Local Businesses Take Advantage of Montgomery County’s MOVE Grant
There are dozens of incentives and programs available to help businesses thrive in Montgomery County, Md. For example, take the newly updated Make Office Vacancy Extinct (MOVE) Grant Program, which helps local businesses establish and expand in Montgomery County.
Available to both new and existing businesses in the county, this unique incentive allows qualified companies signing a commercial lease to receive up to $150,000 in grants for a new office space.
In the second quarter of 2024, the office vacancy rate in Montgomery County was 18.7 percent1. The MOVE grant aims to lower this and according to recent data, it is moving the needle. Recent data shows that:
- 43 businesses have moved to or expanded within Montgomery County over the last eight months.
- Through the MOVE grant, a total of 55 employers were able to create new jobs; helping grow our local economy.
- Of the businesses that have already received MOVE grants, 52% are start-ups, 37% are new to Montgomery County, and 11% are expanding their operations within the county2.
Incentives like the MOVE grant program are one of the many county-offered programs that sets Montgomery County apart and makes this an ideal destination for businesses to start, expand, or relocate. The grant is also evidence of a successful approach to diversifying the local economy and addressing office vacancies.
1 CoStar
2 Montgomery County Economic Development (ECON) Committee