Connect with our Business Development Experts
Planning to start or grow a business in Montgomery County? Our team of business developers, small and minority business experts, researchers and marketing specialists are here to help you find what you need. As a public/private partnership, we collaborate with County and State officials along with private companies to help connect you to resources, funding, incentives and more.
LYNNE STEIN BENZION
Director of Business Retention & Expansion
MCEDC Supports MoCo Businesses
Jobs created from business retention and expansion
Jobs retained in MoCo
Million in venture capital investment
Connections with Key Employers
Newsletter recipients per month
Public Partnerships and Collaboration
MCEDC partners with County and State officials on incentives, infrastructure, collaborating on Request for Proposals (RFP), Request for Information (RFI) and more. MCEDC works hand-in-hand with County officials to present Montgomery County as a welcoming home for business and innovation. Montgomery County was proud to be among the top 20 finalists for a second headquarters for Amazon. MCEDC worked with public officials to showcase Montgomery County as an ideal east coast location with our innovation through diversity. The work has led to new data and research to directly support our leadership position in key industries, from BioHealth and emerging technology to hospitality, financial institutions and more.
Montgomery County has been our home for more than 60 years. We take immense pride in this community. From our humble roots as a root beer stand in Washington, D.C. to a hospitality company known around the world, we look forward to many years together as we create a new, 21st century home in downtown Bethesda.
Helping Companies Grow with Us
MCEDC works with companies to find the location, resources and incentives to help businesses grow in our prime east coast setting. From Bethesda to Silver Spring, Wheaton to Germantown, many companies have realized the many advantages of growing in Montgomery County. Marriott International is building a $600 million headquarters in downtown Bethesda, scheduled to open in 2022, which will house more than 3,500 employees. Booz Allen Hamilton is expanding in Montgomery County, relocating to a 65,000 square foot facility in Bethesda. Numerous biotech companies are expanding, while retaining their strategic Montgomery County address including Viela Bio (a spinout of MedImmune), Applied Biomimetic and Altimmune. With 18 federal headquarters in the County, including NIH and the FDA, these companies are among a growing number that are choosing to stay, develop and flourish in Montgomery County.
Making the Right Move
Prominent media group WTTG Fox 5 has been in Washington, D.C. for many years – and has plans to move its studio, newsroom and offices to Montgomery County. MCEDC brought together the private and public groups, provided business and market intelligence, and worked with State and County officials to craft an incentive package, including a jobs creation tax credit, to pave the way for the Fox 5 move. MCEDC was an active partner in helping JBG SMITH locate its new corporate headquarters to Bethesda, which has been a strong draw for tenants to its new, high-end class-A office building.
The biotech industry continues its strong growth in Montgomery County. A Bethesda Bio project is developing a premiere life sciences building which will attract a wide-range of companies, and provide much needed wet lab space. MCEDC helped move the project to fruition, one which addresses the shortage of wet lab space and places it near the NIH – while also allowing Montgomery County to compete with other urban markets such as Cambridge in Boston and the East Bay in San Francisco.
The combination of the closest commercial site to NIH and the northern gateway to the Bethesda Central Business district is the perfect location for our Bethesda Bio project.
The MCEDC Sponsorship Program
MCEDC is committed to building sustainable partnerships to further the growth of our target industries including BioHealth, Emerging Technology, Cybersecurity, Financial Services and Advanced Manufacturing, as well as other industries that involve entrepreneurship and innovation. See our Sponsorship section to find out more about partnering with MCEDC.
Team 2018 Success Stories
A Convention, A Connection, A Bio Partnership
Nadia Khan, J.D., Senior Business Development Manager
The annual Bio International Convention brings together more than 1,000 bio companies, academic institutions and other stakeholders. At the 2018 Boston convention, Business Developer Nadia Kahn attended the event with colleagues where she met Abhita Batra, CEO of Otomagnetics, LLC, a dynamic biotech startup. The company was a University of Maryland spin-off start-up in expansion mode, with the CEO sharing that she was looking for wet lab and office space. Nadia connected with colleagues at MCEDC including a few Batra had previously met with – and the team sprung into action to understand the startups current needs including space considerations.
Nadia introduced the company to several developers with available wet-lab space. After expedited tours to prospective facilities, Nadia and colleagues helped connect them to available tax credits and incentives and alerted them to BioHealth Innovation’s Capital Regional Investment Conference, a great forum to find potential financial partners. Throughout the process, Nadia continued to consult with the company to help streamline the process. The company chose space in Gaithersburg, signing a 4-year lease. The partnership helps to continue building Montgomery County’s strong biotech sector.
Turning Ideas into Opportunities for Entrepreneurs
Daniel Parra, Director, of Small and Minority Business
The Woman Builders Group was ready to take their business to the next level – moving from a home-based cleaning company into a professional office space. They turned to our Minority and Small Business Director, Daniel Parra, who helped guide them through the MOVE grant application and approval process, answering all their questions along the way, always with his trademark warmth and smile. He connected them with an apprenticeship program of WorkSource Montgomery to further their employee training development and brought in a team member to be part of our #MoCo365 video campaign.
With a MOVE grant in hand, this woman-owned janitorial and construction cleaning company moved into a great office space in Silver Spring, close to metro and numerous amenities. The company has a staff of 24, with plans to grow 25% within the next year in terms of employment and revenue. Daniel is known for his ability to connect, fill gaps and help entrepreneurs find opportunities. It’s no wonder he was named a 2018 Minority Business Leader by the Washington Business Journal.
A Nonprofit Win for Montgomery County
Lynne Stein Benzion, CEcD, Director of Business Retention & Expansion
The expansion of the Nonprofit Village (NPV) is a win for everyone in Montgomery County, and Business Retention Director Lynne Stein Benzion contributed in multiple ways to the growth of this incubator for nonprofits. NPV first came to MCEDC in March 2017 about their need to move to a new location and upgrade their space. Lynne worked steadily with them for more than a year, when they ultimately signed their new lease in Rockville. She also assisted in helping the nonprofit group hone their business plan and provided a sounding board for their funding strategy.
Our bank indicated that we had the best business plan from a nonprofit that they had ever seen. We attribute that to the strategic planning sessions with MCEDC.
With their newly acquired additional 2,000 SF of rentable space, the Nonprofit Village can continue its mission of bringing together small and emerging nonprofits to share space, host training and offer networking events. Their mission directly aligns with MCEDC’s strategic plan of assisting entrepreneurial efforts. MCEDC also supports NPV’s Duck Pond, a ‘Shark Tank” style competition where nonprofits outline their concept to an expert panel of judges – and Lynne will sit on the competition panel.
Learn more about Nonprofits.
A Major Media Move from DC to Montgomery
Spiros Balntas, CEcD, Director of Business Recruitment
WTTG & WDCA Fox 5 TV Network was considering a move from 5151 Wisconsin Ave. in NW Washington, D.C. to Montgomery County. The company was looking at options: taking up 57,500 SF at either Carr Properties’ Apex building located at 7272 Wisconsin Ave in Bethesda or Washington, D.C., at 88 M Street in Navy Yard. Business Expansion Director, Spiros Balntas, spearheaded the Montgomery County outreach with our County and state partners. Fox 5 selected the Apex building and jump started the momentum to populate one of the most highly acclaimed Class A, mixed-use new builds in Bethesda.
We are thrilled to move our facilities to Montgomery County, MD into what will be a grade A complex developed by Carr Properties and we thank the State of Maryland and Montgomery County for making this possible. This will be a state-of-the-art facility that will keep us in the heart of the Washington, D.C. metro area.
With the addition of the media tenant, 7272 Wisconsin Ave received a strategic economic development project designation to help expedite permitting. MCEDC brought together the private and public groups, provided business and market intelligence, and worked with State and County officials to craft an incentive package, including a jobs creation tax credit, to pave the way for the Fox 5 move.
Following the finalization of the agreement, the 200 employees of the media company will be moving to the new Bethesda location, situated directly on Metro’s Red Line and future Purple Line stations.
Learn more about growing your business in Montgomery County.
Mission: Possible – Amazon HQ2 Proposal Coordination
Nicole Cantarella, Associate Creative Director
As Associate Creative Director in the Marketing Department, Nicole feels fortunate to be involved in numerous creative projects in the MOCO Labs marketing department. One particular project stands out: creating strong proposals to attract Amazon for its second headquarters. In putting together significant proposals for the RFP and subsequent RFI, Nicole was a key collaborator and helped coordinate input from the MCEDC team – business developers, researchers and marketers. Nicole also worked directly with MCEDC partners from the County and state to coordinate the response. She sourced and managed outside contractors to assist in the initiative and ensuring deliverables were submitted on time. She helped to create the visual presentation to maximize impact, gathering and coordinating the various assets that showcase the talent, innovation and diversity of Montgomery County.
Nicole was actively involved in managing a video shoot called “Change the World,” which contributed both to the Amazon initiative and to a subsequent regional ad campaign, which also included print and digital collateral. To be among the 20 finalists for the Amazon HQ2 is very gratifying – and our MCEDC team looks forward to their final (Montgomery County) pick!
Learn more at MoCo Advantage.