2023 Annual Report - Flipbook - Page 17
In 2023, Economic Development created an
ASSET INVENTORY as a crucial step in
its strategic planning process.
The Asset Inventor y identifies and categorizes the
diverse array of tangible and intangible assets within
the region that can be harnessed to support workforce
and economic development initiatives.
By systematically cataloging these resources, count y
leaders gain valuable insights into the intricacies of
their economic landscape, pinpointing both strengths
and areas requiring additional investment. This comprehensive understanding not only informs strategic planning but also facilitates resource allocation
and the forging of par tnerships, ultimately ser ving
as a foundational tool to guide the count y’s developmental trajector y in an increasingly competitive
global landscape.
ECONOMIC DEVELOPMENT
FOR CHARLES COUNTY
Business Support &
BGAP Statistics
4
52
43
236
Business Visits
888
Businesses Supported
(engagement hours)
900
Engagement hours
14
Workshops hosted
Total
BGAP Grants Disbursed
220
Business Welcome
Letters
Pending
Grant Disbursements
CAPITAL
INFUSION
Total Participants/
Graduates
Minority Businesses
$430,000
$85,000
EDD Loan Programs, and Federal and State
COVID Relief Grant Programs
10 COVID-19 Loans
totaling $50,000
issued, with 8 to
minority-owned
businesses
BGAP Cohorts
$396,517.55
$250,000
in Business
Development Loans to
businesses, of which
benefited minorityowned businesses
in Target Industry
Loans to
businesses, of which
are minority-owned
businesses
14
10
3
2
$558M
IN INVESTMENTS
The Economic Development Department
is engaged with a number of major
projects that impact on the County’s
commercial tax base expansion. These
investments represent an estimated
$558M upon project completion.
ATTRACTING BUSINESSES
TO CHARLES COUNTY
Digital ad campaign visibility
2,843,859 . . .Ad Impressions
8,198 . . .Clicks
= 3.81% . . .Click through Rate
