Montgomery County Government slashes LEDC budget by 18 percent adding to its 20 percent cut in FY10

In the past two years LEDC has experienced funding cuts from Montgomery County Government by 38 percent - down from $265,000 in FY 09 to $165,000 by FY12. This has happened in spite of the fact that we have invested $700,000 of our own money in micro-loans to Montgomery County-based small businesses which is at least seven times more than what the County has been able to do with its own very lame small business micro-loan program. 

We've also fought with the banks for well over 100 homeowners in the County saving them tens of millions of dollars in mortgage investments which translates into tens of thousands of dollars in taxes saved for the County. We are also the only non-profit economic development corporation in the Wheaton area and one of the very few in the County whatsoever. I think I now understand why. For me what it boils down to is the inability of Montgomery County Government to realize that it is not the only game in town.

Rather than truly partnering with non-profit, community-based organizations that are remarkably more cost efficient and achieve substantially better outcomes than the County it fights to maintain control and waste millions of dollars in our hard-earned taxes. 

This is a travesty of the first order and I say this as a liberal, Obama democrat and friend of many in County Government.  After this just completed budget cycle I realize that we have to step it up a notch and make sure people understand the value, not just of LEDC but of all members of civil society, meaning basically all non-government actors that do the vast majority of things that government and the corporate sector cannot do and in many cases shouldn't even attempt to do.  More on that in the coming weeks.

Saludos,

Manny