Rockville Business Expansion Fund

Rockville Business Expansion Fund is sponsored by Rockville Economic Development, Inc. (REDI). This fund supports existing Rockville businesses that are expanding their physical footprint.

Business Grants & Loans - Rockville Economic Development, Inc City of Rockville Business Grants & Loans Rockville MOVE Program Business Expansion Fund Small Business Impact Fund Purpose One-time grant designed to help attract businesses to the City of Rockville that occupy office, industrial, flex & retail space. May be combined with Montgomery County’s MOVE Program for an even greater financial impact.

One-time grant designed to help retain businesses in the City of Rockville that occupy office, industrial, flex & retail space as they expand to a larger space. Designed to help qualified, small- or medium-sized businesses scale through specific projects that strengthen business development, such as marketing, tenant improvements, signage & facade upgrades, and equipment purchase or upgrades.

Existing Companies No Yes Yes New Companies Yes, relocating or expanding from outside Rockville’s corporate city limits or start-ups moving into their first commercial space. No No Space Use Office, Industrial, Flex & Retail Users Office, Industrial, Flex & Retail Users Office, Industrial, Flex, Retail Users & Co-working space Square Footage Leased or purchased space must be: Minimum 500 s. f.

for retail use Minimum 1,000 s. f. for Office, Industrial, or Flex use Leased or purchased space must be: Minimum 500 s.

f. for retail use Minimum 1,000 s. f.

for Office, Industrial, or Flex use Lease Length (Years) Minimum 3 Years Minimum 3 Years Minimum 1 Year Must be moving into the City limits and the location is the first in the City. Applicant can operate in any industry sector. Good standing with the city, county & state.

Be an existing business within the City limits of Rockville . Applicant can operate in any industry sector. Good standing with the city, county & state.

Be an existing business within the City limits of Rockville . Identify project to scale business. Describe how business contributes to the public and/or offers substantial public benefits.

Applicant can operate in any industry sector. Must be in leased, coworking, or owned space within City limits. Good standing with the city, county & state.

Businesses need to be in operation for a minimum of 3 years. Performance Period Three Years Three Years Depends on grant amount Must schedule meeting with designated REDI staff prior to submitting their application. For more information, call (301) 315-8096 or email Richelle Wilson at Richelle@RockvilleREDI.

org . Designated REDI staff will verify that all applicants meet eligibility requirements. Submit online application .

Incentive Review Committee approval. Read the Incentive Review Process . Approved applicant provides proof of occupancy.

Applicant receives grant letter. Must schedule meeting with designated REDI staff prior to submitting their application. For more information, call (301) 315-8096 or email Richelle Wilson at Richelle@RockvilleREDI.

org . Designated REDI staff will verify that all applicants meet eligibility requirements. Submit online application .

Incentive Review Committee approval. Read the Incentive Review Process . Approved applicant provides proof of occupancy.

Applicant receives grant letter. Must schedule meeting with designated REDI staff prior to submitting their application. For more information, call (301) 315-8096 or email Richelle Wilson at Richelle@RockvilleREDI.

org . Designated REDI staff will verify that all applicants meet eligibility requirements. Submit online application .

Incentive Review Committee approval. Read the Incentive Review Process . Applicant signs agreement.

Applicant submits periodic performance reports. Must meet with MWBC business counselor every 3 months to assess the progress of the project(s). Benefit Type Grants paid out after occupancy permit is received, or proof of occupancy is provided.

Grants paid out after occupancy permit is received, or proof of occupancy is provided. Grants paid out after agreement is signed. Incentive Range* Maximum Amount is $40,000 * All grants are subject to availability of funds.

Maximum Amount is $40,000 N/A Application Deadlines September 30 and April 30 September 30 and April 30 September 30 and April 30 Apply Online Apply Online for the Rockville MOVE Grant . Apply Online for the Rockville Business Expansion Fund . Apply Online for the Rockville Small Business Impact Fund .

Read the Incentive Review Process County and State Programs Montgomery County, Montgomery County Economic Development Corporation (MCEDC), TEDCO, and the State of Maryland offer a wide range of resources, funding, and incentives to start, grow, and expand your business.

We have highlighted some of these economic development programs on this page, but for a complete list of opportunities, visit: Montgomery County, Maryland, Business Funding & Incentives Montgomery County Economic Development Corporation Incentives State of Maryland Business Incentives Montgomery County MOVE Program from Montgomery County for New or Relocating Businesses One-time grant to businesses that are signing their first commercial lease in Montgomery County or expanding their existing lease by at least 500 square feet of office space.

The minimum term of the inaugural (new) or expanded lease is 36 months, excluding retail, restaurant, and independent financial or insurance agent/broker establishments. Eligible businesses may receive a grant of $8. 00 – $15.

00 per square foot (maximum of $150,000), for office space, based on the eligible square feet and type of lease. Application must be submitted on or before 180 days of the lease execution Other eligibility requirements, supporting documents, and exclusions apply. For more information, contact Montgomery County Business Center at (240) 777-0311 or BusinessCenter@MontgomeryCountyMD.

gov . Montgomery County Job Creation Fund from Montgomery County for Employers One-time financial incentive to growing companies in the County that meet certain job creation targets within a designated timeframe. Companies deemed eligible could receive up to $500,000 for creating high-paying jobs within target growth industries.

Employers based in Montgomery County that are company headquarters or national nonprofit organizations, or in one of the industries listed below should apply. Quantum Computing Technology Other eligibility criteria, supporting documents, and requirements apply. For more information, contact EconomicDevelopmentFund@montgomerycountymd.

gov . Montgomery County Economic Development Grant & Loan Program from Montgomery County for New or Existing Businesses Offers financial assistance to private employers that retain or stimulate new job creation in Montgomery County. Priority given to the following businesses: high technology companies businesses located in urban revitalization areas, and private employers providing the greatest public benefits.

The typical assistance amount ranges from $5,000 to $100,000. Higher amounts are possible for businesses involved in large projects. For more information, contact the Montgomery County Business Center at (240) 777-0311 or BusinessCenter@MontgomeryCountyMD.

gov . Video Lottery Terminal Fund (VLT) from the State of Maryland for Small, Minority, and Women-owned Businesses Funding available for small businesses (less than 500 employees), minority-owned businesses, and women-owned businesses.

At least 50% of the VLT allocations will be distributed to qualifying businesses located in targeted areas surrounding six Maryland casinos: Hollywood Casino Perryville (Cecil County) Horseshoe Casino (Baltimore City) Maryland Live (Anne Arundel County) National Harbor (Prince George’s County) Ocean Downs (Worcester County) Rocky Gap (Allegany County) The other 50% will be available to qualifying small, minority, and women-owned businesses located throughout Maryland.

For more information or to apply, contact the VLT fund manager for your area. Complete contact information can be found here .

Build Our Future Grant Pilot Program from the State of Maryland for Technology Businesses Provides grants for innovation infrastructure projects designed to transform and accelerate growth in the following eligible technology sectors: Energy and Sustainability Grants may be awarded to private companies (including publicly held companies), nonprofit entities, local governments or colleges and universities in Maryland and may be used to defray the cost a grantee incurs to acquire, construct, rehabilitate, install, improve, or equip an eligible innovation infrastructure project.

This program is scheduled to be open until 2027, and consists of a two-phase application process, detailed here . Neighborhood BusinessWorks Program from the State of Maryland for New or Expanding Small Businesses and Nonprofit Organizations Loan program that provides flexible gap financing to new or expanding small businesses and nonprofit organizations in Sustainable Communities and Priority Funding Areas throughout the state.

Loan amounts up to $5 million are available. Flexible applicant cash contribution is required. Other criteria & conditions apply.

Eligible projects and uses of funds include: Mixed-use projects of combining residential and commercial uses in the same building New construction or rehabilitation Certain other costs associated with opening or expanding a small business For more information, contact the Business Lending Team at (301) 429-7408 or dhcd. businesslending@maryland. gov .

Partnership for Workforce Quality from the State of Maryland for New or Existing Businesses Provides matching training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies. Grants are used to increase the skills of existing workers for new technologies and production processes, improve employee productivity, and increase employment stability.

Assistance is used to reimburse up to 50% of the costs of qualified projects, with a minimum grant of $10,000 and a maximum grant of $200,000. At least 60% of the funds must go to small businesses with fewer than 150 employees. For more information and to apply, contact the regional representative who covers the county or region where you are located .

from the State of Maryland for Existing Businesses Training grant funds to upgrade the skills of current employees for private sector businesses with 500 employees or fewer, primarily those providing in-demand products or services. Assistance is limited to $4,500 per employee with a $40,000 limit per employer each program year. Companies must match awarded funds.

The following types of activities and items are considered allowable training costs: Classroom-based training designed to meet the specific requirements of a business Other opportunities for Maryland’s businesses as they create and foster their talent pipeline. For more information, contact the Department of Labor at (410) 767-2173 or email dlwdalbusinessservices-labor@maryland. gov .

from the Maryland Department of Commerce in partnership with the SBA for Existing Businesses Helps to offset the costs of marketing internationally for small and mid-sized companies. Up to $5,000 in reimbursement for expenses associated with an international marketing project including trade show fees, airfare, translation of brochures, and website development.

In addition, recipients can also receive assistance from the Maryland Office of International Investment and Trade .

Qualifications for businesses are as follows: Operating in Maryland and in good standing with the Department of Assessments and Taxation Been in existence for at least one year Has not received an ExportMD Award in the last year Is a “small business” as defined by the SBA Planning an international business initiative to commence and conclude within six months of the application deadline For more information, contact Jason Callejas at (667) 263-9354 or jason.

callejas@maryland. gov . Maryland Nonprofit, Interest Free, Micro-Bridge Loan from the Maryland Department of Commerce for Qualifying Nonprofits Short-term financing support to qualifying nonprofit entities between the award date of a government contract and the actual receipt date of those awarded funds.

Loans up to $25,000 to support the operations (operating expenses only) of nonprofit entities. Loan repayment must be no later than the date of the final grant or contract payment to the nonprofit entity. Written confirmation from the government entity issuing contract funds is required.

Organizations must be located in Maryland and be an IRS-designated, tax-exempt entity under Section 501(c) (3), (4), or (6) under the Internal Revenue Code. For more information and to request an application, contact Les Hall at (410) 767-6963 or les. hall@maryland.

gov . from the Maryland Technology Economic Development Corporation (TEDCO) Helps fund and grow the next generation of outstanding early-stage technology-based businesses in Maryland. To be eligible, companies must have: Headquarters in Maryland where at least 50% of employees work; Begun operations within 7 years of application date; and Received less than $30,000,000 in funding (not including TEDCO funding or grants).

Investments can range from $500K to $1. 5M. For more information, email Katherine Hill Ritchie at khillritchie@tedcomd.

com . Visit our Seed and Early Stage Funding page for additional financial resources for start-ups.

Maryland Innovation Initiative from the Maryland Technology Economic Development Corporation (TEDCO) for Faculty and Maryland-based Start-up Companies at Qualifying Universities Collaboration between the State of Maryland and seven Maryland academic research institutions: Frostburg State University University of Maryland, Baltimore University of Maryland, Baltimore County University of Maryland, College Park Advancing innovative technologies from lab to market, this program was designed to promote commercialization of research conducted in these universities and leverage each institution’s strengths.

Funds up to $430,000 for “Sole Applicants” through two phases of the program. Each applicant is required to engage with a Site Miner–individuals selected by the Qualifying Universities to assist faculty and start-ups—at least 30 days before application submission. For more information or assistance, contact Silvia Goncalves at sgoncalves@tedcomd.

com . Maryland Funding Incentives Choose an Industry (required) Are you a Small Business? (required) Choose an Industry * Select Bio/Tech/Health Professional Services Creative Industries Hospitality Are you a Small Business?

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