July 13, 2026 - ECON Committee Worksession

The Montgomery County Economic Development Committee held a worksession on July 13, 2026, focusing on quarterly economic development indicators for Q4 2025 and a special update on the black labor market. Key procurement-related discussions included the status and administration of the Founders Fund, which has awarded $800,000 to eight minority businesses for technology commercialization projects. Committee members expressed concern about delays in launching the next funding cohort despite having $2.2 million available, citing administrative resource constraints. The committee also discussed the SBIR/STTR Matching Grant Program, which had expired due to a sunset provision; a bill was introduced to reinstate the program permanently and included amendments to clarify eligibility timing, codify a phase zero grant, and expand industry sectors. Additional amendments were passed to strengthen accountability, expand workforce pathways, encourage supplier partnerships with minority and small businesses, and measure long-term outcomes of the grant program. The committee emphasized the importance of equity, transparency, and timely disbursement of funds to support minority-owned businesses and economic development in the county.