Montgomery County Economic Development Corporation (MCEDC) Takes Center Stage as County’s New Lead Business Development Organization

Bold new public-private partnership aims to be “go-to” choice for
business opportunities

ROCKVILLE, Md.–(BUSINESS WIRE)–The Montgomery
County Economic Development Corporation
(MCEDC) was officially
designated as the County’s Economic Development Organization by the
County Council, marking a big and bold step toward achieving greater
economic competitiveness and prosperity in Montgomery County. As the
County’s new lead economic development organization, MCEDC is replacing
both the County Department of Economic Development (DED) and the
Montgomery Business Development Corporation (MBDC) effective July 1,
2016, as the primary point of contact for the local, regional, national
and international business community.

“In light of profound changes in the region’s economy and the
competitive landscape, the time has never been better for privatization
of the County’s core economic development functions,” said Bob Buchanan,
Chair of the MCEDC Board. “Businesses operate at a fast pace and are
looking to provide greater responsiveness that opens up new growth
possibilities. This new public-private partnership is a bold, new
initiative by the County and we are committed to make it work.”

MCEDC brings a fresh public-private perspective, entrepreneurial spirit
and a proactive customer-focused mentality to drive greater economic
competitiveness and prosperity. MCEDC, led by private sector executives,
is nimble and adaptive to changing market conditions and business needs.

“I am delighted that, starting now, the Montgomery County Economic
Development Corporation will take the lead on economic development for
the County,” said County Executive Ike Leggett. “Privatizing economic
development was a key part of my Six-Point Plan to grow jobs and
business. Together, let’s get to work.”

Montgomery County Council President Nancy Floreen commented, “Only by
focusing on job growth and expanding our tax base are we able to
preserve and enhance our great County services and – most important,
create opportunities for residents. With the formal designation of the
Montgomery County Economic Development Corporation as the County’s
primary vehicle for driving economic development, we’re moving from a
government-based to a business-based model for County economic success.
We are truly elevating the status of business and job growth in
Montgomery County, and I couldn’t be more pleased that MCEDC is now
official.”

MCEDC’s highly inclusive 11-member Board of Directors represents the
County’s vibrant community and an impressive range of business, academic
and research expertise. In addition to Chair Buchanan, who is also
president of The 2030 Group, membership of the MCEDC Board includes:

  • Robby Brewer (Vice Chair); Principal, Lerch, Early & Brewer
  • Ola Sage (Secretary); CEO, e-Management; CEO, CyberRx
  • Sanjay Rai (Treasurer); SVP for Academic Affairs, Montgomery College
  • James Brady, Vice President, Finance, MedImmune
  • Terry Forde, CEO, Adventist Healthcare
  • Ellie Giles, CEO, WorkSource Montgomery, Inc.
  • Mike Gill, Secretary, Maryland Department of Commerce (ex officio)
  • Angela Graham, President & CEO, Quality Biological
  • Cidalia Luis-Akbar, Chair & CEO, M. Luis Construction
  • Ron Paul, Chairman & CEO, EagleBank; President, Ronald D. Paul
    Companies
  • Lily Qi, Assistant Chief Administrative Officer, Montgomery County (ex
    officio)
  • Jacob Sesker, Senior Legislative Analyst, Montgomery County Council
    (ex officio)
  • Tien Wong, CEO, Lore Systems, Tech 2000 and Opus8, Inc.

A transition plan from DED is well underway. “We are dedicated to the
success of this transition from .gov to .com,” said Buchanan. According
to Buchanan, MCEDC’s initial priorities include “conducting a search for
a world-class CEO, securing top-flight office space and letting
businesses know we’re here.”

With today’s announcement, MCEDC is also launching its new website, www.choosemontgomerycountymd.com.
The website offers quick and easy access to essential information about
MCEDC and informs visitors to the site about what makes Montgomery
County such a vibrant place for living, working and starting or growing
a business.

About MCEDC

The Montgomery County Economic Development Corporation (MCEDC) is
Montgomery County’s new lead 501(c)(3) economic development organization
for resident businesses and stakeholders, as well as companies, business
leaders and entrepreneurs regionally, nationally and internationally.
MCEDC brings a pro-active, customer-focused and results-oriented
approach to maximizing business opportunity in the County. Comprised of
a highly-inclusive team of 11 on its Board of Directors, the MCEDC is
committed to growing the County’s vibrant business community and
leveraging their expertise for the future development of businesses
across the region.
To find out more information and get connected
with MCEDC, please visit
www.choosemontgomerycountymd.com.
Also, follow MCEDC on Facebook (https://www.facebook.com/choosemontgomerycountymd)
and Twitter (
https://twitter.com/choosemcedc
or @ChooseMCEDC).

Contacts

RMR & Associates
Sandra Schwartzman, 301-230-0045 ext. 100
sschwartzman@rmr.com