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PG Suite Magazine: Lunch And Leadership
June 24, 2019
PG Suite Magazine
Lunch And Leadership
At a recent lunch with The Greater Prince George’s Business Roundtable, State Comptroller Peter V. R. Franchot chatted with members of the group.
Franchot, who has put several hundred miles on his SUV travelling across the state keeping his finger on the pulse of business progress and concerns among business groups, roundtables and various chambers of commerce, came to Prince George’s to listen to local business leaders.
The visit with county business leaders was informal and took place in a casual setting.
“We very much appreciate Mr. Franchot taking the time to sit down with us and discuss, with candor, items of impact to the business community,” said the Roundtable’s Vice President & Director of Operations James R. Estepp of Mr. Franchot’s visit. “His thorough knowledge of the state's financial footing, along with his previous service in the Legislature, make him one of the essential voices in understanding the relationship between the state and businesses in Prince George's County.”
Among the Roundtable members in attendance were the Pohanka Automotive Group, Joint Base Andrews, Systems Applications and Technologies, Inc. (Sa-Tech), FSC First, William F. Chesley Real Estate, MGM National Harbor, Bishop McNamara High School and Employ Prince George’s.
The state’s top fiscal administrator reported that Maryland’s economy is in good condition with a $500 million surplus that he would like to see placed into a rainy-day fund.
“There will be a correction over the next 18 months,” Franchot said and suggested that there may be a short-term recession.
But he reiterated that Maryland’s economy is currently so strong that if business owners here are not making money, “something is wrong.”
In listening to the concerns of business trendsetters in Prince George’s, Franchot discussed matters ranging from taxes, transportation, toll roads, and economic development to financial literacy in schools, credit scores and Junior Achievement.
The fiscally conservative Franchot recognized his great relationship with Gov. Larry Hogan in managing the state but also acknowledged how critically high service ranked in his own set of priorities.
“Forget how much money was spent [on a given program or initiative], the question is, what are the results of having spent the money,” Franchot says.