The Montgomery County Council unanimously voted to pass a resolution to adopt an Economic Development Strategic Plan, which aims to strengthen the County’s economic growth.
The bill includes target metrics, strategies and concrete measures for increasing business activity in the County. Council Bill 10-21, enacted May 27, 2021, shifted the responsibility of drafting the Economic Development Strategic Plan from the County Executive to the Montgomery County Economic Development Corporation (MCEDC). The goal of the plan is to have one unified vision for economic development in Montgomery County.
“Economic development spurs financial growth and increases the quality of life for our community,” said Council President Albornoz. “The Economic Development Strategic Plan is a unified plan that is comprised of viable recommendations to help guide the County forward toward economic prosperity in the 21st century. As we continue to recover from the global pandemic, we should not lose sight that the projects identified in this innovative framework will build our workforce and help sustain our County for years to come.”
According to a County press release:
The plan outlines four strategic priorities:
- Priority A: Accelerate innovation, economic drivers and entrepreneurship.
- Priority B: Provide greater workforce and educational opportunities.
- Priority C: Build livable communities that connect residents to jobs.
- Priority D: Create an inclusive economy for shared prosperity.
Input was provided by partner agencies and organizations, including the Planning Board and the County’s Workforce Development Organization, the County Executive, Council and County residents.
As mandated in the County Code, MCEDC transmitted a draft version of the draft plan to the County Executive and the Council on Dec. 31, 2021. A public hearing was held on Feb. 8, 2022, and the PHED Committee reviewed and amended the plan at committee meetings in February and March. The Council unanimously supported the final draft of the plan.
The plan will be updated every two years to help spur economic development across our community.