Amanda Bosland, Author at Rockville Economic Development, Inc

Montgomery County, Maryland Launches Technology Innovation and Founders Funds: $10 Million in Grants Available to Support High-Growth Small Businesses

The Technology Innovation Fund will provide grants of up to $200,000 to early-stage businesses.

Montgomery County, Md. – Montgomery County Executive Marc Elrich announced the launch of two groundbreaking funding programs designed to support innovative early-stage businesses and underrepresented entrepreneurs: the Technology Innovation Fund and the Founders Fund. These programs offer a combined $10 million in commercialization grants to spur economic development and create equitable opportunities for growth and prosperity.

Applications for both funds now are open and will be accepted until 5 p.m. on Friday, January 31, 2025. To learn more about the Technology Innovation Fund and Founders Fund and to apply, visit: https://www.fedtech.io/accelerators/mcg.

“These programs reflect Montgomery County’s commitment to fostering innovation and equity in our economy,” said County Executive Marc Elrich. “The Technology Innovation Fund and Founders Fund are designed to help groundbreaking businesses overcome barriers, scale up, and succeed. We’re investing in the ideas and entrepreneurs that will shape the future of our County.”

About the Technology Innovation Fund

The $7 million Technology Innovation Fund will provide grants of up to $200,000 to early-stage businesses developing proprietary technology with high growth potential. Funds will support commercialization projects that bring innovative products closer to market, helping businesses to achieve significant milestones.

About the Founders Fund

The $3 million Founders Fund offers grants of up to $100,000 to early -stage entrepreneurs from historically underrepresented communities who face systemic
barriers to accessing capital. Eligible applicants must demonstrate how their proposed commercialization project will drive their business growth.

Eligibility for the Founders Fund will be assessed using Montgomery Planning’s Community Equity Index, Maryland’s Minority Business Enterprise via Maryland DOT – Certification Management System and Veteran Owned Business Enterprise Program; and the Certified as a Women or Veteran-owned business by the U.S. Small Business Administration (SBA) Women or Veteran-owned certification tools.

“I’m thrilled that these dedicated funds are now available to businesses and entrepreneurs seeking to invest and innovate in Montgomery County,” Council member Andrew Friedson said. ” I was proud to spearhead this initiative — the largest economic development package in the County’s history — to help jumpstart our local economy. These complementary funds will reduce barriers for emerging businesses and entrepreneurs, intentionally capitalize on our world-class talent with expanded opportunities, and build on our reputation as a global destination for innovation.”

Application Process

To ensure a fair and unbiased review process, applications will be evaluated by FedTech, an independent third-party organization with expertise in connecting innovative technologies to commercial markets. Awardees also will receive up to two hours of technical assistance from FedTech to further enhance their chances of success.

“The creation and allocation of these funds, combined with other resources provided by the county, underscores Montgomery County’s continued commitment to fostering business growth and innovation. As we focus on cultivating opportunities for all, we are ensuring a brighter future for generations to come” says Bill Tompkins, President and CEO, the Montgomery County Economic Development Corporation.

Montgomery County is partnering with MCEDC to facilitate the promotion and selection process. Award notifications will be made during March. If funds remain after the first round, a second application round will open in Spring 2025.
For questions, contact: MontCtyMD@fedtech.io

About Montgomery County Economic Development Corporation (MCEDC)

Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland, and is funded by the Montgomery County Government. Created in 2015, MCEDC is led by a Board of Directors of business executives. Its mission is to accelerate business development, attraction, retention and expansion in key industry sectors while advancing equitable and inclusive economic growth.

About Montgomery County Government

Montgomery County, Maryland, is the largest county in the state of Maryland with over 1.1 million residents. Bordering the District of Columbia, and directly across the Potomac River from Northern Virginia, Montgomery County is the home to 18 federal agencies including National Institutes of Health (NIH), the Food & Drug Administration (FDA), the National Institute of Standards and Technology (NIST) as well as the headquarters to over 700 companies. The county offers a unique ecosystem rich in talent, groundbreaking discoveries, and a vibrant community dedicated to sustainability and bold thinking. With 40% of residents speaking a language other than English and a third of the population born outside the U.S., Montgomery County embraces diversity. This inclusive environment fosters a rich tapestry of perspectives, providing an ideal location for businesses to thrive, innovate and flourish.

Press Release originally published by Montgomery County Economic Development Corporation (MCEDC): https://thinkmoco.com/about/news/montgomery-county-maryland-launches-technology-innovation-and-founders-funds-10-million-in-grants-available-to-support-high-growth-small-businesses/

Capital Bank Named One of the Best Banks to Work for in 2024

Capital Bank continues to set the standard for excellence in employee satisfaction.

ROCKVILLE, Md., Nov. 21, 2024 (GLOBE NEWSWIRE) — Capital Bank has been named one of American Banker’s 2024 Best Banks to Work For. American Banker has partnered with Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees.

This year 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered. On the 2024 list, Capital Bank was ranked No. 79. This marks the fifth time Capital Bank has been recognized with this award showcasing their ongoing commitment to being a workplace where employees thrive. With over 400 employees, Capital Bank continues to set the standard for excellence in employee satisfaction.

We are a bank that genuinely cares, values and invests in our employees,” said Eric Suss, Executive Vice President and Chief Human Resources Officer at Capital Bank. “This commitment drives us to create programs that fuel professional growth, celebrate achievements, and foster a culture of collaboration and connection.”

Capital Bank prioritizes the growth and well-being of its employees by launching programs and initiatives focusing on aspects like employee rewards and recognition, wellness programs, and DEIB (Diversity, Equity, Inclusion and Belonging) awareness. Together their efforts provide employees with vital education, resources, and inclusive spaces to voice their thoughts and opinions.

“Our employees are the embodiment of our company culture,” said Ed Barry, CEO of Capital Bank. “While we are a growth-driven organization, a business is only as strong as its people. That’s why we prioritize fostering a healthy, supportive, and empowering work environment.”

Recently, the Bank has launched a signature initiative called Capital Bank Immersion, that provides new employees opportunities to meet with senior leaders and learn about the bank’s businesses and operations during their on-boarding process. Similarly, following Capital Bank’s acquisition of Integrated Financial Holdings, Inc. (IFH), the immersion program was used to on-board new employees together to network in locations like North Carolina, South Carolina, Indiana, and Illinois.

“The Best Banks to Work For represent institutions helping employees achieve their goals,” said Chana Schoenberger, editor-in-chief of American Banker. “These banks recognize how important it is for their staffers to be happy about the work they do and the environment in which they spend their days.”

About Capital Bank

Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in six locations including Washington D.C., Reston, VA, Ft. Lauderdale, FL, Rockville, MD, Columbia, MD and N. Riverside, IL. Capital Bancorp had assets of approximately $2.6 billion at September 30, 2024 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company’s website www.CapitalBankMD.com under its investor relations page.

Capital Bank’s personalized approach to business banking and the creative delivery of technology has helped fuel our continued growth. During all of our success, we have delivered meaningful client experiences by remaining true to a core operating principle: Think Big, Act Local.

About American Banker

American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation, and reform. With a banking community 850k strong, American Banker’s content connects leaders online, in person and in print every day.

About Best Companies Group

Since 2004, Best Companies Group has specialized in identifying and recognizing great employers to work for. We are an independent research firm that ranks companies based on our established research methodology. Our surveys provide actionable, hard-to-obtain data that companies use to improve employee recruitment and retention.

View original Press Release: https://www.globenewswire.com/news-release/2024/11/21/2985362/0/en/Capital-Bank-Named-One-of-the-Best-Banks-to-Work-for-in-2024.html

Comstock announces affordable housing project for Rockville development site

The property, located adjacent to Metro’s Rockville Station on the Red Line, will be branded as Momentum @ Rockville Station and is slated to deliver well over 100 affordable housing units to the community.

Reston, Va., Nov. 20, 2024 – Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the “Company”), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that it is partnering with SCG Development Holdings, LLC (“SCG”) to form a joint venture that will develop an affordable housing project located on land currently owned by Comstock at 41 Maryland Avenue in Rockville, Md. (“Comstock 41”). The property, located adjacent to Metro’s Rockville Station on the Red Line, will be branded as Momentum @ Rockville Station and is slated to deliver well over 100 affordable housing units to the community.

“The City of Rockville is working to expand housing options to help support the everyday heroes of our community, including teachers, firefighters, police offices, health professional staff, and other people who help our city, county, and state run,” said Monique Ashton, Mayor of Rockville. “We look forward to working with this joint venture [Comstock and SCG] to create more high-quality, transit-oriented, affordable housing that provides a safe place for residents to thrive.”

SCG is a respected leader in affordable housing development that specializes in community-centered housing solutions. They have been involved in the successful development of more than 100 properties across the United States, including Momentum @ Shady Grove, a similar affordable housing project developed by SCG and Comstock that sits adjacent to the Shady Grove Metro station and was delivered in 2020.

Comstock and SCG entered into a definitive purchase agreement for Comstock 41, which was acquired by a subsidiary of Comstock in late 2023 for approximately $1.5 million. Pursuant to the purchase agreement, Comstock and SCG will enter into an operating agreement and a development agreement, under which Comstock will provide development management services to the joint venture. The Company will also be entitled to provide property management services once the development is ready for occupancy. The Comstock 41 transaction is expected to close upon approval of the construction plans by the City of Rockville. Financing will be arranged by SCG once the plans are approved.

“SCG is excited to announce the launch of Momentum at Rockville Station, which is currently in the planning and entitlement stages,” said Steven P. Wilson, President, SCG Development. “The development will provide much-needed affordable housing that is close to retail and office space and walkable to the Rockville Metro Station. As we navigate the planning and approval process, we are fully committed to collaborating with Comstock and local government officials to ensure the project’s success.”

Comstock and SCG will work closely together with the City of Rockville to secure approvals needed to maximize the number of affordable units the joint venture will deliver to the heart of Rockville Town Center. This adheres to the project’s vision to meet the City of Rockville’s growing housing needs and underscores the ongoing commitment of Comstock and SCG to provide accessibility to affordable, transit-oriented housing options that help foster community growth.

“We are thrilled to once again partner with SCG to deliver more high-quality, transit-oriented, affordable housing to Montgomery County’s fast-growing population,” said Christopher Clemente, Comstock’s Chairman and Chief Executive Officer. “Set alongside BLVD Forty Four and BLVD Ansel, Momentum @ Rockville Station will further expand Comstock’s footprint in the vibrant Rockville Town Center neighborhood. We’re helping to address the need for affordable transit-oriented housing.”

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation’s best real estate markets. Comstock’s developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information visit https://comstock.com/

View original press release: https://ir.comstockcompanies.com/news/news-details/2024/Comstock-Announces-Affordable-Housing-Project-for-Rockville-Development-Site/default.aspx

Rockville Economic Development, Inc. seeks Managing Director for Maryland Women’s Business Director

The Maryland Women's Business Center hosts more than 120 workshops a year, interacting with more than 1,600 clients through its various services and programs.

Rockville Economic Development, Inc. (REDI) is seeking a qualified and experienced candidate for the position of Managing Director for the Maryland Women’s Business Center (MWBC).

The Managing Director for the Maryland Women’s Business Center reports directly to the Chief Executive Officer for the Rockville Economic Development, Inc. (REDI). The MWBC is funded in part through a Cooperative Agreement with the U.S. Small Business Administration, as well as other Federal and local funding sources, including hosting more than 120 workshops a year, interacting with more than 1,600 clients through its various services and programs. The Managing Director, responsible for overseeing an annual budget of $1M and leading a staff of seven, plus other contractors and volunteers, will facilitate the daily operations of the Maryland Women’s Business Center (MWBC) in Rockville, Bowie, and a satellite location in Frederick.

Details of the position responsibilities and job requirements are included in the job description (PDF) posted here: Managing Director – Maryland Women’s Business Center job description.

To apply, qualified candidates should submit their résumé with cover letter indicating interest via email to HR@rockvilleredi.org. Application review begins on December 20, 2024.

AstraZeneca invests $3.5 billion in R&D and manufacturing in the United States

Investment includes $300 million manufacturing facility in Rockville set to open in 2026

Article originally published by CoStar on November 12, 2024

AstraZeneca plans to invest $3.5 billion by the end of 2026 to expand its research and manufacturing operations across the United States.

The United Kingdom-based pharmaceutical giant said Tuesday its capital commitment to the expansion includes $2 billion in new investment.

“By expanding our R&D and manufacturing footprint, we aim to enhance the development of cutting-edge therapies and support the United States leadership in healthcare innovation,” AstraZeneca’s CEO Pascal Soriot said in a statement.

The company’s plan to expand comes as demand in the U.S. for life science space, including lab, research and development, and other biotech facilities, shows signs of increasing. The sector had surged early in the pandemic then slowed dramatically as capital markets tightened and venture capitalists looked elsewhere to make investments.

With the recent addition of 3 million square feet of life science space to the sublease market, the sector’s overall availability is 30% and rents are down 9%, according to JLL’s recently released 2024 Life Sciences Real Estate Perspective and Cluster Analysis.

The company said its expansion plans include an R&D facility at Kendall Square in Cambridge, Massachusetts; a biologics manufacturing facility in Maryland; and properties involved in cell therapy manufacturing on the West and East coasts and specialty manufacturing in Texas.

AstraZeneca’s exact plans, including how much commercial property it would add, have not been disclosed in detail. In February, the company said it would invest $300 million in a manufacturing facility in Rockville, Maryland. It is expected to be operating by 2026.

AstraZeneca has said there is increased demand for its medicines across its work in oncology, biopharmaceuticals and rare diseases, driving a financial growth trajectory.

The move is the first step to achieving $80 billion in total revenue by 2030, it added. The company’s global media relations team did not immediately respond to CoStar News’ email request for comment.

The investment would add more than 1,000 jobs to the roughly 17,800 employees currently working across 17 research and development, manufacturing and commercial sites in 12 states, according to the firm.

Details on the healthcare property investment came the same day the company said its third-quarter total revenue grew 21% and core earnings per share were up 27% from the prior-year period.

“Growth looks set to continue through 2025,” the company said.

Link to article: https://www.costar.com/article/10531341/astrazeneca-plans-35-billion-expansion-of-research-manufacturing-operations-across-us

Amazon Invests in X-Energy to Support Advanced Small Modular Nuclear Reactors and Expand Carbon-Free Power

Investment solidifies X-energy’s leading role in commercializing SMR technology to revolutionize the nuclear industry.

ROCKVILLE, Md., October 16, 2024 – X-Energy Reactor Company, LLC (“X-energy”), a leader in advanced nuclear reactor and fuel technology, today announced a Series C-1 financing round of approximately $500 million, anchored by Amazon.com, Inc. (“Amazon”). The investment will help meet growing energy demands by funding the completion of X-energy’s reactor design and licensing as well as the first phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee. Additionally, the funding will support future carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors (“SMRs”). Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation (“Ares”), NGP, and the University of Michigan join Amazon’s Climate Pledge Fund in the financing round.

Amazon and X-energy are also collaborating to bring more than 5 gigawatts of new power projects online across the United States by 2039, representing the largest commercial deployment target of SMRs to date. The efforts will help meet growing energy demands in key locations through direct project investments and long-term power purchase agreements to help power Amazon operations. Further, X-energy and Amazon plan to establish and standardize a deployment and financing model to develop projects in partnership with infrastructure and utility partners.

The companies will initially support a four-unit 320-megawatt (“MW”) project with regional utility Energy Northwest in central Washington with the option to increase that project to 12 units and 960 MW. Amazon is immediately committing a direct investment in the Energy Northwest project to fund early development work that X-energy will perform.

“This collaboration between Amazon and X-energy is a significant step toward accelerating advanced nuclear technologies that can help us bring new sources of carbon-free energy to the grid cost-effectively and safely,” said Kevin Miller, Amazon’s Vice President of Global Data Centers. “We need smart solutions that can help us meet growing energy demands while also addressing climate change. X-energy’s technology will be integral in helping achieve this, and is an important step in Amazon’s work to achieve our Climate Pledge commitment to be net-zero by 2040.”

“Nuclear is an important source of clean and reliable power that our nation needs to meet the growing demand for energy,” said Ken Griffin, Founder and CEO of Citadel, whose affiliate is one of the lead investors in this round. “X-energy provides an impactful solution to a critical challenge – and the support Amazon, Dow, and other major corporations have provided underscores its potential and merit.”

“Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell. “To fully realize the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand. We deeply appreciate our earliest funders and collaborators, notably the U.S. Department of Energy and Dow Inc. With Amazon, Ken Griffin, and our other strategic investors, we are now uniquely suited to deliver on this transformative vision for the future of energy and tech.”

X-energy’s pioneering Xe-100 advanced small modular reactor and TRISO-X fuel are among the safest and most reliable clean energy technologies. Each reactor unit is engineered to provide 80 MW of electricity and is optimized in multi-unit plants ranging from 320 MW to 960 MW. The innovative and simplified modular design is road-shippable and intended to drive geographic scalability, accelerate construction timelines, and create more predictable and manageable construction costs. X-energy’s advanced reactor technology offers remarkable efficiency and resiliency to meet the requirements of energy-intensive data centers, allowing Amazon to align its growth and carbon-free energy goals.

X-energy is developing its initial Xe-100 plant at Dow Inc.’s UCC Seadrift Operations manufacturing site on the Texas Gulf Coast. Supported by the U.S. Department of Energy’s (“DOE”) Advanced Reactor Demonstration Program (“ARDP”), the project will be the first grid-scale advanced nuclear reactor deployed to serve an industrial site in North America, providing the site with zero-carbon emissions power and high-temperature steam. ARDP also supports X-energy’s first-in-the-nation commercial facility to exclusively manufacture TRISO fuel, which DOE calls “the most robust nuclear fuel on Earth.”

Additional Commentary
Kam Ghaffarian, Ph.D., Founder and Executive Chairman, X-energy

“The investments from Amazon, our Series C-1 funders, and valued partners like Dow and the U.S. Department of Energy underscore X-energy’s leadership in commercializing SMR technology and delivering the clean, safe, affordable, and reliable power our world needs now. Reaching this milestone is a testament to the dedication of the X-energy team and the essential energy solutions we’ve built. We remain focused on bringing our advanced reactor technology to market, enabling a future powered by sustainable, zero-carbon energy.”

Allyson Satin, Partner, Ares

“Ares is proud to further strengthen its support for X-energy and the advancement of nuclear technologies as it enters this partnership and significantly accelerates its mission to support the transition to a lower-carbon economy. Through our work together over the last two years, we are confident in X-energy’s ability to capitalize on the rapidly increasing demand for scalable clean energy sources and drive long-term, sustainable value for its stakeholders.”

Maritza Liaw, Partner, NGP

“NGP recognizes the unique contribution of nuclear energy to reliable, carbon-free, baseload electricity and industrial heat. X-energy has a world-class team, well-tested reactor and fuel design, and committed collaborators in Dow and Amazon who are both leaders in their industries. We are proud to partner with X-energy to bring advanced nuclear energy to market.”

Erik Lundberg, Chief Investment Officer, University of Michigan

“The University of Michigan has been at the forefront of the energy transition, strategically investing in a diverse portfolio of sustainable and renewable energy and other climate solutions, including utility-scale solar, renewable fuels, and sustainable infrastructure. The U-M Investment Office is proud to partner with X-energy as part of its broader commitment to transitioning to a more sustainable economy. As part of its comprehensive approach to achieving a low-carbon future, the U-M Investment Office recognizes advanced nuclear technologies as a key component to its climate solutions investment strategy, reinforcing its commitment to long-term decarbonization goals.”

Advisors
Latham & Watkins LLP is acting as legal advisor to X-energy, and Moelis & Company is acting as exclusive financial advisor and placement agent.

About X-energy

X-Energy Reactor Company, LLC, is a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient advanced small modular nuclear reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world. X-energy’s simplified, modular, and intrinsically safe SMR design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com or connect on Twitter or LinkedIn.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

View original Press Release: https://x-energy.com/media/news-releases/amazon-invests-in-x-energy-to-support-advanced-small-modular-nuclear-reactors-and-expand-carbon-free-power

BioHub Maryland opens new biopharma Workforce Training Center in Rockville

The new 8,200 SF skills training center equips workers to accelerate Maryland's Life Sciences industry

BioHub Maryland, an initiative to accelerate life sciences in the state, today officially opened a new state-of-the-art biopharmaceutical workforce training center at 9808 Medical Center Drive in Rockville. Maryland Lt. Governor Aruna Miller and Montgomery County Executive Marc Elrich joined life sciences industry leaders to open the training center on October 24.

Located in one of the nation’s top life sciences hubs, the 8,200-square-foot BioHub Maryland Training and Education Center at Montgomery County unlocks career opportunities for Marylanders and builds the diverse and skilled workforce needed to advance Maryland’s global life sciences leadership.

The BioHub Maryland Training and Education Center at Montgomery County provides hands-on technical training to current life sciences workers, military Veterans and Marylanders who may not have college degrees in a multifunctional facility designed to simulate a real-world biopharma manufacturing setting.

Trainees gain skills such as aseptic techniques and manufacturing recombinant proteins, vaccines, and cell and gene therapies, and essential practices like Good Manufacturing Practice (GMP) and Good Documentation Practice (GDP).

The BioHub Maryland Training and Education Center at Montgomery County is made possible through a $3 million investment by Montgomery County. Additionally, the Moore-Miller Administration has provided $1.25 million in operational and capital support to BioHub Maryland since taking office.

The BioHub Maryland Training and Education Center is the only training center in the National Capital Region to feature globally trusted curricula from the National Institute of Bioprocessing Training and Research (NIBRT), an international leader in biopharmaceutical manufacturing training and research.

BioHub Maryland is a skills-first workforce development initiative of the Maryland Tech Council (MTC), the state’s largest life sciences and technology trade association. Its mission is to accelerate the growth of the life sciences industry by expanding the state’s biopharma manufacturing talent pipeline.

Montgomery County Executive Marc Elrich stated, “The BioHub Maryland Training and Education Center at Montgomery County is an exciting opportunity to create local jobs and expand our county’s life sciences leadership. Our investment enables job seekers of all educational backgrounds to gain in-demand biopharma skills in a cutting-edge training environment while providing employers the skilled workforce they need to advance the medical innovations that patients around the world depend on.”

Maryland Tech Council Chief Executive Officer Kelly Schulz stated, “The BioHub Maryland Training and Education Center at Montgomery County will set the standard for excellence in life science talent development. We are building the biopharma workforce of the future in Rockville and our doors are open to Marylanders of all educational backgrounds. We are grateful to Montgomery County for their leadership in making this training center possible, and to the Moore-Miller Administration for their critical operations support since taking office.”

Life sciences is a high-paying career option for job seekers who may not have college degrees. One out of every three life sciences job openings in Maryland does not require a Bachelor’s degree, and average annual life sciences incomes are 87% higher than those of other industries in Maryland.

Maryland hosts 2,700 life sciences companies and 54,000 industry workers and, as part of the BioHealth Capital Region, is ranked the nation’s #3 biopharma cluster. Montgomery County is a life sciences leader, hosting a dense concentration of companies, research institutions, and federal agencies such as the National Institutes of Health and the Food and Drug Administration.

About BioHub Maryland

BioHub Maryland is accelerating the life sciences industry for companies and career seekers to expand the state’s global innovation advantage. An award-winning initiative of the Maryland Tech Council, the largest technology and life sciences trade association in the state, BioHub Maryland helps residents of all backgrounds pursue rewarding careers in life sciences by offering skills training, career resources, and access to 1,200+ job openings in life sciences. BioHub Maryland also helps life sciences companies at every stage grow by showcasing their career opportunities, training the next generation of life sciences talent, and providing strategic resources for raising capital. Learn more at biohubmaryland.com

New Biohealth Hub set to advance biotechnology innovation and drive economic growth

Biohealth Hub will offer access to essential resources such as funding, talent, and state-of-the-art laboratory space.

Montgomery County, Md., Oct. 18 2024 – The opening of the Biohealth Hub @ Greencourt Innovation Center (“Biohealth Hub”) was celebrated with a special ceremony that brought together public officials, a diverse group of innovators, entrepreneurs, investors, community leaders, and stakeholders from Maryland’s life sciences and biotechnologies community. The event marked a significant milestone with the Biohealth Hub set to play a central role in advancing biotechnology innovation, and breakthroughs and driving economic growth.

Co-founder Bei Ma delivered the opening remarks, expressing her excitement about the hub’s launch and its mission to transform the life sciences landscape in the region. “It’s an honor to welcome you all to the opening of the Biohealth Hub,” said Ma. “Today’s opening is a significant step in powering the next generation of entrepreneurs who will shape the future of medicine. At Biohealth Hub, our mission is clear: to provide unparalleled access to the key resources that drive success—capital, talent, and state-of-the-art lab space.” She outlined the vision for the hub as the “easy button” for life sciences companies, facilitating seamless connections to funding, expertise, talent, and facilities to accelerate innovation.

Following Bei Ma’s remarks, Secretary of State, Susan Lee, congratulated the Biohealth Hub in its launching at Greencourt Innovation Center, where co-founders Stephany Yu and Bei Ma hosted an inspiring evening of innovation, collaboration, and celebration in the life sciences community.

Secretary Lee highlighted the crucial role that life sciences and biotechnologies play in Maryland’s economy and its growing reputation as a hub for scientific excellence. “Maryland’s biohealth industry is not just a vital part of our economy, but also a source of breakthroughs that will improve lives around the world. This new Hub will create an ecosystem where startups, researchers, and established companies can work side by side to tackle some of the most pressing health challenges of our time,” she continued. Secretary Lee concluded by expressing optimism about the future impact of the Biohealth Hub. “The journey of transforming ideas into life-changing solutions requires not only expertise but also an ecosystem that nurtures creativity and accelerates growth. With the launch of the Biohealth Hub, we are taking a significant step towards cultivating the next wave of biotech innovations, right here in Maryland.”

Maryland Montgomery County Executive, Marc Elrich, in his remarks, emphasized the strategic significance of the Biohealth Hub for the region’s economic development and the advancement of public health. “Montgomery County has long been a leader in life sciences, and today, with the opening of the Biohealth Hub, we’re adding another important piece to our ecosystem,” said Elrich, “with the National Institutes of Health, the Food and Drug Administration, and numerous biotech companies headquartered here, Montgomery County is already at the forefront of biomedical research and innovation. The Biohealth Hub will enhance our ability to attract and retain top talent and investment, further solidifying our place as a global leader in this sector.”

The event included a roundtable introduction session with representatives from government agencies, investors, life sciences companies, and professional service providers discussed the industry’s future, including:

Bill Tompkins, President and CEO – Montgomery County Economic Development Corporation (MCEDC)
Jean-luc Park, Senior Director of Social Impact Funds – Maryland TEDCO
Cindy Rivarde, CEO – Rockville Econiomic Development Inc. (REDI)
Richelle Wilson, Deputy Director – REDI
Marji Graf, President & CEO – Greater Rockville Chamber of Commerce
John Mumm, President & CEO – Deka Biosciences
Pavel Khrimian, Co-founder & CBO – Deka Biosciences
Roger Nakazawa, Olympia Holdings
Vijay Lakshman, Brilliant Inc.
Daozhan Yu, President and CEO – AAVnerGene
Anthony Millin, Next Chair, Partner – Shulman Rogers
Jimmy Lu, Founder – Neomics
Randy Xu, Co-founder and CSO – ARV Technologies

Biohealth Hub is now positioned as a central hub for Maryland’s biotechnology ecosystem, catalyzing collaboration, research, and commercialization efforts. With its unique approach and strategic location at the Greencourt Innovation Center, the hub is set to attract top talent, investment, and cutting-edge research to the region.

About Biohealth Hub

The Biohealth Hub @ Greencourt Innovation Center is a premier innovation space dedicated to advancing life sciences and biotechnology in Maryland. The hub offers a collaborative environment where startups, researchers, and investors come together to foster growth in life sciences, biotechnologies, medical devices, and digital health. Learn more at https://biohealthhub.net/

Nonprofit Spotlight: Community Reach of Montgomery County

"Achieving the extraordinary together."

What cause does Community Reach support?

Since 1967, Community Reach of Montgomery County (“Reach”) has supported underserved communities by providing safety-net services that empower them to achieve self-sufficiency. Reach strives to ensure all community members have their basic needs met and have a more equitable chance of realizing their full potential. As the needs of the community have changed over the last 57 years, we have grown to work in five service areas.

Reach provides healthcare for the uninsured through the Mansfield Kaseman Health Clinic, support for seniors aging in place in the City of Rockville, education for immigrants and tutoring for children, supportive housing for formerly unhoused men and women, and financial emergency assistance to prevent evictions and utility terminations.

What is the impact of your organization on the community?

Reach’s five service areas help clients achieve self-sufficiency, meaning that they have the stability, knowledge, and skills they need to meet their own needs. This approach includes both immediate relief for unmet needs like shelter and hunger and long-term support to improve overall quality of life for underserved communities. Our work provides tangible, direct benefits to approximately 4,000 lower-income residents each year, many of whom live and work in Rockville. Our work helps to build a more equitable, healthier, and safer community for all.

What motivated you to join your organization?

I fell in love with the rich history of Reach, beginning in response to youth issues in the late 1960s, supporting young people to speak up for change and social justice and continuing to create programs for nearly 60 years in response to the needs of the community. I also admired the interfaith origins of the organization that continues today to include people of many different backgrounds who come together to serve their neighbors in need.

Why did your organization choose to operate out of Rockville?

From its outset, Reach was a Rockville-based organization. In 1967, several local faith organizations came together to form a community ministry for the Rockville community, working to build community connections and give a voice to marginalized groups. Known as “Community Ministries of Rockville,” the organization initially focused on advocacy and youth mentorship. In the 1980s it shifted to direct services, responding to increased community need caused by nationwide cuts to human service programs. In 2019, the organization changed its name to reflect a new, wider purpose and mission to provide services throughout the county, but we are still based in Rockville.

What does your organization hope to accomplish in the future?

Reach intends to expand its presence in the community and continue to address urgent needs for healthcare, housing, education, and more among underserved populations. Currently, plans are underway to offer women’s health and diabetes focused health and wellness days at MKHC to improve healthcare access, launch two new ESL conversation classes for parents at local elementary schools and tutoring for students at the schools, provide personalized technology assistance workshops for local seniors, and more. In the long term, we hope to increase advocacy efforts to draw attention to issues that most impact the communities we work with, such as housing reform, voter awareness, support for immigrants, and general support for underserved communities.

About Community Reach of Montgomery County

Visit Community Reach of Montgomery County at 1010 Grandin Avenue, #A1 Rockville, MD, 20851

Learn more about Community Reach of Montgomery County at www.cmrocks.org

Follow Community Reach of Montgomery County on LinkedIn, Facebook, and Instagram

Visit Montgomery announces launch of MoCo Eats Food & Beverage Showcase

The new initiative will bring the food & beverage industry and its suppliers together, and includes opportunities for both businesses and consumers to connect

Rockville, MD, Oct. 9, 2024 – Visit Montgomery is pleased to announce the launch of the MoCo Eats Food & Beverage Showcase scheduled for March 30 & 31, 2025, at the Hilton Rockville, Maryland.

Montgomery County, Maryland, is home to a robust hospitality and tourism sector, serving as a major workforce hub and think tank for the industry. Global leaders such as Marriott International, Ritz Carlton, Choice Hotels International, Inc., and Sodexo all have their headquarters in the county. Montgomery County has over 900 restaurants, 30,000 small businesses, and over one million residents of culturally diverse backgrounds.

“Montgomery County has always been a place where innovation and culture come together, and the MoCo Eats Food & Beverage Showcase is a perfect example of that,” said County Executive Marc Elrich “This event not only celebrates our diverse food scene, but it will also support the local businesses that make our community thrive. I’m excited to see how this showcase will help drive our economy forward by spotlighting the talent and creativity that Montgomery County is known for.”

Visit Montgomery through this new initiative; MoCo Eats Food & Beverage Showcase will provide an opportunity for business and consumer connections. The event will bring the food & beverage industry and its suppliers together to learn more about new products, and participate in panel discussions and other educational breakout sessions. The conference agenda will include breakout sessions on topics relative to the needs of the industry, student-to-business open forums, and exchanges and opportunities for peer-to-peer discussions. Attendees will be invited to enjoy food and beverage tastings, learn more about local and regional products, and purchase items.

“The MoCo Eats Food & Beverage Showcase not only celebrates our county’s cultural diversity through food but also strengthens our commitment to education and workforce development,” said Andrew Friedson, Montgomery County Council President. “By partnering with Montgomery County Public Schools and Montgomery College’s hospitality programs, this event provides students with hands-on experience and direct exposure to industry leaders. It’s an exciting opportunity to foster the next generation of culinary talent.”

Montgomery College and Montgomery County Public Schools hospitality program students will have a chance to help as volunteers, and participate in breakout sessions and cooking demonstrations. Visit Montgomery is also collaborating with the MoCo Food Council and the Restaurant Association of Maryland for the Showcase.

Invited vendors include food trucks, caterers, breweries, wineries, distilleries, locally made artisans and food products, event venues, and any suppliers to the hospitality industry businesses in Montgomery County, MD. The goal of the showcase is to:

Engage the hospitality industry suppliers in a business expo format with the local entertainment venues, event venues, hotels, retailers, breweries and wineries, and restaurant operators/owners to connect their business and workforce needs with solutions in a trade show and educational format.
Promote the county’s social economy by introducing and showcasing local flavor and entrepreneurial spirit in a consumer-attended expo that celebrates Montgomery County’s diversity through cuisine and beverage tastings (food trucks, restaurants, wineries, and breweries).

“By bringing together industry leaders, local businesses, and our community, this showcase highlights the exceptional talent in our region and reinforces Montgomery County’s position as a premier destination for culinary innovation. We are proud to lead this initiative that will shape the future of our hospitality sector,” said Kelly Groff, President & CEO of Visit Montgomery.

Join this exciting celebration of Montgomery County’s hospitality industry. Keep up to date for more information at MoCoEats.com.

Sign up to be notified when vendor registration is open.

Sign up to be notified when attendee ticket sales are open.

For sponsorship information, click here.

For more information about the event and to RSVP, please email Joe Doran, Community Engagement and Partnership Manager, jdoran@visitmontgomery.com.

About Visit Montgomery

Visit Montgomery’s mission is to market and develop the county and its communities as a preferred destination for group and individual travel, thereby fostering economic growth and quality of place through tourism. Visit Montgomery is a 501 (c) 6 non-profit organization with an oversight by a volunteer board of directors. Learn more at visitmontgomery.com

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Author: Amanda Bosland