Our Market

The greater Baltimore-Washington market offers access to all of the resources required for sustained growth and success in the U.S. and abroad. The area consists of the region’s largest city, Baltimore, the state capital, Annapolis, and the surrounding Maryland and District of Columbia metropolitan areas.

The fourth largest marketplace in the nation, the region is located on the Eastern seaboard halfway between Boston and Atlanta, London and Los Angeles. Also the fourth largest population, the region is significantly larger than even the fastest growing U.S. metro areas, and is expected to grow more than eight percent by 2010.

A Capital City and Window on the World

The region includes the capital cities of both the state and the nation, and is a center for international trade. Maryland’s economy continues to outperform the country as a whole, and the greater Baltimore-Washington economic and business environment is among the worlds strongest. According to an economic study of 12 international cities, the region out-produced all metro areas with much larger populations—excluding Tokyo, with four times as many people.

Greater Baltimore-Washington also has a large and growing number of globally owned companies. The same study identified 700 such companies in 2006 with overseas headquarters in 39 countries. Additionally, the region had 23 Fortune 1000 companies and the largest number of firms (46) on the Inc. 500 list for ten consecutive years.

Location, Location, Location.

The region ensures access to all of the resources required for business success—infrastructure, services, financial and human capital. Federal procurement alone reached $52.6 billion in 2004. But the economic impact for the area goes beyond the business of government and federal consumption. The value of government resources to the private sector is undeniable, with the region ranking sixth nationally among "Hot Cities for Entrepreneurship" in 2005. 

Home to an astonishing level of human capital, the region boasts the most highly educated workforce in America. With the highest concentration of knowledge workers, the region also leads the nation in the number of math and computer science employees and has the highest percentage of technical talent—twice the national average.

Sectors and Services

Traditionally, the region has been strong in government contracting, natural resources, and manufacturing—in this sector alone, 19 of 20 industrial categories are represented with corporate headquarters of leading businesses. Historically, the region’s rich resources played a vital role in the economy, most notably the largest estuary in America (Chesapeake Bay). Resource-based industries continue to be an important economic driver, with strong agriculture, energy, forestry, fisheries, recreation, and mining sectors.

In the past two decades, technology has become a leading force behind the region's economic growth. A sustained surge of technology companies has made this “Silicon Valley of the East” their home, especially in the areas of aerospace and defense, biotech and bioscience, information technology, and telecommunications.

Geographic Profile

Total Area

Roughly, Baltimore City and surrounding region including suburban Maryland and the District of Columbia metropolitan area

Population

• 6.1 million for the region according to the 2005 U.S. Census

• Leads the nation in several categories: educational attainment (see below), median household income ($74,600), and Gross Regional Product per capita ($5.9 million)

• Of adults 25 years or older, 42% have a Bachelor’s degree or higher and 19% have advanced degrees

• One in 10 employees work in the technology sector — twice the national average

• Leads the nation in the number of math and computer science employees

• Nation’s highest concentration of knowledge workers — more than 1.1 million employees — who use, analyze, and develop ideas and information on a daily basis

• Knowledge workforce is typically employed by the professional services, information technology, healthcare, education and research, and media/arts industries

• All jobs in these industries require an Associate’s degree or higher; More than 70 percent require a Bachelor’s degree or higher

Official language

• English

• More than 20 percent of residents speak a language other than English at home