Baker gave a full assessment of the county's economic health and expectations for the future in his first state of the economy address.
"This is a difficult time in our nation's economy," he said in his speech, given on the University of Maryland, College Park campus. "But ladies and gentlemen, I'm hear to tell you that in Prince George's County the state of the economy is good!"
Speaking to approximately 400 local business leaders, Baker put a positive light on the county's projected $77 million shortfall for 2012, by pointing out the lack of any tax hike and the county's AAA bond rating. He also took the opportunity to resell his proposed Economic Development Initiative, designed to expand the county's commercial tax base.
"This will attract developers and big companies but it will also nurture small businesses that are so fundamental to our economy and society," Baker says.
The $50 million EDI investment is part of the county executive's $2.6 billion spending plan which is currently under consideration by the County Council.