Financial Programs Help Set Businesses Up For Success
Financial assistance helps the growing businesses of Montgomery County meet the challenging demands of new innovation. See how your technology, manufacturing, urban development, or other private company can benefit from a public grant.
Being in one of the most educated, commuter-friendly and culturally rich business centers of Montgomery County will greatly accelerate the continuing growth and success of L-Soft.
PUBLIC GRANT AWARDS
New Grant Relief for On-Boarding Workers: Worksource Montgomery
For the many businesses affected by the COVID-19 pandemic, WorkSource Montgomery is awarding a limited number of grants to cover 50-75% of a new employee’s salary for the first 12 weeks. New employees must be residents of Montgomery County and start within 30 days of the grant application date – other restrictions apply. Applications close Oct 29. Grow Program – Worksource Montgomery | Worksource Montgomery
Montgomery County Economic Development Grant and Loan Program offers financial assistance to private employers that retain jobs or stimulate new job creation in Montgomery County. Priority is given to high technology companies, manufacturing companies, businesses in urban revitalization areas, and other private employers that provide the greatest public benefits. Please direct questions about this program to Lynne Benzion.
Advantage Maryland (MEDAAF) is a flexible and broad-based program, Advantage Maryland (also known as MEDAAF) funds grants, loans and investments to support economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds and local strategic planning. Projects must be within Priority Funding Areas and eligible industry sectors. Awards are made on a competitive basis.
The Montgomery MOVE Program has assisted many businesses new to the County that lease up to 20,000 square feet of Class A or B office space. These businesses may receive a grant of $8/sf. All grants are capped at 10,000 square feet for purposes of calculating the grant award. Companies need to apply here for funding within 90 days of signing a lease. Availability of funds varies based on demand and certain limitations apply.
Additionally, Companies currently working from privately-owned co-working spaces and privately run business Incubators located in the County may qualify for MOVE Grants. Each company will need to provide proof of its co-working or incubator space agreement as part of the evaluation process for MOVE. Please contact MCEDC staff for more details.
Rainscapes Rewards provides rebates up to $10,000 for commercial property owners installing rain gardens and conservation landscaping, planting trees and implementing other projects that help control storm water pollution. Property owners are also eligible for on-going credits against their Water Quality Protection Charge.
The State of Maryland Business Assistance Program offers a searchable database including loans, grants and venture capital opportunities.
Montgomery County companies who have been awarded an SBIR or STTR grant from the National Institutes of Health (NIH) and conduct at least 51 percent of its research & development operations in Montgomery County may now apply for a local Montgomery County Matching Grant award. Learn more about the SBIR or STTR grant >
Partnership for Workforce Quality provides matching training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies.
Maryland companies that receive an ExportMD award are eligible for up to $5,000 in reimbursement for expenses associated with an international marketing project.