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
New incentives from the county: The county has just approved additional incentives for the MOVE program, an innovative program designed to attract new businesses to Montgomery County.
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.
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.
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.
The County business tax credit programs website provides a range of information on available tax credits and incentives. Certain incentives are set aside for non-profits, such as expansion at hospitals or private schools.
New Jobs Tax Credit – Promotes job and construction growth throughout the County.
Enterprise Zone Tax Credit – Encourages growth in Long Branch & Takoma Park, and Wheaton and Gaithersburg.
Individual Tax Credits – Includes renewable and green tax credits.
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.
Tax and Fee Exemptions
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.
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.
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.
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.
LICENSING & PERMITTING SERVICES
Find what you need for permitting, licensing, and fire code compliance through Montgomery County’s Department of Permitting Services. From code information, electrical and deck inspections to zoning, DPS has many resources to help and is helping customers find information faster with its robust eServices capabilities. To get up to speed on eServices, they offer Monday morning e-training.
U.S. SMALL BUSINESS ADMINISTRATION
SBA LINC tool – locate potential lenders for small business growth and development.
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 >