The MOVE program is part of the Montgomery County Economic Development Fund and is designed to attract cybersecurity, green technology, IT and life science businesses to Montgomery County.
Through MOVE, businesses receive financial assistance to reduce rent costs for the first year. The assistance available is $4 per square foot for a company’s first lease of Class A or Class B office space in Montgomery County.
To qualify for the assistance under MOVE, applicants must meet the following criteria:
- The applicant must operate primarily in the information-technology, life science, cyber-security or green technology industries, as evidenced by objective documentation (i.e. business plan, business proposal, client list, etc.).
- The applicant has signed a commercial lease with a landlord for at least three years for Class A or Class B commercial office building in the county. In the case of a life science company, leased lab space would qualify under this program.
- Total commercial space leased must be at least 2,000 rentable square feet but no more than 10,000 rentable square feet.
- The lease date must have begun after March 18, 2014, and the application receipt date must be within 90 days of the signed lease date.
The application will be reviewed and if qualified, the applicant will receive assistance upon receipt of the executed lease and verification of occupancy. A pre-qualification letter will be issued upon request.
An application is available online (see box, right). Complete the application and return it along with any required supporting documentation to: Montgomery County Department of Economic Development, 111 Rockville, Suite 800, Rockville, Maryland 20850.
For more information about the MOVE program, contact Gene Smith at 240-777-2011 or Lydia Lan at 240-777-2020.
What People Are Saying
“Being in one of the most educated, commuter-friendly and culturally rich business centers of Montgomery County will greatly accelerate the continuing growth and success of L-Soft. As a pioneer in the permission email industry, L-Soft is pleased to be the first company in the county’s innovative MOVE program, and we look forward to many more decades of success and strong relationships with our current and future customers, in the National Capital area and around the world.”
— Eric Thomas, Founder and CEO of L-Soft and inventor of LISTSERV®
“This rent subsidy will greatly enhance Montgomery County's reputation as a pro-business environment. Office rents are typically one of the highest expenses on a company's financial statement and the proposed subsidy represents a significant reduction in start-up and relocation expenses. The workplace has now become both a hiring and retention tool for employers. As these employers seek to attract the best and brightest employees while also reigning in real estate costs, this subsidy will create a competitive advantage for Montgomery County, not only as a place to work, but also to live.”
—Scott C. Randolph, Senior Vice President, TRANSWESTERN