FOR IMMEDIATE RELEASE
January 5, 2021

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Kristin O’Keefe
VP of Communications & Marketing
kristin@thinkmoco.com
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Investments Underscore Local Leadership in Global Bio Innovation

Rockville, Md. — While 2020 was most notable for the worldwide pandemic, several Montgomery County, Maryland life sciences companies have played a critical and major role in the development of lifesaving COVID-19 vaccines and treatments that will impact public health and the economic recovery of our local and global community in 2021.

From lupus to Parkinson’s disease, Montgomery County companies are also fighting multiple diseases and saving lives through unparalleled vaccine research, cell and gene therapies and manufacturing capabilities. Local life sciences companies span the gamut from early- and mid-stage to late-stage therapeutics to earn Montgomery County the title of “The Immunology Capital Next to the Nation’s Capital.”

“We’re proud that Montgomery County’s renowned life sciences companies are helping to develop life-saving vaccines and treatments – their work will help us fully reopen all of our businesses and they are key to a future thriving economy,” said Montgomery County Executive Marc Elrich.

Since the start of 2020, almost $8 Billion in federal, private and foundational funding has been invested in life sciences companies with a Montgomery County presence for coronavirus vaccine research and other immunotherapeutic developments. Novavax and Emergent BioSolutions were among the first recipients of federal Operation Warp Speed funding of more than $5.5 Billion to fight COVID-19. An additional $2 Billion in equity and venture capital funding was also invested in Montgomery County companies.

"This year's growth highlights our position as a global life sciences hub and shows why companies are looking to expand their operations in Montgomery County," said County Council President Tom Hucker. "There is real value in locating here next to the nation's capital with nearby access to 18 federal agency headquarters, three major airports and the nation-leading diversity that characterizes our county."

“The significant investments made in Montgomery County over the last year are a recognition of the urgent life sciences needs that are being met through our many local assets,” said Benjamin H. Wu, MCEDC President and CEO. “Companies from around the world are attracted to our highly educated workforce and proximity to NIH, the world’s largest federal researcher, and the FDA, the world’s largest federal regulator. The many accomplishments of our biotech companies make clear that Montgomery County is an immunology capital and a vaccine leader.”

Other important Montgomery County assets include easy access to nearby leading trade associations and top bio talent. MD’s 8th Congressional district leads the nation in the proportion of science and engineering jobs to total workforce. A national report by ITI also found the 8th district’s 52,000 STEM workers are triple the national.

2020 HIGHLIGHTS OF MONTGOMERY COUNTY LIFE SCIENCE ACCOMPLISHMENTS >

ABOUT MCEDC

The Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland. Created in 2016, MCEDC is led by a Board of Directors of business executives. Its mission is to help businesses start, grow and relocate in Montgomery County by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website. Follow us on Twitter, Facebook and LinkedIn.