DEPARTMENT OF FINANCE JOB CREATION FUND

JOB Creation Fund Application

About the Program

In 2024, the Montgomery County Council adopted Resolution 20-491 which provided a special appropriation to launch the Job Creation Fund. The Job Creation Fund will provide a one-time financial incentive to growing companies in the County that meet certain job creation targets. Companies deemed eligible could receive up to $500,000 for creating high-paying jobs within target growth industries. 

Who Should Apply 
Employers based in Montgomery County that are company headquarters or national nonprofit organizations, or in one of the industries listed below and who will create at least five new jobs each paying $100,000 or more within a six-month period: 

• Advanced Technology 
• Cybersecurity 
• Hospitality 
• Life Sciences 
• Quantum Computing Technology 
   

Grant Amount 

Companies in the above listed industries or company headquarters* or national nonprofit organizations that create a minimum of five (5) new jobs that pay at least $100,000 annually will be awarded $10,000 per new job. If the company or organization is located in a Montgomery County Community Equity Index(CEI) disadvantaged location (as defined on this map as being in a “Highly Disproportionate – Disadvantaged,” “Moderately Disproportionate – Disadvantaged” or “Slightly Disproportionate – Disadvantaged” location),  the award per new job increases to $12,000. The maximum award that any company can receive through the Job Creation Fund is $500,000. 

Applications will be reviewed on a continuous basis. Funds will be awarded on a first-come, first-served basis upon submission of a completed application meeting all eligibility requirements until the fund is expended. 

Eligibility 

To qualify for an award, the applicant must: 

(1) have a physical location in Montgomery County for the time period required to comply with the grant terms; and 

(2) be a company headquarters* or a national nonprofit organization based in Montgomery County or an employer in one of the following industries: 

• Advanced Technology 
• Cybersecurity 
• Hospitality 
• Life Sciences 
• Quantum Computing Technology 

* “Company headquarters” means a facility where the majority of a business entity’s financial, personnel, legal, and planning functions are handled on a regional or national basis 

3) create and fill a minimum of five (5) net new qualifying positions within 6 months of applying for funding. A qualifying position is one that: 

• is newly created and newly budgeted (i.e. not one that fills an existing vacancy or previously budgeted role) 
• pays an annual base salary of $100,000, excluding the value of any employee benefits; 
• is full-time and permanent; and 
• is located in the County (i.e. the position is assigned to the Montgomery County location/payroll); and * “Full-time” means that an employee works at least 1,800 hours in a 12-month period. * “Permanent” means that the employee is on the payroll of the Company and not employed under a contract relationship. 

4) be in good standing with the State of Maryland including with the Maryland Department of Assessments and Taxation and have a valid federal tax ID and Maryland registration number; and 

5) not have any ongoing agreement with Montgomery County through the Economic Development Fund Grant and Loan Fund program to facilitate job creation. 

***Please note that a company may only receive one award through the Job Creation Fund. 

Application Process 

In order to qualify, an applicant must submit an application to the Department of Finance. The date that the application is submitted will serve as the start date for a six-month period during which the company must hire a minimum of 5 qualifying positions. If the applicant would like to hire additional qualifying positions beyond the initial 5, they would have up to an additional 6 months to complete that hiring. The company must hire all qualifying positions within one year of submitting an application. 

As part of the application, the applicant will complete a Notice of Intent form which will indicate the anticipated number of qualifying positions to be filled during the following year, as well as the anticipated hiring schedule for those positions. After the initial 5 qualifying positions have each been filled for at least 6 months, the company may request an initial disbursement for the award related to those five positions, along with any other qualifying positions that have also been filled for six months. After all of the remaining qualifying positions have been filled for at least 6 months, the applicant may request a final disbursement if needed. 

In order to request a disbursement, the applicant must verify the number of qualified positions that were actually hired and the length of time for which those positions were filled. The applicant will utilize the Job Tracking Number provided upon submission of a completed application to submit the following verifying documentation: 

(1) a list of the qualifying positions for which the applicant is seeking an award including: 

• job title 
• annual base salary 
• actual date of hire 
• confirmation that the position is located in Montgomery County in terms of payroll records and/or physical location; 
• whether the jobs are remote, hybrid or in-person; and 

(2) Maryland Unemployment Insurance Quarterly Contribution Reports (or other such report acceptable to the County) verifying the company payroll in Montgomery County showing that each qualified position was filled for at least 6 months with the qualifying positions highlighted; and 

(3) certified payroll reports in Excel format for the relevant period demonstrating that each qualified position was filled for at least 6 months and that includes for each full-time employee: 

• a unique employee/position identification number 
• the employee’s initials 
• the employee’s annual salary, and 
• the employee’s zip code of residence. 

The applicant can submit these verifying documents by emailing FIN.EconomicDevelopmentFund@montgomerycountymd.gov with the Job Tracking Number in the subject line. 

Upon review by the Department that the applicant has met the criteria of the program and pursuant to the availability of funds, an award will be disbursed. 

Reporting Requirements 

Recipients of a Job Creation Fund award may be asked to meet with the County to discuss a variety of business issues including, but not limited to, company progress, talent needs, housing and transportation challenges, supply chain needs, and sustainability and diversity efforts. 

For any questions about the Job Creation Fund, please contact FIN.EconomicDevelopmentFund@montgomerycountymd.gov. 
 
For questions about other resources in Montgomery County, Maryland, please contact: BusinessCenter@montgomerycountymd.gov. 

Some fields are required and denoted with an asterisk *

Does the company’s location reflect a composite index score of “disadvantaged” on the Community Equity Index map?

(Please enter the company address in the box at the top of this map, and zoom out to  review the “composite index score”. If the score reads “highly disproportionate- disadvantaged” or “moderately disproportionate- disadvantaged” or “slightly disproportionate -  disadvantaged”, then please click Yes; otherwise click No.)    

SUPPORTING DOCUMENTS REQUIRED

NOTE: Please re-name all files to include your Federal Tax ID# before uploading to ensure your files are bundled. Example: XX-XXXXXXX_lease.pdf

Please feel free to use this space to provide any additional information or context regarding your application.

By signing below, you certify that all information furnished herein to Montgomery County, and for the duration of your time in the Job Creation Fund Program, is and will be true and complete.

I solemnly affirm under the penalties of perjury and upon personal knowledge that the contents of the foregoing application are true.