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Economic Development Initiatives

The Economic Development team in the Division of Fiscal Management is responsible for overseeing and administering a variety of programs, contracts and incentives that help to encourage and accelerate economic development projects in Montgomery County.

Economic Development Assistance Programs:

  • Small Business Assistance Program (SBAP)
    • The SBAP is a program established to assist certain small businesses that are adversely impacted by a County-funded redevelopment project or a redevelopment project located on County-owned property, currently focused on the Wheaton Redevelopment Project.
    • SBAP summary stats
  • Impact Assistance Fund (IAF)
    • The IAF is a program that provides financial assistance and/or technical assistance to financially healthy small businesses in designated areas of the County that are adversely impacted by a redevelopment project initiated by the County, on County-owned property, or of a County facility, There are currently designated geographic areas in Silver Spring, Bethesda, and Clarksburg.
    • IAF summary stats
  • Economic Development Fund Grant & Loan Program (EDFGLP)
    • The EDFGLP is a strategic attraction and retention program for projects in targeted industry sectors that generate significant economic development benefits in the County such as job growth/retention, capital expenditure, etc. Project awards stipulate conditions for disbursement and minimum performance measures and include clawback provisions to recapture the funds if a business fails to achieve the expected economic output.
  • MOVE Program
    • The Make Office Vacancies Extinct (MOVE) program is targeted at attracting new businesses to the County in order to reduce vacant Class A and B office space. Businesses new to the County can apply for the program after signing a direct lease for at least three years for up to 20,000 square feet. Upon verification, businesses receive a grant of $8.00 per square foot leased, for a maximum grant amount of $80,000.
  • SBIR/STTR Matching Grant Program
    • The Small Business Innovation Research and Small Business Technology Transfer Matching Grant Program allows Montgomery County companies who have been awarded a SBIR or STTR Phase I or Phase II grant from the National Institutes of Health (NIH) and conduct at least 51 percent of its research & development operations in Montgomery County to apply for a local Montgomery County match. Companies may receive a match of 25%, up to a maximum of $25,000 for a Phase I grant, or a match of 25%, up to a maximum of $75,000 for a Phase II grant.
  • Biotechnology Investor Incentive Program (BIIP)
    • BIIP grants are awarded to qualified investors who receive a final tax credit certificate from the State of Maryland’s Biotechnology Investor Incentive Tax Credit Program. Grants are prorated based on the amount appropriated for the program and portion of an investor’s state tax credits compared to the total state tax credits received by all investors of County biotechnology businesses.
  • Cybersecurity Supplement Program (CSP)
    • CSP grants are awarded to qualified businesses which receive a final tax credit certificate from the State of Maryland’s Cybersecurity Investment Incentive Tax Credit Program. Grants are prorated based on the amount appropriated for the program and portion of the businesses’ state tax credits compared to the total state tax credits received by all qualified businesses in the County.
  • MicroLoan Program
    • Montgomery County created a microloan program that provides loans ranging from $500 to $15,000 for County residents needing additional help to start and grow small businesses. The County has contracted with two experienced microloan providers – Life Asset and Latino Economic Development Corporation (LEDC) – to underwrite and monitor the portfolio of microloans generated through the Microloan Program.
For additional information or to apply for these programs, please visit the Montgomery County Business Portal.

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