Montgomery County has a unique program to help growing companies. The Economic Development and Government Equity program (EDGE) was established in 1992 and remains a remarkably successful example of regional cooperation. EDGE offers grants to help growing companies, including manufacturers, who are expanding their operations in Montgomery County. The grants are funded by a portion of the county’s sales tax proceeds.
Twice a year, the county solicits grant applications. Each community in the county can recommend projects, based on pending development deals in their respective jurisdictions. The proposals are reviewed by an advisory committee made up of public officials from across the county. They will consider factors like the amount being invested in the project and the number of new jobs that will be created for the community. All of the projects are ranked, but only the best projects will receive funding. It is a very competitive process. After the grants are awarded, it’s time to build! The grants are paid on a reimbursement basis once the expansion or relocation is underway, with measureable outcomes that help ensure that our tax dollars are used responsibly.
Programs like EDGE encourage investment and job creation, and allow communities to show their commitment to business growth. Regardless of where you are located, there are programs designed to assist your growth needs. So if your business is growing, then now is the time to reach out to the economic development professional in your community, to find out how you can make the most of these resources.
We are lucky to have this program. I talk about some of the reasons why on the Issues page of my website (www.ashleywebb.com/issues). By looking at the projects that are being funded, it is clear that the County Commissioners are not focused where the rest of the community is when it comes to economic development.
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