Economic Power

Our Concern

Many converging trends threaten the County’s future prosperity and quality of life, unless addressed. The DC region has seen a dramatic decrease in gross regional product and job losses, losing its competitive position with other major regions. Too much dependence over the years has centered on federal spending; such reliance on Federal dollars will continue to diminish. Our County commercial tax base is in steady decline, and we are facing the loss of major companies and their commercial revenues. The County suffers from an anti-business perception, and other nearby jurisdictions are moving aggressively to seize openings in technology and biomedical – areas that the County has relied on economically. The County’s leaders appear not poised to address these basic economic shortcomings.

By the Numbers

  • The County’s Department of Economic Development spends only $350,000 to market Montgomery County
  • DC region is next to last (of 16 major regions) in gross regional product
  • Maryland is ranked thirty-seventh in percentage job growth; it has one of the lowest ranks for business-friendliness
  • Revenue from the County’s commercial sector is only at 22% and has not grown in over 10 years
  • In last 10 years, the County’s population has grown over 10%, by over 100,000 residents, while the number of businesses in the County has grown by only 1%

Our Action Plan

  • Support moving the existing County Department of Economic Development into a restructured and expanded private authority, enabling greater business involvement and more independent resources
  • Increase the County’s economic development budget for more aggressive marketing and branding
  • Get rid of the County’s local energy tax entirely, which is having a regressive impact on taxpayers and on commercial operations
  • Protect the County’s AAA fiscal bond rating at all costs
  • Develop strategies and programs to diversify our economy, create solid job growth and expand our tax base
  • Push the development of major employment corridors, including the Science City and White Flint
  • Ensure that public dollars are spent responsibly and in a most transparent manner, for the taxpayer’s best interests