October 23rd-27th is Economic Development Week in Maryland. Hosted by the Maryland Economic Development Association (MEDA), this week is all about celebrating the impact of economic development in our communities and increasing an understanding of economic development's contribution to the state's business climate, job retention and growth, the tax base and overall quality of life in Maryland.
In 2016, Frederick County saw several great milestones and successes in economic development. For the first time in history, the number of jobs in the county climbed above 100,000 which represented 7.4% job growth since 2012. The county's commercial real estate vacancy hit a 5-year low, at just 9% (compared to 14.4% vacancy in 2012). More than 1,900 small business clients were served by OED and our partners at the Small Business Development Center and Maryland Women's Business Center.
To celebrate Economic Development Week, OED is hosting the 17th Annual Business Appreciation Week this week. Teams of more than 60 Ambassadors will visit over 120 businesses to say THANK YOU for doing business in Frederick and to listen to the business community's feedback about their needs, opportunities and challenges. The feedback we receive is used to inform policy, regulatory changes, new program formation and improved service delivery.
OED is the county's economic development agency and catalyst for economic growth in Frederick County. Our mission to increase the overall economic health of the county through attracting new business in our targeted industries and helping existing businesses become more successful.
MEDA is a statewide membership organization dedicated to enhancing the knowledge and skills of its members, encouraging partnerships and networking among people committed to bringing jobs and capital to Maryland, and promoting economic development as an investment in Maryland.