Rockville Economic Development, Inc. (REDI) awarded nearly $300,000 in grant funding through its MOVE and Business Expansion programs in Fiscal Year 2025, supporting business growth across the city and resulting in 260 new jobs and more than 127,000 square feet of activated commercial space.  

The funding supported businesses across diverse industries including life sciences, healthcare, clean energy, technology, and professional services. Grant recipients expanded or relocated into commercial spaces in Town Center, King Farm, Fallsgrove, Rock East, Twinbrook, and the Pike Corridor.

The programs are also attracting investment from outside of Rockville. Twenty percent of FY25 grantees relocated operations from out of state, choosing Rockville over competing locations in Northern Virginia and Massachusetts.

“What we’re seeing is a strong return on investment,” said Nancy Regelin, Board Chair at REDI. “These programs aren’t just helping businesses grow, but are boosting Rockville’s economy, strengthening our tax base, and creating opportunities for residents across the city.”

Since their inception, REDI’s MOVE and Business Expansion programs have awarded $845,000 in funding, solidifying Rockville’s reputation as a destination for innovation, entrepreneurship, and sustainable growth.

Spectrum Fertility Group, a Massachusetts-based In Vitro Fertilization company cited REDI’s programs as pivotal in their decision to locate in Rockville:

“As a biotech startup company, it was very important to find Spectrum Fertility Group a place to set up our lab that we could really call home. After an extensive search across multiple cities, we decided on Rockville, Maryland. I think this has been one of the best decisions our company has made,” said Mike Lee, Chief Operating Officer of Spectrum Fertility Group. “The State of Maryland, City of Rockville and Montgomery County have been so biotech friendly. We love it here, and look forward to growing our business.”

For more information about REDI’s business incentive programs, visit rockvilleredi.org/business-grants-loans.

About REDI 

Rockville Economic Development, Inc. (REDI) is a public-private partnership that helps business launch, locate and expand in Rockville, Maryland. Committed to economic development, REDI is proactive in supporting existing industries and attracting new companies with the tools to get started in Rockville, and the resources and guidance for existing companies in the city. Learn more at rockvilleredi.org.