MARYLAND —Economic downturn affected many counties and states around the country. You can hear and read bad news from radio and the Internet almost every day, but it seems we don’t find the obvious suffering around our “home”-Montgomery County of Maryland. That is because Montgomery County or Maryland is very lucky by its unique geographic position. Montgomery County is within the federal triangle or at the backyard of federal government.
There are 19 federal agencies in Montgomery County. Government fuels surrounding companies almost in every industry. For example, Food and Drug Administration (FDA) and National Institute of Health (NIH) are both headquartered in Montgomery County. These two big government agencies, not only employ more than ten thousand and twenty thousand people each, but also directly or indirectly fund many biotech firms in Montgomery County. Lockeed Martin, the largest defense contractor, is close to the Pentagon, also fuels nearby companies of metro Maryland by providing more than twenty thousands of jobs.
About 1000 business representatives from more than 500 business members of Montgomery County Chamber of Commerce (MCCC) filled the conference hall at the 50th Anniversary/Annual Dinner on June 4th. Every one was in a very upbeat attitude towards this global economic recession and geared for network opportunities for future success. The whole atmosphere fit well to the theme of the dinner “A View from Here”.
Gigi Godwin, President and CEO of MCCC, commented that “although the commercial or residential realty sectors in Montgomery County were affected by this economic downturn, service sectors/hospitality businesses and IT sectors are actually flourishing. So, in general businesses in Montgomery County were not really affected. Many companies well positioned themselves by aggressively evolving and adapting to new business climate and reinvented themselves with new opportunities.”
She then stated that “Montgomery County, Maryland and metro Washington area is one of four of urban areas in the whole nation that didn’t suffer downturn, still positive in job growth. Companies of MCCC are well positioned nationally and internationally. I think there are signs that the rapid deterioration is slowing down now and the economy will get back to healthy growth soon.”
Congressman Chris Van Hollen attended the 50th Anniversary/Annual Dinner to receive the “Legislator of the Year Award”, he also pointed out that Montgomery County and Maryland are in good positions because of all the surrounding federal agencies. He said that “we are very lucky because many federal agencies are still engaging and continuing their activities, that give local economy some cushion”.
MCCC has been the “Voice of Montgomery County Business” for 50 years. Its mission is to help members succeed in business and to continue building a more vibrant, prosperous and connected community in Montgomery County.
At the dinner, it was noted that minority businesses are growing fast in Montgomery County due to its diversity and business opportunities and potential. The incoming Chairman of MCCC, William D. Eisig emphasized that business is all about competition and opportunities. “All ethnic background businesses can start and grow here as long as you are hard working,” said Eisig.
It was announced that the newly formed GovConNet will promote and market Maryland as a destination for government contracting initiatives through education, collaboration and representation, thereby fostering economic development benefiting the overall business community.
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