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Montgomery County Executive Marc Elrich Announces MOVE Grants Now Available to Businesses Expanding or Moving to the County

For Immediate Release: Thursday, November 14, 2024

Montgomery County Executive Marc Elrich today announced the launch of the updated MOVE Grant Program to reduce office vacancies in the County. The County Council recently modified the program to award funding to companies expanding in the County and to businesses signing their first leases in the County.  

Businesses must apply within 180 days of signing a new or expanded lease. Applicable businesses are encouraged to read more on the Montgomery County Business Center website. Businesses can apply for a MOVE grant here. 

"Montgomery County grew by more than 1,500 establishments during the last two years coming out of COVID – the highest rate of business growth anywhere in our state," said County Executive Elrich. "These businesses are looking for space, and the MOVE Program is another economic development tool available to spur business growth in Montgomery County. Utilizing this program alongside our recently announced Jobs Creation Fund and other programs, Montgomery County has a lot to offer our businesses at many stages of growth." 

Details about the updated MOVE Grant Program:  

  • Provides funding to businesses growing by at least 500 square feet of office space in Montgomery County.  
  • Eligible businesses will receive an award of $8 to $15 per square foot of the expanded space, depending on the total amount of new space leased in Montgomery County.  
  • The program continues to award businesses funding for signing their first lease in the County.  
  • Companies frequently use this type of funding to help build out their new space. 

"The recent election has created tremendous uncertainty in the commercial real estate market in Montgomery County and across the national capital region. Combined with already high office vacancy rates, we are sending a clear message to the business community that Montgomery County is a welcoming destination for relocation and growth," said County Councilmember Evan Glass, lead sponsor of the MOVE Act. "If we strive to be a place where residents can live, work and raise a family, we need to support our business community and create opportunities for everyone to thrive in Montgomery County." 

The MOVE grant was designed to help spur economic development by encouraging new businesses to move to the County, but it now offers the added incentive for established businesses to remain in the County and expand their footprint. 

"The launching of the updated MOVE program is one of the tangible results of the year-long effort by the Economic Development Committee to tackle the concerning rise in vacant office space," said County Councilmember Natali Fani-González. "Last fall the committee held a panel discussion with commercial real estate experts and followed that up with a series of work sessions in winter and spring to better understand the nature of the vacancy problem and identify practical and cost-effective solutions. The MOVE program has a proven track record of attracting businesses and nonprofits to the County, so it makes a lot of sense to codify and expand it. The committee will remain vigilant to the state of the office market and is committed to pursuing more reforms to support our economy." 

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Release ID: 24-517
Media Contact: Gene Smith 240-777-8827
Categories: Business, Executive Office, Grants