In an effort to revitalize the local economy, the Montgomery County Council has allocated $20 million for a new initiative called JOBS – Jobs, Opportunities, and Business Support. This program aims to create 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.
Council Vice President Kate Stewart announced that councilmembers had unanimously approved this allocation during a recent meeting. 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 JOBS initiative includes a $10 million job creation fund that provides 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 $100,000, and the maximum amount a company can receive is $5