Business Expansion Fund

Target Applicants
The Business Expansion Fund is open to existing Rockville businesses expanding their operations within the corporate limits of the City of Rockville. Ideal applicants are businesses that strengthen the City’s economy by creating jobs in high-growth industries and investing in the quality of their facility.

Overview
The Business Expansion Fund is designed to support existing Rockville businesses that seek to lease or purchase additional Class A or B office, industrial, retail or flex space to accommodate their growing needs. Businesses expanding within the corporate limits of the City of Rockville are eligible to receive a grant in the amount of up to $4.00 per square foot for the additional space occupied, with a maximum grant amount of $40,000 per application. Grants are subject to the amount of available funding at the time of application. There are two application deadlines each year–September 30 and April 30. Applications received after each deadline will be considered in the next review cycle.

Application Process

• Complete the online application.

• Provide the required supporting documentation via the online application or email as outlined in the program guidelines.

• Submit application and supporting documentation by REDI’s application deadline–September 30 or April 30. Once all documentation is received, REDI will review the application and determine eligibility.

• Eligible applications will be forwarded to a City-appointed committee for funding determination.

Please note that as a condition of receiving a grant, businesses must provide updated information (e.g., number of jobs, average employee salary, space occupied, etc.) annually to help REDI evaluate the program’s impact.

For more information, email Richelle Wilson at Richelle@RockvilleREDI.org or call (301) 315-8096.