Montgomery County is increasing its efforts to attract and retain businesses through an updated MOVE Grant Program, as County Executive Marc Elrich announced. The County Council’s recent tweaks to the program mean monetary incentives are now readily available to companies new to the county and those expanding locally. This initiative aims to address the high rates of office vacancies directly. Interested businesses can find application details on the
Montgomery County Business Center website
and should apply within six months of signing a lease.
Highlighting Montgomery County’s robust business growth, Elrich noted that the region added over 1,500 establishments in the two years post-COVID, which he claimed to be the highest rate in the state. “These businesses are looking for space, and the MOVE Program is another economic development tool available to spur business growth in Montgomery County,” he said in a statement obtained by the
Montgomery County, MD website
. By coupling this program with other initiatives, such as the Jobs Creation Fund, Elrich conveyed a strong message that the county has much to offer to businesses at various growth stages.
The MOVE Grant specifically aids businesses that grow by at least 500 square feet, with awards ranging from $8 to $15 per square foot, scaled to the new space leased. Additionally, the program continues incentivizing companies by funding their first lease signing in the county, potentially helping them build their new spaces.
Amidst a landscape of uncertainty in the commercial real estate market, “We are sending a clear message to the business community that Montgomery County is a welcoming destination for relocation and growth,”
County Councilmember Evan Glass
said, emphasizing the county’s commitment to creating a thriving environment for businesses and residents alike. The MOVE grant, now expanded and codified, is seen as a progressive step following a year of dedicated effort by the Economic Development Committee, which hosted panels and work sessions to address the office vacancy issue.
County Councilmember Natali Fani-González echoed these sentiments, recognizing the MOVE program’s success in attracting business and nonprofits. She stressed that the committee “will remain vigilant to the state of the office market and is committed to pursuing more reforms to support our economy.” According to the
Montgomery County, MD website
. The updated grant represents proactive governance and strategic planning to stimulate economic growth in Montgomery County.
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