Prince George’s County has quickly become an increasingly attractive location for new companies, including many that are developing innovative products and services. Business leaders say the county is seeing growth in many types of companies, including high technology, cybersecurity and bio-health firms. In 2022, according to Census data, there were 22,452 business formations in Prince George’s, more than double the number in 2012. In Montgomery, business formations totaled 16,471 in 2022, a 48 percent increase from 10 years earlier. Statistics for 2023 are to be released this summer.
A look ahead: Not only is the county seeing growth in startups, it’s welcoming agencies and companies relocating from Washington, D.C., and neighboring counties in Maryland and Virginia. Most notably, the federal government announced late last year that the FBI’s long-awaited new headquarters will be built in Prince George’s, a major win for the county which beat out bids from Virginia. The FBI is expected to be a draw for a new crop of cybersecurity companies.
