Prince George's County Economic Development Corporation News
Small Business Initiative Celebrates First Graduating Class of the Contractors Development Program
LARGO, Md., July 18 PRNewswire — Yesterday, on July 17, the Prince George's County Economic Development Corp.'s Small Business Initiative Program (EDC, SBI) celebrated the first graduating class of the Prince George's County Contractors Development Program, at the Camelot by Martins in Upper Marlboro, Maryland. The program was presented in collaboration with the Metro Washington Chapter of the Associated Builders & Contractors, The Surety Fidelity Association of America, Construction Finance and Management Association, The Peterson Companies, Konterra, Westphalia, Laurel Commons Mall, general contractors, and many other finance and bonding partners of SBI.
This graduation ceremony is the culmination of the County's first 12 week certificate program aimed at increasing the capacity of its local companies. "I consider these companies to be Prince George's County's A Team," said Charlotte Ducksworth, Director of the Prince George's County Small Business Initiative. "These companies have net values of $200,000 - $8 million. While they've learned a lot during this program, they came to the program as accomplished businesses." Companies in this program will leave with construction accountants, attorneys, bond agents, sales coaches and developer relationships that they did not have before. One of the unique elements of the program is to provide ongoing support through the mentor protégé component. During the program, the two-year Mentor Protege agreements for the participating companies were signed. Some of the companies that have agreed to be mentors are: Tompkins Builders, Foulger-Pratt, Coakely & Williams, Bozzuto Construction, Oncore Construction, Clark Construction, Forrester Construction and Total Engineering.
Even in its infancy, this program is being touted as a model program, because of the collaboration between a national builders association, local developers, and major financial management and bonding institutions. This program will not only generate capital for local and minority businesses, but it will also create legacy wealth for each and every company that participates.
The Small Business Initiative administered this program. It is a division within the Economic Development Corporation that provides direct assistance to rapid-growth small and minority owned businesses located in Prince George's County. Through its Alliance Partners and consulting staff, SBI develops success strategies for all clients. To find out more about the SBI Program go to www.pgcedc.com
SOURCE Prince George's County Economic Development Corporation
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