In an effort to ensure that the Maryland National Capital Region can emerge as quickly as possible from the expected economic hardships of the COVID-19 coronavirus, the Montgomery County Economic Development Corporation (MCEDC) has joined with its state peers in the Greater Washington metropolitan area to form a regional alliance to support an economic recovery.
A Joint Statement of collaboration formalizing the Maryland National Capital Region Economic Development Alliance (MNCREDA) was signed virtually by the leaders of the economic development organizations representing six counties: Anne Arundel, Charles, Frederick, Howard, Montgomery, and Prince George’s. The six jurisdictions combined represent 55% of Maryland’s population with 3.3 million citizens and 1.4 million jobs or over 52% of the state’s economy. Montgomery County is Maryland’s most populous county with 1.1 million residents and accounts for 25% of the state’s GDP.
“This alliance underscores the importance of the National Capital region to our state. The road to Maryland’s eventual successful economic recovery from the devastation of COVID-19 will need to be led by this region,” said Benjamin H. Wu, President and CEO of the MCEDC. “Solutions that help the region are good for each of our counties. Regional cooperation allows for a greater connection with our federal and state partners.”
“Working together, we will get through this difficult time and forge a plan for our future,” said Maryland Commerce Secretary Kelly M. Schulz. “I am very pleased that these six counties are coming together to share information, leverage assets and resources, and collaborate on ways they can support an economic recovery in the region.”
The genesis for the Joint Statement began in the Fall 2019 when the six local economic development organizations first began meeting to discuss issues of mutual concern. The document is an agreement to explore joint marketing and promotion; establish shared rules for ethical marketing; formalize protocols for communications with regard to business prospects; evaluate policy changes to address competitiveness; evaluate the joint pursuit of targeted industry sectors; engage other regional economic development partners; and strengthen cooperation in addressing emergencies such as COVID-19.
During the COVID-19 crisis, the six signatories have been teleconferencing weekly and have engaged in a strong exchange of regional shared experiences, issues, resources, best practices, and challenges. The alliance is also exploring effective engagements on the federal and state levels.
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