FOR IMMEDIATE RELEASE
April 22, 2020

CONTACT
Kristin O’Keefe, VP of Communications & Marketing
kristin@thinkmoco.com
240.641.6703

Applications now open for $200,000 Local Production Fund for Montgomery County makers and manufacturers

Rockville, Md. — The Montgomery County Economic Development Corporation (MCEDC) announced the creation of a new $200,000 fund designed to support businesses that are changing or enhancing their operating models to manufacture Personal Protection Equipment (PPE) for the unique needs associated with COVID-19. 

The Local Production Fund will provide small and medium-sized manufacturers/producers with the working capital necessary to make and provide pandemic-related items, such as face shields, medical supplies and other essential items. The fund was developed after MCEDC was asked to connect small makers and manufacturers of PPE with private buyers and hospitals, as well as the County’s procurement process. This network of small makers and manufacturers include seamstresses, 3D printers, textile manufacturers, local food producers, robotic and life sciences companies. 

A bill to help MCEDC seed the Local Production Fund with a $100,000 special appropriation was enacted by the County Council yesterday. MCEDC has agreed to match the County’s share with its own $100,000 contribution to bring the fund to a total of $200,000. MCEDC may also solicit additional private sector funding to supplement the Local Production Fund.  

“For those businesses that are looking to help the County meet the critical needs of effectively responding to COVID-19, we want to help close the deal,” said Benjamin H. Wu, President and CEO of MCEDC. “The Local Production Fund can have a pivotal impact in those cases when the manufacturing skills and ingenuity are there but funding for materials or prototypes is not.” 

Sourcing local products is often challenging in any climate, but it is even more so with the magnitude and urgency of COVID-19 demands. The new fund gives Montgomery County’s many small businesses the opportunity to address local COVID-19 needs.    

“The need to secure critical PPE is not just an immediate one. We will continue to build inventory leading up to the fall of this year and leveraging a reliable network of local producers of PPE will be vital to our efforts. This Local Production Fund will address a capacity issue that prevents some of these smaller enterprises from participating in our COVID-19 procurement efforts,” said Ash Shetty, Montgomery County’s Chief Procurement Officer.

“The Local Production Fund will provide much needed capital for small grassroots proprietors who often face barriers in accessing conventional financing,” said Jayne Park, Executive Director of IMPACT Silver Spring.

Existing Montgomery County companies, sole-proprietors and certain non-profits may be eligible 
for awards from the Fund. Manufacturers and producers with 200 employees or less may be eligible for funding and will need to be in good standing with the State of Maryland. 

“The Local Production Fund will help fill the working capital gap and encourage the expansion 
of the region’s manufacturing ecosystem. We expect to see some innovative solutions enter the marketplace,” said Mike Kelleher, Executive Director of the Maryland Manufacturing Extension Program. 

MCEDC will accept applications for The Local Production Fund beginning on April 22, 2020. For eligibility requirements, the online application and more information, please visit: https://thinkmoco.com/covid-19-resources/makers-and-manufacturers.

ABOUT MCEDC

The Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland. Created in 2016, MCEDC is led by a Board of Directors of business executives. Its mission is to help businesses start, grow and relocate in Montgomery County by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website. Follow us on Twitter, Facebook and LinkedIn.