Release Date: Jul 1, 2009
File:

Summary:
On Tuesday, June 30, 2009, the Montgomery County Board of Commissioners approved two Economic Development/Government Equity (ED/GE) agreements with the City of Englewood.

The first involves an agreement with the City of Englewood for Byers Food Company Building Renovation Project in an amount not to exceed $50,000.  Byers Food Company will relocate from Illinois to an existing 58,000 square foot building that has been vacant for more than five years. The project will include upgrading office space and electrical service, as well as installing additional docks and a quality control room. Byers will generate 25 new jobs with an estimated payroll of $750,000. ED/GE funds will be used for interior and exterior building improvements.

The Commissioners also approved an ED/GE agreement with the City of Englewood for Creative Microsystems Building Renovation Project in an amount not to exceed $85,000.  Creative Microsystems will renovate and reuse an existing 18,000 square foot building, enabling them to retain 58 jobs with a payroll of over $3.5 million. The project will expand the parking lot, upgrade the fiber optics to the building and renovate the interior to create additional office space. ED/GE funds will be used for interior building renovations.

The ED/GE Program was established by the Montgomery County Commissioners in 1992 to attract jobs and retain the County's tax base, reduce inter-local competition for development, enable the County to successfully compete as a region in national and international markets, and to share the benefits of county-wide economic prosperity among all jurisdictions in the County.  After nine successful years, ED/GE was renewed for another ten years, beginning in 2001.  28 jurisdictions, representing 100% of Montgomery County's population, are members.

To learn more about the ED/GE program, contact the Montgomery County Department of Economic Development at 937-225-6140.