Are you looking to start, expand or relocate your business in Montgomery County? This article gives you what you need to know and helpful MCEDC resources.
- What Is MCEDC?
- Who Does MCEDC Serve?
- How Can MCEDC Help Your Business?
- What Industries Does MCEDC Work With?
- How Can You Start Working With MCEDC?
What Is MCEDC?
The Montgomery County Economic Development Corporation (MCEDC) is an organization that helps private and public sector companies with business growth.
MCEDC’s president and CEO, Bill Tompkins, believes that all businesses should have an equal opportunity no matter their size or the people who run in them.
Maryland is run by people with small business backgrounds. Governor Larry Hogan is a good example, as someone who ran small businesses for 25 years before becoming governor.
And Lt. Boyd Rutherford has taken measures to enhance the Small business Reserve Program, citing, “Small businesses are crucial to Maryland’s economy.”
You may be wondering what MCEDC’s mission or “end-goal” is .
It’s to give businesses in Montgomery County the extra leverage they need to reach their business goals, drive employment growth in the county, and join MoCo’s thriving business community.
Your business can benefitgain in the following ways:
- Finding the right location in Montgomery County
- Finding funding partners
- Pinpointing Incentives
- Landing the right permits
- Joining established programs
- Accessing industry-related resources
And much more.
MCEDC can be a major leverage point for your business success in Montgomery County…as long as you know where to look.
Who Does MCEDC Serve?
MCEDC serves both private and public sector companies.
From a private sector standpoint, MCEDC’s key function is linking minority-, women-, and veteran-owned businesses with the opportunities they’re looking for.
MCEDC organizers work across industries –, from nail salons and restaurants to advanced manufacturing, cybersecurity, and healthcare.
Whether your business is just beginning, growing, or looking to relocate to Montgomery County, MCEDC can be an extremely helpfulis a potentially effective resource.
How Can MCEDC Help Your Business?
Below are specific different ways MCEDC programs that supports your Maryland businesses:
MCEDC Programs
- The MOVE Program – helps businesses find the ideal area they want to serve in Montgomery county. Businesses new to the area can access a grant when they sign their first 3-year commercial lease.
- Minority Business Enterprise (MBE) – Helping minority and disadvantaged small businesses connect with state and county government contracts, business grants, and other opportunities.
- Small Business Reserve (SBR) – Giving small businesses prime contractor opportunities for state contracts, allowing small businesses to compete against each other rather than against large businesses.
- Veteran-Owned Small Business Enterprise (VSBE) – Offers contracting opportunities for veteran-owned small businesses that are qualified.
- Women-Owned Business Enterprise (WBE) – Helping women-owned business enterprises – in Montgomery County, Maryland can find support and resources for every stage of their business at MDEDC. Here are just a few resources for women-owned businesses:
- Maryland Women’s Business Center
- SBA Office of Women’s Business Ownership
- Women Business Owners of Montgomery County
- Montgomery County’s Minority, Female, and Disabled-Owned Businesses (MFD) Program and Certification
Governor’s Office for Small, Minority, and Women Business Affairs
One of the better known resources departments for women-run businesses is the Governor’s Office For Small, Minority, and Women Business Affairs.
There, Secretary Jimmy H. Rhee’s job is to connect Maryland small businesses with the right resources to support their growth and profitability.
This program aims to give minority small businesses better economic resources, access, and partnerships, while helping themensuring understand and businesses adhere to the state guidelines that govern them.
MCEDC Support Services
Starting A Business
The team at MCEDC can connect you with agencies and organizations that guide you through starting your business.
This includes things like writing your business plan, finding the right location based on your industry, and finding the best talent in the area to hire.
In addition, MCEDC can help you find grants, loans, and other business incentives to kick your new venture off on the right foot.
Growing A Business
If your business is already established and isbut looking to expand, MCEDC does partner with professionals who can help with expansion.
Since the MCEDC team has knowledge in various fields, and connects with multiple partners, growing your business can be an easier feat with their expertise.
Moving A Business To Montgomery County
MCEDC’s economic development team can ease the relocation learning curve and help identify find the perfect area for your business by:
- Helping with property selection and site tours (locations that meet your criteria)
- Helping you research the market you’re moving to (demographics and availability)
A company known as TEDCO is a market research partner of MCEDC who aim to help business owners improve market assessment and identify great opportunities.
If you’ve found it difficult to pinpoint your ideal customers, market research services could be a worthwhile opportunity.
What Industries Does MCEDC Work With?
MCEDC serves numerous industries, including but not limited to:
- Cyber Security
- Biohealth & Life Sciences
- Hospitality & Tourism
- Restaurants
- Construction
- Nonprofits
- Manufacturing
- Real Estate
- Arts & Entertainment
- Financial Services
- Information Technology
- Government contractors
Remember that different industries have different resources at their disposal.
That’s why MCEDC invites business owners and stakeholders to speak with their advisors to get acquainted with the resources most important for you.
How Can You Start Working With MCEDC?
The Montgomery County Economic Development Corporation (MCEDC) aims to support your business through organizational assistance, economic funding, and grant access to the right partners.
Whether you’re just beginning, looking to expand, or relocating your business, there’s a team of experts you can get in touch with.
If you’re interested in working with MCEDC, reach out to them using this page.
Wishing you the best with your business operations in Montgomery County!