Prince George's County Moves into the Retail Spotlight

Prince George's County's demographics make it an attractive market for retailers looking to expand.

While retail developers and retailers continue to be extremely cautious about expansion—last year, the industry delivered the lowest amount of new space in about three decades, according to the CoStar Group, a Bethesda, Md.-based research firm—they might forget that even in a downturn, there are areas that can support retail growth.

For example, Prince George's County in Maryland boasts a growing population due to its proximity to Washington D.C.; healthy employment in government, technology and aerospace sectors; and higher than average household incomes. By some accounts, the county is the wealthiest in the nation with an African-American majority—approximately 65.6 percent of local residents identify themselves as black, according to the U.S. Census Bureau. Another 17.6 percent identify themselves as Latino—an important fact, since African-Americans and Hispanics, along with Asian-Americans, will be among the most lucrative markets for retailers in the coming decades. As of 2005, approximately 37.2 percent of the households in Prince George's County had incomes above $75,000 a year. Retail sales per capita are somewhere around $9,261.