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

POPULATION DISTRIBUTION2,3 (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 PROPERTY6

Business and Industrial Parks 
Cross Roads Business ParkHolabird Business Park
Hollander 95 Business ParkPark Circle Business Park
Seton Business Park
Carroll Camden Industrial Park
Chesapeake Commerce Center
Johns Hopkins Bayview Research CampusJohns Hopkins Bayview Research Campus
Johns Hopkins Bayview Research Campus#rowspan#

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

Business Incubators
B-More 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

EMPLOYMENT4 (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.