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Institutions and Incubators

As home to several major workforce industries, Baltimore provides a built-in attendance base, led by major players in the medical field and one of the largest concentrations of healthcare employees in the country.

Once a blue-collar steel town, Baltimore is in the middle of a post-industrial renaissance. Under Armour founder Kevin Plank is spearheading a $5.5 billion-dollar project in South Baltimore that’s attracting some major cybertech companies, putting Port Covington on track to become a “first-of-its-kind cyber-ecosystem,” according to Marc Weller, lead developer of the project. Add that game-changing initiative to an already strong stable of incubators, startup accelerators, and acclaimed universities, and Baltimore looks more like an innovation hub poised to clip at the heels of its big-city neighbors in Washington and New York—or even Silicon Valley.

Beyond cyber, other areas primed for fast growth are the health and biotech fields. A supportive startup culture, buoyed by the surrounding cast of top medical schools and hospitals, means that Baltimore is innovating with devices, drugs, and inventive technology.

The University of Maryland, Baltimore’s biomedical research center, capped by BioPark, is among the schools and settings pioneering within the medical sphere. The Association for University Research Parks named BioPark "Outstanding University Research Park of the Year" in 2017. Faculty at the school have received more than $2 billion in funding in the last four years, spanning fields that include cancer, genomics, vaccines, neuroscience, regenerative medicine and much more. And at Johns Hopkins Technology Ventures, which aims to support inventors and entrepreneurs in fields such as therapeutics, medical devices, computing and physical sciences, more than 500 invention disclosures were submitted in 2017 alone.

Health and tech aren’t Baltimore’s only industries in the midst of a major moment, though. Read on for a snapshot of the city’s top fields—and hear from a young entrepreneur whose emerging company is developing innovative, life-saving devices.

HEALTHCARE

  • Johns Hopkins was named the nation’s top hospital for the 22nd time in 23 years by U.S. News & World Report. Combined, the region’s hospitals ranked in the top 50 for 33 specialties.
  • Regional hospitals and medical centers have recently completed expansions totaling nearly $3 billion.
  • The region is home to the third-highest concentration of healthcare services employees in the country.

Source: Economic Alliance of Greater Baltimore

BIOSCIENCE 

  • The Baltimore-Washington region was ranked fourth in a list of the nation’s top 10 biopharma clusters in 2018.
  • Baltimore has the nation’s second highest concentration of biohealth professionals.
  • More than 500 biotech firms are based in Maryland.
  • The region takes third place in NIH funding, a sum of $1.456 billion, 42% of which was awarded to Johns Hopkins.

Source: Economic Alliance of Greater Baltimore, Genetic Engineering & Biotechnology News (GEN); Maryland Marketing Partnershi

HIGHER EDUCATION

  • Baltimore’s universities are highly rated by the U.S. News & World Report, including University of Maryland, Baltimore’s ranking as the nation’s ninth most innovative school and Johns Hopkins’ as the second-best research medical school, with top five rankings in the seven medical specialties.
  • The Greater Baltimore region was named one of 19 global Knowledge Capitals, according to the Brookings Institution.
  • Baltimore has more than 30 colleges and universities, and ranks 4th among the nation’s metro areas for advanced degrees.

Source: U.S. News & World Report, Economic Alliance of Greater Baltimore

GOVERNMENT

  • Greater Baltimore is the largest federal government hub in the country after Washington, DC.
  • Home to the highest concentration of state government employees out of the 25 largest metro areas.
  • Maryland counted 146,707 non-military federal jobs in 2017—and these jobs offered salaries that averaged just over $100,000, 26 percent higher than the national average.
  • Outside of the D.C. Metro, Greater Baltimore received more than twice the federal spending per capita than any of its peer metropolitan areas in the Mid-Atlantic.

Source: Economic Alliance of Greater Baltimore, Maryland Chamber of Commerce

TECH

  • The region boasts a higher concentration of IT professionals than Silicon Valley or Boston.
  • IT jobs accounted for 86 of every 1,000 private sector positions in Maryland in 2016, and are expected to grow eight percent in Baltimore over the next 5 years.
  • Baltimore placed third in a ranking of the best cities for women in technology.

Source: Economic Alliance of Greater Baltimore; CompTIA, Maryland Marketing Partnership; Maryland Chamber of Commerce

DEFENSE

  • In the federal fiscal year 2016, Greater Baltimore received more contract obligations than 39 states.
  • Maryland’s $57.4 billion military industry represents nearly one-fifth of the state’s total output.
  • 15 of the top 20 aerospace and defense companies are based in Maryland.

Source: Economic Alliance of Greater Baltimore, Maryland Marketing Partnership

CYBERSECURITY

  • Salaries for cybersecurity jobs in the Baltimore area start in the six figures.
  • More than 42,000 Marylanders work in cybersecurity—the second highest concentration in the nation
  • 11 Maryland-based businesses were named to the Cybersecurity 500, a compilation of the world’s leading cybersecurity companies.

Source: Economic Alliance of Greater Baltimore; Burning Glass Technologies

PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES 

  • 121,000 people are employed in the PST industry in Greater Baltimore.
  • Nearly one out of every 10 jobs in Greater Baltimore is in the PST sector.
  • Greater Baltimore’s PST employment has grown nearly 17 percent over the last 10 years, on pace with the national average.
  • More than half of PST jobs in Greater Baltimore are in engineering and architecture, computer systems design, and scientific research and development.

Source: Economic Alliance of Greater Baltimore

FINANCE

  • Employment in the financial services sector in Greater Baltimore has increased 16 percent over the past 10 years.
  • 8,340 financial services firms are based in Maryland, generating $20,87 billion and employing nearly 95,000 workers.
  • More than 3,000 students graduate from Maryland colleges and universities with a focus relating to finance every year.

Source: Economic Alliance of Greater Baltimore, Maryland Marketing Partnership

SPORTS

  • Greater Baltimore experienced a 234 percent increase in gaming employment over five years.
  • Baltimore Ravens home games attracted more than 560,000 attendees during the 2016 season.
  • Oriole Park at Camden Yards was ranked the second-best baseball park in the nation by Forbes.

Sources: Forbes, Economic Alliance of Greater Baltimore; ESPN

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