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Members Of Financial Advisory Committee Named To Oversee $50 Million Economic Development Fund

County Executive Rushern Baker recently announced appointees to the seven-member Financial Advisory Committee that will assist County Chief Administrative Officer (CAO) Brad Seamon in reviewing loan and grant applications for the Economic Development Incentive (EDI) Fund. Signed into law in November 2011, the EDI became operational in March 2012 and is designed to make much-needed capital available to the small business community in Prince George’s County. The fund also allows the County to compete with for various business relocation opportunities.

Creating the oversight body is one of the final steps the county must take before beginning to distribute the funds, of which $18 million is available in fiscal 2012 and fiscal 2013. The Economic Development Corporation has received 39 application to date. Learn more by reading the Washington Examiner. To find out more about Advisory Committee members, click here.

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