For Immediate Release: Thursday, April 11, 2024
The Make Office Vacancy Extinct “MOVE” Act will expand grants for businesses to move and expand their businesses in Montgomery County
ROCKVILLE, Md., April 11, 2024—Members of the Economic Development Committee will hold a press conference on Monday, April 15 at 1:00 p.m. to announce the introduction of legislation to codify the Make Office Vacancy Extinct (MOVE) grant program into law. Spearheaded by Councilmember Evan Glass, the bill is being co-led by Economic Development Committee Chair Natali Fani-González and Councilmembers Marilyn Balcombe and Laurie-Anne Sayles.
The legislation would make the MOVE program a permanent component of the Economic Development Fund, providing an annual incentive for businesses to relocate to Montgomery County and utilize vacant office space. The legislation would also expand program eligibility to businesses already located in the county that want to expand their office space. The legislation also removes the 20,000 square footage cap to qualify for the program and increases the maximum funding award from $80,000 to $150,000.
In FY23, the MOVE program supported 22 companies across a variety of industry sectors that leased a total of 92,720 square feet.
Who: Councilmembers on the Economic Development Committee, business leaders, and commercial real estate professionals
What: Press conference to introduce bill to help businesses
When: Monday, April 15 at 1:00 p.m.
Where: The Preserve office building, 2600 Tower Oaks Blvd, Rockville, MD 20852
Members of the media must RSVP by Monday, April 15 at 8 a.m. by emailing [email protected].
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Release ID: 24-138