Author: Montgomery County Economic Development Corporation

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…)