Virginia currently enjoys a 3.2% unemployment rate, compared to 4.3% in Maryland. According to Aaron Gregg of the Washington Post, job growth in suburban Maryland counties has "softened" further. He quotes Fuller as noting Montgomery County doesn't have the private sector federal contractors that could benefit from the Trump administration's massive boost in defense spending.
|Only one candidate can get Montgomery County's|
moribund economy moving again.
CHANGE YOUR VOTE - CHANGE THE COUNTY
Montgomery County has notoriously failed to attract defense and aerospace contractors - and any major corporate headquarters at all - over the last two decades. And the County Council has made aggressive moves in recent years to urge existing aerospace firm Lockheed Martin to leave the County, moves that even earned them a rebuke from their Democratic peers at the state level. "We don't need the Lockheed headquarters," Councilmember Nancy Floreen infamously told residents at the Aspen Hill Library in 2010. The Council removed a second Potomac River crossing to the Dulles area - an essential piece of infrastructure to compete with Northern Virginia for government contractors and international business firms - from the County's master plan. And it failed to win the Northrop headquarters, which ended up in - where else? - Northern Virginia.
In the Fuller Institute's June report, the authors wistfully recall the greater regional balance of decades past, when Montgomery County used to be a major player in the region, and Northern Virginia usually only accounted for 50% of regional job growth - not today's whopping 80%. To underline the stakes in the regional competition for the supposed 50,000 jobs of Amazon's HQ2, that job number is only 1500 less than the number of jobs created in the whole region between June 2017 and June 2018.
|Montgomery County Council lead economic|
advisor Vladimir Lenin
With fellow travelers like these, is it any wonder Montgomery County's economy is circling the drain?