Employers May Be Eligible for Grant Funding to Create Jobs and Support Their Growth

Employers based in Montgomery County that are company headquarters or national nonprofit organizations or who are in the category of “targeted industries,” may be eligible for up to $500,000 in grant funding to create jobs and support their growth and expansion.

Eligible companies creating at least five new full-time, permanent jobs with a base annual salary of $100,000 (excluding benefits) can receive up to $10,000 per new job created. For businesses located in Community Equity Index disadvantaged areas, the award increases to $12,000 per job.

Eligible businesses must be located in Montgomery County, operate in one of the target industries (listed below) and hire a minimum of five full-time employees within six months of submitting an application.

Details of the grant funding program include:

• Target Industries: Life sciences, advanced technology, cybersecurity, quantum computing or hospitality.
• Funding: Awards range from $10,000 to $12,000 per qualifying job, with a maximum total award of $500,000 per company.
• Rolling Applications: Companies can apply as soon as they are ready.
• Funds awarded: On a first-come, first-served basis until they are fully expended.

More information about the program, including how to apply, is available at the Montgomery County Economic Development Corporation website at https://thinkmoco.com/job-creation-fund/.