The City of Frederick Department of Economic Development strives to increase economic opportunity for Frederick residents through job creation, revitalization, and reinvestment. This mission is achieved through four strategic priorities:
- Job Creation (business attraction, retention and expansion)
- Business infrastructure advocacy
- Downtown Revitalization
- Corridor Revitalization
Job Creation
Business Attraction
Business attraction and retention is a core function of DED. Attraction is pursued through partnerships with Frederick County Office of Economic Development and the Maryland Department of Business and Economic Development. DED strives to promote Frederick as an ideal business location within the state, region, and along the East Coast. Outreach efforts include regional and national trade shows targeted at bioscience and technology; targeted regional advertising that focuses on bioscience, technology, manufacturing and site selection consultants; and participation in and sponsorship of key industry events hosted by groups such as the Tech Council of Maryland and Maryland/DC Chapter of NAIOP.
Business Retention/Expansion
Business retention and expansion is DED’s most important aspect of job creation. Studies by the International Economic Development Council (IEDC) show that 65-80% of new jobs in a community are created by the existing businesses. As an example – if every business in the city added just one new job a year that would be 3,450 new jobs annually! Retention and expansion efforts include business retention visits; attendance at local business events such as the Frederick County Chamber of Commerce activities; local advertising and trade shows; and support for expanding businesses as they navigate the development review and permit process.
Home-grown Businesses - Entrepreneurship
Another strategy for strengthening the Frederick economy is through home-grown businesses. Entrepreneurs and small business start-ups are a growing source of job and wealth creation in Frederick. DED achieves these efforts in several ways, including support of the Frederick Innovative Technology Center (FITCI), the first business incubator in Frederick County, and participation in the Entrepreneur Support Network.
Downtown Revitalization
Downtown Frederick, serving as the County Seat, is home to more than 600 businesses and 5,000 employees. Downtown is also the hub of culture and tourism, attracting more than than 1.4 million visitors annually. As a major economic engine within the City, continued revitalization, reinvestment and adaptive reuse of historic buildings are key economic development goals for DED. Click here to learn more.
Corridor Revitalizaton
The City's retail and business corridors also serve as valuable economic engines. Revitalization and reinvestment in traditional retail corridors and the surrounding neighborhoods are critical DED initiatives that strengthen both the business community and quality of life in Frederick. Click here to learn more.
Key Corridor Initiatives
