by fostering business retention, expansion, visitor attraction and tourism. 

What is Economic Development?

 Economic development is the intentional practice of improving a community’s economic well-being and quality of life. It includes a broad-range of activities to attract, create, and retain jobs, and to foster a resilient, progrowth tax base and an inclusive economy. The practice of economic development comprises of a collaborative effort involving industry, government and myriad community stakeholders.

--International Economic Development Council (IEDC)


INFO

Economic Development Manager
Bridgette Johnson

240.487.3506
bjohnson@collegeparkmd.gov

City Hall

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news & reports »»»»

Business & Economic Development News

  • Click Here to watch the presentation on 4/20/21 by the Terrapin Development Company on the general plans for Parcels B & C in the Discovery District (adjacent to The Hotel)
  1. Business Beat
  2. Annual Report
  1. Business Beat

Business Beat

  1. Annual Report

business resources »»»»

general information for businesses


  • Maryland Entrepreneur Hub
  • Maryland Business Express - Information for Businesses
  • FAQs for Maryland Businesses
  • U.S. Chamber of Commerce
  • U.S. Department of Labor
  • Maryland SBDC - COVID-19 Small Business Survival Guide
  • SBDC - Resources for Businesses
  • Doing Business with FEMA
  • Doing Business with the Department of Homeland Security
  • Maryland Department of Commerce
  • Prince George's County Economic Development Corporation
  • Prince George's Chamber of Commerce
  • Prince George's County, MD

WORKFORCE DEVELOPMENT
  • U.S. DEPARTMENT OF LABOR
  • MD DEPARTMENT OF LABOR
  • U.S. CENSUS

FUNDING SOURCES

  • SBA Coronavirus Relief Options
  • State of Maryland Financial Assistance Programs
  • State of Maryland 2021 RELIEF Act
  • BGE Energizing Small Business Grants Program
  • Coronavirus: SBA Small Business Guidance & Loan Resources
  • MARBIDCO: Maryland Agricultural & Resource-Based Industry Development Corporation
  • MSAC: Maryland State Arts Council
  • MEDAAF

TOURISM & ATTRACTION

  • Experience Prince George's County
  • Visit Maryland

incentive programs »»»»

  1. Facade Improvement Program
  2. Revitalization Tax Credit Program
  3. HUB Zone
  4. Opportunity Zone
  5. Rise Zone
  1. Facade Improvement Program

Modified Business Assistance & Façade Improvement Program

Total Funding: $150,000

The goal of this program is to assist local businesses and commercial property owners with capital improvements that enhance the physical appearance of the business and the commercial district. This existing program has been modified to eliminate the requirement for providing matching funds.

The City will reimburse the total cost of improvements not to exceed $15,000 for exterior improvements and $5,000 for interior improvements. The total amount of the grant shall not exceed $15,000 for any property. The City will accept applications on a rolling basis until funding is exhausted. Funds are provided after the work has been completed.

  

For more information about the program, please visit www.collegeparkmd.gov/businesses#assistance.

EligibilityRequirements
  • An applicant must own or represent a business or be a commercial property owner.
  • A tenant must have at least two years remaining on the lease.
  • A property must be a legally existing commercial building within the City’s municipal boundaries.
  • A business must have no more than 10 outlets and not be part of a national chain*.

*Locally owned franchises are eligible to apply.

  • The business must be at least 50% locally-owned (in the Baltimore/Washington metro area).
  • Business tenants in multi-tenant buildings that do not have independent storefronts are not eligible to apply.

  • Submit a completed application form including a description of proposed improvements, preliminary cost estimates and a construction schedule.
  • Documentation of eligibility including:
  • Copy of lease for business operating in rented premises.
  • Current County Use and Occupancy Permit.
  • Written consent of property owner if applicant does not own property.

  1. Revitalization Tax Credit Program

REVITALIZATION TAX CREDIT PROGRAM

As part of the City of College Park’s effort to attract high-quality redevelopment, the Revitalization Tax Credit Program provides financial incentives by creating revitalization districts in the City and setting criteria for granting property tax credits against the municipal corporation property tax imposed on city real property.

Qualifying projects are eligible to receive a 5-year tax credit on city real property taxes based on the increased assessment attributed to the taxable improvements upon project completion as determined by the Supervisor of Assessments. The tax credit shall be in an amount equal to 75% of the increased assessment of city tax imposed in the first year; 60% in the second year; 45% in the third year; 30% in the fourth year; and 15% in the fifth year.

Use the following links to view guidelines and an application for the program.


  1. HUB Zone
  1. Opportunity Zone
  1. Rise Zone
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