PRESS RELEASE: October 3, 2025
BDC Receives Two 2025 Excellence in Economic Development Awards from the International Economic Development Council
Baltimore, MD—The Baltimore Development Corporation (BDC) announced today that it has been honored with two 2025 Excellence in Economic Development Awards from the International Economic Development Council (IEDC) for cities with a population greater than 500,000. The IEDC’s annual Excellence Awards recognizes transformative economic development projects that have profoundly impacted communities, regions, and nations.
The awards were bestowed specifically for the following economic development projects and categories:
- Gold, Innovative Financing: Harbor Point
- Silver, Real Estate Development & Reuse: 4MLK
“Baltimore continues to demonstrate what it means to deliver transformative projects at scale,” said Nathan Ohle, IEDC president and CEO. “BDC’s work reflects a deep commitment to the power of economic development to create lasting impact. It is with great pride that IEDC presents this award to BDC, honoring their leadership and innovation.”
Each year, the International Economic Development Council (IEDC) recognizes economic development organizations, government entities, initiatives, and programs that exemplify consistent excellence in the field. The Excellence Awards highlight projects and initiatives that drive community revitalization and advance the practice of economic development, showcasing models that have a lasting, transformative impact.
“Baltimore Development Corporation and their partners are driving Baltimore’s Renaissance forward, and I’m so proud that their accomplishments are being recognized on a global scale by the IEDC,” said Mayor Brandon M. Scott. “From transforming our waterfront to revitalizing the gateway to our Westside, BDC’s work is proof of what we can accomplish when we invest intentionally in our communities. These aren’t just good business moves; they’re sources of opportunity for all of our residents. I look forward to continuing our work to build a stronger, more inclusive Baltimore.”
Harbor Point retains major employers like T. Rowe Price, Morgan Stanley, and Exelon while adding a new five-acre public waterfront park for the community. 4MLK serves as a new gateway connecting the University of Maryland BioPark, the University of Maryland, Baltimore, and the University of Maryland Medical Center. The project delivers much-needed life sciences expansion space, along with an open public plaza, publicly accessible community space, and new retail opportunities along Baltimore Street and Martin Luther King Jr. Boulevard.
“These awards reflect the power of collaboration, our team and partners working together to build an accessible Baltimore where inclusive and sustainable economic growth is not just a goal, but a reality.” said Otis Rolley, president and CEO of BDC. “To be recognized on an international stage is an incredible honor, creating lasting, positive change in Baltimore.”
BDC is proud to share this recognition with Beatty Development, Wexford Science & Technology, and the University of Maryland BioPark, along with their outstanding design and development teams. Congratulations, and thank you for your leadership and partnership in bringing these transformative projects to life.
BDC was acknowledged and honored at the IEDC 2025 Annual Conference in Detroit, MI, September 15-16. For more information about the IEDC’s awards and this year’s winner, visit IEDC’s Award Gallery.
About the Baltimore Development Corporation
The Baltimore Development Corporation (BDC) is the economic development agency for the City of Baltimore. Our mission is to grow the city’s economy in an inclusive manner by retaining, expanding, and attracting businesses and promoting investment, thereby increasing career opportunities for residents. For more information about BDC, visit www.baltimoredevelopment.com.
About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 4,300 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities by creating, retaining, and expanding jobs that facilitate growth, enhance wealth, and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members engage in the full range of economic development practices. Given the breadth of economic development work, our members are employed in various settings, including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. When IEDC succeeds, its members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions. Learn more at www.iedconline.org today!
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