History and Overview
Focusing on its mission of providing relief to disadvantaged residents of PG County and nearby areas by establishing programs and resources that foster economic growth and community development, Reid CDC has developed a three-pronged set of goals for its 2016-2017 program years:
Strengthen the economic environment and encourage entrepreneurship by providing structured training, technical assistance, and incubator support in our Community Business Center to prospective, start-up, and expanding businesses.
Strengthen and revitalize neighborhoods by providing home ownership preparedness training programs, counseling, and other resources to educate and empower families.
Mitigate some of the economic and social stresses on families by providing,
at the Reid CDC Community Business Center and other selected locations throughout the County, workforce development and financial literacy educational events, job search and referral services, and other resources to unemployed and underemployed residents of the County.
Over the past 22 years, Reid Community Development Corporation (in partnership with individuals, other community organizations, businesses, churches, and government agencies) has achieved sustainability. A few notable accomplishments are listed here:
Since year 2000, Reid CDC has provided training to more than 450 persons on topics related to financial literacy, home buyer counseling, and foreclosure mitigation.
Since the year 2002, Reid CDC has provided training to more than 925 persons in several key areas, including: job readiness, job searching, dressing for success, interviewing techniques, resume writing, and financial literacy and budgeting.
Through its Community Business Center Program, Reid CDC has provided business development training and technical assistance to more than 500 start-up and expanding businesses in Prince George's County and surrounding communities. Also, we have assisted a number of these businesses in finding loans and capital through banks and other intermediaries. As a result, the businesses have created jobs for hundreds of low and moderate income residents.
In 2011 and 2012, Reid CDC acquired funding in the amount of $675,000 to purchase and build out the Reid CDC Community Business Center, a 1723 square foot office condominium in Glenn Dale, Maryland. The Center includes a Conference and Workforce Development Room, business incubation offices, staff offices, and reception and kitchen areas. The total project cost was about $700,000. This asset ownership is debt-free because all monies for acquisition and build-out were provided by grants and owner investment. Thus, there is no mortgage nor rent to be paid, only occupancy and operating costs.
Reid Community Development Corporation understands and values the strength of partnerships and their effect on goals, objectives, and community outreach and capacity. To strengthen its capacity, Reid CDC has formed partnerships and collaborations with a number of community and government organizations, including:
Prince George’s County Department of Housing and Community Development
Reid Temple A.M.E. Church and Reid Temple Employment Ministry
Office of the County Executive, Prince George’s County
Housing Options & Planning Enterprises, Inc. (H.O.P.E., Inc.)
State of Maryland, Minority Business Agency
Prince George’s Community College Workforce Development Institutes
Prince George's County One-Stop Career Center (Maryland Department of Labor, Licensing and Regulation)
ECDC Enterprise Development Group
Large percentages of the Prince George’s County and nearby residents who participate in Reid CDC’s affordable housing, workforce development, and entrepreneurial development educational and other resource programs are socially and economically disadvantaged. Many are unemployed or are underemployed. For this reason, Reid CDC endeavors to offer its programs at no cost or very low cost to participants, creating a need for financial resources from avenues other than participant fees. Reid CDC collects fees from space and conference room rental, but anticipates that a portion of the financial resources it needs to fund no- and low-cost programs will continue to come from government and private grantors.
Business Development and Entrepreneurship
Space available for leasing to growing businesses
Front/Back Office Support (reception, direct T/A, marketing, legal, accounting, and business coaching)
Entrepreneurial Training Seminars and Workshops
Micro-Business Revolving Loan Funds
Workforce Development Activity
Workforce Development/Job Referral Services
Home Ownership and Housing Development
Home Ownership and Housing Counseling Services (home ownership, foreclosure and mitigation programs, financial literacy training, HUD counseling programs, CHDO projects, and affordable housing programs)
Non-profit and For-profit Formation (referrals); grant writing and development
Technical assistance to prepare business plans