Innovation Key to Job Creation

Local economic development officials are looking to local business leaders for ideas on stimulating job growth in the county.

With unemployment at 5 percent and the recent elimination of more than 1,000 government positions, 15 percent of county staff, job creation is more important than ever, Montgomery County Department of Economic Development Steven A. Silverman told members of the Gaithersburg-Germantown Chamber of Commerce at a meeting Wednesday morning.

“We’ve had some successes, otherwise it’s an incredibly tough slog and you know that better than anyone,” Silverman said. “… I’m encouraged by the direction we’re moving in. It’s all about jobs. That’s where the focus will be and that’s where the focus should be.”

The department has begun regularly reaching out to small businesses to see what their needs are and to nurture opportunities for expansion, Silverman said.

“Most of the jobs that are created, especially coming out of a recession, are created by small businesses,” he said. “…It’s easier to keep the client you have than to get a new client.”

The department’s staff has been cut nearly in half from 46 employees to 28 in the past four years though its mission remains more critical than ever, Silverman said. In addition to compiling a list of the county’s top businesses, projects include streamlining the development process to help grow the county’s tax base and creating a $2 million revolving loan program for small businesses, he said.

“[The county executive, County Council and Planning Board] all get the fact that we need to expand our tax base because nobody’s raising their hand to raise taxes,” Silverman said. “The attitude now is ‘let’s figure out a way to get to yes.’”

The county is hoping to create a new hub for the life sciences industry in the east county near the U.S. Food and Drug Administration and a proposed Adventist HealthCare campus, Silverman said. Officials are also looking at further growth in urban areas and pursuing public-private partnerships to fund transportation improvements.

“There’s one thing that’s clear to me and that is there’s no easy solution out there,” Silverman said. “…We’ve got to figure out other ways of doing things.”