Why Baltimore

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Why Baltimore

Strategically located in the Mid-Atlantic region, and accessible by port, rail, air and highway, Baltimore City is a dynamic urban center fueled by a diverse economy. Among major U.S. metros, Baltimore ranks 9th in downtown population and 12th in downtown employment, and has experienced rapid growth in the well-educated young-adult population.

Baltimore is a city of 80 square miles and accounts for 23 percent of the region’s total population. The city is home to 13 colleges and universities, including internationally recognized Johns Hopkins and University of Maryland Baltimore. Professional sports teams, historic and cultural resources, and major employers in the health care, information and cybersecurity, finance and banking, and hospitality and entertainment industries also call the city home.

More than 60 federal agencies and research labs are within 30 miles, bringing substantial federal spending and jobs to the city. Johns Hopkins Hospital and University is the largest recipient of federal research dollars nationally. Baltimore also has two state-of-the-art biotechnology business parks and numerous other business and industrial parks.

ECONOMIC PROFILE

Thriving port and easy access via rail, air and highways and Baltimore’s location in the densely populated and economically vibrant Washington, DC – Boston corridor is a prime asset for its continued economic development. The City is within an overnight drive to half of the country’s population.

In addition, being home to The Johns Hopkins Hospital and the University of Maryland Medical System, as well as many other anchor institutions, provides Baltimore with a unique opportunity to partner with and harness their resources into investment and development in the City’s neighborhoods. Baltimore also has six key industry sectors which present future growth opportunities – financial & professional services, health & bioscience technology, culture & tourism, information & creative services, logistics, and advanced manufacturing.

The City’s diverse population is stable and growing, slowly reversing decades of population loss. Baltimore is the 26th largest city in the nation and accounts for roughly 23 percent of the region’s total population of 2.7 million. Housing prices in many parts of the City are well within reach of many families and are significantly lower than many surrounding counties and the Washington, DC market, making Baltimore attractive to potential new residents.

Population

Baltimore CityHouseholdsPopulation Population Metro* Maryland
2000257,996651,1542,552,9945,296,486
2010249,903620,9612,710,4895,773,552
2020**261,975634,1002,881,5006,224,550

*Baltimore City, Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne’s counties

**Projections</small>

Population Distribution 2,3 (2014)

AgeNumber Percent
Under 541,3016.6
5 - 19106,93817.2
20 - 44240,19538.6
45 - 64155,49625
65 and over77,91912.5
Total622,793100.0
Median age: 34.7 years

Business and Industrial Property 6

Business and Industrial Parks

Cross Roads Business Park
Hollander 95 Business Park
Seton Business Park
Carroll Camden Industrial Park
Chesapeake Commerce Center
Johns Hopkins Bayview Research Campus
Holabird Business Park
Park Circle Business Park

Biotechnology Parks

Science + Technology Park at Johns Hopkins – 20 acres
University of Maryland BioPark – 12 acres

Maker Spaces

City Garage
Open Works
Spark

Business Incubators
BMore Kitchen
Betamore
BioInnovation Center
Emerging Technology Centers (ETC)
FastForward
Harbor Launch at IMET
LifeBridge BioIncubator at Sinai Hospital
Open Works – BARCO
Spark (Cordish Companies)

Market Profile Data (2015)LowHighAverage
Land – cost per square foot
Industrial$6.75$200.00$39.73
OfficeN/AN/AN/A
Rental Rates – per square foot
Warehouse / Industrial $1.01 $21.50 $6.50
Flex / R&D / Technology$1.00$23.00$10.90
Class A Office$20.77$26.26$22.83

Employment 4 (2014, BY PLACE OF WORK)

IndustryEstablishmentsAnnual Avg.Empl.Emp.%Avg.Wkly.Wage
Federal government7910,0663.0$1,565
State government12634,72710.41,229
Local government22024,4087.31,127
Private sector13,291264,86579.31,194
Construction74910,3193.11,195
Manufacturing41910,8193.21,073
Trade, transportation and utilities2,92541,04212.31,077
Information1964,1641.21,632
Financial activities1,26116,1804.82,592
Professional and Business services2,56042,38612.71,195
Education and health services1,727100,03929.91,220
Leisure and hospitality1,78529,6658.9541
Other services1,65910,2453.1770
Total13,716334,066100.01,196

For a closer look at Baltimore’s economy, please contact the Baltimore Development Corporation at 410-837-9305 or info@baltimoredevelopment.com.

TRANSPORTATION

Within eight miles of a national and international airport, convenient Amtrak rail stations, and a world-class port, the City is highly accessible by many different modes of transportation. Its proximity to major East Coast cities makes it an attractive location for many businesses. If your business is interested in increasing exports and growing globally into new markets, please contact us at info@baltimoredevelopment.com.

Transportation 
Highways: I-70, I-83, I-95, I-395, I-695, I-895, U.S. 40, MD 295
(Baltimore-Washington Parkway) – a total of 32 primary
roadway miles
Mass Transit:MARC commuter rail linking Baltimore with Washington, D.C; light rail connections to BWI airport, northern and southern metro suburbs, and industrial parks; Metro (subway) connections from northwest suburbs directly to Johns Hopkins medical campus; municipal bus service to surrounding metropolitan counties; private bus service to rest of state, other major cities.
Rail: Freight - CSX Transportation, Norfolk Southern Railway, Canton Railroad; Passenger - Amtrak
Truck: Over 120 local and long-distance trucking establishments serve the City
Water:Port of Baltimore–50’ dredged channel, Panamex Class capability, seven public terminals, Intermodal Container Transfer Facility, and passenger/tourism Cruise facility
Air:Baltimore/Washington International Thurgood Marshall Airport (BWI)–5 concourses (4 domestic, 1 international/swing); 68 jet gates, 5 gates dedicated to commuter aircraft; 4 scheduled cargo airlines; 395,000-square-foot Air Cargo Center includes a 60,000-square-foot cargo building in the Midfield Cargo Complex; Foreign Trade Zone; 17-acre air cargo ramp; ramp parking for 17 aircraft with direct nose-in access for 8 freighters

Port of Baltimore Facts:

  • Most centrally located deep water port and one of only two ports on the East Coast that can accommodate the new Post-Panamax ships
  • The Port was #1 in roll on and roll off for the past five years
  • Trucks can reach 35 percent of U.S. manufacturing base and 32 percent of its population overnight
  • In 2014, the Port of Baltimore’s total commerce was 29.5 million tons with a total value of $52.5 billion
  • Competitive transit times make Baltimore the logical choice for many businesses who want to expand globally

Baltimore City and the BDC are committed to helping businesses increase exports and grow internationally into new markets. If you are interested in learning more, please contact BDC at info@baltimoredevelopment.com.

WORKFORCE

For businesses to grow and thrive, it is important to attract the right talent. BDC and the Mayor’s Office of Employment Development (MOED) can assist businesses to find the workforce they need to succeed.

The Mayor’s Office of Employment Development (MOED), provides businesses with a pipeline of qualified, skilled job candidates and supports businesses in retaining and developing their employees. MOED offer customized workforce solutions including outreach and recruitment, applicant prescreening, assessment and testing services, tax credit information, human resources support and training funds for new or existing employees. To find out more about MOED’s services please visit www.oedworks.com For all other information, please contact BDC at info@baltimoredevelopment.com.

Employment 4 (2014, By Place Of Work)

IndustryEstablishmentsAnnual Avg.Empl.Emp.%Avg.Wkly.Wage
Federal government7910,0663.0$1,565
State government12634,72710.41,229
Local government22024,4087.31,127
Private sector13,291264,86579.31,194
Construction74910,3193.11,195
Manufacturing41910,8193.21,073
Trade, transportation and utilities2,92541,04212.31,077
Information1964,1641.21,632
Financial activities1,26116,1804.82,592
Professional and Business services2,56042,38612.71,195
Education and health services1,727100,03929.91,220
Leisure and hospitality1,78529,6658.9541
Other services1,65910,2453.1770
Total13,716334,066100.01,196

Labor Availability 3,4,5 (By Place Of Residence)

Civilian Labor Force (2015 avg.)CityLabor Mkt. Area*
Total civilian labor force295,4821,215,571
Employment272,7561,148,202
Unemployment22,72667,369
Unemployment rate7.7%5.5%
Residents commuting outside the city to work (2010-2014) Number
102,059		Percent
38.7%
Employment in selected occupations (2010-2014)
Management, business, science and arts106,31939.5%
Service56,96721.2%
Sales and office62,47023.2%
Production, transp. and material moving27,16410.1%

*Baltimore City and Anne Arundel, Baltimore and Howard Counties

Education

With 13 colleges and universities in Baltimore City alone, there is an increasing pool of talent for employers to choose from. As of 2014, according to the U.S. Census, 30 percent of residents have Bachelor’s or higher (workers over age 25) and 84.4 percent are high school graduates.

Baltimore is also the eighth largest destination for millennials in the country. Baltimore continues to experience a growth in the number of Millennials living in the City. From 2010, the total number of persons aged 25 to 34 increased by 10.5% or nearly 11,000 persons. As of 2014, nearly one out of every 5 City residents is between the ages of 25 and 34.

Schools and Colleges 3,8

Educational Attainment - age 25 & over (2010-2014)  
High school graduate or higher80.9%
Bachelor’s degree or higher27.7%
Public Schools
Number: 44 elementary; 74 middle/combined; 19 high
Enrollment: (Sept. 2015)83,666
Cost per pupil: (2013-2014)$15,123
Students per teacher: (Oct. 2014)15.6
High school career / tech enrollment: (2015)8,393
High school graduates: (July 2015)4,050
Nonpublic Schools Number: (Sept. 2015)138
Higher Education (2015)EnrollmentDegrees
2-year institution
Baltimore City Community College 4,597 405
Major 4-year institutions
Coppin State University 3,108 491
Johns Hopkins University 22,685 7,199
Loyola University Maryland 6,0501,607
Maryland Institute College of Art 2,215 595
Morgan State University 7,7251,225
Notre Dame of Maryland University 2,612730
University of Baltimore 6,2291,477
University of Maryland, Baltimore6,3292,067

Sources:

  1. National Oceanic and Atmospheric Administration (1981-2010 normals); Maryland Geological Survey
  2. Maryland Department of Planning
  3. U.S. Bureau of the Census
  4. Maryland Department of Labor, Licensing and Regulation, Office of Workforce Information and Performance
  5. U.S. Bureau of Labor Statistics
  6. Baltimore Development Corporation
  7. Maryland Department of Commerce
  8. Maryland State Department of Education; Maryland Higher EducationCommission
  9. Maryland State Department of Assessments and Taxation; Comptroller of the Treasury
  10. Maryland Association of Realtors
  11. Maryland State Archives; Maryland Association