Economy
Montgomery County is an important business and research center. It is the epicenter for biotechnology in the Mid-Atlantic region. Montgomery County is the third largest biotechnology cluster in the USA, holding the principal cluster and companies of large corporate size in the state. Biomedical research is carried out by institutions including Johns Hopkins University's Montgomery County Campus (JHU MCC), and the Howard Hughes Medical Institute. Federal government agencies engaged in related work include the Food and Drug Administration (FDA), the National Institutes of Health (NIH), Walter Reed Army Institute of Research and the Howard Hughes Medical Institute (HHMI).
Many large firms are based in the county, including Discovery Communications, Coventry Health Care, Lockheed Martin, Marriott International, Host Hotels & Resorts, Travel Channel, Ritz-Carlton, Robert Louis Johnson Companies (RLJ Cos), Choice Hotels, MedImmune, TV One, BAE Systems Inc, Hughes Network Systems and GEICO.
Other U.S. federal government agencies based in the county include the National Oceanic and Atmospheric Administration (NOAA), Nuclear Regulatory Commission (NRC), U.S. Department of Energy (DOE), the National Institute of Standards and Technology (NIST), the Walter Reed National Military Medical Center (WRNMMC), U.S. Consumer Product Safety Commission (CPSC), and the National Geospatial-Intelligence Agency (NGA).
Downtown Bethesda and Silver Spring are the largest urban business hubs in the county; combined, they rival many major city cores.
Read more about this topic: Montgomery County, Maryland
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)