From the Baltimore sun
May 4, 2007
By CHRISTIAN S. JOHNSSON
The past few years have been an exciting time to be in economic development in Greater Baltimore. Our work force continues to grow and our community is behind the investments in knowledge industries such as health care and technology. The Baltimore region is poised to raise its profile on the national stage, becoming a key destination for the most talented workers and dynamic companies.
Our numbers from this past year are telling the story. Maryland’s economy is growing and vibrant, with 36,400 new jobs added in 2006, according to Department of Labor statistics.
One of the most compelling stories is that Baltimore gained 400 jobs in 2006. This is the city’s first annual job gain since 2000 and it means people are coming back into Baltimore to work. Part of this is the renewed success of Baltimore’s tourism industry. Moody’s Precis Metro Report shows that leisure and hospitality employment has increased 42 percent since 2005.
Our region is a driving factor in Maryland’s economy. The increase of the labor force in the Baltimore area exceeded the entire state’s growth in 2006. The Baltimore region increased its labor force by 3.5 percent compares to a 1 percent increase statewide.
Due to the strength of our labor force, the most recent four-year data shows that the per-capita income in Greater Baltimore increased 17 percent- more than the 16 percent across Maryland and the 11 percent growth nationwide. Average earnings per job in the region have grown by 19 percent since 2000.
The work force in Greater Baltimore is shifting toward knowledge workers in the health care and technology sectors. While the overall employment growth in Greater Baltimore was 3.5 percent in the most recent four-year data, knowledge worker sectors have been seeing considerably higher growth. Employment in professional and technical services has grown 8 percent and educational services have grown 13 percent over that period.
Twenty of the top 25 employers in the Baltimore region are either in the fields of health care or technology. Employment in Greater Baltimore is dominated by employers such as Fort Meade, the Johns Hopkins University and Health System, the National Security Agency, Aberdeen Proving Ground, the University of Maryland Medical Systems, MedStar Health, Northrop Grumman and Lockheed Martin.
With initiatives related to the military base realignment and closure process and with the bio and tech parks underway at Johns Hopkins, the University of Maryland Baltimore, and the University of Maryland Baltimore County, our region is investing in our strengths and ensuring future success.
As these sectors grow, they continue to lower the unemployment rate. Unemployment in the region has been steadily decreasing since 2003, with the 2006 number at 4.2 percent- below the national average of 4.6 percent. Of the seven jurisdictions in the region, four has less than 4 percent unemployment: Howard County 2.8 percent; Carroll County, 3.0 percent; Anne Arundel County, 3.4 percent; and Harford County, 3.6 percent. Baltimore County stood at exactly 4 percent.
With growing employment in industry sectors that demand highly educated workers and unemployment continually decreasing, it is of the utmost importance to have an education system that can dependably fill the pipeline with new talent. Greater Baltimore is already well known for our excellent universities and community colleges, but our public schools have not always received the same accolades.
It may come as a surprise to you that Expansion Management Magazine has ranked Greater Baltimore third out of all the major metropolitan areas in the United States for our public school districts. We have been fighting the negative perception of our public schools for decades and can now see that the work of our community to provide a better public education is being recognized.
This education ranking has put the Baltimore region ahead of such metro areas as Minneapolis-St.Paul, Philadelphia, Dallas, Boston and Seattle, to name a few. These areas are known for their strong knowledge worker economies, and we compete against them in attracting new business.
The facts and statistics tell the story of a region on the move. Greater Baltimore is positioned for growth and prosperity in knowledge industries such as health care and technology. The region’s strengths and potential will soon be national news.
Christian S. Johnsson, the president and chief executive of the Economic Alliance of Greater Baltimore, writes a monthly column for The Daily Record. The opinions expressed are his own and not necessarily those of this newspaper. |
