Montgomery County's Department of Economic Development is seeking $2 million from the county's rainy day fund to attract biotech companies.
The County Council passed a bill in March allowing the department of economic development to offer biotech firms tax credits, as an incentive for them to relocate to Montgomery.
"We don't have a funding source at this point," Steve Silverman, director of the economic development department, told The Washington Examiner. "It will require a special appropriation of money that would be likely to come out of reserves."
To read the full, original article click on this link: Montgomery officials eye reserves to lure biotech firms | Washington Examiner
Author: Hayley Peterson
