Retail Development

Overview

Centrally located in the densely populated Washington, DC Metro region, Charles County has consistently ranked among the top 20 counties in the USA for median annual household income – nearly $90,000. Part of the Southern Maryland Heritage Area, the County boasts a moderate cost of living, recreational opportunities, cultural activities, lower crime rates, diverse dining options and access to shopping, including the regional mall in St. Charles Towne Center. Charles County is well-positioned to continue to grow its retail industry to accommodate its fast-growing population The County is also within commuting distance of 1.836 million workers.

Situated along the well-trafficked US Route 301, Charles County includes many available retail spaces, with average retail lease rates which are more than 30 percent lower than less than the D.C. Metro average. In addition, average weekly wages are 31 percent less than Maryland’s average and 45 percent less than the D.C. Metro average.

Despite recent employment gains, Charles County’s retail market remains less saturated than other DC Metro area locations: A recent study commissioned by the Department shows that county shoppers spend nearly 50% of their shopping dollars outside the County. This presents an excellent opportunity for retail center investors and retailers to tap into the Charles County market.

Fast Facts and Figures

  • Charles County is one of the fastest growing counties in the state of Maryland.

  • Charles County ranks among the top 20 counties in the U.S. for median household income, with the fourth highest in the state.

  • Average Traffic Counts exceed 60,000 in Waldorf; 40,000 in La Plata; 25,000 in Bryans Road; and 13,000 in Indian Head.

  • With a diverse population from young professionals to established families, nearly 94% of residents have a high school degree, and nearly 36% hold some sort of advanced degree.

At A Glance

  • 76% homeownership rate.

  • Local, regional, and interstate traffic along US Route 301.

  • High job concentration in accommodation/food services and retail trade with 8% growth between 2010-2015.

  • Lease rates 34% lower than D.C. region.

  • 1.836 million workers within commuting distance.

 

Views from Charles

The Maryland Small Business Development Center: Business Support for Every Stage

Published: Monday, April 24, 2017

The SBDC offers training and counseling services to local businesses at all stages of growth. From the earliest stages of business planning, to preparing for business sale or exit strategy, the SBDC provides a range of resources.

Find A Property

“We are proud to be a key part of Charles County’s future and we heartily encourage other, cutting-edge companies to join us.”

Doug Egan
Chief Executive Officer
Competitive Power Ventures

“Charles County’s strategic location in the DC Metro region affords us networking and business opportunities with some of the top names in our industry."

George Nash
Director of Business Development
Facchina