Editor’s note: This story was originally published at 11:29 a.m. on Jan. 9, 2025. It was updated at 3:32 p.m. on Jan. 9, 2025 to include a statement from County Executive Marc Elrich.
Montgomery County Economic Development Corporation (MCEDC) president and CEO Bill Tompkins is stepping down, the Washington Business Journal first reported Thursday.
According to an MCEDC news release, Tompkins will step down when his contract ends in August 2025. He assumed the role in August 2022. Tompkins has been with the organization since 2019 and served as its executive vice president and chief operating officer.
“I am immensely proud of what we’ve achieved together, and I want to express my heartfelt gratitude to our board members, staff, partners, and the community for their support and collaboration throughout my time here,” Tompkins said in the news release. “As I prepare for this change, I remain dedicated to ensuring a seamless handover and continued success for the organization.”
MCEDC serves as the official economic development entity for Montgomery County and is funded by the county government as a 501(c)(3) nonprofit public-private partnership. The 9-year-old organization is often involved in administering county grants designated for small or local businesses.
Tompkins told the Washington Business Journal that it is time for “new blood” in the organization, and that he is not retiring, but seeking another role.
Tompkins spoke to Bethesda Magazine in 2023 about his mission for the organization.
“It’s one of the largest economies in the country for a county,” he said. “We want to make sure that it grows, that it’s more robust and that people understand when they’re dealing with Montgomery County that there’s a lot going on here businesswise.”
The MCEDC board will begin a search for Tompkins’ successor, and a transition committee has been established, according to Elana Fine, chair of the MCEDC Board of Directors.
County Executive Marc Elrich (D) thanked Tompkins for his service in a statement sent to Bethesda Today via email.
“Bill has worked to strengthen the County’s economic development efforts, sharpening the focus on key industries like life sciences, hospitality, and technology while improving the organization’s marketing and outreach strategies,” Elrich wrote. “I’ve appreciated Bill’s partnership as we advanced significant projects that are vital to our County’s future, including the University of Maryland Institute of Health Computing in North Bethesda, the North Bethesda Metro Station redevelopment, the Viva White Oak project in East County, and expanding our international business engagements.”
Elrich said he would support the MCEDC Board of Directors in finding Tompkins’ successor.
This story will be updated as more information becomes available.
