Despite federal budget cuts that have challenged local economies across the region, Montgomery County, Maryland continues to attract key investment across industries. Nationally recognized as the 3^rd largest biohealth hub in the nation, and a thriving cluster for technology, defense, and satellite and advanced communications companies, the County continues to prove its ability to attract established employers, generate high-quality and high-paying jobs, and drive investment to our community.

This year alone, Montgomery County companies secured more than $837.84 million in private equity and venture capital investment, underscoring the strength and competitiveness of the region’s business ecosystem and the innovative services, products and technology they generate. The County itself has also invested hundreds of thousands into local companies, through its various grants and programs. The MOVE Grant, for instance, a program that helps companies expand their footprint has disbursed over $6.1 million since its creation in 2014. Additionally, Montgomery County also launched its fourth Business Innovation Center, located in Rockville, focused on supporting startups working with Artificial Intelligence. The County strongly believes that supporting entrepreneurship is critical to ensuring the ecosystem continues to grow and helps attract larger brands who benefit from partnerships, having strong local vendors, and the many innovations new companies generate.

Last week, biopharmaceutical giant AstraZeneca, headquartered in Gaithersburg since 2013, announced that it will build another state-of-the art facility, also in Gaithersburg. This new facility, which follows the opening of the company’s $300 million cell therapy manufacturing facility opened in Rockville last spring, will create 100 new jobs and continue to expand the company’s R&D in the County.

Earlier in the year, X-energy, a leading developer of next-generation nuclear reactor and fuel technology, announced the consolidation of its two Rockville offices into a new 125,000-square-foot headquarters in Gaithersburg’s Washingtonian Center. The company plans to retain 260 full-time employees and create more than 525 high-skilled jobs over the next six years. The move positions X-energy for long-term growth while strengthening Maryland’s emerging leadership in advanced nuclear energy solutions.

This year, the County also notched a major gain in the defense technology sector with the opening of AeroVironment’s new 57,000-square-foot research and manufacturing facility in Germantown. Governor Wes Moore, County Executive Marc Elrich, and local officials joined company executives in July to celebrate the $12.5 million project, which is expected to generate over 200 high-tech jobs, expanding AeroVironment’s Maryland workforce to roughly 600 employees and reinforcing the state’s role as a national hub for defense innovation.

Montgomery County’s strong business climate also continued to attract investments in Real Estate, technology and other high-growth industries. This summer, Bernstein Management Corporation, a major commercial real estate investment and management firm with a 70-year history in the Washington metropolitan area, relocated its corporate headquarters from D.C. to a newly renovated 15,000-square-foot space in Bethesda. The move is expected to bring 50 full-time employees to the County by year’s end. Bernstein’s portfolio includes more than 85 properties, with 5,800 residential units and nearly 3.7 million square feet of commercial space, making its relocation an endorsement of Montgomery County’s business environment.

In May, Rockville welcomed Powersolv, an IT consulting firm that relocated its headquarters from Reston, Virginia. Supported by a MOVE grant from Montgomery County, Powersolv employs more than 40 people at its new site and plans to add 20 new jobs within three years. The company cited access to top talent and the County’s growing Mid-Atlantic tech corridor as key reasons for its move.

Rounding out a strong period of economic momentum in Montgomery County, advanced materials for thermal insulation company Liatris celebrated the expansion of its pilot manufacturing facility in Rockville in Month. The project is expected to create 15 jobs, along with more than 100 indirect and induced jobs, generating an estimated $20 million in economic impact over the next three years. The facility will support the company’s innovative work in thermal insulation solutions.

“These recent wins in Montgomery County underscore what makes the area so compelling to business across industries,” said Jared Smith, incoming President and CEO of the Montgomery County Economic Development Corporation. “I’m incredibly happy to be stepping into a County with such a well-established and thriving business ecosystem, where innovation is not only encouraged, but deeply rooted in the community. This strong business foundation allows companies to scale and succeed in ways that are truly unique to Montgomery County.”

Even in the face of economic uncertainty, it is a positive sign that Montgomery County has been able to continue to attract new investment. From life sciences, clean energy, defense technology, corporate headquarters, and advanced materials, new economic activity helps strengthen the County’s position as one of the most dynamic and attractive business destinations in the nation.