Business Climate

Business Climate

Greater Baltimore

• In 2008, Forbes ranked Greater Baltimore the 8th best place in the country to ride out the recession.  Below average foreclosures and unemployment and a diversified economy will soften the blow of an economic downturn.
• In 2008, the Beacon Hill Institute ranked the Baltimore region 11th out of 50 cities in the Metropolitan Area Competitiveness Report 2007, an indicator of cities' ability to attract and retain new companies and jobs. 
• Baltimore also placed 5th in Human Resources and 2nd in Technology.
• Baltimore is the 13th top metropolitan area for young adults in 2008, based upon measures of population and employment growth, high incomes for young professionals, and the percent of people with bachelor’s degrees. 
• MovieMaker magazine ranked Baltimore 9th on in its annual top 10 list of the best U.S. cities to live, work and make movies in 2008.
• Policom’s economic strength rating considers both growth factors and consistency of growth, and rankings for Baltimore have been steadily increasing.  From 44th in 2004, to 36th in 2005, to 23rd in 2006, all the way to 18th in 2007.
• The Baltimore metro area ranks 23rd in economic strength of the 361 MSAs, up from 44th in 2004 and 36th in 2005.
• In 2005, Baltimore ranked Milken Institute’s 60th of 200 Best Performing Cities in terms of job growth, the growth of wages and salaries, GDP, and population.
• Three of Forbes’ “400 Best Big Companies in America” have headquarters in Baltimore: Constellation Energy; Legg Mason; and T. Rowe Price.

State of Maryland

• The December 2006 issue of Expansion Management ranks Maryland 18th of top 20 states for foreign company job growth with more than 100,000 insourced jobs.
• Maryland was Forbes’ 2006 11th best state for business, measuring business cost, labor, regulations, the economy, prospects for growth, and the overall quality of life.
• The following year, Maryland was ranked 12th when population and gross state product were added to the calculation.