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June 2018

Latest Jobs Report Analysis

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For years, the Regional Economic Studies Institute (RESI) at Towson University has provided monthly updates on Maryland’s economy. The RESI team recently unveiled a new tool to allow you to better understand the economy of Maryland and the Mid-Atlantic Region: The Mid-Atlantic Regional Employment Workbook. The interactive dashboard allows you to see how the regional economy is changing for 29 different industries. Read on to see how the region’s economy is changing and to use the dashboard to solve questions related to your business.

RESI in the News

Bubbling up: Annapolis Arts and Entertainment District Renewed for Another 10 Years
Capital Gazette, 06/14/2018

The Annapolis Arts and Entertainment District was recently reauthorized for an additional 10 years following its previous 10-year designation beginning in 2008. According to an analysis completed by RESI, the Annapolis Arts District contributed approximately $62 million to state output in FY 2016 and generated $4.5 million in tax revenues. In addition to the economic gains made from the designation, one local business owner, Carolyn Marquis, noted the impact on the atmosphere. According to Ms. Marquis, "It creates a community of people that can appreciate different cultures, artistic mediums and a better community to live in—the atmosphere I want my business to thrive in."

With 2026 FIFA World Cup Awarded to North American Bid, Baltimore Moves Closer to Soccer's Biggest Stage
The Baltimore Sun, 06/13/2018

Baltimore has been named one of 23 potential host cities in North America for the 2026 FIFA World Cup, part of the combined bid made by the U.S., Canada, and Mexico. Baltimore’s M&T Bank Stadium received the third-highest score of 4.2/5 for the 70,000 seat facility, though Baltimore also received a low score of 3.0/5 for transportation infrastructure. RESI's Chief Economist Dr. Daraius Irani stated that the event would bring in tourists from across the world and impact local businesses and attractions. "It would be a great boom for tourism … Because we’re bringing in people from out of the region, that’s all new dollars. So even if they spend one dollar, that’s one dollar we didn’t have before."

If HQ2 Lands in Montgomery
The Business Monthly, 05/29/2018

Maryland is offering an incentive package worth nearly $8.5 billion to lure Amazon HQ2 to Montgomery County, which is the largest publically-known bid of any finalist. If selected, the new HQ2 and 50,000 associated jobs could have impacts not only for Montgomery County, but also neighboring regions. According to RESI's Chief Economist Dr. Daraius Irani, "It would be huge, not only for Howard, but also for Anne Arundel and Prince George’s counties and across the region ... It would result in job creation from various businesses and vendors, for everyone from IT [information technology] people to janitors, and every other type of job in-between."

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