Author: Montgomery County Economic Development Corporation

To the State of Maryland, quantum computing may be its next power-tool for growth and investment. The global quantum technology market size is expected to reach $198 billion by 2040 according to McKinsey & Company, and the last several years have proven that Maryland and Montgomery County are setting the pace for the quantum race. In January 2025, Maryland Governor Wes Moore announced a $1 billion investment over the next five years aimed at strengthening Maryland’s position as a quantum technology leader, and as the state’s largest county with a thriving technology sector, Montgomery County is primed to be the epicenter of the “Capital of Quantum.”

Montgomery County is home to several quantum pioneers, including Rockville-based Quantum Space, and Bethesda-based companies Fasoo, Quantum Exchange, and TISTA Science & Technology Corporation. The County sits within one of the nation’s most research-dense corridors, neighboring the University of Maryland, which will soon boast Microsoft’s new Quantum Research Center at the University’s Discovery, and a collection of federal agencies, including the National Institute of Standards and Technology (NIST) and the National Cybersecurity of Excellence (NCCoE), that have long driven advances in physics, engineering, and advanced computing. This concentration of expertise, along with an abundance of talent of more than 29,000 Computer and Mathematics Professionals and 67,000 high-technology workers in the area, has helped attract companies specializing in quantum hardware, software, and networking technologies. (more…)

Montgomery County plays a central role in the Capital Region’s role as the nation’s third-largest biopharma cluster, according to a recent national industry ranking. The Capital Region, which includes Montgomery County along with surrounding jurisdictions in Maryland, Washington, D.C., and Northern Virginia, was ranked third among U.S. biopharma hubs in Genetic Engineering & Biotechnology News’ 2025 Top 10 U.S. Biopharma Clusters report, reflecting the scale of the region’s life sciences ecosystem, workforce, and concentration of research institutions and companies.

Montgomery County serves as the anchor of the region’s biopharma ecosystem, home to more than 350 life sciences companies and a large share of the region’s research, development, and manufacturing activity. Global pharmaceutical and biotechnology companies including AstraZeneca, Novavax, and United Therapeutics have a significant presence in the County, contributing to its role as a national center for drug development, vaccines, and advanced therapies. (more…)

Over 50 local companies were awarded $7.5 million from Montgomery County last year, demonstrating the Government’s core priority in further supporting its thriving entrepreneurial ecosystem. The funded projects range from off-the-shelf CAR T Cells that target solid tumors to nanophotonic imaging platform for in vivo imaging, advanced microelectronics for spacecraft instrumentation, high-energy-density capacitors for defense and space, and sustainable bio-fungicides from natural products to combat fungal diseases.

“The Technology Innovation Fund exemplifies Montgomery County’s commitment to supporting genuine innovation with its flexibility and risk tolerance,” said Sanhe Hu, founder of EasyCloudScale, a recipient of the Technology Innovation Fund. “This support has enabled EasyScaleCloud to rapidly iterate through multiple product concepts at controlled costs—validating what works and pivoting when needed—while building the foundation to create high-skill technology jobs that will contribute to the County’s growing tech ecosystem.” (more…)

Montgomery County attracted a series of corporate expansions and relocations over the past year, signaling continued business growth despite federal budget cuts that challenged local economies across the region. Long recognized as the #3 largest biopharma cluster in the nation, and a hub for technology, defense, advanced satellite communications, and national headquarters, the County continued to appeal to established employers seeking to expand operations and create high-paying jobs.  

Among the year’s most significant announcements was AstraZeneca’s announcement of a $2 billion investment in the state of Maryland, including the expansion of its operations in Montgomery County by building a state-of-the-art clinical manufacturing facility in Gaithersburg. The project follows the company’s $300 million cell therapy manufacturing site that opened in Rockville last spring and is expected to generate 100 new jobs while expanding its research and development presence. Nuclear technology developer X-energy also deepened its commitment to the County, consolidating two Rockville offices into a new 125,000-square-foot headquarters in Gaithersburg. The company plans to retain 260 employees and create more than 525 high-skilled positions over the next six years.   (more…)