The Trachtenberg Office joined Montgomery County Council President Nancy Floreen, members of the County Council, representatives of County Executive Isiah Leggett and the leaders of some of the most prominent businesses located in the Washington area to announce a proposal to form a new Montgomery Business Development Corporation (MBDC) that will have the County’s Department of Economic Development join with private businesses to promote business development in the County.
The announcement of the County Council bill authorizing formation of the MBDC was made in the lobby of Discovery Communications World Headquarters at One Discovery Place in Silver Spring. Discovery, whose 100-plus worldwide networks include the Discovery Channel, TLC and Animal Planet, and Marriott Corporation, which is headquartered in Bethesda, are among the businesses that have pledged to be involved in the MBDC to help attract businesses of various interests and sizes to join them in Montgomery County.
“I am pleased to support the proposal for a Montgomery Business Development Corporation,” said Councilmember Trachtenberg. “I believe that, working closely and collaboratively together with the private sector, we can create a more dynamic and sustainable business and economic environment that will ensure a prosperous future in Montgomery County. Our long-term vision for the County must include plans for increasing employment and revenues, while reducing the barriers to business formation and growth. The MBDC can be an important cornerstone for restoring our County’s regional business leadership."
The bill calls for the MBDC to have a board of directors of no more than 11 members—including one volunteer officer of a Chamber of Commerce in the County. Appointees would be recommended by the County Executive, subject to confirmation by the Council. In addition, the County’s director of the Department of Economic Development, the superintendent of Montgomery County Public Schools (or a deputy superintendent assigned by the superintendent) and the chair of the County Planning Board (or the planning director assigned by the chair) would serve as ex-officio non-voting members. All voting members must either be a County resident or employed in the senior management of a company that has a significant presence in the County. Up to eight board members would represent “major” companies. One board position would be reserved for an owner of a small business and another position would be for the owner or officer of a “medium-sized” business.
Our Chief of Staff, Alan Bowser, represented Councilmember Trachtenberg at this morning’s announcement.
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