Regional Economy

Greater Baltimore is a region comprised of Baltimore City and six surrounding counties (Anne Arundel, Baltimore County, Carroll, Cecil, Harford and Howard) and encompasses more than 3,100 square miles of land. Over 2.7 million people reside in the region, making the area the 20th largest metro area in the United States. See here for more details.

The region is a key economic center for the State and home to numerous prominent businesses of all sizes. Residents enjoy a relatively high per capita income and employers find a highly-educated workforce. Greater Baltimore still provides a relatively low cost of living, compared to other major metro areas, and it is well-connected to urban regions along the Northeast Corridor. Since last measured in 2012, Greater Baltimore produced an annual Gross Metropolitan Product of $157.26 billion.

Employment

Greater Baltimore has consistently performed better than the US average in terms of employment and unemployment. The region's diverse industry base, concentration in strong and growing industries, and talented workforce allow the region to continue to grow and develop.

As of October 2012, Greater Baltimore had the eighth lowest unemployment rate at 6.8 percent, well below the US average (among the 25 largest US Metros). Since 2001 Greater Baltimore employment grew by 2.89 percent overall, landing the region in the top 10 for growth in the decade. Click here to download our employment spreadsheet.

Top Employment

The region’s top employers come from a wide range of industries and span both the public and private sectors. Below are examples of our top employers. Download our full top employers spreadsheet for more information. In addition, the Maryland Department of Business and Economic Development reports top employers statewide and by county.

  • The region’s top military institutions, Fort George G. Meade and Aberdeen Proving Ground, employ over 50,000 people.
  • The top three health care companies, Johns Hopkins Health System, University of Maryland Health System and MedStar Health, employ roughly 40,000 people.
  • IT and defense contractors Northrop Grumman, Lockheed Martin, CSC, Booz Allen Hamilton and AAI employ over 20,000 people.
  • Retailers and distributors like Wal-Mart, Sam’s Club, Giant Food and Target employ over 15,000 people.

Industry and Occupations

Greater Baltimore is home to a diverse base of industries that continue to grow and develop. Healthcare, Financial Services, Information Technology, Defense, Education and Life Sciences/Biotechnology are some of the key growth sectors that make up the region’s economy. See our Key Industries page for more details.

The talent pool in the region is as diverse as the industrial makeup. The primary occupations held by Greater Baltimore workers are in legal, management, architecture, engineering, business and financial operations, computer and mathematical science, and life, physical and social science.

Download the full industry and occupation reports for more information.