Montgomery County Council Approves Leggett’s Initiative to Privatize Economic Development

Montgomery County Executive Ike Leggett introduced a bill to the County Council in May to transfer the major functions of the county’s economic development and business promotion to a private-sector-led nonprofit entity. On June 30, 2015 the County Council approved the County Executive’s bill. As announced in a Montgomery County news release:

“I want to thank the Council for their strong support of this change,” said Leggett. “I also appreciate the support for this from the business community. 

“From the time I was sworn in last December, I promised that Montgomery County government would change its relationship with the business community. This was a key element in my ‘Six-Point Economic Plan’ I announced as I began my third term as County Executive. 

“I also pledged that we would also change our economic competitiveness — how we attract and maintain businesses in Montgomery County.

…
“The legislation (pdf) approved today by the County Council would privatize our Department of Economic Development and that would create a non-profit, private-sector corporation to lead our economic development efforts in the future.

“Bringing the private sector in to lead our economic development will allow our County to be more nimble and adapt quickly to market changes and business community needs.

For more information read the full news release and previous coverage on Conduit Street.

Interested in learning more about what’s in store for the future of economic development in Maryland? Attend the MACo Summer Conference session entitled “Maryland’s Next Frontier in Economic Development” on Friday, August 14, 2015 from 9:00 am – 10:30 am. The MACo Summer Conference will be held August 12-15 at the Roland Powell Convention Center in Ocean City, Maryland. This year’s conference theme is “Energize. Mobilize. Capitalize.”

Learn more about MACo’s Summer Conference:

For a schedule of educational sessions at MACo’s Summer Conference, please view the Registration Brochure.

Questions? Contact Meetings & Events Director Virginia White.