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Judy Costello serves as the Director of Economic Development Special Projects at Montgomery County, Maryland’s government in the Office of the County Executive, where her role centers on strengthening innovation, supporting business expansion and attracting strategic investment. Her work involves bringing together public agencies, private companies, educational institutions and community partners to drive long-term regional growth.
In an exclusive interview with Govt CIO Outlook, Judy Costello shared her perspective on managing complex economic development initiatives, aligning multiple stakeholders and measuring success beyond immediate economic growth.
Managing Complex Economic Development Initiatives
Economic development is diverse and often operates in a highly visible public environment. In managing complex initiatives, clear and transparent communication, meaningful stakeholder engagement and shared goals are essential. When multiple agencies and partners are involved, clarity builds trust and projects move forward in the right direction.
Ability to pivot is equally important. Economic conditions and global markets shift quickly. Leaders must remain adaptable while staying focused on long-term objectives. Setting expectations early and being consistent in communication prevents unnecessary obstacles as projects move forward smoothly.
Driving Growth Through Innovation
Economic development focused job growth occurs primarily through three pathways: innovation and entrepreneurship -- where ideas are turned into new products and services; business growth support for companies already in the region, and new business attraction.
One recent initiative in Montgomery County has been the implementation of $7 million in commercialization awards to support innovative technology startups. I worked to help structure and implement a fair process to distribute those funds in a way that moves as many ideas as possible closer to the market. This program focused on advanced industries such as biotechnology, cleantech, and artificial intelligence, which require a longer timeline to get to market but can deliver significant impact.
We also are strengthening our incubator network through public-private partnerships by bringing in a third-party operator to expand programming, 1:1 technical support, and shared equipment. These efforts will provide more resources to help entrepreneurs not only in the incubators but also elsewhere in the County to turn their ideas and early stage products into sustainable businesses.
"Economic development succeeds when communication is clear, stakeholders are aligned and everyone works toward a shared vision."
Whether they are entrepreneurs, mid-size companies, or large corporations, ensuring the growth of our existing companies is critical. When businesses expand, they often require support from permitting offices, transportation teams, utilities, and workforce partners. I’m happy to say that our County leaders – transportation and permitting office directors – value the importance of supporting projects which bring jobs to the County. Being responsive within our regulatory system allows companies to grow smoothly with confidence.
Workforce Alignment and Investment Attraction
Workforce development is a key priority. In Montgomery County, we are fortunate to have strong universities, a leading community college and solid K–12 schools. Collaboration among these institutions helps to prepare talent that meets employer needs and aids long-term growth.
To attract external investment, we offer incentives based on capital investment and job creation. Smaller businesses may receive assistance for office or laboratory space, while larger organizations, including pharmaceutical, space communications and other technology companies, may qualify also for state funding.
However, incentives alone are not enough. Quality of life plays a vital role. Strong schools, parks and recreation, healthcare access and a welcoming, diverse community make Montgomery County an attractive location for global innovators, manufacturers, sales teams, and their employees. Access to information in multiple languages and inclusive services further strengthen our position.
Bringing multiple agencies together requires a customer-focused mindset. I prioritize open, responsive communication and work to ensure stakeholders are working towards a shared mission.
Success often means helping businesses navigate regulatory processes. By connecting them with department leaders and encouraging teamwork, challenges can be solved efficiently while still meeting safety and legal requirements. Finding smarter ways to deliver services contributes to lasting results.
Measuring Impact and Leading with Purpose
Traditional measures such as job growth and tax revenue remain important because they support public services and improve the quality of life. At the same time, I evaluate success from both a broader, long-term view and a day-to-day perspective.
From a long-term perspective, economic development success strengthens our County’s economic base and enables our government to provide more services not only to businesses but also – and primarily – to residents. On a day-today level, this success requires a customer services approach, and building partnerships, solving regulatory issues, connecting businesses with each other, and with academic, government and nonprofit resources.
In industries like biotechnology, results take time. Progress takes years. Whether it’s biotechnology or other industries, managing expectations and sharing information prevents delays. Viewing processes from the entrepreneur’s or company client perspective makes it easier to work together and creates a more supportive environment. I am part of a larger team, and major initiatives depend on senior leadership and teamwork across institutions. My role is to help shape the vision, build partnerships, and move projects forward. Sustainable success comes from collective effort.
Beyond strategy and execution, leadership style also shapes long-term impact.. Vision and partnerships are essential, but sustainable progress depends on aligning stakeholders so that they share a long-term vision and can funding, regulatory support and legislative backing. When partners see how an initiative advances their priorities, they are more likely to support it and share in the credit. I think my approach is quiet leadership. What matters most to me is meaningful business growth and measurable outcomes…connections for impact. Lasting impact comes from collective success rather than individual recognition.
Economic development at our level in the County is about creating jobs in a way that provides more resources for residents. When innovation and legacy business are supported and businesses grow, communities become stronger and more competitive. Sustainable progress is never the result of one effort, but of shared commitment, steady leadership and a focus on measurable outcomes. What keeps me motivated is making connections for measurable impact.
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