Title
AN ACT CONCERNING ECONOMIC DEVELOPMENT INCENTIVE FUND for the purpose of transitioning the Economic Development Incentive Fund into a performance‑based structure that rewards employers for doing business in the County; providing for the purposes and uses of the Economic Development Incentive Fund; providing for financial assistance and application and approval of awards; providing for selected definitions; and generally regarding the Economic Development Incentive Fund.
Background
This bill transitions the Economic Development Incentive Fund into a performance‑based structure that rewards employers for doing business in the County. The Economic Development Incentive Fund shall provide a performance‑based structure that gives preferences to and rewards employers who, including but not limited to: pay above County wage benchmarks; provide health and retirement benefits; create net‑new County‑based jobs and retain existing jobs for County residents; establish Registered Apprenticeships; hire County residents; locate in transit‑accessible or priority‑investment areas; partner with Prince George’s Community College, Prince George’s County Public Schools, Bowie State University and Employ Prince George’s; and retain jobs for a defined period.