Montgomery tries to stop jobs slide

By: Rachel Baye | Examiner Staff Writer

Montgomery County lost 18,000 jobs in the past four years, a trend officials are trying to reverse -- but they warn that the growth may be slow.
The county is trying to lure more business through a variety of programs including a tax credit for biotech companies, an incubator for startups, an easier permitting and zoning process, and more marketing, Department of Economic Development Director Steven Silverman told a County Council committee Monday.

Silverman noted that Montgomery's economic development lags that of rival Fairfax County, which is generally considered to be economically and demographically similar. Fairfax has lost 12,000 jobs in the past four years.

"We're doing everything that we can at the local level," he said. "We're looking for as many suggestions as possible from the private sector about what else we can be doing."

County Executive Ike Leggett has proposed supplementing Maryland's $8 million biotech tax credit to attract more capital for the biotech industry to Montgomery County, Silverman said.

However, Councilwoman Nancy Floreen, D-at large, pointed out that coming up with the funding might be problematic.

Silverman also pointed to the county's Incubator Network, which provides training and other resources for entrepreneurs and has enrolled about 170 companies representing 700 jobs. The program is expected to help the companies grow, building more jobs for the county's struggling economy.

More than 100 companies have graduated from the program, creating about 1,500 jobs, Silverman said. He suggested the county dedicate more resources to the program, which he said creates "one job at a time."

"There's no investment that we can make that's going to create 10,000 jobs overnight," he told

The Washington Examiner.

Councilman Marc Elrich, D-at large, said the purpose of the program was a good one, but he questioned whether the program's resources were being used wisely.

Part of the solution also lies in making building easier for new and existing businesses, Silverman said. He pointed to a recent zoning approval that allows DarCars to expand its corporate headquarters, creating what he predicts will be at least 150 new jobs.

Silverman also described plans for a new marketing campaign to drive business to the county.

Floreen said the Montgomery Business Development Corp. will give the council's Planning, Housing and Economic Development Committee, which she heads, benchmarks to show where the local economy should be.

"There's a lot to be done, no question about it," she said.

rbaye@washingtonexaminer.com