2024’s Top Business Stories in Montgomery County, Md.
As we start the new year, let’s take a look back at some of the biggest MoCo business stories from 2024.
AstraZeneca Announces $300M Investment in Montgomery County, Md.
The life sciences industry in Montgomery County, Md., continued to thrive thanks to the long-term commitment to growth by industry leaders such as AstraZenca, MilleporeSigma, United Therapeutics and many others. In 2024, AstraZeneca announced its plans to invest $300 million in a new state-of-the-art manufacturing facility in Montgomery County. This Rockville site will cover 84,000 square feet and add 150 jobs in addition to the company’s current Germantown facility, which focuses on global research and development.
photo credit: Scheer Partners
Tech & Space Industry Invest in Montgomery County
With over 90,000 technology workers in the county and access to federal agencies like NIST and NCCoE, it’s no surprise that more than 6,000 technology companies call Montgomery County home and are continuing to grow. 2024 saw Rockville-based Quantum Space receive a $1 million grant from the Maryland Department of Commerce to develop the state’s first spacecraft engineering facility dedicated to satellite constellation manufacturing.
Maryland’s Montgomery County – Home to Thriving Life Sciences Ecosystem
For an industry to flourish, there must be an ecosystem to support growth. In Montgomery County, Md., this starts with our real estate partners, who worked throughout 2024 to make connections and find solutions. MCEDC, Minkoff Development, VaLogic Bio (fka Facility Logix) and JLL sat down with WTOP to discuss life sciences growth in the region, future trends and what makes the county a prime location for business.
National Nonprofit Day Highlights the Work of Local Agencies
Aug. 17 marked a day of recognition for the important work of nonprofits in Montgomery County, Md., and across the nation. With proximity to the nation’s capital, federal lawmakers and other major nonprofits, more than 5,300 nonprofits with budgets over $1 million choose to make their home in MoCo. Learn more about the impact nonprofits like the Howard Hughes Medical Institute (HHMI), the Henry M. Jackson Foundation for the Advancement of Military Medicine (HJF), KABOOM!, KID Museum and the Children’s Opportunity Alliance have on MoCo, the nation and the international community.
BioHub Maryland Opens Rockville Workforce Training Center
On Oct. 24, 2024, BioHub Maryland opened the doors to the Training and Education Center in Rockville, Md. The center offers hands-on technical training featuring globally trusted curricula from the National Institute of Bioprocessing Training and Research (NIBRT), an international leader in biopharmaceutical manufacturing training and research. This valuable resource will benefit the long-term growth of the life sciences industry in Montgomery County and the region.
Institute for Health Computing Celebrates Second Anniversary
Located in North Bethesda, the University of Maryland Institute for Health Computing (UM-IHC), is part of Maryland’s thriving life sciences sector, which strategically positions it to foster collaborations with leading biotech companies and federal agencies, including the NIH, FDA, and National Institute of Standards and Technology (NIST). IHC celebrated it’s second anniversary with a ribbon cutting and research showcase, sharing that it has established 10 industry partnerships, published over 150 scientific papers, submitted two patents and 26 grant applications, and launched its first spin-off company. IHC is currently collaborating with industry leaders like AstraZeneca, 20/20 Gene Systems and United States Pharmacopeia as well as federal partners like the Food and Drug Administration (FDA) and National Institutes of Health (NIH).
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