Economic Development
MCEDC and incubators that trail Virginia on every metric
FY2026 budget: $5.2M+ MCEDC
Montgomery County Economic Development Corporation
MCEDC, a 501(c)(3) designated as the county's official economic development arm, began operations in FY2017. The Council approved more than $5.2 million for MCEDC in FY27, plus Economic Development Fund and small-business NDAs. MCEDC has had multiple CEOs in under a decade. A county economic indicators report found Montgomery County's per capita income growth ranked 28th out of 30 peer counties, with Fairfax County outperforming "in all metrics."
Business incubators
The county runs business incubators (Germantown, Rockville, Silver Spring Innovation Centers). A February 2025 OLO report found that incubators with significant scientific equipment are typically university-affiliated, not county-government-run. Graduation and capital-raised metrics collapsed in 2024 relative to prior years; FY27 continues incubator NDA funding above $2 million.
FY27 progressive income tax
The Council rejected Elrich's across-the-board local income-tax increase and instead adopted a progressive structure: reduced rates on the first $150,000 of income and 3.3% above $150,000, while also rejecting a ~6.1% property-tax rate increase. High earners and businesses evaluating MoCo vs. Fairfax now face a clearer top-rate differential alongside the longstanding per-capita spending gap.