Businesses that receive economic development money from Montgomery County soon might have to share some of their profit with the county government.
A bill being introduced in the Montgomery County Council would give the county up to 25 percent ownership in companies that receive economic development funds. That means if a company is successful, the county can profit off it.
Steve Silverman, director of the county Department of Economic Development, said the county currently gives forgivable loans to companies that promise to create a certain number of jobs and occupy a certain amount of space in a certain time period. He said it makes sense for the county to consider having a stake in companies it invests in.
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