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Celebration of Montgomery College’s RISE Zone Designation with County Executive Isiah Leggett, Sen. Nancy King, and the PIC MC Foundation Board, Nov. 26
In October, the Maryland Department of Commerce 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.
In celebration of this significant milestone, join Montgomery County Executive Isiah Leggett, Sen. Nancy King and the PIC MC Foundation Board of Directors for a ribbon-cutting Monday, Nov. 26 from 2-3:30 p.m. The event takes place on Germantown Campus’ PIC MC, High Technology and Science Center (HT), Globe Hall, 20200 Observation Drive, Germantown.
“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 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. 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.
“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.”
In addition to being named a designated RISE Zone, the Germantown Campus has also been named an Opportunity Zone. Opportunity Zones provide federal tax incentives to spur investment in underserved communities by attracting investment. These incentives can spur further economic development in the form of job creation and revitalization, providing new opportunities for business, housing, and retail growth.
“The RISE Zone will encourage interaction between industry and their future workforce,” said Executive Director of PIC MC, Martha Schoonmaker. “Montgomery College students will benefit immensely from having access to real time exposure to the workplace as will the companies, which will have access to our highly skilled and talented future employees.”
Having a RISE Zone designation around its integrated academic, business, and research campus (PIC MC) in Germantown will accelerate the College’s partnership with the county, and increase efforts to leverage MC’s best institutional assets to attract businesses and jobs where they are most needed in our community.
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.