MOVE continues into second year

Posted September 11, 2015

After more than a year, MOVE continues to bring business to the county

The MOVE program continues to offer financial incentives to companies moving to Montgomery County a little more than a year after it was inaugurated. The county launched the program in February 2014 following its announcement by County Executive Isiah Leggett. It was actively marketed on both the our websites, through direct mail, with digital and print ads, along with a radio advertising campaign.

The first company to take advantage of the program was computer pioneer L-Soft. In October 2014, L-Soft’s Founder and CEO Eric Thomas moved his company’s operation from Virginia to Montgomery County.

“I like that the county is actively trying to acquire IT companies because it can eventually lead to networking and partnership opportunities,” Thomas says. “Most IT companies are in Silicon Valley, where the culture is so different. Sometimes it feels like the main focus is stock appreciation for the next M&A deal. We badly need a counterpoint to Silicon Valley with different values, and maybe this is the first piece of the puzzle. ”

MOVE is available to any company, with the exception of restaurants and retailers, taking their first lease in the county.  It provides $8 square foot for up to 10,000 square feet of commercial space leased for a minimum of three years.

It has been wildly successful:  a total of 26 companies have taken advantage of the program, occupying 103,176 square-feet of commercial space. Those companies have brought 187 jobs into the county. Represented sectors include IT, bioscience, technology services and financial firms.

For more information about the program or to see if your company is eligible, visit the website or call the Department of Economic Development at 240-777-2000.

Reposted from Montgomery County Department of Economic Development