Maryland Chamber of Commerce's 'State of the State' offers timeline for economic recovery
Baltimore Business Journal, 2/17/2021
During the Maryland Chamber of Commerce’s annual “State of State” event, the recovery and future of the State’s economy was discussed. One of the three panelists speaking at the virtual event, RESI Chief Economist Daraius Irani, predicted that it will take up to three more years for Maryland’s economy to recover fully from the impact of COVID-19. Irani explained that the pandemic has forced many out of work and also out of the labor force. Specifically, many women have dropped out of the labor force to take care of their families as social distancing guidelines caused school closures.
Future of Cities: pandemic provides Baltimore a chance for reinvention
Baltimore Business Journal, 2/5/2021
The Baltimore Business Journal brought together five local experts and leaders to discuss a path to a better Baltimore in the wake of the pandemic. One of the five, RESI Chief Economist Daraius Irani, emphasized the importance of developing transportation networks. Irani suggested that some of the city’s federal stimulus money be invested in infrastructure spending, particularly in under-invested neighborhoods. He argued that “we shouldn’t all have to have a car to get to work” and that a comprehensive transportation network would provide more job opportunities.
Fraught Future: As the Baltimore region stares down financial turmoil, some view it as an opportunity for rebirth
Baltimore Business Journal, 2/4/2021
Baltimore’s economy has suffered greatly because of the COVID-19 pandemic, but it wasn’t thriving beforehand either. While some are pessimistic on the future of Baltimore’s development, RESI Chief Economist Daraius Irani views the current circumstances as an opportunity to reinvent the city. Irani explained that for Baltimore to thrive, crime rates need to be reduced, the Inner Harbor must be renewed, and the city’s leadership should be strong and honest. Irani continues, “The key is to get more people with higher incomes to live in the city.”