Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

March 6, 2025

A Second Opportunity to Join the Conversation About Germantown’s Future Thursday, March 13

A Second Opportunity to Join the Conversation About Germantown’s Future Thursday, March

On February 19, more than 60 people joined a community conversation about the future of the Germantown town center, hosted by the Gaithersburg-Germantown Chamber of Commerce with support from a grant from Montgomery County.

The event will run from 6-8 p.m. at the arts center located at 12901 Town Commons Drive. If you can’t attend, you are invited to complete a brief survey to share your input.

February 6, 2025

Germantown Visioning Workshop Planned for Wednesday, Feb. 12

Germantown Visioning Workshop Planned for Wednesday, Feb. 12

Mark your calendar for the Germantown Visioning Workshop from 6-8 p.m. on Wednesday, Feb. 12 at the BlackRock Center for the Arts.

The Gaithersburg-Germantown Chamber of Commerce has grant funding to determine the feasibility of a Business Improvement District or Urban District in Germantown and they need the public’s help to craft the vision, mission and core values that will guide the future of the town center in Germantown.

Montgomery County Park and Planning will also be on hand to share information on the upcoming Germantown Sector Plan Amendment study, which will kick off soon. Visit Montgomery will share information on the Brand Rural Montgomery Initiative.

Register today!

January 23, 2025

Deadline Approaching for $10 Million in Grants to Support High-Growth Small Businesses

Deadline Approaching for $10 Million in Grants to Support High-Growth Small Businesses

Are you an early-stage Montgomery County technology or wholesale product manufacturing entrepreneur?    Check online to see if you are eligible to apply for the Technology Innovation Fund or the Founders Fund for commercialization grants to help you grow your business.    Applications for both funds now are open and will be accepted until 5 p.m. on Friday, Jan.31. These new funds offer a combined $10 million in commercialization grants to spur economic development and create equitable opportunities for growth and prosperity.

About the Founders Fund

The $3 million Founders Fund offers grants of up to $100,000 to early-stage entrepreneurs from historically underrepresented communities who face systemic barriers to accessing capital. Eligible applicants must demonstrate how their proposed commercialization project will drive their business growth.

About the Technology Innovation Fund
 
The $7 million Technology Innovation Fund will provide grants of up to $200,000 to early-stage businesses developing proprietary technology with high growth potential. Funds will support commercialization projects that bring innovative products closer to market, helping businesses to achieve significant milestones.

To learn more about the Technology Innovation Fund and Founders Fund and to apply, visit https://www.fedtech.io/accelerators/mcg. If you have any questions, email MontCtyMD@fedtech.io.   


November 26, 2024

Technology Innovation and Founders Funds Will Provide $10 Million in Grants to Support High-Growth Small Businesses in County

Technology Innovation and Founders Funds Will Provide $10 Million in Grants to Support High-Growth Small Businesses in County
Montgomery County Executive Marc Elrich has announced the launch of two groundbreaking funding programs designed to support innovative small businesses and underrepresented entrepreneurs. The Technology Innovation Fund and the Founders Fund will offer a combined $10 million in commercialization grants to spur economic development and create equitable opportunities for growth and prosperity.

Applications for both funds are now open and will be accepted from Tuesday.  Dec. 10 until Friday, Jan. 31, 2025. To learn more about the Technology Innovation Fund and Founders Fund and to apply, visit https://www.fedtech.io/accelerators/mcg.

“These programs reflect Montgomery County’s commitment to fostering innovation and equity in our economy,” said County Executive Elrich. “The Technology Innovation Fund and Founders Fund are designed to help groundbreaking businesses overcome barriers, scale up and succeed. We are investing in the ideas and entrepreneurs that will shape the future of our County.”

The $7 million Technology Innovation Fund will provide grants of up to $200,000 to small businesses developing proprietary technology with high growth potential. Funds will support commercialization projects that bring innovative products closer to market, helping businesses achieve significant milestones.

The $3 million Founders Fund offers grants of up to $100,000 to early and growth-stage entrepreneurs from historically underrepresented communities who face systemic barriers to accessing capital. Eligible applicants must demonstrate how their proposed commercialization project will drive their business growth.

Eligibility for the Founders Fund will be assessed using Montgomery Planning’s Community Equity Index and Maryland’s Minority, Female, and Disabled-Owned Businesses (MFD) Certification tools.

To ensure a fair and unbiased review process, applications will be evaluated by FedTech, an independent third-party organization with expertise in connecting innovative technologies to commercial markets. To further enhance their chances of success, awardees will also receive up to two hours of coaching and technical support from FedTech.

Montgomery County is partnering with the Montgomery County Economic Development Corporation to facilitate the promotion and selection process. If funds remain after the first round, a second application round will open in Spring 2025.

For questions about the grants, contact MontCtyMD@fedtech.io.

August 28, 2024

Office of Procurement and Department of Finance to Launch New Vendor Registration System on Monday, Sept. 2


The Montgomery County Office of Procurement and Department of Finance will launch a new vendor registration system on Monday, Sept. 2. The Montgomery County Vendor Registration System (CVRS) is the one-stop registration system for anyone who is interested in doing business with or receiving payments from the County. The new CVRS will replace the current system and will be used to register businesses and individuals who receive payments for providing services to the County or recipients of grants and other forms of payment.

Notice of the change was recently mailed to active vendors in the system.

Vendor registration:
  • Vendors who are registered in the old CVRS before Sept. 2 will have their vendor information copied to the new system.
  • No action is required by existing vendors unless they need to update their information (e.g., address, contacts, certifications, etc.). If an update is required, vendors must visit https://www.montgomerycountymd.gov/vendorregistration beginning Sept. 2 and follow the instructions.
  • Updating account information will require creating a new account and linking the vendor’s profile from the old system
  • New vendors (businesses or individuals) will need to create an account and register their vendor information on https://www.montgomerycountymd.gov/vendorregistration beginning Sept. 2.

July 10, 2024

County Economic Development Organization Launches Redesigned Website That Includes 12 Interactive Dashboards


The Montgomery County Economic Development Corporation (MCEDC) has launched a newly redesigned website—thinkmoco.com—with improved overall functionality that allows for an enhanced user experience. The revamped website is a key component of MCEDC’s ongoing efforts to strengthen its brand, increase user engagement and boost its digital presence to better serve business clients, partners and stakeholders. The new website includes 12 interactive dashboards.

MCEDC is the official public-private economic development organization representing Montgomery County and is funded by the County Government. Created in 2015, MCEDC is led by a board of directors of business executives. Its mission is to help businesses start, grow and relocate in the County by helping them gain access to top talent, business resources, market intelligence and prime locations.

“Our website acts as a digital gateway to MCEDC’s support of business attraction, retention and expansion in Montgomery County and we believe the redesigned site will be an even more valuable resource to support our business objectives,” said MCEDC President and CEO Bill Tompkins. “The refreshed site will help us communicate our mission and vision more effectively and reach targeted audiences for economic development—showcasing why Montgomery County is the premier location for businesses to thrive.”

Features of MCEDC’s redesigned site include:
  • Interactive Dashboards: Twelve dashboards provide visualizations of key industry metrics, supporting business prospects and partner agencies seeking data and more detailed information about Montgomery County.
  • Extensive Resource Library: Allows users to easily search and filter through a comprehensive collection of resources to support their businesses.
  • Refined Incentives Page: Allows users to search available incentives in the County based on multiple categories and industries.
  • Improved User Experience: An intuitive experience with navigation that makes it easier to retrieve information.
  • Modern Aesthetic: A fresh, contemporary look that reinforces the MCEDC brand, while delivering a visually appealing experience.
  • Mobile Optimization: A more responsive design that provides a seamless and consistent browsing experience across all devices, so that users can access information on the go.
For more information, visit thinkmoco.com to explore the new site.

June 5, 2024

Fourth Annual Children’s Business Fair in Rockville on Aug. 10 Will Ignite Entrepreneurial Spirit of Today’s Youth

Young Montgomery County entrepreneurs will again have a chance to show their creativity, business sense and sales ability by developing and displaying products for the Fourth Annual Montgomery County Children's Business Fair that will be held on Aug. 10 in Rockville Town Square. The event is open to youngsters ages 6-15.

Applications to be part of the event are due by Saturday, June 15. Applications and more information about the event can be found at www.mocochildrensbusinessfair.org. A $25 fee is required for accepted entries.

The event in Rockville Town Square is free to attend.

During the fair, the young entrepreneurs will have the opportunity to win cash awards in the following categories:
  • Innovative idea
  • Best presentation
  • Best sales pitch
A panel of judges that will include representatives of the local business community and celebrity influencers will assess the presentations.

Participants are responsible for the setup, sales and interacting with customers. Parents are restricted from interacting with customers. If seen selling to customers or promoting the child’s product, the participant will be disqualified from the competition. The goal is to give the participants real world business experience.

“Today’s youth are tomorrow’s business innovators and leaders,” said Tameka Montgomery, founder of Raising Entrepreneurs Podcast and the Montgomery County Children’s Business Fair. “The Montgomery County Children’s Business Fair ignites their entrepreneurial spirit and gives them a head start on cultivating the skills and mindset to be the next generation of changemakers.”

For more information about the children’s business fair, visit www.mocochildrensbusinessfair.org or email info@mocochildrensbusinessfair.org.

March 27, 2024

Businesses Looking to Grow Through Exports Can Benefit Through ExportMD Grants

Businesses Looking to Grow Through Exports Can Benefit Through ExportMD Grants

Maryland businesses looking to grow through exports can seek customers, suppliers, manufacturers or academic partners in travel that may be supported through a Maryland Department of Commerce ExportMD Grant. The program, which can provide reimbursement for up to $5,000 for eligible expenses, is accepting applications through April 1 for travel in May. 

Traditionally, many companies use the grants to offset travel expenses related to international marketing. However, the funds can be applied for other marketing initiatives including website development, registration costs for virtual trade shows and missions.

Montgomery County is organizing a delegation of business, academic and government leaders to travel in May to BIOKorea in Seoul (May 8-10) and to several cities in China the following week. Delegation members will meet with potential business prospects and other potential partners.

To join the group with the potential support of a Maryland Export MD grant, an application for the grant must be submitted by April 1. The application process is multi-day. Companies interested in submission by April 1 should, as soon as possible, email Maryland Department of Commerce Regional Manager for East Asia, Hui-Min Tzeng at hui-min.tzeng@maryland.gov. 

For more information regarding the May economic development mission to Korea and China, email BusinessCenter@MontgomeryCounty.Md.gov.

March 13, 2024

BioTech and Life Sciences Business and Brad L. Stewart of Montgomery Economic Development Are Featured in Newest ‘What’s Happening MoCo’ Podcast

 

Montgomery County’s Economic Develop Corporation’s (MCEDC) Senior Vice President Brad L. Stewart joined the latest episode of the What’s Happening MoCo podcast, which is now available. The episode centers on biotech and life sciences business in the County.

Mr. Stewart shared his career journey and provide insight into the County’s biotech and life sciences industry and will talk about the growth of AstraZeneca and United Therapeutics in the region.

To hear the interview and gain some tips for local entrepreneurs, listen to the What’s Happening MoCo podcast via a podcast platform including Apple Podcasts Spotify, Amazon Music (ask Alexa to play the What’s Happening MoCo podcast), iHeartRadio, TuneIn and others. The video version of the podcast can be viewed on the What’s Happening MoCo Facebook page or on County Cable Montgomery, Xfinity Channel 996, RCN 1056 or Verizon 30.

Mr. Stewart is a serial biotech entrepreneur now working to grow Montgomery County’s economy, which approaches $100 billion per year and is the leading economic driver of Maryland. When asked about what attracts large businesses to set up in the County, he said, “Talent. You have to have a nexus with people with the skills necessary to work in those companies.”

He went on to say the County’s proximity to the nation’s capital and major life sciences institutions also contribute to the value of doing business in Montgomery County.

Residents and others interested in asking a question or suggesting a topic to be addressed in a future episode are encouraged to engage via the Facebook page, group or via e-mail at derrick.kenny@montgomerycountymd.gov.

In past episodes, podcast host Derrick Kenny has addressed a wide variety of subjects. The show’s guests have included elected officials, Montgomery employees who specialize in specific aspects of government, business leaders and entertainers who live in the County. New podcasts are released twice a month.

The What’s Happening MoCo podcast episode archives can be accessed by visiting the podcast’s webpage.

Department of Environmental Protection and Bethesda Green Relaunch Green Business Certification Program

Montgomery County’s Department of Environmental Protection (DEP) has relaunched its Green Business Certification Program, a voluntary recognition program designed to encourage businesses and other organizations to take steps to reduce their environmental footprint.

This program is a continuous sustainable journey where businesses achieve recognition through tiers, such as Bronze, Silver, Gold and Platinum, by implementing and documenting their green practices. The program is now managed by Bethesda Green, a local nonprofit organization dedicated to promoting sustainable business and living practices.

“Through the Montgomery County Green Business Certification Program, we are empowering local businesses to embrace sustainability demonstrating that economic success and environmental stewardship go hand in hand,” said Montgomery County Executive Marc Elrich. “Bethesda Green’s experience with helping eco-entrepreneurs develop and grow for-profit businesses makes them uniquely positioned to manage the Green Business Certification Program and take it to the next level.”

The mission of the Green Business Certification Program is to:
  • Empower businesses to green their operations through the provision of tools, incentives, inspirational ideas, collaboration and leadership opportunities.
  • Encourage local consumers and other businesses to consider Certified Green Businesses when making purchasing decisions.
  • Create a supportive community of business leaders to share best practices and learn from each other.
  • Provide equitable access to all businesses seeking certification.
The Green Business Certification Program, originally established to recognize and support businesses committed to environmental sustainability, has been revitalized to better serve the evolving needs of the County’s business community.

“The Green Business Certification Program is designed to empower and inspire small businesses across Montgomery County to embrace sustainability and drive positive change,” said County DEP Director Jon Monger. “It’s exciting to be leveraging Bethesda Green’s expertise and resources to relaunch this terrific program.”

The program will offer enhanced resources, support, and recognition to businesses striving to reduce their environmental impact and contribute to a more sustainable future.

“We are honored to collaborate with Montgomery County DEP and the Green Business Benchmark to build upon the legacy of promoting sustainability in Montgomery County,” said Bethesda Green Executive Director Dave Feldman. “The Green Business Benchmark is a sustainability management platform that helps businesses integrate and accelerate sustainability practices. Together, we look forward to supporting businesses in their journey to a greener, more prosperous future.”

Businesses interested in obtaining Green Business Certification can learn more and apply through the Green Business Certification website.

February 7, 2024

AstraZeneca to Expand Manufacturing Operations in Rockville

AstraZeneca leased a building in Rockville and will invest $300 million in the new manufacturing facility.
(Courtesy AstraZeneca)


Maryland Governor Wes Moore this week announced that AstraZeneca, a global science-led biopharmaceutical company, is establishing a new manufacturing facility in Rockville. The company is investing $300 million in a state-of-the-art facility located at 9950 Medical Center Dr., where it will launch its life-saving cell therapy platforms in the U.S. for critical cancer trials and future commercial supply.

The new facility, expected to be fully operational in 2026, will also lead to recruitment for approximately 150 new employees focused on an array of cutting-edge technologies to deliver life-saving cell therapies. Additionally, AstraZeneca plans to retain 4,500 employees at its other facilities throughout Montgomery County.

“AstraZeneca and the State of Maryland share a deep commitment to innovation. It makes us the perfect pairing for this next-generation cell therapy facility,” said Gov. Moore. “This significant investment in our life sciences sector will help maintain Maryland’s leadership in the industry and sharpen our competitive edge. We are deeply grateful for AstraZeneca’s partnership and continued commitment to our state.”

The 84,000 square-foot space will initially focus on the manufacturing of CAR-T cell therapies to enable cancer clinical trials to be conducted around the world. Over time, the site may expand its focus to support other disease areas.

“Manufacturing is an area that many people do not associate with Montgomery County, but we are aggressively pursuing more manufacturing opportunities and hope for more successes like we are witnessing with AstraZeneca,” said Montgomery County Executive Marc Elrich. “AstraZeneca’s decision to invest and build its CAR-T therapy manufacturing operation in Montgomery County affirms our role as a global leader in cell therapy and related technologies. We are excited about their plans to locate this facility here, expanding jobs and adding to the important work thousands of AstraZeneca employees already do here in the county every day.”

To assist with project costs, the Maryland Department of Commerce is working to approve a $500,000 conditional loan through the Advantage Maryland program. Montgomery County is planning to provide a $100,000 conditional grant through its Economic Development Fund. The company is also eligible for various other incentives, including the More Jobs for Marylanders program and the state's Job Creation Tax Credit.

“We are incredibly excited that more than 150 new highly skilled jobs are being created to bring our scientific work and therapies to clinical trials which could transform the lives of patients around the world,” said AstraZeneca Executive Vice President of Global Operations & IT and Chief Sustainability Officer Pam Cheng. “This new $300 million investment will accelerate our ambition to make next-generation cell therapy a reality, ensuring that we are ready to scale and meet the demands of patients.”

The new facility in Rockville is located less than five miles from one of the company’s five global research and development centers and sits within Montgomery County’s booming life sciences corridor. With close proximity to several universities, the location provides an attractive place for ongoing talent recruitment. This site will become part of the AstraZeneca global supply network of nearly 30 manufacturing and supply sites in 16 countries which are either currently operational or under development.

"Montgomery County is at the epicenter of cell and gene therapy, anchoring the third largest life sciences hub in the U.S.,” said Montgomery County Economic Development Corporation President and Chief Executive Officer Bill Tompkins. “We are home to innovation and life-saving treatments that make a positive global impact. And we are thrilled that AstraZeneca continues to grow and invest in new technologies here in Montgomery County, which will ultimately lead to greater economic viability for our region. We join Governor Moore, County Executive Elrich, and all of our partners and stakeholders in congratulating AstraZeneca for their continued expansion.”

AstraZeneca focuses on the discovery, development, and commercialization of prescription medicines in oncology, rare diseases, and biopharmaceuticals, including cardiovascular, renal and metabolism, and respiratory and immunology. Based in Cambridge in the United Kingdom, AstraZeneca operates in more than 100 countries and its innovative medicines are used by millions of patients worldwide. To learn more, visit astrazeneca.com.

January 24, 2024

Burtonsville Celebrates Grand Opening of Sprouts Farmers Market


Montgomery County Executive Marc Elrich, County Councilmembers Evan Glass and Kristin Mink and Sprouts Farmers Market representatives joined community members on Jan. 19 at the formal ribbon cutting to mark the grand opening of Sprouts Farmers Market in Burtonsville. The project has been in the making since 2018 when County Executive Elrich engaged with community members as part of the "Build a Better Burtonsville" initiative.

Also attending the ceremonies were Victor Vasquez, Sprouts 921 Store Manager; David Germakian, EDENS managing director; and Ken Flemmer, East County Citizens Advisory Board.

Sprouts Farmers Market is located at 15793 Old Columbia Pike in Burtonsville.

Participants gathered at the store entrance to celebrate the opening, which has been a long-awaited project for Burtonsville.

"Montgomery County welcomes Sprouts to the Burtonsville Shopping Center,” said Marc Elrich. “For the past 10 years, the absence of a major retailer in Burtonsville Crossing has been felt strongly, and I am pleased that Sprouts has chosen our community for its newest location, emphasizing our commitment on redevelopment and improving residents' quality of life. This will be the first Sprouts in the Metro Washington area, making it a destination for shoppers along I-95, Route 198 and Route 29, with the potential to draw people from far and wide. Sprouts has a great reputation for providing fresh and healthy grocery offerings with impeccable customer service. They are a strong anchor for the Burtonsville Crossing Shopping Center and an important addition to our East County community.”

The White Oak Science Gateway Master Plan was approved and adopted in 2014, ending a more than 20-year moratorium on development and creating opportunities for significant developments and transformations in the East County. Plans also are in the works to expand transportation options and increase affordable senior housing.

While progress on those broader goals continues, the opening of Sprouts was a significant step.

The State Board of Public Works played a pivotal role in supporting the redevelopment, providing $3.5 million in funding dedicated to the Burtonsville Crossing Shopping Center.

State Senator Craig Zucker and Delegates Anne Kaiser, Bernice Mireku-North and Pamela Queen, the District 14 legislative delegation, actively advocated for the funding.

“We are very excited to see this grand opening and the positive transformation of this shopping center,” said State Senator Zucker. “We are happy that the State money we helped secure is being invested to benefit the community.”

Along with County Executive Elrich, the County Council has strongly supported economic development in the East County.

"I'm thrilled that Sprouts has recognized Burtonsville as the perfect location for their newest market,” said Councilmember Mink. “This community-oriented company is bringing jobs and healthy food options to our residents. I've already met with Sprouts leadership, who look forward to partnering with local farmers, as well as schools and community-based organizations in District 5, and I'm looking forward to launching those efforts together." 

The arrival of Sprouts will create a new phase in Burtonsville's transformation. The County also thanks EDENS, a major real estate company, for helping Sprouts come to the area.

“We are excited to see the next chapter of Burtonsville Crossing unfold. ‘Sprouts’ grand opening marks the beginning of a new era for this shopping center, as we continue to welcome a diverse mix of national, local and community-focused businesses,” said Mr. Germakian. “Through this revitalization, we are delivering a welcoming destination with robust offerings where the community can gather and engage.”

Through Sprouts’ Food Rescue program, the store will donate groceries that are no longer fit for sale, but remain edible and nutrient rich, to Capital Area Food Bank, a local food bank that provides wholesome food to families and individuals at risk of hunger.

The store will be open daily from 7 a.m. until 10 p.m. For more information and to sign up to win a pre-opening gift card, visit https://www.sprouts.com/store/md/burtonsville/old-columbia-pike/.

Sprouts, headquartered in Phoenix, is one of the largest and fastest-growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 31,000 team members and operates more than 400 stores in 23 states nationwide.

Montgomery Companies Had Strong Year of Investment in 2023

Montgomery County companies had a strong year of investment in 2023, with more than $2.2 billion generated through more than 100 deals. Companies in a wide range of industries, from life sciences and technology to manufacturing and real estate, brought in substantial investments, showcasing a positive economic direction going into 2024.

Life sciences companies in Montgomery County continue to be a powerful driver of investment, with more than $500 million generated in 2023. Montgomery County anchors the thriving Biohealth Capital Region, which rose from No. 4 to No. 3 in the top 10 of U.S. biopharma clusters.

“By many measures, 2023 was a very good year for the Montgomery County economy and I applaud the successful efforts of the Montgomery County Economic Development Corporation,” said County Executive Marc Elrich. “We are expanding our economy by building on our strengths as well as opening our doors to new opportunities. We are better equipped to address challenging issues, and we are making progress. This was reinforced during our economic development trips to Taiwan, India, and Vietnam last year. People, around this nation and throughout this world, know Montgomery County, Md., as a welcoming and diverse place with a wealth of talent and plenty of possibilities. I am looking forward to more economic success in 2024.”

Recent highlights for Montgomery County’s ongoing life sciences success include:
  • Deka Biosciences closed $60 million to continue developing drugs for patients suffering from cancer and autoimmune diseases.
  • Welcoming Amgen through a $28 billion acquisition of Horizon Therapeutics, which is now building its North American technical center in Rockville.
  • The impact of two life science leaders and soon-to-be neighboring companies: MilliporeSigma and Horizon Therapeutics, Together, they represent more than $500 million invested in new facilities.
  • Selecta Biosciences merging with Cartesian Therapeutics, which included a $60.25 million private financing deal for Cartesian.
“Deka Biosciences has grown exponentially as part of Montgomery County’s Business Innovation Network,” said Deka president and CEO John Mumm. “We wouldn’t be where we are without them. They have completely enabled us to grow faster than I’ve ever grown a company before,” he explained about the incubator facility.

Nine companies in the manufacturing sector received funding in 2023, including MasPanadas, a home-grown success story. With a recent influx of investment, MasPanadas is in the process of building a space that will triple its square footage to 18,000, while adding another 70 employees.

“Our company continues to thrive here with exceptional growth in annual sales and our client base including having our products in national grocery chains,” said Margarita Womack, founder of MasPanadas. “Montgomery County has been a great partner providing connections to programs, tax credit assistance and funding. We are excited about our growth and expansion plans.”

Another highlight in the manufacturing arena is Eat the Change, which received a $14 million venture capital investment. Co-owner Seth Goldman, who is also co-founder of PLNT Burger and Honest Tea, said: “Downtown Bethesda may not be Silicon Valley or Route 128, but with its active startup community and experienced workforce, it has served us well as the perfect location to launch and scale a mission-driven tea brand . . . twice! Our success with Honest Tea helped us launch Just Ice Tea in 90 days, and then close our Series A $14 million financing in just 60 days. Just Ice Tea, a product of mission-based Eat the Change, is now the nation’s top-selling organic tea brand and we look forward to continued expansion into mainstream channels.”

Technology leaders continue to thrive in Montgomery County, with close to 50 companies receiving funding. Companies include Quantum Xchange, GivHero, and Aledade. Rockville-based N5 Sensors received $2.5 million in funding for its proprietary cloud-connected ecosystem of smart sensors to keep people safe from environmental hazards. N5 Sensors’ CEO Abhishek Motayed said the company has grown from seven people to more than 25 in its three years in Montgomery County.

Montgomery County is a welcoming home to businesses with a diverse economy, top talent pools, access to funding and anchored by major federal agencies including the National Institutes of Health (NIH), the Food and Drug Administration (FDA) and the National Institute of Standards and Technology (NIST).

“The robust investment in Montgomery County companies is a testament to our pioneering spirit, diversity, and exceptional climate for business growth,” said Bill Tompkins, president and CEO of Montgomery County Economic Development Corporation. “While the country as a whole has experienced a downturn in funding, investments in Montgomery County businesses, especially in life sciences, continues to be strong.”

To learn more about doing business in Montgomery County, go to thinkmoco.com or the Montgomery County Business Center. See the full list of 2023 investments in Montgomery County companies here.

January 17, 2024

Maryland Businesses Looking to Expand Overseas Partnerships Can Apply for ExportMD Grants by Feb. 1; Cybersecurity Event to be Held Jan. 25

Maryland Businesses Looking to Expand Overseas Partnerships Can Apply for ExportMD Grants by Feb. 1; Cybersecurity Event to be Held Jan. 25

Maryland businesses looking to grow through partnerships with organizations overseas can seek supporting customers, suppliers, manufacturers or academic partners through a Maryland Department of Commerce for an ExportMD Grant. The program, which can provide reimbursement for up to $5,000, is accepting applications through Feb. 1.

Traditionally, many companies use the grants to offset travel expenses related to international marketing. However, the funds can be applied for other marketing initiatives including website development, registration costs for virtual trade shows and missions.

Montgomery County is organizing a delegation of business, academic and government leaders to travel to Taiwan to attend the 2024 Smart Cities Conference. Delegation members will meet with potential business prospects and other potential partners. To join this group and apply for an ExportMD grant, submit an application by Feb. 1.

For more information or to receive a copy of the application, email the Maryland Department of Commerce Regional Manager for East Asia, Hui-Min Tzeng, at hui-min.tzeng@maryland.gov.

The Maryland Department of Commerce also will provide up to 20 hours of market research to help businesses identify customers, suppliers, manufacturers or academic partners in Taiwan. To take advantage of these opportunities, submit a Work Order Form by Feb, 1. For more information or to receive a copy of the application, email Hui-Min Tzeng at hui-min.tzeng@maryland.gov.

Businesses can help themselves in another way by attending a networking lunch and cybersecurity session on Jan. 25 in Rockville.

Attendees will learn best practices in Data Security and Privacy at the NCCoE Cybersecurity Connections Event at the National Cybersecurity Center of Excellence (NCCoE), The center is located at 9700 Great Seneca Highway in Rockville.

Speakers at the event will include local government leaders, Montgomery County Executive Marc Elrich, the County’s chief information security officer, NIST representatives and industry experts. They will share information regarding new guidance on preventing and recovering from data confidentiality events, best practices in data security and privacy, including specific use cases, such as ransomware events. The moderator will be Bill Fisher, a cybersecurity engineer with NIST. ​

The event is free. However, preregistration is required. To register, go to Cybersecurity Connections Event and Networking Lunch: Data Security and Privacy | NCCoE (nist.gov).

The event is sponsored by Montgomery County Economic Development Corporation on behalf of Montgomery County.

January 3, 2024

Maryland Minimum Wage Increased to $15 on Jan. 1

All Maryland employers had to pay their hourly employees a minimum wage of $15 per hour starting Jan. 1. This requirement stems from the enactment of Maryland Senate Bill 555 (SB555), also known as the Fair Wage Act of 2023, which was signed into law by Maryland Governor Wes Moore on April 11, 2023.

With most Montgomery County-based employers already required by County law to pay a minimum wage rate of $15 or more per hour, the new State law will apply to Montgomery County employers with 10 or fewer employees who must raise employee wages from $14.50 to $15 per hour beginning Jan. 1.

Montgomery County Executive Marc Elrich championed the County’s minimum wage law when he was a County Councilmember, leading two successful efforts to raise the County minimum wage. Montgomery County’s current minimum wage law went into effect on July 1, 2018. It phased in higher minimum wage rates for large, mid-sized and small businesses. Under the provisions of the County law, the minimum wage rate was scheduled to go to $15 for small businesses on July 1, 2024. The increase for small businesses is now accelerated as a result of the new Maryland law.

“We applaud Governor Wes Moore’s efforts to help all Marylanders,” said County Executive Elrich. “The minimum wage is ultimately about working people being able to earn enough to put a roof over their heads, feed their families and not have to choose between food on the table and medical visits. I want to thank Governor Moore for making this one of his earliest priorities. I was glad to testify on behalf of the legislation, and I support this important State-wide legislation.”

On July 1, 2023, the County minimum wage increased to:
  • $16.70 per hour for large employers (those with 51 employees or more).
  • $15.00 per hour for mid-sized employers (11-50 employees).
  • $14.50 per hour for small employers (1-10 employees).
Employers in Montgomery County are obligated to comply with the State or County’s minimum wage, whichever is higher. Therefore, large employers in the County are required to continue paying their employees a minimum wage of $16.70 per hour.

County minimum wages rates starting July 1, 2024, have not yet been set. If adjustments to the rates are mandated, County law requires the changes to be based on the Consumer Price Index for all urban wage earners and clerical workers in the Washington region from the preceding year.

For additional details regarding the minimum wage in Montgomery County, visit www.montgomerycountymd.gov/minimumwage.

September 27, 2023

New Podcast ‘Something to Talk About’ Focuses on County Business Successes, Community Leaders and Economic Growth

New Business Podcast ‘Something to Talk About’ Focuses on County Business Successes, Community Leaders and Economic Growth

Montgomery County Economic Development Corporation (MCEDC) has launched its new podcast, Something to Talk About. Hosted by award-winning journalist Bob Levey and business leader Kelly Leonard, the podcast will feature top Montgomery County business leaders sharing their successes, advice for other businesses, County resources and reasons why thousands of businesses call Montgomery County home.

Each guest will bring an interesting business perspective and offer ‘something to talk about’ for the community. The podcast is produced in collaboration with Montgomery Community Media (MCM), an MCEDC partner that provides strong community resources for content contributors, among its many offerings.

The podcast is available directly on the MCEDC website at MCEDC — Montgomery County Economic Development Corporation (thinkmoco.com). It also will be available through PodBean and the Google and Apple podcast sites, among other media outlets.

In the first episode, MCEDC President and CEO Bill Tompkins sits down with the co-hosts to talk about the assets of the County, MCEDC’s support for growing businesses and his own personal story.

“I’m excited for our team to launch this podcast to help reinforce to the public that Montgomery County is a great place to do business,” President Tompkins said. “Our podcast will bring special guests to the platform and help businesses gain insights to grow in our County.”

A future Something to Talk About podcast will feature Jasmine White, MCM’s CEO, sharing the many ways MCM can be a powerful tool to help businesses and individuals produce their own podcasts and provide other content distribution resources. Another upcoming interview will be with Scott Copeland, president, CEO and owner of online news source MoCo 360, formerly known as Bethesda Beat and Bethesda Magazine. He talks about the importance of local journalism for and about the community, and why his family was inspired to start a school for multi-sensory education.

Suggestions for a topic for a future podcast guest or general questions/comments can be sent to podcast@thinkmoco.com.

The Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County. Created in 2016, MCEDC is led by a board of directors of business executives. Its mission is to help businesses start, grow and relocate in Montgomery County by helping them gain access to top talent, business and market intelligence and prime locations.

August 16, 2023

Maryland Sales Tax Holiday Continues Through Saturday, Aug. 19

Shoppers in Maryland can continue to save by not paying the State sales tax of six percent on qualifying clothing and footwear priced $100 or less through midnight on Saturday, Aug. 19. The first $40 of back/bookbag sales also qualify.

“Clothing or footwear” means an article of apparel designed to be worn on or about the human body, states the definition from the Office of the Maryland Comptroller. “Accessory items” include, but are not limited to, jewelry, watches, watchbands, handbags, handkerchiefs, umbrellas, scarves, ties, headbands and belt buckles.

The exemption applies to each qualifying item selling for $100 or less, regardless of how many items are sold at the same time. For example, if a customer purchases two shirts for $80 each, both items qualify for the exemption, even though the customer’s total purchase price ($160) exceeds $100.

If a retailer offers discounts to reduce the price of an eligible item to $100 or less, the item will qualify for the exemption.

More details about the program can be found at Tax_Free_Week_Facts.pdf (marylandtaxes.gov).

Unprecedented Three-Pronged Approach to Funding Neighborhood Revitalization Launched With $3.7 Million for White Oak Façade Improvement Initiative

The Montgomery County Department of Housing and Community Affairs (DHCA) has launched a unique, three-pronged approach to neighborhood revitalization by combining State and County funding, along with a financial commitment from local businesses and property owners, to kick-off a community improvement initiative in White Oak. The White Oak Façade Improvement Initiative is public-private partnership that will combine an estimated $3.7 million to enhance and modernize an aging commercial area along a stretch of Lockwood Drive at New Hampshire Avenue.

The goal of the project is to make highly visible improvements that will address physical and economic decline in the area to attract more consumers and foster economic growth.

The façade improvement program will benefit approximately 10 businesses. The initiative will help fund improvements to the exteriors of the façades, new signage, new lighting, possible streetscape enhancement, installation of new planting materials and site work including parking lot resurfacing and striping.

“Many of these small businesses don’t have the resources to make improvements, so this money will help people upgrade their properties and try to create more positive image for the area,” said Montgomery County Executive Marc Elrich. “We have been really clear about our willingness to reinvest. I know the East County region has long felt neglected, but they are the site of the BRT lines and Montgomery College is planning to open a campus over there, beginning with an education center which will open in the spring of 2024. Three commercial developments that were stalled—Burtonsville Crossing, the Hillandale Gateway on New Hampshire and the White Oak Town Center—are moving now. So, we have demonstrated we are willing to put money in. We are willing to work with partners to get these projects moving, and we are going to continue to do that.”

DHCA Director Scott Bruton said the façade project will continue the efforts to improve economic development in the White Oak area.

“This is the first time we have enacted a three-pronged approach utilizing investments from County, State and property owners to facilitate community improvements,” said DHCA Director Bruton. “Once construction is complete, the County will require an easement to be placed on the property for a term to ensure that all improvements are maintained for the duration of the easement. The neighborhood revitalization section under DHCA is delighted to use our façade improvement program to improve the physical structures and economic potential of this East County community and other East County communities in the future.”

State Senator Will Smith and District 20 Delegates Lorig Charkoudian, David Moon and Jheanelle Wilkins presented a check for the White Oak Façade Improvement Initiative on Aug. 13, marking a $500,000 commitment from the State.

“This represents an opportunity that we’ve seized upon to invest in East County and District 20, a historically under invested portion not only of our district but in the county at large,” said Senator Smith. “What this will do and what we will continue to do is unleash economic opportunity, create a safer and more welcoming environment, and infuse new energy, new money and new people into this portion of the district. So, it’s a delight that we’ve been able to do this, bringing State money home.”

Delegate Wilkins was instrumental in securing the $500,000 State Legislative Bond Initiative for the White Oak project.

"The District 20 Team is proud to secure record investments in the White Oak area,” said Delegate Wilkins. “This $500,000 investment reflects our commitment to this vital area of our district and the partnerships necessary to bring additional growth to White Oak.”

Delegate Lorig Charkoudian said the initiative will fund enhancements to reinvigorate a community.

"Our team is so excited to help the White Oak Facade Improvement Initiative come to fruition. These funds will breathe new life into the area and create an inviting space for community members and visitors alike," said Delegate Charkoudian.

Delegate Moon said the initiative extends beyond the façade improvements slated for the White Oak commercial area with more investment projects for East County on the horizon.

“We do have annual bond funding that is available to the District 20 legislative team, and we are making a specific proactive and concerted effort that you will start to see a larger share of this money moving into the East County and the northern part of our district which I think is entirely appropriate for the need,” said Delegate Moon.

Montgomery County Councilmember Kristin Mink said the funding will create newfound attention and spirit in East County.

“All of that is coming in thanks to our D20 team, the County Executive and his team,” said Councilmember Mink. “We are truly on the cusp of exciting things happening here in East County, and we are seeing it in these tangible investments. We want to make sure that the whole County and beyond is seeing that this is a place where things are happening, where people are investing.”

The $3.7 million in public-private partnership contributions include:
  • County: $1,983,333 (53 percent)
  • State Legislative Bond: $500,000 (14 percent)
  • Property/Business Owners: $1,244,667 (33 percent)
Eligibility for participation extends to property and business owners on the south side of Lockwood Drive, ranging from an Exxon gas station located at 11177 Lockwood Drive to the Public Storage Property at 11315 Lockwood Drive.

Children’s Business Fair Returns to Downtown Rockville on Saturday, Aug. 19

The Third Annual Montgomery County Children’s Business Fair will return to Rockville Town Center from 11 a.m.-2 p.m. on Saturday, Aug. 19, to display the works and ideas of more than 55 young entrepreneurs. The event is free to attend and open to the public.

The fair is back after a three-year hiatus due to the COVID-19 health crisis. The event was founded Tameka Montgomery of the Raising Entrepreneurs Podcast and a senior executive at the U.S. Small Business Administration.

“Today’s youth are tomorrow’s business innovators and leaders,” said Montgomery. “The Montgomery County Children’s Business Fair ignites their entrepreneurial spirit and gives them a head start on cultivating the skills and mindset to be the next generation of changemakers.”

The fair presents the young entrepreneurs with opportunities to win cash awards in the categories:
  • Innovative idea
  • Best presentation
  • Best sales pitch
Awards will be determined by a panel of judges composed of local business representatives and celebrity influencers.

August 9, 2023

Small Businesses Along Purple Line Construction Route Encouraged to Apply for Phase III Purple Line Construction Impact Grants

Small Businesses Along Purple Line Construction Route Encouraged to Apply for Phase III Purple Line Construction Impact Grants


Montgomery County will be offering funding support for independently owned and operated businesses with 20 or fewer employees impacted by the Purple Line construction through Phase III of its Purple Line Light rail grants program. Eligible businesses can start submitting applications on Aug. 15.

The County’s Business Center will host informational webinars on the program on Aug. 29, 30 and 31 in English, Spanish, and Amharic languages respectively at 8070 Georgia Ave. in Silver Spring. This is the third round of grants through which the County’s Business Center will offer $5,000 to qualifying small businesses in the construction corridor. This grant program is made possible through an $815,000 grant provided by the Maryland Department of Commerce.

“Our small businesses in the Purple Line Light Rail construction corridor have been hit hard due to the ongoing project,” said Montgomery County Executive Marc Elrich. “We have worked very closely with them to mitigate the challenges they are facing through support such as these grants. Our new Business Center staff will be proactively reaching out and making sure every eligible business in this corridor is aware of this grant opportunity. I appreciate the work of our Business Center as well as the efforts of the Moore Administration and County’s State Delegation to advocate for these businesses and provide this grant funding.”

Applications for Phase III grants will be accepted through Sept. 30. The application is available at http://Montgomerycountymd.gov/business.

A business may be eligible for grants through the program if it:
  • Is registered and in good standing with the Maryland State Department of Assessment & Taxation (SDAT).
  • Has suffered revenue loss due to the construction of the Purple Line Light Rail project.
  • Has a physical location adjacent to the construction of the Purple Line Light Rail project.
  • Has 20 or fewer employees.
  • Is independently owned and operated.
  • Did not receive a prior Purple Line grant during Phase I or Phase II of the grant program.
  • Is not a subsidiary of another business.
  • Is not dominant in its field of operations.
Applicants will be required to submit the following documents with their application:
  • A government-issued ID (e.g., Driver’s license or passport) of the business owner.
  • A completed business W-9. If you do not have a W-9 form, there will be a link to download the template on the application portal.
  • Proof of good standing from Maryland Business Express, which you can check at https://egov.Maryland.gov/BusinessExpress/EntitySearch/Search.
  • The business must register in the County’s Central Vendor Registration System at www.mcipcc.net.
Businesses are encouraged to apply, even if they do not have all this information readily available. The County’s Business Center staff will assist all businesses throughout the process to ensure every eligible business receives this support.

The Maryland Department of Commerce is providing the funds to help businesses that have been impacted by the longer than anticipated construction process.

“Maryland Commerce is pleased to work with our partners in Montgomery County to offer these grants, which will provide some relief to the many small businesses in the County impacted by the Purple Line construction,” said Maryland Commerce Secretary Kevin A. Anderson. “Small businesses are the foundation of Maryland’s economy, and we want to ensure they have the support they need, particularly as they address these challenges.”

Questions about the program should be sent to Derese.Bikila@montgomerycountymd.gov or BusinessCenter@montgomerycountymd.gov.