Greater Baltimore Committee (MD) – 10-Year Economic Opportunity Plan

Challenge

The Baltimore Region has seen steady growth and development over the past 20 years, the result of both broad economic forces and localized strategies that leverage its strong foundation of assets including its strategic East Coast location, relative affordability, active waterfront, and diverse talent pool. The region is also home to a robust network of higher education providers, recognized medical facilities, and state and federal agencies. While the public funding that underpins these anchor institutions has helped insulate Baltimore from economic disruption, it has also meant the region has traditionally been less aggressive in its economic development efforts. The Baltimore Region is a dynamic, diverse area of national and global significance; however, a sea change is needed to signal to local, national, and international investors that it is ready for transformative, private sector-led growth.

Response

In 2023, the Greater Baltimore Committee (GBC) engaged TIP to help create a 10-year economic opportunity plan aimed at igniting transformational change and spurring new regional collaborations. Having recently merged with the Economic Alliance of Greater Baltimore—an organization that marketed the region for business investments—and hiring its first new leader in more than two decades, GBC was well-positioned to lead this effort. The result, All In | 2035: A Ten-Year Economic Opportunity Plan for the Baltimore Region (All In | 2035) lays out a bold agenda that will influence GBC’s priorities and help guide private and public investments. Roundtables and interviews with stakeholders across the seven-jurisdiction Baltimore Region (Anne Arundel, Baltimore, Carroll, Cecil, Harford, and Howard Counties, and Baltimore City), input from six working groups, and guidance from a 34-member steering committee helped shape the recommendations. Along with an extensive quantitative analysis of the region’s competitive position, TIP conducted an online survey of site selection-related professionals familiar with the Baltimore market. All In | 2035 lays out strategies for advancing regional economic opportunity in three goal areas: strong and innovative industry sectors, vibrant and connected places, and a skilled and flexible labor force. With a restructured GBC and a blueprint for building a thriving and inclusive economy, the Baltimore Region can reposition itself in the minds of current and potential investors and help create opportunities for its businesses and residents.