Progress Report 2024 Interactive
Progress Report 2024 Interactive
Progress Report 2024 Interactive
2024
A Comprehensive
Economic
Development
Strategy
Letter from Mayor Brandon M. Scott and
BDC President & CEO Colin Tarbert
INTROduction
Baltimore Together is a collaborative initiative
that unites stakeholders across the city to drive
Baltimore Together, our city’s comprehensive strategy for inclusive economic growth, inclusive economic growth. With a focus on
celebrated a productive third year of implementation. As we reflect on the progress building a thriving, sustainable economy that
made in 2024, we reaffirm our commitment to building a vibrant, equitable economy benefits all residents—particularly marginalized
that works for all residents. In collaboration with business leaders, community communities—the initiative is designed to address
members, and public institutions, we’ve made meaningful strides toward creating an disparities, strengthen key industries, foster
economy that uplifts everyone—regardless of race, neighborhood, or background. innovation, and create a resilient workforce.
This year marked a pivotal moment in our City’s history. On March 26, 2024, the Baltimore Together was adopted by the Baltimore
Key Bridge collapse tragically claimed the lives of six members of Baltimore’s City Planning Commission in 2021 and is recognized
immigrant community and shut down the Port of Baltimore for the first time by the U.S. Economic Development Administration
in its 300-year history. Our thriving logistics sector ground to a halt. In the
face of this unprecedented crisis, federal, state, and local governments came
(EDA) as Baltimore City’s Comprehensive Economic
Development Strategy (CEDS). To date, Baltimore Baltimore Together's
together in an extraordinary show of unity. Funds were raised for the families Together has engaged over 2,000 stakeholders, Four Key Strategies
1
who lost loved ones, workers received financial support to sustain their contributing to a broad range of initiatives
households, and businesses weathered the storm with government assistance, aimed at revitalizing our local economy. In 2024,
culminating in the remarkable reopening of the Port within just 11 weeks. WORK TOGETHER
numerous partners and sponsors supported Break down barriers, foster collaboration,
programs in workforce development, small and increase efficiency.
This tragedy reminds us not only of the strength and resilience of our city, but also business growth, and neighborhood revitalization,
of the often understated contributions of Baltimore’s immigrant community to our
2
reflecting the initiative's wide-reaching impact.
economy. Their hard work and dedication are integral to our success, and it is essential
that we continue to recognize and elevate their role in driving our city forward. With 93% of our strategic initiatives showing positive INVEST IN PEOPLE & PLACES
Create opportunities for residents
gains - 18% completed, 34% positive progress, and through strategic investments.
Baltimore Together tackles our city’s challenges head-on with bold goals. Through 41% some progress, Baltimore is well on track to meet
initiatives focused on innovation, small business growth, workforce development, its ambitious goals. The Baltimore metro area ranks #12
3
and neighborhood investment—guided by a commitment to equity—we are proud out of 150 for inclusion, according to the National Equity
to report significant achievements in 2024. This report outlines key milestones and Atlas, and ranks #2 nationally for economic mobility, BUILD FROM STRENGTH
charts a course for continued economic growth and inclusion for all Baltimoreans. outperforming metros like Austin and Atlanta in Leverage Baltimore’s assets to
strengthen the city’s economic future.
affordability, higher wages, and strong hiring of college
graduates, as reported by the ADP Research Institute.
4
Work Together remains the cornerstone of Baltimore COMPETE TO SUCCEED
Work with partners to address.
Brandon M. Scott Together. This Progress Report, along with our Annual competitive imbalance and address
Colin Tarbert
Summit—free and open to the public—serves as both major challenges.
Mayor, President & CEO, an accountability and transparency measure. While
Baltimore City Baltimore Development Corporation exciting progress is underway, sustaining momentum This report highlights progress made toward
requires broad participation. Learn more and get each of the seven Baltimore Together goals.
involved at www.baltimoretogether.com. Year-over-year metrics are included as objective
measures of progress. While much work remains,
the growing economic momentum in Baltimore
is exciting and promising.
Overarching Goals, Objectives and Metrics
Baltimore Center Stage, courtesy: Center Stage
GOAL 1
Goal ProgresS
Build an Equitable Economy
Building an economy where all Baltimore
residents can thrive is at the heart of the Baltimore
Together initiative. This year, Baltimore ranked
Highlights
One step toward greater transparency this year Downtown Partnership BOOST boutique, courtesy: DPOB
#12 nationwide for equity-focused growth, was the development and launch of the Baltimore
as recognized by the National Equity Atlas. A Economic Dashboard, which provides real-time data
commitment to racial equity continues to guide on the economic conditions of neighborhoods across
the City’s economic development, with active the city. The dashboard, developed in partnership
collaboration between the Baltimore Development with Bloomberg Associates, offers transparency by
census tract, helping policymakers and community
Corporation (BDC) and the Equity Brain Trust,
leaders track economic growth and identify gaps in
supported by The Annie E. Casey Foundation. BDC’s
services. This tool is essential for informing equitable
Board of Directors has also committed to equity- investment in all neighborhoods.
based goals, ensuring that economic growth
benefits all of Baltimore's residents, particularly At the Baltimore Peninsula, minority- and women-
owned businesses played a crucial role in the
those in historically underserved neighborhoods.
revitalization efforts, securing 40% of all development
contracts, totaling $140 million—a testament to our
commitment to fostering inclusivity in major projects.
Port of Baltimore staging area, courtesy: Erwan Hesry
Goal
courtesy: MCB Real Estate
Be World-Class Leaders in
Key Industry Sectors
Baltimore is a leader in key sectors like logistics,
life sciences, manufacturing, and emerging creative
Additionally, the $500 million planned reimagining industries. This year, the collapse of the Francis
of Harborplace is being led by a native son of West
Scott Key Bridge presented an unprecedented
Baltimore, who is ensuring that Black, Indigenous, and
People of Color (BIPOC) and women-owned businesses challenge with the abrupt shutdown of the Port of
are key players from the start, in partnership with the Baltimore. However, the collective rapid response
Downtown Partnership’s BOOST (Black-owned and demonstrated the City of Baltimore’s resilience
operated storefront) program. and commitment to supporting our industrial base.
Within 11 weeks of the collapse, the Port had restored
In terms of digital equity, programs like Project Waves
and Code in the Schools have helped bridge the functionality, safeguarding over 273,000 direct and
digital divide. Since 2019, Project Waves has connected indirect jobs impacted by the disaster. This crisis
over 1,500 households to free or low-cost internet, underlined the city’s dedication to supporting
ensuring residents have the digital tools necessary our thriving logistics sector, as federal, state, and
for modern life. Additionally, more than 100 youth Girls In CS Summit 2024, courtesy: Code in the Schools local resources were mobilized to help businesses
have participated in tech training through Code in the recover, with special attention to ensuring the
Schools, learning valuable skills in cybersecurity, data
livelihood of thousands of local workers. As we look
science, and video game development.
to rebuild the bridge, the emphasis must be on
economic inclusion to maximize the positive local
What’s Next Related Resources benefit of this historic investment.
Despite these advancements, there remains work to & Information
be done in addressing the persistent gap in economic
data on BIPOC business formation. Moving forward, Opportunity Insights: Divergence of Class and Racial
we will advocate for better tracking of business Gaps
ownership and revenue among these groups, ensuring
they have the resources needed to grow and thrive. Equity Tracking Resources: National Equity Atlas
A significant win for 2024 has been the continued
drop in Black unemployment, which has decreased to
6.4%, a substantial improvement from 11.5% in 2019,
yet still significantly higher than white unemployment.
Targeted workforce programs are working but must
be expanded to ensure long-term gains and to close
the equity gap.
GOAL 2 Under Armour HQ cross-section, courtesy: Under Armour
ProgresS
Highlights
In the life sciences sector, Blackbird Labs launched
Connect Labs @ 4MLK, courtesy:
with a $100 million founding grant from Baltimore Wexford Science + Technology
Ravens owner Steve Bisciotti’s The Stephen and
Renee Bisciotti Foundation. This initiative, in a historic
partnership with Johns Hopkins University and the
University of Maryland, Baltimore, seeks to accelerate
the commercialization of research, building innovative
biotech companies that will cement Baltimore’s
position as a hub for life sciences.
What’s Next
Looking ahead, recent major corporate investments, Federal Reserve Bank of Richmond: The Impact of the
including new headquarters for Under Armour, T. Francis Scott Key Bridge Collapse
Rowe Price, and CFG Bank, are a solid foundation for
long-term job growth and business attraction. These ADP Research – Data Lab: You’ve Graduated. Now
investments will further solidify Baltimore’s reputation what?
as a city where world-class businesses can thrive.
Still, Baltimore must compete and market itself on What is a Location Quotient?
the global stage. The Greater Baltimore Committee is State of Maryland: ExportMD Grant Awardees
actively developing a regional brand to promote the
Baltimore area for business attraction and investment. State of Maryland: Commerce’s Office of International
Investment and Trade
Related Resources State of Maryland: The Future is Now, Realizing the
& Information Promise of Industry - 4.0: A Strategic Plan
GOAL 3
Goal ProgresS
Build a Thriving Innovation
& Small Business Ecosystem
Baltimore’s small business and innovation
Highlights
The Baltimore BASE Network, a coalition of over 15 Small businesses and tech enterpeurial support
ecosystem continues to grow. Through intentional technical assistance providers, distributed essential organizations come together at Superconnect,
investment, the City of Baltimore has become ARPA funds to small businesses across the city, courtesy: Ecomap Technologies
a supportive environment for entrepreneurs, delivering much-needed financial support. Nearly
particularly minority- and women-owned businesses, 500 businesses received funding, 87% of which were
which are critical drivers of local economic growth. BIPOC-owned, and 70% were women- or non-binary-
owned. The network also welcomed its first Economic
Recovery Corps Fellow, focused on strengthening
entrepreneurial ecosystems, especially for BIPOC
business owners.
Coppin State University (CSU) and The Annie E. Casey Foundation EXCEL Project Team, courtesy: CSU
Coppin State University (CSU), courtesy: CSU
Goal
aiming to leverage the federal Tech Hub designation
for future funding. Although Baltimore did not receive a
major funding award in Round 1, the Tech Hub program
could become a significant catalyst for the city and the
region if full program funding is approved.
ProgresS
Programs like Clean Corps Baltimore, which gives
unemployed or underemployed residents jobs
maintaining vacant lots and public spaces, provide
immediate opportunities while improving community
Highlights
conditions.
Mackenzie Garvin speaking at Career
Youth-focused programs in Baltimore are critical Bound event, courtesy : MOED
to fostering long-term economic mobility. The
CareerBound initiative, launched in May 2024, is a
collaboration between Baltimore’s Promise, Baltimore
Baltimore’s workforce development programs provide City Public Schools, and MOED. It builds on the projects, Baltimore is preparing to launch new training
adults with vital skills and opportunities to enhance
Mayor's Office Of Employment Development Grads2Careers program, providing high school programs to help residents acquire the skills needed
(MOED) onsite job fair, courtesy: MOED
career mobility. The Mayor’s Office of Employment graduates not pursuing college with free occupational to thrive in an ever-changing economy. However, with
Development (MOED) invested $250,000 in ARPA training in high-growth industries. CareerBound also ARPA funds sunsetting, identifying sustainable funding
funds to subsidize apprenticeships, creating paid offers in-school apprenticeships, academic support, sources to continue these programs will be critical.
training and job placement opportunities for 200 and coordinated services to ensure youth are equipped
Baltimore City residents, with a focus on BIPOC
and women. MOED also runs the Hire Up and Train
for sustainable careers.
Related Resources
Up programs, which have served nearly 1,800
Additionally, Baltimore's Promise received a $3.6
million investment to help over 31,000 youth achieve
& Information
residents. Hire Up offers transitional jobs for up economic mobility by 2030. The program focuses
to six months, providing participants with career State of Maryland: Economic Dashboard
on improving graduation rates and employment
navigation, legal services, financial counseling, and job outcomes, especially for Black and Latino youth. State of Maryland: Transferable Skills Dashboard
placement support. Train Up offers free job training
in key industries, helping residents develop the skills Citizens program helps formerly incarcerated Baltimore City Public Schools have also developed a State of Maryland: Manufacturing
necessary for the city's growing sectors. individuals transition back into the workforce through “Pathway to Baltimore City’s Budding Talent” system, Industry Dashboard
career counseling, skills training, and job placement. enabling students to explore different industries and
Additionally, MOED’s Workforce Services for Returning In FY2024, the Re-Entry Center placed 401 returning develop in-demand skills, ensuring they are prepared State of Maryland: Workforce
to make informed career and higher education Development Dashboard
decisions.
Mayor's Office Of Employment Development Baltimore City Workforce Dashboard
(MOED) Hire Up Program, courtesy: MOED
Together, these programs aim to create pathways for
Baltimore City Public School System Budget (Video)
success, ensuring both adults and young people can
thrive in Baltimore’s growing economy.
What’s Next
As the job market continues to be reshaped by artificial
intelligence and critical infrastructure development
GOAL 5
Goal ProgresS
Grow the City's Population
Baltimore’s population has seen a steady decline,
losing over 28,000 residents since 2019. However,
the city has experienced a significant increase in
Highlights
The most recent population estimates, released by neighborhoods. The program provides a $10,000
its immigrant population, particularly from Latin the U.S. Census Bureau in September 2024, show that home purchase grant and a $20,000 home purchase
America. This growth has brought new energy to despite a continued population decline, Baltimore is and renovation grant, which do not need to be repaid.
many neighborhoods, but challenges remain in adding households. The city gained roughly 5,000 This initiative helps residents reduce upfront costs,
retaining families, especially Black middle-class households from the previous year in 2023, amounting enabling them to buy and revitalize homes, fostering
families, who continue to leave the city. to the largest increase of any county in Maryland. neighborhood stability and encouraging long-term
Notably, the number of Black households increased resident retention.
within this total. Currently, the city’s number of
households is estimated at 247,232. ReBUILD Metro's Johnston Square project is a large-
scale redevelopment effort in East Baltimore aimed at
Given the ongoing national and regional trend toward revitalizing 42 vacant lots. The project will create new
fewer people living under each roof, true population housing and public amenities, including an apartment
growth for any U.S. city moving forward will require building with 42 units and the city’s first new Enoch
exponential household increases. Strategies to add Pratt Free Library branch in 15 years. Backed by nearly
households include both filling vacant housing units $100 million in investments, this project has already
and constructing new units in alignment with market reduced vacancy rates, increased property values,
demand. and fostered homeownership. By focusing on entire
blocks, the project aims to bring renewed energy to
The Buy Back the Block program, ReBUILD Metro's the community while ensuring inclusivity by working
Johnston Square project, Sojourner Place at with long-term residents.
Park, Reservoir Square and Locke Landing are all
distinct projects aimed at revitalizing Baltimore's The Sojourner Place at Park project, a $26 million
neighborhoods while promoting population affordable housing development on the downtown’s
growth—largely through housing rehabilitation and West Side, is a joint effort by the Episcopal Housing
development—in an inclusive manner. Corporation and Health Care for the Homeless.
The project will transform a neglected intersection
The Buy Back the Block program, launched by Live into a 48,000-square-foot development with 42
Baltimore, offers Baltimore City residents grants to affordable apartments and 10,000 square feet of
transition from renters to homeowners in eligible commercial space. Designed to provide supportive
housing for formerly homeless individuals, it blends
new construction with the preservation of historic
facades. This project helps bridge the gap between
the downtown core and the West Side while providing
inclusive housing solutions.
Goal
Support Equitable
Neighborhood Development
Baltimore’s commitment to equitable
neighborhood development is deeply rooted
in addressing the city's legacy of redlining and
disinvestment, particularly in predominantly
Black communities. Historically underserved
neighborhoods have suffered from concentrated
vacancies, poor economic outcomes, and a lack
of investment. However, the Scott Administration
has made significant strides in reversing this trend
through targeted efforts to eliminate blight, restore
neighborhoods, and foster inclusive growth.
June of 2024 with a median sale price of $646,934. Not housing options based on market trends. Focusing
only will this project help to reshape the waterfront efforts on increasing the number of city households
with modern, mixed-use living spaces, as evidenced (as a necessary precursor to population growth) and
by its earliest sales, it promises to produce significant closely monitoring the housing development pipeline
new revenue for the city. Similarly, Reservoir Square is warranted given recent Census data. Several
in West Baltimore’s Reservoir Hill neighborhood will large, vacant school sites present an opportunity for
introduce 120 newly built market-rate townhomes, infill housing, providing much-needed homes and
market and workforce apartments, retail spaces, fresh helping to stabilize the surrounding neighborhoods.
grocery access, and office space. Reservoir Square The pending expiration of Live Baltimore’s five-year
is replacing a troubled housing project demolished housing market study, published in 2020, calls for the
several years ago and represents the largest private replication of this important research in early 2025 to
investment in West Baltimore in recent history. Homes inform ongoing planning efforts. Tackling population
will start in the $300,000 range. loss will require a holistic approach, ensuring that the
city remains an attractive place for families to live and
Each of these projects, though distinct in approach work.
and target populations, contributes to Baltimore’s
goal of inclusive growth by adding new housing
units, revitalizing neighborhoods, and welcoming Related Resources
new residents while addressing a variety of housing
needs. Both ground-up developments will also deliver
& Information
ongoing, added General Fund income through transfer
Comptroller of MD: State of the Economy Series,
and recordation taxes, property taxes, and income
Immigration and the Economy
taxes.
DHCD - Buy Into Baltimore Opportunities
What’s Next HABC - Homebuyer Readiness Programs
Baltimore’s efforts to grow its population will continue
through initiatives aimed at improving quality of life,
reforming the property tax system, and expanding
owned businesses while creating 900 construction
GOAL 6 jobs and 250 retail jobs. This redevelopment
exemplifies how community-driven models can foster
Walbrook Junction renovation to be completed by end of 2024,
courtesy; Chicago TREND
ProgresS
long-term economic mobility, reduce disparities, and
create sustainable, inclusive neighborhoods.
Highlights
like the Baltimore Neighborhood Economics Lab and
the BDC’s Commercial District Assessment (CDA)
Initiative. The Neighborhood Economics Lab, hosted
at Coppin State University in 2024, brought together
over 150 community leaders, nonprofits, economic
development experts, and local residents to co-create
Under Mayor Brandon M. Scott’s leadership,
vacancy rates have dropped by 14%, supported by
Beloved Baltimore City rowhome, courtesy: Visit Baltimore strategies for revitalizing neighborhood economies, What’s Next
particularly in historically disinvested areas. Sessions
$146 million in American Rescue Plan Act (ARPA) focused on social enterprise financing, real estate Equitable access to housing and economic
funding. Mayor Scott’s long-term vision is to invest development, and community-led planning, helping to opportunities remains a top priority. Continued efforts,
$3 billion over the next 15 years, utilizing innovative align local resources with neighborhood needs. like the recently formed and state-funded West
financial tools like Tax Increment Financing (TIF) North Avenue Development Authority, will focus
and partnerships with state and local stakeholders. The CDA Initiative seeks to assess the health of on expanding affordable housing and supporting
These efforts aim to stabilize over 30 neighborhoods Baltimore’s commercial districts using a data-driven local businesses in underserved neighborhoods.
by eliminating vacant properties, creating affordable framework, combined with on-the-ground research Bringing Mayor Scott’s plan to fruition will require
housing, and generating economic opportunities from community partners. This project will offer tools collaboration, legislation, public and private resources,
through homebuyer grants, home repair programs, and visualizations that guide policy, programming, and a long-term commitment from both city and state
and developer incentives. Recently announced by and funding, enabling the city to make informed government.
Governor Moore, the Reinvest Baltimore program is (DHCD), will provide a cohesive framework to guide decisions on commercial district investments.
Through these assessments, BDC will identify district-
a state-led initiative to support this vision. Through
the Baltimore Vacants Reinvestment Council
Reinvest Baltimore’s efforts.
specific interventions, track the long-term impact of Related Resources
(BVRC), Reinvest Baltimore will leverage targeted One key project highlighting the city's commitment
to equitable development is the redevelopment of
investments, and understand key factors contributing
to healthy commercial districts. The initiative not
& Information
investments to transition 5,000 vacant properties into
homeownership or other positive uses over the next Edmondson Village Shopping Center and Walbrook only supports economic growth, but ensures that DHCD - CoDeMap
five years, in collaboration with community, corporate, Junction. This community-led initiative has brought interventions are tailored to the unique needs of each
and philanthropic partners. In alignment with this goal, together over 200 local investors, ensuring residents community. DHCD - Impact Investment Area Project Tracker
Mayor Brandon Scott’s announcement of the City’s have a direct stake in its success. By blending
Finally, CareFirst's recently opened community hub DHCD - NIIF Investment Map
first-ever Comprehensive Housing Plan, led by the community ownership with commercial revitalization,
the project supports local entrepreneurs and Black- and workforce development center at The Village
Department of Housing and Community Development DHCD - Key Stats Dashboard
at Mondawmin promotes equitable neighborhood
development by providing healthcare resources, DOP - Our Baltimore Comprehensive Plan
workforce training, and support services tailored to
West Baltimore residents. By offering job training,
childcare, and transportation assistance, the center
reduces barriers to employment, fostering economic
empowerment. Additionally, health education, fitness
classes, and life skills programs help improve overall
well-being, ensuring that local development benefits
all community members.
GOAL 7
Goal ProgresS
Recover Stronger
from Covid-19
Baltimore’s recovery from the COVID-19 pandemic
is progressing, though some sectors, like tourism, are
Highlights
Baltimore's downtown recovery is showing
recovering more slowly. Despite these challenges, encouraging progress, particularly through key Orioles Birdland Murals Program sponsored by PNC
Baltimore has been recognized for its effective use initiatives aimed at making the area more attractive Bank, courtesy: Saskia Ka, BmoreArt Magazine
of federal recovery funds to promote equity, ranking to residents and visitors. The Downtown RISE initiative
#3 out of 170 jurisdictions in a report by The Institute has been launched to enhance public spaces and
of Race, Power, and Political Economy at The New improve the overall urban environment. Notable
School. projects include the development of a new dog park
and the transformation of the Eutaw Street Corridor,
making the area more pedestrian-friendly and vibrant.
ACTION
The progress we’ve made in 2024 is encouraging,
18 %
'23 Status: 4%
Complete
The strategies are now complete, with goals fully
met and objectives successfully achieved. Thanks
to strong stakeholder collaboration and dedicated
effort, we’ve realized the intended impact and are
but the path ahead requires sustained commitment, ready to build on these accomplishments.
collaboration, and innovation. Baltimore Together calls
on all residents, business leaders, policymakers, and
community organizations to join this transformative
work. The future of Baltimore depends on our ability
Positive Progress
to build an economy that is an inclusive, resilient, and
vibrant—one that leaves no resident or neighborhood
34%
'23 Status: 21%
We are seeing positive progress as our strategies
move forward, with concrete steps taken and early
behind. successes emerging. Stakeholder engagement
has been strong, and we’re building momentum.
Together, we will continue to attract investments, Continued collaboration and support will be key
to maintaining this progress, and we’re excited to
create jobs, support small businesses, and revitalize
expand our efforts to ensure lasting impact.
neighborhoods. By embracing new opportunities
in sectors such as life sciences, tech, manufacturing,
and tourism, while addressing the needs of our most
vulnerable communities, we will lay the foundation for Some Progress
Lastly, Harborplace represents a transformative
opportunity for Baltimore’s waterfront. Plans for
long-term prosperity. 41 %
'23 Status: 23% These strategies are in progress, and we’ve made
significant strides, but we recognize there is still
redevelopment are in the works, with the goal of We invite you to get involved, contribute your ideas, much work ahead to fully realize the impact
turning it into a dynamic, mixed-use destination that and be part of Baltimore’s exciting future. Let’s work of our stakeholders' efforts. This may involve
draws both locals and tourists alike. By reinventing this together to build a stronger, more equitable Baltimore seeking additional funding, increasing stakeholder
iconic space, Baltimore can reestablish itself as a top- in 2025 and beyond. engagement, or overcoming current roadblocks.
tier destination on the East Coast.
Stay updated on our progress by visiting www.
Through these efforts, Baltimore is positioning itself baltimoretogether.com.
not only to recover from the pandemic but to emerge No Progress
stronger, more resilient, and ready to thrive in the
post-COVID landscape. Strategy Progress 2024 4 %
'23 Status: 22%
Baltimore Together is an enormous undertaking -
incremental and ongoing. Every action item cannot
be undertaken at once. This report represents year 3
7%
Together stakeholders will evaluate whether to revise
or remove these strategies. If your organization has
updates or is actively working on these initiatives,
please let us know.
2023
NEEDS ATTENTION
Thank you to all the sponsors,
partners, and community
members supporting the vision
and goals of Baltimore Together.
baltimoretogether.com
Prepared by Baltimore Developemnt Corporation
Designed by Shanmathy Kumaravel