Nearly 900 jobs were created and more than 3,800 were retained in Montgomery County during the past fiscal year, which also saw more than $375 million in capital investment, according to statistics recently released by the Montgomery County Economic Development Corp.
The MCEDC was started two years ago as a public/private partnership and nonprofit that helps promote economic growth in the county. The agency’s annual report, which encompasses the period between Oct. 1, 2017, and Sept. 30, provides a picture of the county’s economic health. According to MCEDC President and CEO David Petr, the majority of the jobs created—864—were in the areas of biotechnology and life sciences. He said the real estate industry also got a boost due to the move of JBG Smith’s headquarters to Bethesda from Chevy Chase.
“The joy for me is not only facilitating job creation and capital investment, but ensuring that it’s diverse throughout our county,” he said.
Other highlights of the report include:
* More than $600 million in venture capital investment;
* Marriott International’s groundbreaking on its new downtown Bethesda headquarters;
* The expansion of the Nonprofit Village, which is an incubator space in Rockville that houses several nonprofit organizations.
* The creation of MoCo Made, which is an initiative of both MCEDC and the Montgomery County Food Council that encourages residents to buy local.
* Amazon’s announcement that the county is on its shortlist of metropolitan areas for its second headquarters. The company is expected to announce its choice of location at the end of the year.