Oct 12, 2026 - ECON Committee Worksession

The Montgomery County Council Economic Development Committee held a work session on October 12, 2026, focused first on Economic Development Fund (EDF) program policy and funding. Staff reported that the MOVE and Job Creation programs have exhausted available funding; the $1.65 million MOVE appropriation is committed, and more than $2 million in EDF Grant and Loan Program awards are expected to be committed in FY 2027. The Technology Innovation and Founders funds are also expected to commit their remaining allocations through upcoming rounds. Staff and County Executive representatives discussed possible consolidation or redesign of overlapping business-attraction programs, with stronger return-on-investment reporting and more targeted criteria. Options included lowering MOVE’s maximum award, prioritizing quality jobs and strategic industries, and considering equity and location criteria. No awards or spending motions were voted on.

Committee members emphasized collecting consistent information on jobs, business growth, county revenue, recipients, and funding status, and making recipient information public after funds are disbursed. County staff said current MOVE job reporting is not monitored as a grant condition, while EDF GLP applications provide data used to estimate fiscal returns. The committee chair proposed incorporating regular EDF updates into quarterly economic-indicator discussions and asked staff to draft a letter to the incoming County Executive for committee review by November 5, setting out issues for consideration ahead of the next budget. The discussion also noted that the Founders Fund’s eligibility criteria are under review by the County Attorney. The committee then began, but did not substantively cover, a separate Economic Development Strategic Plan work session. No procurement contract awards or vendor selections were identified.