October 23, 2019

Montgomery County Economic Development Week Highlighted by Welcoming New Companies—Including One Led by Brothers Who Are Blair High Alumni

Montgomery County Small Businesses

For the past 10 months, Montgomery County Executive Marc Elrich has been visiting with business leaders and business owners to find out what they need to succeed in Montgomery County. The majority of businesses in Montgomery County are small. Among his messages has been: Government cannot make any business succeed—but it sure can help them to that goal by providing the support our businesses need.

Montgomery County, in partnership with the Maryland Economic Development Association (MEDA), recently joined in the celebration of Economic Development Week in Maryland. County Executive Elrich used the opportunity to continue visiting businesses of all types and sizes—something he done since his first week in office.

During Economic Development Week, he joined local business leaders to welcome Maryland Commerce Secretary Kelly Schulz and to discuss ways in which the State could help drive additional economic development in the community. Among the businesses he visited was the soon-to-be new operations of RADA Technologies, a radar systems manufacturer, in Germantown.

Another milestone in Economic Development Week was officially welcoming Truebill, Inc., a leading financial technology company, to Downtown Silver Spring. It relocated from the San Francisco Bay area. Truebill CEO Haroon Mokhtarzada is a serial tech entrepreneur and investor originally from Montgomery County — an alumnus of Montgomery Blair High School. He co-founded the company along with his brothers, Zeki, Idris and Yahya. Mokhtarzada.

The County provided $4.7 million in Fiscal Year 2019 for local business growth and expansion.

Last week, the County announced the expansion to the East County of the Business Connect program that brings needed advisory services to business owners, rather than having the previous limited access that was only available from an office in Rockville. The small business hubs were previously opened in Germantown and Silver Spring.

For more information on doing business in Montgomery County, visit the Montgomery County Business Portal.

Montgomery County Executive Marc Elrich was among those formally welcoming Truebill, Inc., to Silver Spring. The leading financial technology company has relocated its corporate headquarters from the San Francisco Bay area.

1 comment:

  1. "The County provided $4.7 million in Fiscal Year 2019 for local business growth and expansion."

    What does this even mean? Why are Montgomery County taxpayers subsidizing or granting private businesses? How is this practical? Intelligent? Which "local" businesses are getting these funds? Why couldn't they procure them from the private market i.e. from banks or lenders?

    Why does MoCo leadership fail to see that providing money to private enterprise distorts the market, is a form of central planning, and causes bad effects?

    Why hasn't the energy tax on businesses been fully sunset, as promised repeatedly?

    Why hasn't the county privatized liquor and beer and wine operations, to allow for private sellers and consenting adults to sell and make what they wish on their property?

    Why are the cottage food laws in MoCo and MD behind neighboring states like PA and VA? Why are there so many ridiculous regulations on small business when in VA, you can start an LLC for about $300?


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