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Committee reviews Economic Development Fund and MOVE demand; staff warn of supplemental needs
Summary
The Economic Development Committee reviewed the FY26 Economic Development Fund, heard that the MOVE program's demand may exceed current allocations (projected ~ $1.5M), and asked staff for a consolidated 'toolbox' of incentives; council staff flagged options for handling prior one-time Purple Line grants and potential reductions to EDF.
The Montgomery County Economic Development Committee examined FY26 proposals for the Economic Development Fund (EDF), discussed rising program demand and options for converting prior one-time grants into ongoing appropriations.
Council staff told the committee there is just under $1 million projected in EDF rollover and that last year's $900,000 for Purple Line small-business impact grants was explicitly called one-time in the executive transmittal. Staff outlined options for the committee, including keeping the executive's recommendation as transmitted, removing $150,000 so MOVE would be budgeted at $1.5 million, or removing $900,000 and placing it on the reconciliation list.
Dennis Hetman of the Department of Finance said MOVE was budgeted at $750,000 but peaked near $2 million this year and is estimated at roughly $1.5 million next year. Hetman urged approval of needed EDF resources now to avoid returning later for supplemental appropriation requests. Council members asked which other tools and funds are available; staff and finance representatives detailed other programs (jobs grants, founders and technology innovation funds, SBIR match, biotech investor tax credit and state incentives) and agreed to prepare a consolidated, user-focused summary of the county's economic-development "toolbox."
Several committee members described strong early outcomes from MOVE and related programs—business expansions, startups and relocations—and said they support the executive packet as presented while requesting clearer fiscal maps of available incentives.
