Legislation aimed at reducing office vacancies was introduced by the Montgomery County Council Tuesday.
MOVE – Make Office Vacancy Extinct – is not a new program. Under the proposed legislation it will expand to allow more businesses to come to the county and for current businesses to enlarge.
The proposal put forth by members of the council’s Economic Development Committee makes the MOVE program permanent. It also removes the 20,000 square footage cap needed to qualify for the program and increases the maximum funding award from $80,000 to $150,000.
In FY23, the MOVE program supported 22 companies across a variety of industries that leased a total of 92,720 square feet.
“When we have thriving office buildings, it means more people visiting restaurants and stores, more creative innovation and productivity, and more overall economic activity. If we want a community where people can truly live, work and play, then we need to support physical places for people to work. Telecommuting is great for some people, but having office space is still a necessity for many professions and industries,” said Councilmember Evan Glass, who spearheaded the legislation.
