Civic News

3 takeaways from the Economic Alliance of Greater Baltimore’s annual report

Here's where tech sits in the region's economic picture.

Photo by Brady Dale

For more evidence that tech is moving into the mainstream economic conversation for Baltimore, look no further than the Economic Alliance of Greater Baltimore’s annual report. The 2015 edition was published earlier this month.
Read the full report
The overview of the region’s “key economic indicators” touches on new development, exports and other business indicators. But there’s plenty of entrepreneurship talk.
Here are three takeaways on companies and workers:

  1. Startup Formation was double the national average in Baltimore. Since 2010, startup activity increased by 7.4 percent. The national average among metro areas was 3.1 percent over the same period, the report states. For the report’s purposes, the rate of startup formation is defined as the percentage of companies that are less than one year old.
  2. Job Growth was traced to new and expanding firms in the area. Those firms generated 9,900 jobs over the last two years, the report states. Tech-oriented companies like Amazon (albeit with low-paying shipping jobs locally), Social Solutions, IronNet and Sourcefire are highlighted on a list of growing firms.
  3. Young, Educated Workers are an important asset for that job growth, and it’s a segment that’s gaining in numbers. From 2010-2014, the region ranked 8th among U.S. metros in growth of young professionals (10 percent), and fourth-fastest growth in 25-39-year-olds with degrees in STEM fields. The report states those workers are among the “next generation of entrepreneurs and executives.”
Companies: Economic Alliance of Greater Baltimore

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

The man charged in the UnitedHealthcare CEO shooting had a ton of tech connections

From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game

The US needs to train more cyber talent to keep the country secure

Where are the country’s most vibrant tech and startup communities?

Technically Media