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Montgomery College Becomes First Community College in Maryland and First Location in Montgomery County to Be a Designated RISE Zone
Zones spur economic development and job creation around colleges, universities
The Maryland Department of Commerce has approved a Regional Institution Strategic Enterprise Zone, or RISE Zone, for Montgomery College’s Germantown Campus. The designation aims to spur economic development and job creation by allowing commercial and industrial businesses that move into or expand significantly within the zones to benefit from real property and income tax credits. The College’s RISE Zone is the first for a Maryland community college and the first zone designation for Montgomery County. Businesses in targeted industries, including engineering, cybersecurity, additive manufacturing, aerospace, and biotechnology, among others, will be eligible to receive increased incentives.
“These important designations will help our outstanding higher education institutions unlock more of their economic development potential,” said Governor Larry Hogan. “Strengthening Maryland’s economy is one of our administration’s top priorities, and this program plays a vital role in attracting new companies, encouraging businesses to expand, and creating jobs.”
The Germantown Campus RISE Zone covers approximately 28 acres. The RISE Zone designation will help the college develop its academic, business, and research campus, also known as the Pinkney Innovation Complex for Science and Technology (PIC MC), more fully into an innovation district; and integrate resources between academic, businesses, and community organizations.
“We appreciate the state of Maryland’s designation of Montgomery County’s first RISE Zone. This will help fulfill our vision for the Montgomery College Germantown Campus as an innovation-driven economic engine for the Germantown area, which has seen tremendous population growth in the past few decades,” said Montgomery County Executive Ike Leggett. “RISE Zone will be a timely tool to better leverage our investments in a great academic institution to stimulate more jobs and business growth.”
The PIC MC Foundation Board of Directors will celebrate this significant milestone with a RISE Zone celebration and ribbon cutting Monday, Nov. 26 from 2-3:30 p.m. on the Germantown Campus in the High Technology and Science Center (HT), Globe Hall.
Businesses that locate in the new RISE Zone will have access to the campus’s cyber lab, Bioscience Education Center, the Montgomery County-owned Germantown Innovation Center, and Holy Cross Germantown Hospital.
“Montgomery College is developing our Germantown Campus’ PIC MC into a hub of education, employment, and entrepreneurship,” said Montgomery College Acting President Stephen Cain. “The RISE Zone will further this goal while providing students with advanced market-ready knowledge and skills, and facilitating economic opportunity in our county.”
The RISE Zone program was established to leverage the economic development potential of Maryland’s higher education institutions. A business concierge at Commerce is available to help businesses in the zones identify other Maryland incentives and programs from which they could benefit, and to assist with permit and license applications. The RISE Zone designation lasts for five years.
The Department of Commerce also named Morgan State University in Baltimore City and Salisbury University in Wicomico County as newly designated RISE Zones.
About PIC MC
The Germantown Campus is home to the Pinkney Innovation Complex for Science and Technology at Montgomery College, or PIC MC, a hub of education, business, and entrepreneurship, where industry partners co-locate and actively interact with faculty and students to achieve both educational and economic success.
About Montgomery College
Montgomery College is a public, open admissions community college with campuses in Germantown, Rockville, and Takoma Park/Silver Spring, plus workforce development/continuing education centers and off-site programs throughout Montgomery County, Md. The College serves nearly 60,000 students a year, through both credit and noncredit programs, in more than 130 areas of study.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.