David Petr, Montgomery’s Economic Development Head, To Step Down

David Petr announced he is stepping down as president and CEO of the Montgomery County Economic Development Corp.​ in September.

ROCKVILLE, MD — David Petr, president and CEO of the Montgomery County Economic Development Corp., is resigning.

The economic development head announced he will step down and move to Texas for “family reasons” at the end of his term in September, according to a news release.

“Until the end of my term, my focus will be to capitalize on recent business recruitment efforts, deliver on our most significant strategic initiatives, and establish a strong and sustainable private fundraising plan. We have too much momentum at the MCEDC to do anything less than to execute boldly.”

Petr became MCEDC’s first president after the county got rid of its in-house economic development department in 2015. Officials hoped the new nonprofit would more aggressively compete for businesses in the D.C metro area, The Washington Business Journal reported.

As president, Petr helped the county rake in $375 million of capital investment, retain 3,870 positions, and attract 1,340 new jobs, according to the news release. Petr was also instrumental in Montgomery County’s pitch for Amazon’s second headquarters.

“David has elevated the Montgomery County brand regionally and nationally, and has created a strong foundation that we can build upon. He has assembled a strong team and a smart strategic plan that we will continue to execute upon to create results for the county,” MCEDC Chairman of the Board Bob Buchanan said.

Petr is expected to leave his post in early September. MCEDC’s Governance Committee will lead the search for his successor.

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