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Move / Build Incentives

Summary of Progress

The MOVE program has attracted 26 new businesses to Montgomery County that collectively absorbed 103,176 square feet of office spaces, and added 187 jobs with a projection of another 343 new jobs over the next three years. The space filled to date is roughly the equivalent of the Executive Office Building!

MOVE

MOVE is a new business attraction tool available to companies who are leasing commercial office space in Montgomery County for the first time. Businesses new to the County’s office market receive a one-time grant of $8/square foot, up to a maximum of 10,000 square feet of Class A or B office space, or lab space.  The subsidy is available to companies in any industry (except for retail or restaurant establishments). The goal of the program is to attract new companies to the County  while reducing the office vacancy rate.

Contact the Montgomery County Department of Finance for additional information and an application (240-777-8860).

BUILD

BUILD is a new initiative under the Montgomery County Economic Development Fund designed to spur construction projects and turn vacant or old properties into tax revenues in the County. BUILD provides tax abatements for Class A office and hotel construction projects in Montgomery County for projects of at least 25,000 square feet (of either new or expansion space). Through this program, approved property owners receive an annual grant payment (lasting 10 years) equivalent to 25% to 50% of the additional real property taxes generated by the new development. Details on the application process will be available soon. Contact the Montgomery County Department of Finance for additional information and an application (240-777-8860).

 

 

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