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SS/pact.pr 97-60 Contact: David Edgerley, 301-217-2345
COUNTY OFFICIALS, BUSINESS LEADERS
UNVEIL ECONOMIC DEVELOPMENT AGENDA,
ENTER INTO NEW "ECONOMIC PACT" For Immediate Release: March 3, 1997
Montgomery County Executive Douglas M. Duncan and County Council President
Marilyn J. Praisner today teamed up with prominent local business leaders -- including Laura
Henderson, chair of the Economic Advisory Council, and Eileen Cahill, chair of the
Montgomery County Chamber of Commerce -- to present the County's newly produced
Economic Development Agenda for 1997. The group also participated in a signing ceremony
for the "Montgomery County Economic Pact," a document which formalizes a partnership
between the County and the business community to promote the benefits of job creation and
economic growth.
"More than two years ago, when I came into office," said Duncan, "I made it very
clear that growing the tax base -- through business expansion and the attraction of new jobs,
rather than through new taxes -- would be one of my highest priorities as County Executive.
I made no bones about the fact that we needed to drastically change this County's attitude
towards business growth and that we needed to reevaluate the way we conduct our economic
development activities. In today's competitive economic development environment, business
as usual is simply not enough. We must compete aggressively for new jobs and we must
work harder than ever to preserve and nurture the growth of our existing employers."
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ECONOMIC AGENDA, PACT UNVEILED 2-2-2
Council President Praisner added, "The Montgomery County Council has initiated a
number of programs and policies to support and enhance the ability of our businesses to
compete in today's marketplace. We are keenly aware that a growing and prosperous
economy is the key to sustaining the quality of life which our residents and private enterprises
have come to enjoy. Our economic success depends on a partnership between government
and business, educational institutions, non-profit organizations and the community. By
working together, we can meet the challenges ahead."
Also released at a Rockville press conference today were the proceedings of last fall's
successful Montgomery County Business Conference, a forum which shaped the preparation
of the new economic agenda. More than 150 business and community leaders participated in
the one-day conference last October to share their views on economic development and issues
which relate to the business climate in Montgomery County. The conference was co-
sponsored by the Economic Advisory Council of Montgomery County, the Montgomery
County Chamber of Commerce and the Department of Economic Development.
Six major priorities for economic development outlined in the new economic agenda
include:
Create an alliance among government, business and other members of the
community to develop an understanding of the "shared destiny" that links a
healthy growing economy to a quality living environment. Key initiatives
identified, to support this priority, include plans for a Business Week
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ECONOMIC AGENDA, PACT UNVEILED 3-3-3
Celebration this May, sponsored by the Montgomery County Chamber of
Commerce, and the possible establishment of a public/private entity to promote
the benefits of a healthy economy to the community.
Expand on recent efforts to establish and promote Montgomery County as a
preferred business address -- a "Community of Choice" -- for existing
companies and new employers. Key initiatives include a recently established
business visitation program, which involves teams of business and government
leaders visiting up to 400 local companies a year; and the preparation of a
new marketing brochure aimed at presenting a profile of the community.
Leverage Federal, State and local assets to support targeted technology
industries and stimulate growth of promising new firms. Key initiatives include
advancing plans for completion of new infotech/biotech incubator to help
launch small technology firms, and exploring the possible creation of a new
private/public technology investment fund to support companies in targeted
technology industries.
Facilitate business development through an improved regulatory environment,
streamlined land use processes and elimination of non-competitive taxing
policies. Key initiatives include recent reorganization of the County's
permitting process and the conducting of a study to assess the County's
economic trends and its overall business climate.
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ECONOMIC AGENDA, PACT UNVEILED 4-4-4
Leverage County investment in education and workforce development to
provide a flow of trained individuals to meet the current and long-term needs
of businesses. Key initiative includes the establishment of clear, accessible and
user-friendly pathways into the workforce development system for employers
and job-seekers. This effort is being headed by the Workforce Development
Corporation, in conjunction with organizations such as Montgomery College
and the Suburban Maryland High Technology Council.
Encourage Montgomery County companies to provide business opportunities to
small businesses and to minority, female and disabled (MFD) owned firms in
the county. New initiatives would include examining the feasibility of creating
a non-technology business incubator and the development of an "economic
development report card" to periodically track the County's economic
development success and progress.
For more information on the newly developed Montgomery County Economic Agenda
for 1997, contact the Department of Economic Development at (301) 217-2345 (TDD/TTY
217-2342).
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