Technology, Health & Transportation To Lead Baltimore's Growth In 2015
R. Andrew Bauer, an economist for the Federal Reserve Bank, speaking before the Greater Baltimore Committee's Economic Outlook meeting, predicted that technology, health and transportation will lead this region's growth in 2015. Bauer, however, cautioned attendees that growth will be modest. He described 2015 as 'steady,' indicating that we have weathered the worst of the federal budget cuts and regained jobs lost during the recession; and below are several reports from the surrounding counties about their job outlooks.
- Baltimore Development Corporation cites a growing number of conversion projects - i.e. the conversion of commercial buildings to residential usage - that will be drawing millennials to apartments. In addition, other important developments include: a growing IT sector; planned construction of the Red Line connecting East and West Baltimore, and a pending build out of Harbor Point in Fells Point which is a $400 million project including six million square feet of mixed-use space on 27 acres of a former chromium processing plant.
- Redevelopment has been cited by Baltimore County Department of Economic Workforce Development in Towson, Sparrows Point, White Marsh (new outlet mall planned), Owings Mills (Metro Town Centre: mixed use project described as a Transit Oriented Development; (a commuter town center) Metro Centre.
- Anne Arundel County has several major employers including Northrup Grumman, Southwest Airlines, Anne Arundel Medical Center, and the Baltimore Washington Medical Center. Steady influx of new, expanding and relocating businesses this year includes: Ciena with 683 jobs retained; Chesapeake Bay Candle with 30 jobs; and Berry Plastic with 30 jobs. BWI Thurgood Marshall Airport has added WOW Air which will start nonstop service to Reykjavik, Iceland's Keflavik International Airport in early June 2015.
- The Howard County Economic Development Authority reports that Fort Meade and the National Security Agency are the big employers. Columbia is now undergoing tremendous growth: 20+ new stores in the mall, new apartments, mind/body spa opening December, 2014 according to What's Happening/ Columbia, Md.
- Carroll County also had some economic 'wins' in 2014. Random House LLC, a division of Penguin Random House LLC, the world's largest trade book publisher and one of the county's leading employers since the mid 1960's, will significantly expand their Westminster operations with the anticipation of increasing personnel. Advanced Biotechnologies moved their headquarters from Columbia to the Eldersburg Business Center in a move designed to allow for expansion of services and increasing employees.
Susan Brown originally spent many years in banking/finance before confronting her addictions. She has now been in recovery for 20 years. Her current interests, in which she has several certifications, are metaphysics and the healing arts. She has written for Examiner.com since 2009 and also writes for Om Times.