Businesses locating within the City of Gaithersburg can take advantage of programs and incentives offered by the City, Montgomery County and the State of Maryland. And it’s not just new employers that qualify. Programs are available to local expanding companies as well.
Assistance takes many forms - loans, grants, loan guarantees, technology transfer collaboration, venture capital. Our State of Maryland and Montgomery County economic development partners work with us to craft appropriate incentive packages. Read on to learn more about our City programs.
The City's Toolbox program offers matching grants to existing businesses (in operation for more than two years) that exhibit growth potential and provide stable, well-paying jobs.
Applicants can apply for, and receive, multiple awards. However, the maximum an applicant can receive throughout the life of the program is $50,000. All matching grants awarded under these programs are one-to-one matches and are provided on a reimbursement basis.
Eligible activities include:
- Tenant Fit-up
- Job Training
- Commercial Signage Assistance
- Demolition Assistance
- ADA and Utility Upgrades
Download the Toolbox application.
Gaithersburg has the financial ability to assist larger companies with relocation to and expansion within the City. This fund is intended to leverage significant private investment in capital expenditures and job growth with support beyond the Toolbox Program’s maximum award.
Recent Economic Development Opportunities Fund recipients have included:
- Adventist HealthCare
- Emergent BioSolutions
Maryland has designated areas of Olde Towne Gaithersburg and the Frederick Avenue commercial corridor a State Enterprise Zone. Benefits of the program include:
- Real Estate Property Tax Credits
- Income Tax Credits
- WSSC Systems Development Charge Exemption (up to $50,000 - subject to annual program maximum set by WSSC)
- Montgomery County Impact Tax Waiver
- Potential for State of Maryland Financial Assistance Programs
Our staff administers the program. Contact Tom Lonergan for details.
Gaithersburg encourages landlords to reinvest in older rental apartment buildings via the Multifamily Investment Loan program. This program was created to preserve affordable housing opportunities for residents while enhancing energy efficiency and sustainability. Types of renovation expenses which qualify for the program include roofing, windows, appliances, HVAC, insulation, structural repairs, and more. Applicants must contact the Office of Economic Development prior to executing an agreement with a contractor.