Economic Power

Our Concern

Many converging trends threaten the County’s prosperity and quality of life, unless seriously addressed. The DC region has seen an alarming 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 regional 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 the reality of being viewed as anti-business, and other nearby jurisdictions are moving aggressively to seize openings in technology and biomedical – industry sectors the County has relied on economically. Our County leaders are not poised to address these basic economic shortcomings.

By the Numbers

  • In job growth, Montgomery County in ranked 20th out of 24 local jurisdictions over the last 15 years
  • Maryland still has one of lowest ranks for business-friendliness
  • In the last 10 years, the County’s population has grown over 10%, by over 100,000 residents, while the number of businesses has grown by only 1%
  • Revenue-share from the County’s commercial sector has steadily declined in 10 years, with this imbalance adding greater costs to our county residents
  • Six separate residential tax increases have been imposed (out of last 15 years)
  • In the past 4 years alone, County Council has passed multiple bills negatively impacting our small businesses and contributing to the County commercial decline

Our Action Plan

  • Reduce the County’s local energy tax which is having a regressive impact on taxpayers and on commercial operations
  • Protect the County’s AAA fiscal bond rating by stopping commercial revenue declines
  • Develop programs to diversify our economy, create solid job growth and expand our tax base
  • Push development in major employment corridors, like White Flint and the Science City
  • Ensure that public dollars are spent responsibly and in a most transparent manner
  • Support more aggressive marketing and branding for the County’s economic interests, to better match rival jurisdictions