New Montgomery County Initiative to Help Fill Vacant Office Space
Montgomery County, MD, March 18, 2014 (MONTGOMERYCOUNTYMD.GOV) – Montgomery County Executive Ike Leggett today announced the latest County initiative to continue support for the County’s innovation economy. The MOVE (Make Office Vacancies Extinct) Program is designed to attract life sciences, IT, cybersecurity and green technology businesses to Montgomery County. These are the technology-based sectors critical to the County’s economic future.
“MOVE is an innovative program targeted at attracting emerging technology companies to the County. Our local real estate sector has told us they believe it will make a difference and help them fill existing, vacant office space throughout the County,” said County Executive Ike Leggett.
The program will reduce Class A and B office vacancies by offering a $4 per square foot rent assistance for year one on new commercial leases of at least three years and at least 2,000 square feet to companies that are newly formed in or relocate to the County.