Economic Development Report: Baltimore, MD

Page 11

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Baltimore-Towson’s basic industries are competitive when compared to the same industries at a national scale, however most of the non-basic industries present no competition. Health of the Economy Based on this analysis and earlier research, it seems Baltimore-Towson’s economy is not completely healthy. With the exception of jobs that require advanced degrees, employment prospects are slim. In the current economic climate, there is little that any government at any level can do to improve the financial conditions of the MSA. However, in the future the counties that comprise the MSA should work with economic developers towards re-establishing Baltimore as a competitive seaport. Because the city’s Inner Harbor is already an attraction, the region can capitalize on tourism to stimulate some sectors of the economy, and attempt to recruit large corporations to employ more of the region’s residents, as well as attract new ones. The MSA, located so nearby the nation’s capital, should witness the same kind of population and employment growth that Northern Virginia has seen over the past few decades.


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