Financial Sector Helped Montgomery County Add 25,000 Jobs in Two Years

An outside company tallied the rate of job growth at 3.9 percent from 2010 to 2012, according to a report from county government.

Employers in the financial sector that included The Financial Industry Regulatory Authority (FINRA) and Capital One led the list of companies that have added the most jobs in Montgomery County since 2010, according to a release from county government.

The county's job growth rate from 2010 to 2012 was 3.9 percent, the release stated, higher than those of bordering jurisdictions Fairfax, VA (3.6 percent) and the District of Columbia (2.8 percent.) Overall, 24,670 jobs were added during the period. The data was provided by Economic Modeling Specialists International, a private firm that provides jobs data on the county level. 

FINRA, which operates four offices in Rockville, added more jobs than any other company, the county said, with 330 jobs in two years. The next three big job creators were: Capital One, of McLean, VA, (nearly 300 jobs), Henry M. Jackson Foundation, of Bethesda, (more than 200 jobs) and MedImmune, of Gaithersburg, (more than 200 jobs).

“The positive job growth in the county from 2010-2012 is good, but we can’t stop there,” said Montgomery County Executive Isiah Leggett (D). “We can do even better."

Leggett noted the work of the county's department of economic development, led by Steve Silverman, to reach out to companies looking to do business here. 

"This outreach ranges from strategic grants and loans in targeted industry sectors, to assistance with permits, zoning, and site selection to initiating or facilitating partnering and networking opportunities,” said Leggett.

And, also, a high-end advertising campaign targeted to the patrons of American Airlines and US Airways. A three-minute video about the county aired in-flight for the month of April, the release said, as well as a full-page ad in US Airways' in-flight magazine. Lobby monitors at Bethesda North Marriot Hotel and Conference Center will begin to play the ad soon, the county said. (Watch the video, here.) 

ED May 06, 2013 at 06:28 PM
I'm surprised the Westfield expansion didn't make the list. According to Executive Leggett, the County invested $4 million dollars for the Costco expansion to add 300 construction jobs and 475 retail jobs. The construction jobs should have been occurring during the 2010-2012 time frame. Perhaps we'll read about the 475 retail jobs in two years.
jag May 08, 2013 at 02:55 AM
Great news.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »