July 31, 2024

Mixed-use Project to Create Life Sciences Center in Montgomery County

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A major life sciences center at the North Bethesda metro station is on the horizon and will further contribute to Montgomery County as a center of innovation. County Executive Marc Elrich and Washington Metropolitan Area Transit Authority General Manager Randy Clarke signed a Memorandum of Understanding this week. The county, with the support of its congressional and state delegations, will provide infrastructure funding and economic development incentives. The project is anticipated to include approximately 2 to 3.7 million square feet of development of housing, office, retail and public spaces. The University of Maryland’s Institute for Health Computing will anchor the future development.

“By transforming the North Bethesda Metro Station area into a premier life sciences and mixed-use development, we are creating jobs, stimulating our local economy and fostering a vibrant community where people can live, work, learn and innovate,” Elrich said.

Read the full release from Montgomery County here.

Photo Credit: Montgomery County Government

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ABOUT MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION (MCEDC)
Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland, and is funded by the Montgomery County Government. Created in 2015, MCEDC is led by a Board of Directors of business executives. Its mission is to accelerate business development, attraction, retention and expansion in key industry sectors while advancing equitable and inclusive economic growth.