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…)