In a Montgomery County Council meeting, Council Vice President Kate Stewart announced that councilmembers had unanimously approved a $20 million allocation to help “jumpstart the local economy.” With the county experiencing 25,000 fewer jobs compared to September 2019, the council is looking for ways to attract businesses to the area.
The initiative, known as JOBS – Jobs, Opportunities, and Business Support – is aimed at creating up to 1,000 jobs, particularly in areas along the I270 and Route 29 corridors as well as in the eastern part of the county with a focus on equity. A $10 million job creation fund has been set up to provide employers with $10,000 for each new job created with a salary of at least $100,000, with a maximum of $12,000 per job. Employers must create a minimum of five jobs with salaries of at least $100,