Premier Location Drives PST Industry Success
Greater Baltimore boasts some of the highest concentrations of complex, high paying professions in the nation, primarily within the cybersecurity, information technology, and ed-tech sectors. Nearly 1 in 10 jobs in the Greater Baltimore region are in the professional, scientific, and technical services (PST) industry, and the Milken Institute ranked Maryland as the 3rd strongest state overall for tech and science activity. The number of—and variety in—the positions available within the industry has increased the number of PST degrees conferred, fueling the workforce and encouraging growth among some of the area’s leading companies.
In May 2018, Paragon Bioservices—a bio company founded in Baltimore that manufactures cutting-edge biopharmaceuticals—was named the 2018 Life Science Company of the Year by the Maryland Tech Council (MTC). Paragon experienced substantial revenue growth throughout 2016 and has created more than 70 new high paying tech jobs since 2017.
Similarly, Bridges Consulting Inc., an Anne Arundel County based cybersecurity and IT firm that employs more than 30 on-site staff, announced in March that it would be doubling its staff size over the next year and a half. Providing national security and commercial vulnerability solutions to the region and beyond, Bridges has been a steady source of innovative cyber solutions.
To better support the company’s growing efforts, Bridges recently relocated its headquarters into what is now a more open and technologically impressive space. The new office location introduces more collaborative areas, a modern design, innovation centers, and workspaces to draw in employees, customers, and recruits. It also boasts an innovation lab that offers isolated space to test and experiment with new software devices.
It can be said that the successes of such companies can be partly attributed to their premier location. The Baltimore-Washington region leads the nation as a cybersecurity hub, not just in the employment opportunities offered (Maryland alone is home to more than 40 federal agencies), but in the qualified workforce that is available for hire.
With a 15% growth in math and computer degrees over the span of just one year—and 17 universities named as NSA/DHS centers of academic excellence for cyber defense research or education—Baltimore is primed to see continued growth in key sectors that are becoming the very foundation for economic success.
“We lead the world in three key areas: cybersecurity, analytics, and big data,” said Mike Janke, co-founder of DataTribe, on his “Why Baltimore” segment. “We need to provide the proper capital and resources necessary to keep our best and brightest on the East Coast.”