LAUREEN M. BABB
Summary
Dynamic economic development leader with a proven track record at Montgomery County Economic Development Corporation. Expert in business attraction and retention, securing over $2 million in funding for local initiatives. Adept at project management and fostering partner relationships, driving growth and innovation in diverse economic landscapes.
Overview
30
30
years of professional experience
1
1
Certification
Work History
Director of Economic Development
Montgomery County Economic Development Corporation (MCEDC)
Rockville
03.2022 - Current
- Certified Economic Developer (CEcD) led the attraction, retention, and growth of businesses in the County, focusing on commercial real estate deals, corporate headquarters expansions, and the implementation of Business Retention & Expansion (BRE) and Business Attraction Plans.
- Develop budgets for Business Development Team and oversee implementation efforts to achieve performance goals and monthly reporting requirements.
- Directly supervise four Economic Development Specialists on the Business Development team, including setting performance goals, providing regular feedback and reviews, and mentoring individuals new to economic development.
- Engaged with C-suite representatives from for-profit and non-profit companies to provide tailored assistance and foster partnerships.
- Collaborate with other Directors to create business retention/expansion and attraction plans for business team to implement during annual work plans.
- Developed policies and procedures to launch a local ACE Loan Fund, adhering to State of Maryland guidelines, to support small, minority, and woman-owned businesses with working capital and oversee the program, including managing subcontractor processes.
- Secured an additional $2.244 million in funding for the loan fund since its initial creation in June 2022.
- Provide regular reports and presentations to a variety of audiences including the County Council, MCEDC Board of Directors, and local civic groups and organizations.
- Established collaborative relationships with local economic development and business organizations to drive local economic growth.
Economic Development Manager
Montgomery County MD Government
Rockville
06.2018 - 03.2022
- Managed and oversaw $2M+ annual economic development financial incentive programs and administered 10 contracts with third party vendors providing economic development services on behalf of the County.
- Supervised six professionals, fostering team collaboration and enhancing project delivery.
- Developed policies and procedures while overseeing strategic emergency grant programs totaling $52 million to support businesses during the global health pandemic.
- Prepared all budgets related to the economic development programs administered by the Office of the County Executive, including the County’s Incubator fund, the Conference Center budget, and the Convention and Visitors Bureau budget; assisted with budget preparation for the Department of Finance’s Economic Development Fund.
- Served as a strategic and technical advisor to the County Executive and County Council, the Director of Finance, and other senior managers in evaluating new programs and incentives for supporting new and existing businesses.
- Partnered strategically with the Montgomery County Economic Development Corporation (MCEDC) and the Maryland Department of Commerce on business attraction and retention efforts.
- Professional memberships: Maryland Economic Development Association (MEDA) – member of the Council of Past Presidents, MEDA Foundation Board Secretary, International Economic Development Council, Maryland Association of Counties, Leadership Montgomery.
Executive Director
Rockville Economic Development, Inc. (REDI)
Rockville
05.2012 - 06.2018
- Managed overall operations, strategic planning, and activities of a public-private 501(c)(3) organization focused on economic development, business growth, and entrepreneurial support in Rockville, Maryland.
- Prepared and oversaw budget of approximately $575,000 annually.
- Oversaw all banking and financial management aspects of REDI’s cash and investments.
- Developed and instituted REDI’s annual financial audit process utilizing an external auditing firm.
- Secured funding and oversaw implementation of Rockville’s Business Incentive programs to enhance local economic growth.
- Developed and delivered annual financial and budget overview to Rockville City Council and REDI Board, ensuring transparency and accountability.
- Led marketing strategy for REDI, focusing on business attraction, retention, entrepreneur support, and placemaking initiatives.
- Collaborated with City staff on projects related to economic development, i.e., Rockville 2040 Comprehensive Master Plan Update, Rockville Pike Area Plan, etc.
- Partnered with Local, County and State colleagues on economic development strategies and projects for Montgomery County.
- Professional memberships: Maryland Economic Development Association (MEDA) – member of the Council of Past Presidents, MEDA Foundation Board Secretary, Greater Washington Board of Trade (BOT) Council of Economic Development Officials Chair, International Economic Development Council, Rockville (MD) Chamber of Commerce Board member, Montgomery County Chamber of Commerce, NAIOP Commercial Real Estate, Leadership Montgomery.
Executive Director/Department Head
Frederick County MD Government
Frederick
06.2007 - 02.2012
- Managed a 40-person division, including the Office of Economic Development (OED) and the Department of Workforce Services.
- Prepared and managed OED annual budget of over $1 M.
- Developed policies and procedures for local incentive processes.
- Managed and implemented the Small Business Revolving Loan Fund, which involved monthly cash payments, approving new cash awards, and foreclosing on delinquent loan recipients.
- Actively prepared for and participated in presentations to bond counsel and bond rating agencies.
- Facilitated strategic planning and goal setting for OED staff and Business Development Advisory Council.
- Spearheaded marketing of OED services and business attraction outreach, leading marketing campaigns, website redevelopment, and collateral development to enhance visibility and engagement.
- Prospected and developed potential business clients for location in Frederick County, from entrepreneurial start-ups to large established firms.
- Oversaw Business Retention and Expansion program.
- Worked with developers and businesses on the construction of new and rehabilitation of existing commercial properties.
- Coordinated the County's BRAC (Base Realignment and Closure) efforts, collaborating closely with Federal Fort Detrick officials and statewide BRAC organizations.
- Strategically partnered with the City of Frederick Department of Economic Development and the Maryland Department of Business and Economic Development on business recruitment efforts.
Deputy Director/Business Development Specialist
Frederick County MD Government
Frederick
08.2001 - 05.2007
- Supervised 5 professional level employees, establishing annual goals and conducting performance reviews to enhance team alignment and accountability.
- Prospected and developed potential business clients for location in Frederick County.
- Provided outreach to businesses to determine how the County and State can best meet their needs.
- Served as bioscience industry specialist, advising clients on industry trends and best practices.
- Developed written materials and engaged in public speaking to promote Frederick County, collaborating with local, state, and regional partners and enhancing online content.
- Suggested and showed appropriate commercial and industrial sites and buildings to prospects.
- Provided permitting and problem-solving assistance for clients.
- Managed multiple projects for the office and assisted in the planning and coordination of events.
- Coordinated workforce development services for businesses, ensuring alignment with community needs and facilitating access to resources.
Public Information Officer
Frederick County MD Government
Frederick
06.1998 - 08.2001
- Provided professional support to the Board of County Commissioners, serving as primary media contact for County Government, including local and regional print, radio, and television media outlets.
- Drafted correspondence, press releases, and speeches for Board and County Manager, ensuring clear communication of key messages.
- Served as liaison between Board, County departments, and the public, facilitating effective information flow and community outreach.
- Coordinated community volunteer steering committee for County’s 250th Anniversary Celebration, enhancing community engagement.
- Acted as the primary contact for public outreach during the Y2K crossover.
- Supervised County Manager’s staff to ensure efficient operations.
Transportation Coordinator
Frederick County MD Government
Frederick
01.1996 - 06.1998
- Coordinated outreach to local businesses and residents, enhancing awareness of available transportation options.
- Initiated Frederick County's rideshare program.
- Engaged in collaborative regional transportation initiatives.
- Acted as primary media and outreach contact, facilitating communication between the department and community stakeholders.
- Designed all marketing and promotional materials.
- Wrote & designed quarterly rideshare newsletter.
- Provided supervision to temporary/part-time administrative staff.
Education
Master of Arts - Communication Studies
West Virginia University
Morgantown, West VirginiaBachelor of Arts - Communications/Spanish
Juniata College
Huntingdon, PennsylvaniaSkills
- Economic development
- Business attraction/retention
- Project management
- Budget preparation
- Team leadership
- Partner relationships
- Effective communication
Affiliations
- Maryland Economic Development Association (MEDA)
- International Economic Development Council
- Leadership Montgomery
Certification
Certified Economic Developer (CEcD), 05/01/06
References
Available upon request.
Timeline
Director of Economic Development
Montgomery County Economic Development Corporation (MCEDC)
03.2022 - Current
Economic Development Manager
Montgomery County MD Government
06.2018 - 03.2022
Executive Director
Rockville Economic Development, Inc. (REDI)
05.2012 - 06.2018
Executive Director/Department Head
Frederick County MD Government
06.2007 - 02.2012
Deputy Director/Business Development Specialist
Frederick County MD Government
08.2001 - 05.2007
Public Information Officer
Frederick County MD Government
06.1998 - 08.2001
Transportation Coordinator
Frederick County MD Government
01.1996 - 06.1998
Master of Arts - Communication Studies
West Virginia University
Bachelor of Arts - Communications/Spanish
Juniata College