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Economic development is crucial to the economic vitality of a community, creating quality jobs, and expanding economic mobility for residents. This week, Montgomery County and the Montgomery County Economic Development Corporation (MCEDC) are celebrating Maryland Economic Development Week, an initiative developed by the Maryland Economic Development Association (MEDA) to increase understanding of the contribution economic development has to the state’s business climate, job retention and growth, tax base, and the overall quality of life in Maryland. 

“Economic development is one of the few revenue generators for Montgomery County. In fact, for every $1 invested in Montgomery County through MCEDC, the return is $11.48 in County revenue, which supports funding for schools, public infrastructure, and public services.” said Jared Smith, President & CEO of MCEDC. “We continue to see momentum in the County, and a clear commitment to improve its economic competitiveness. Recent initiatives like the Job Creation Project ZTA, which will streamline permitting for development projects that are in Montgomery County’s key industries, and the authorization of the County’s first TIF for Viva White Oak are strong indicators of how public and private sectors can work together to accelerate economic growth.”  

This year so far, Montgomery County companies in high-growth industry sectors have attracted almost $2 billion in venture capital, private equity, public offerings, and other funding. Many local businesses across research & development, climate intelligence, and defense and security have also celebrated milestones and continue to invest in the County, including:  

• Rockville-based Supernus Pharmaceuticals, which announced a merger with Viginia-based Indivior Pharmaceuticals. Supernus’ headquarters in Rockville will serve as the company’s global headquarters. 

• Clarksburg-based Thales Defense & Security (TDSI) celebrated a significant expansion of its manufacturing operations. Over the past year, TDSI doubled its manufacturing floor footprint through a $4 million investment, expanding production capacity to support the company’s continued growth. Today, TDSI employs approximately 675 people in Montgomery County, including roughly 250 manufacturing employees.  

• Global Alliant is a technology firm focused on providing innovation IT and software solutions to federal, state, and local agencies. Based in Rockville, Maryland, Global Alliant has continued to scale operations quickly and with the support of MCEDC, recently made a push to hire 75 new employees. MCEDC staff worked with the company to connect them to local resources such as WorkSource Montgomery and to educate them about incentive programs. 

• Taiwan-based global pharmaceutical company and contract development manufacturing organization (CDMO) Bora Pharmaceuticals established operations in Montgomery County through its acquisition of MacroGenics’ GMP manufacturing operations and biologics manufacturing facility in Rockville. The $122.5 million transaction includes a state-of-the-art biologics manufacturing facility and associated operations that will expand Bora’s U.S. manufacturing footprint and strengthen its end-to-end biologics services platform.  

• Finnish climate intelligence leader Vaisala Xweather opened a new location in Gaithersburg, MD, its first in the Mid-Atlantic region. Previously operating largely as a remote workforce, Vaisala Xweather employees are now based in Montgomery County.  

• Germantown-based Seraxis announced a merger with Ontario-based biotech company Sernova Biotherapeutics to pursue a Type 1 diabetes cure. The new company, BetaNova Therapeutics, will be based in Germantown and plans to hire 25 more employees.  

Together, these developments reflect a period of continued investment in Montgomery County, creating new opportunities for businesses and residents.

Talent is one of the most important factors influencing where companies choose to invest, expand, and grow. As competition for skilled workers intensifies, employers are embracing a broader talent strategy: one that leverages partnerships. Last week, almost 120 business leaders, elected officials, and members of Montgomery County’s business community attended the Montgomery County Economic Development Corporation’s (MCEDC) panel, “The Talent Advantage: A Growth Strategy for Companies in Montgomery County, Maryland,” to hear how local businesses are capitalizing on the County’s world-class academic institutions, innovation ecosystem, quality of life, and economic development resources to attract and retain top talent.

Moderated by Dr. Anne Khademian, Executive Director at The Universities at Shady Grove (USG), the panel included executives from businesses and institutions across industries, including Lockheed Martin, TrilliumBIO, Thales Defense & Security, Johns Hopkins, Montgomery College, and AstraZeneca, who discussed their companies’ strategies for developing their workforce.

Talent as a Business Strategy

For companies competing in highly specialized industries like the defense industry, access to talent directly influences where they choose to locate and grow. For Lockheed Martin, which employs nearly 1,000 people in Montgomery County, talent is one of the primary reasons the company chose to be headquartered here.

“Talent is in the top one or two reasons why we are in the County,” said Todd Cohen, Senior Lead of Strategic Workforce Development, Lockheed Martin.

According to Cohen, Lockheed Martin begins working with partners to develop their talent pipeline well before students enter the workforce, including partnering with Montgomery County Public Schools (MCPS) on programs such as coding challenges. Lockheed Martin also maintains close relationships with local higher education institutions, including the Universities at Shady Grove (USG).

That local talent pipeline is also an important factor for AstraZeneca, which employs more than 5,000 employees and contractors in Montgomery County. According to Tiffany Lukis, Director of STEM and Community Engagement at AstraZeneca, the company often taps into its alumni base from Montgomery College (ranked #26 nationally among community colleges) and USG (which offers nine different public universities onto one campus), and other local institutions to fill highly technical roles.

Local Companies Are Developing Talent and Not Just Finding It

According to the panelists, investing in existing employees is just as important as recruiting new ones.

At Suburban Hospital, workforce development is closely tied to talent retention. The hospital partners with local educational institutions to provide employees with opportunities to gain new skills and advance their careers. Programs include a Certified Nursing Assistant program through Montgomery College and English as a Second Language classes.

“A huge part of our talent strategy is to prioritize holding on to our top tier talent,” said Corey Lewson, MSW, Program Manager, Workforce Development, John Hopkins Medicine.

For smaller companies, developing talent internally can be especially valuable. Lane Edwards, Vice President of Operations, TrilliumBIO, a biomarker discovery company with fewer than 20 employees based in Rockville, described the challenge of balancing the need for highly specialized expertise with the realities of building a team at an early-stage company.

“When it comes to hiring, we have to be very strategic,” Lane said. “Do we have someone who has the expertise or someone that we can build on?”

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