The Montgomery County Economic Development Corporation’s (MCEDC) mission is to attract, retain, and expand businesses across key industry sectors in Montgomery County, Maryland. Working in tandem with local and state government, industry, and community partners, we demonstrate the County’s economic competitiveness and ensure businesses have the support, resources, and connections needed to grow here. MCEDC is a 501(c)(3) nonprofit public-private partnership funded by the Montgomery County Government.
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…)