PROGRAMS AND INCENTIVES TO SPUR BUSINESS GROWTH
We help you navigate available programs, grants and incentives to identify immediate opportunities and plan for long-term success. Check out the very successful MOVE program, small business programs and incentives geared to specific industries.
INCENTIVEs & Funding
Montgomery County Economic Development Grant and Loan Program
Financial assistance to private employers that retain jobs or stimulate new job creation in Montgomery County. Priority is given to high technology companies, manufacturing companies, businesses in urban revitalization areas, and other private employers that provide the greatest public benefits.
Montgomery County MOVE Program
Businesses new to the county that lease up to 20,000 square feet of Class A or B office space may receive a grant of $8/sf. All grants are capped at 10,000 square feet for purposes of calculating the grant award.
Please Note: The Montgomery MOVE program has assisted 18 businesses with MOVE program grants between July 1, 2017 and January 31, 2018. Reminder that companies need to apply for funding within 90 days of signing a lease.
Being in one of the most educated, commuter-friendly and culturally rich business centers of Montgomery County will greatly accelerate the continuing growth and success of L-Soft...
The Maryland Technology Development Corporation (TEDCO) is an independent organization and one of Maryland’s leading sources for entrepreneurial business assistance and seed funding for the development of startup companies. Find funding, mentoring and networking opportunities.
TEDCO today announced $1 million in new economic development funds that will provide startup technology companies with investment capital to help cover the gap between seed funding and venture capital investments.
Venture Capital Funding in Montgomery County
Venture Capital funding is taking off in Montgomery County, Maryland, with over a half billion dollars in investment within the first two quarters of 2018 – larger than the annual total of any year in the past five years. Local investment is on the rise as we support our innovative thinkers to start, grow and expand in the County. Find out more about Venture Capital resources in the County.
Montgomery County Small Business Revolving Loan Program
Small businesses can benefit from direct loans or participation in loans made by other financial institutions to small businesses in the county. Primarily targeted to small businesses with gross revenues of less than $5,000,000 annually and fewer than 75 employees, with certain eligibility requirements.
Small Business Plus!
A unique collaboration between Montgomery County and community banks headquartered in the County, the program promotes job growth through small business lending and earning competitive rates of return for the County on investment. $50 million in County funds are invested in participating community banks with $100 million lent to local small businesses to further promote new jobs. Read more about participating banks and eligibility requirements.
Maryland has announced new Opportunity Zones, with 14 census tract areas identified in Montgomery County including parts of Silver Spring, Wheaton, Gaithersburg and White Oak. The Opportunity Zones allow investors to receive federal tax incentives to invest in and help redevelop underserved areas.
The U.S. Treasury Department program will be administered locally by the MD Department of Housing and Community Development with support from MD Department of Commerce.
Montgomery County businesses have access to a variety of tax credits and exemptions designed to encourage investment in targeted geographic areas or industries and to support business growth in the County. LEARN MORE >
EQUITY INVESTMENT PROGRAMS
The Dingman Center Angels connects regional start-up companies seeking seed and early-stage funding with angel investors.
Maryland Venture Fund direct investments in technology and life science companies.
MSBDFA Equity Participation Investment Program (EPIP) provides equity investment in socially or economically disadvantaged businesses.
Maryland Momentum Fund – The University System of Maryland (USM) has launched an early-stage investment fund to increase new company creation and commercialization of its leading-edge research. Must be a Maryland-based company and other eligibility requirements apply.
TEDCO Exploratory Research Grants program – A popular Biohealth incentive that attracts and supports investigators who are new to the stem cell field (young investigators and those from other fields), especially open to new models and creative thinking.
Once a company receives a TEDCO grant, Montgomery County adds a $25K Life Science Impact Grant, for businesses based on the county.
Maryland Biotechnology Investment Incentive Tax Credit (BIITC) – Provides an income tax credit equal to 50% of an eligible investment in a Qualified Maryland Biotechnology Company (QMBC) up to $250,000 for each QMBC per fiscal year.
On top of this incentive tax credit, there is the add on Montgomery County Biotechnology Investor Incentive Program, a supplemental grant available to investors in biotechnology companies located in the county. Automatically given to investors who receive the MD State tax credit.
Development Impact Tax Exemption: Life sciences companies constructing new facilities are exempt from the County’s development tax; this exemption can be worth millions in savings, depending on square footage.
Life Sciences Center Zone Development Bonus: In the County’s Life Sciences Center zones, the sq. ft. of space in a new project used exclusively for mechanical equipment is excluded from the project’s maximum density calculation.
Systems Development Fee Exemption: The local water authority can waive the fee imposed on the sanitary/water fixtures in a new biotechnology or manufacturing project for up to $50,000/year per project.
Green Credits and exemptions
Rainscapes Rewards – Rebates up to $10,000 for commercial property owners installing rain gardens and conservation landscaping, planting trees and implementing other projects that help control stormwater pollution. Property owners are also eligible for on-going credits against their Water Quality Protection Charge.
Fuel Energy Tax Exemption for Onsite Clean Energy – Electricity generated through onsite solar installation is exempt from the County’s Fuel Energy Tax, which applies to fossil-fuel generated electricity and other building fuels.
Green Certifications and resources
Green Business Certification Program – A voluntary recognition program to encourage businesses and other organizations to take steps that reduce their ecological footprint. Certified businesses are listed in the Green Business Directory.
Green Bank – Increases investment and implementation of energy improvements across all sectors in the County. The Bank will use its seed capital to spur private capital investment, provide unique programs to target and open up new markets to energy-saving investments.
Tree Montgomery – Free shade trees are available to commercial property owners to manage storm water, improve air quality, save energy and beautify property.
The State of Maryland Business Assistance Program – A searchable database including loans, grants and venture capital opportunities.
Maryland Funded Tax Programs for Businesses – Specialized financing and incentive resources for small businesses, veteran-owned businesses and minority and women-owned businesses.
Maryland Industrial Development Financing Authority is a great resource to find financing and other important information.
Montgomery County’s Department of Permitting Services has many resources to help customers find information faster.
MCEDC is a great resource to help you identify potential resources that may be new to you. We are here to help you find incentives, grants and loans available. CONNECT WITH US >