The Prince George’s County Council, during its virtual session on Tuesday, March 31, 2020, unanimously voted to support a request from County Executive Angela D. Alsobrooks, establishing a Prince George’s County COVID-19 Business Relief Fund.
With Tuesday’s Council action, this financial relief initiative, will be supported with $10-million in resources from the County’s Economic Development Incentive Fund (EDIF), and additional partnership support from private sector, including local banks, of up to $5 million. These funds will provide immediate assistance to small, local, and minority County-based businesses impacted by the COVID-19 public health crisis sweeping Maryland, the United States and the world.
County-based businesses, which provide jobs, resources and services for our residents, form the foundation for economic development progress in Prince George’s County. The COVID-19 Business Relief Fund will help small, local, and minority-owned County-based enterprises, now facing closure and layoffs, retain their pre-pandemic workforce and sustain operations during the coronavirus emergency. The COVID-19 Relief Fund will work in conjunction with both Federal and State financial assistance available to County-based businesses and employees.
The County Council looks forward to its continued partnership with the Alsobrooks Administration on this and future initiatives on behalf of the residents and businesses of Prince George’s County during this global pandemic.