Montgomery County Economic Development Corporation (MCEDC) Announces Outcomes and Key Initiatives from its First Annual Meeting

Montgomery County Economic Development Corporation (MCEDC) Announces Outcomes and Key Initiatives from its First Annual Meeting

At the first annual meeting for MCEDC, the Executive Committee is re-elected, the newly appointed Interim Director is announced, and the FY2017 budget is set.

Rockville, MD – July 6, 2016 – The Montgomery County Economic Development Corporation (MCEDC) held its first annual meeting on June 13, 2016, at which it re-elected their Executive Committee for the coming year. As of July 1, 2016, MCEDC replaced both the Montgomery County Department of Economic Development (MCDED) and the Montgomery Business Development Corporation (MBDC); both entities are now officially dissolved. MCEDC is now the primary point of contact for the local, regional, national and international business community.

Key decisions and additional outcomes of the meeting include:

• Approval of the FY2017 budget, put into effect as of July 1, 2016;
• Appointment of Interim Director, Sally Sternbach, formerly of MCDED; and
• The forward effort and focus on cybersecurity, as a key initiative and the launch of the survey and analysis of the County’s IT and cybersecurity assets.

“We have made many strides and accomplishments over the past few months as we’ve worked through transitioning to become the official point of contact for the business community with the July 1st total dissolution of both MCDED and MBDC,” said Bob Buchanan, MCEDC Chairman. “We have big plans for economic development for the County and I’m proud to announce that our Executive Committee will continue to oversee the strategic development of the County in the year to come.”

In addition to Bob Buchanan, the Executive Committee includes:

• Robby Brewer (Vice Chair); Principal, Lerch, Early & Brewer;
• Ola Sage (Secretary); CEO, e-Management; CEO, CyberRx; and
• Dr. Sanjay Rai (Treasurer); SVP for Academic Affairs, Montgomery College.

As the CEO search continues to gain positive momentum, in the interim, MCEDC has made a significant step forward with the appointment of Sally Sternbach as Interim Director. Sally was the former Acting Director at MCDED from January, 2015 to June 30, 2016. She was Deputy Director of the Department of Economic Development from March 2012 to January 1, 2015. Prior to that, she was Executive Director at Rockville Economic Development, Inc. (REDI) from 2003 to March 2012.

Another major outcome of the meeting was the decision to make cybersecurity a key initiative for the County. Driving this effort, MCEDC is conducting a survey and analysis of the County’s IT and cybersecurity assets. The analysis includes SWOT (strength, weakness, opportunities, and threats) with proposed mitigation and implementation strategies. MCEDC hopes to use this analysis to prioritize investment for cybersecurity initiatives and assets. Areas to be specifically considered are: facilities and research centers, educational institutions, cybersecurity companies that provide both products and services, government contractors, NGOs, centers of influence, cybersecurity customers and prospects, and other tangible and intangible assets identified by the consultants.

For information about meetings, which are open to the public, and projects planned or underway, please visit the MCEDC website at www.choosemontgomerycountymd.com.

About The Montgomery County Economic Development Corporation (MCEDC)
MCEDC is Montgomery County’s new lead 501(c)(3) economic development organization for resident businesses and stakeholders, as well as companies, business leaders and entrepreneurs regionally, nationally and internationally. MCEDC brings a pro-active, customer-focused and results-oriented approach to maximizing business opportunity in the County. Comprised of a highly-inclusive team of 11 on its Board of Directors, the MCEDC is committed to growing the County’s vibrant business community and leveraging their expertise for the future development of businesses across the region. To find out more information and get connected with MCEDC, please visit www.choosemontgomerycountymd.com. Also, follow MCEDC on Facebook (https://www.facebook.com/choosemontgomerycountymd) and Twitter (https://twitter.com/choosemcedc or @ChooseMCEDC).