From the Office of Council President Evan Glass:
Today, Montgomery County Council President Evan Glass announced a roadmap for economic development to promote equitable policies that prepare the County for long-term success. The plan outlines immediate next steps to reduce barriers for small and minority-owned businesses, expand the County’s life sciences industry, attract and retain more Fortune 500 companies and close the racial wealth gap.
“Whether it’s attracting Fortune 500 companies from around the country, retaining the businesses that already call Montgomery County home, or simply making it easier to do business here, there is a lot more we can do,” said Council President Glass. “Moving this economic roadmap forward is crucial to ensuring that Montgomery County residents of all income levels feel financially secure.”
“Montgomery County needs to focus on our local economy in order to better compete in the global economy. By cutting red tape and streamlining our processes, we will further open our doors to residents and businesses from around the region and the world.”
The economic roadmap, created in consultation with leaders of large and small businesses, economic development partners, residents and other stakeholders addresses long-standing issues facing economic development in the County and proposes solutions for improvement.
The economic development proposal includes:
- Creating a new Economic Development Committee: The newly formed committee will elevate economic development issues, focus on growing the business sector and improving economic outcomes for all segments of the community;
- Cutting red tape and easing regulatory compliance: Accelerating and streamlining the review process for commercial development and review business codes with the goal of easing regulatory burdens;
- Review of the Business Advancement Team activities: The Business Advancement Team is tasked with duplication elimination, conflict resolution, and elimination of unnecessary requirements for small businesses, but has not provided the Council with a report of its work since 2014.
- Pay equity analysis: The Montgomery County Pay Equity Act, passed by Council President Glass in 2019, requires the County Executive to submit several reports analyzing the effects of the legislation and efforts to foster equal pay in other jurisdictions. No reports have been transmitted to date.
“Montgomery County residents rely on a thriving economy for their personal financial well-being and for the tax revenue that businesses contribute to our schools, infrastructure and social safety net,” said Council President Glass. “I look forward to working with my Council colleagues, the County Executive, and our private and nonprofit sectors to create a vibrant and sustainable business environment where everyone is able to succeed.”