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Department of Economic Development: Smart Smart

The Department of Economic Development in Montgomery County, Maryland promotes business growth and workforce development. It assists companies in business attraction, retention and expansion, providing services like site selection assistance and streamlined permitting. The department also supports small businesses and minority-owned businesses through mentorship programs. Montgomery County has a robust economy with over 500,000 employed people and is home to world-class research agencies and technology companies in aerospace, biotech and software.

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29 views

Department of Economic Development: Smart Smart

The Department of Economic Development in Montgomery County, Maryland promotes business growth and workforce development. It assists companies in business attraction, retention and expansion, providing services like site selection assistance and streamlined permitting. The department also supports small businesses and minority-owned businesses through mentorship programs. Montgomery County has a robust economy with over 500,000 employed people and is home to world-class research agencies and technology companies in aerospace, biotech and software.

Uploaded by

Planning Docs
Copyright
© Attribution Non-Commercial (BY-NC)
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Download as PDF, TXT or read online on Scribd
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Department of Economic Development 

SMARTPeople. SMARTBusiness. 
Montgomery County 
Department of Park and Planning (C.A.C) 
Presented by Raul Medrano 
Business Development Specialist 
(240) 777.2077 ­ Direct Line 
[email protected] 
July 10, 2007
Gateway to the Region’s Robust 
Federal & High­Tech Marketplace 
§  Home to world­class federal research & regulatory agencies including: 

§  Located at the epicenter of the Mid­Atlantic’s thriving marketplace: 
§  2 hours or less by air from 60% of the U.S. & Canadian population 
§  3 major airports offering 475 weekly non­stop flights to 34 destinations 
in 29 foreign countries 
Home to dynamic industry leaders:

7/11/2007  Department of Economic Development  2 
Economic Development Vision 

Foster a growing, diversified and 
innovative economy, providing 
opportunity and prosperity for businesses 
and residents alike, while sustaining the 
County’s quality of life.

7/11/2007  Department of Economic Development  3 
Economic Development Mission 
•  Create quality jobs within the County 
•  Increase the County’s economic base 
•  Preserve agricultural land within the 
County 
•  Market and Promote the County 
nationally and internationally
7/11/2007  Department of Economic Development  4 
Strategic Programs & Services 
•  Business Development (Retention, Expansion and 
Attraction) 
•  Innovative Business Incubator Network 
•  Workforce Development Solutions 
•  Small & Minority Business Services 
•  Marketing and Promotion 
•  Financing & Tax Credit Programs 
•  Agricultural Services & Preservation
7/11/2007  Department of Economic Development  5 
Business Development 
•  Attraction, Retention and Expansion Efforts 
–  During FY06, (DED) assisted 156 businesses who remained in or 
expanded into more than 3.346 million s.f. of office space, resulting in 
the retention and projected creation of over 7,600 jobs 
•  Site Location Assistance 
•  Streamlined Permitting 
•  Strategic Tradeshows & Welcoming missions both 
nationally and internationally

7/11/2007  Department of Economic Development  6 
Empowering Small & Minority Owned 
Businesses 
§  Award­Winning Mentorship Program 
§  Local Small Business Reserve Program 
§  Maryland Small Business Development 
Center Network 
§  New Business Empowerment Initiative 
& Manager 
§  SCORE – Retired Industry Executives 
Resource 
§  Small Business Outreach/Advocacy 
§  Targeted Networking/Training Events

7/11/2007  Department of Economic Development  7 
Our Growing Economy… 
•  December 2006:  514,559 people employed 
•  Unemployment rate of 2.6% 
•  Highest per capita income in the State 
•  Highest median household income in the State 
•  15th highest ranked per capita income in the nation 
•  Highest Percentage of Ph.D.s of any major 
jurisdiction in the U.S. 
•  67% of workforce has technical or advanced degrees

7/11/2007  Department of Economic Development  8 
Germantown Business District 
SMART FACTS: 
•  One of the County’s Top Five Most 
Populous Planning Areas in 2005 
(Pop. 79,580) 
•  30% of the population has 
Bachelor’s Degree and 26% have 
Master’s or Higher 
•  2.7 million SF of rentable office 
space in 46 buildings 
•  591,000 SF of flex­space, about 14% 
of the County’s inventory 
•  SMART Transit: Commuter Transit 
Center, MARC Train Station, 
Proposed Corridor Cities Transitway 
(CCT) 
•  SMART Amenities:  Montgomery 
College Campus, Germantown 
Business Innovation Center, 
Germantown Town Center, Black 
Rock Center for the Arts, New! 
Germantown Library, Germantown 
SoccerPlex & Aquatic Center and 
Retail & Restaurants

7/11/2007  Department of Economic Development  9 
Germantown Corporate Profile
Advanced Technology
• Aerospace Engineering
• Communications (satellite, wireless, internet,
electronic device & measurement testing)
• Biotechnology
• Government Contractors in (IT) industry or
Project Management Services
• Research & Development (Software, Biotech
and Engineering)

7/11/2007  Department of Economic Development  10 


Germantown Corporate Profile
Needs & Issues
• Workforce and Education: Challenged w/ retaining and
attracting sufficient engineers and advanced degree
talent

• Commercial Space: Preference for flex-space, Class-A


(Trophy Space) office space is appealing as companies
grow and seek major footprint in the region

• Amenities: Need for Conference Room space, More


Hotel Options, Local Commuter-Trolley to connect
GermantownTown Center, (CCT) is very appealing

7/11/2007  Department of Economic Development 11 


Business Innovation Network 

Since 2000, the Montgomery County 
Business Incubator Network has graduated 
40 companies who have since created over 
1,500 jobs and lease over 300,000 sf of 
commercial office space in the County.

7/11/2007  Department of Economic Development  12 


Germantown Science & Technology Park 
Montgomery College & 
UMCP Science & Technology Park 
•  Germantown Innovative Technology 
Center 
•  Attraction of BioTech and Innovative 
Technology Companies 
Bioscience Education Center 
•  Adjacent to Science & Technology Park 
•  Future home of the UMCP BS in Life 
Sciences 
•  State­of­the­Art Laboratories and 
Facilities (Academic & Private) 
THE VISION…. 
•  To develop a continuum of bioscience and 
technology education and training from 
middle school to post­doctoral levels in an 
integrated academic, business and research 
environment.
7/11/2007  Department of Economic Development  13 
Business Innovation Network 
3 Existing Facilities: 
§  Maryland Technology Development Center – 
County’s 1 st  Incubator facility opened in 2000 
§  Silver Spring Innovation Center – Opened in 
Downtown Silver Spring in 2004 
§  Wheaton Business Innovation Center – Opened  MTDC 
June 2006 

2 Opening Soon: 
§  Rockville Innovation Center – Opening mid­ 2007 in 
the heart of the new Rockville Town Center 
(Internationally focused) 
§  Germantown Innovation Center – Opening late 2007 
on the Montgomery College Germantown Campus 
(Biotech focused) 

SSIC
7/11/2007  Department of Economic Development  14 
Our Workforce Strategy 
•  Create and maintain a well prepared, educated, and 
adaptable workforce to meet the current and future 
needs of employers in Montgomery County. 

•  MontgomeryWorks is a service of the Montgomery 
County Department of Economic Development and 
the Maryland Department of Labor, Licensing and 
Regulation.

7/11/2007  Department of Economic Development  15 


Suggested INNOVATIVE Reading…
• Medici Effect, By Frans Johansson
Breakthrough Insights at the Intersection of Ideas, Concepts & Cultures
• The World is Flat, By Thomas L. Friedman
The unplanned cascade of technological and social shifts that effectively
leveled the economic world, and “accidentally made Beijing, Bangalore and
Bethesda next­door neighbors.” …
• A Whole New Mind: Why Right­Brainers Will Rule the
Future, By Daniel Pink
The era of “left­brain” dominance, and the Information Age that it
engendered, are giving way to a new world in which “right­brain”
qualities­inventiveness, empathy, meaning­predominate.

7/11/2007  Department of Economic Development 16 


SMART People. SMART Business. 
We’re your SMART Choice. 

www.montgomerycountymd.gov/ded 
Thank you – Muchas Gracias

7/11/2007  Department of Economic Development  17 

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