KEY INDUSTRIES
AT-A-GLANCE
Baltimore is home to thousands of institutions and businesses that foster an innovative spirit among locals and visitors alike . The city boasts world-class advancement across our key industries , thanks to continuing investment and growth among local makers and creative entrepreneurs who are making waves both in our neighborhoods and across the nation .
INFORMATION TECHNOLOGY & CYBERSECURITY
• A hotbed of access to federal assets , the region is home to the headquarters of US Cyber Command and NSA at Fort George G . Meade and the Army ’ s Communications and Electronics Command at Aberdeen Proving Ground .
• Greater Baltimore has nine Centers of Academic Excellence in Cyber Defense — the same number as California , New York and the District of Columbia combined .
• The region leads in rankings that include the top science and technology workforce in the country , the nation ’ s fastest internet and the highest density of computer science R & D dollars . Plus , it ’ s among the top three largest metropolitan areas in density of workers for six of the most common IT job categories .
HEALTHCARE & BIOSCIENCES
• Maryland ’ s leading insurer , CareFirst BlueCross BlueShield , has its regional headquarters here in Baltimore , as do the federal government ’ s Centers for Medicare & Medicaid Services . Together , these organizations provide more than 10,000 jobs to the Greater Baltimore area .
• In 2021 , Johns Hopkins University was the top recipient of university funding from the National Institutes of Health . Maryland receives more federal R & D dollars per worker than any other state and has the second-highest density of science and health PhD holders .
• More than $ 700 million was invested in Greater Baltimore ’ s life sciences companies between 2019 and 2021 . Recent investments include $ 80 million for clinicalstage biopharmaceutical company Graybug ; $ 110 million for Thrive Earlier Detection , a healthcare company focused on earlier cancer detection ; $ 35 million for AsclepiX Therapeutics , focused on transforming the treatment of disease in ophthalmology and oncology ; and $ 45 million for cryotherapy provider CSA Medical .
• A historic leader in the field , the University of Maryland Medical Center ( UMMC ) created the world ’ s first Shock Trauma Center — and the firsts haven ’ t stopped there . In 2019 , UMMC pioneered droneoperated organ transportation for transplants , and in 2022 , doctors at UMMC performed the first pig-to-human heart transplant .
SOURCE : Economic Alliance of Greater Baltimore
HIGHER EDUCATION
• Baltimore ’ s metro region has 15 four-year institutions that educate 100,000 students each year , plus seven two-year colleges with nearly 200,000 students .
• Home to the # 8 national university ( Johns Hopkins ) and the # 9 art school ( MICA ).
• Two of Maryland ’ s four historically Black colleges and universities ( HBCUs ) are based in Baltimore : Morgan State University and Coppin State University .
SOURCE : Economic Alliance of Greater Baltimore
GOVERNMENT & DEFENSE CONTRACTING
• Maryland ranks # 5 in total defense spending and # 1 in grant spending per capita .
• Defense spending of $ 26.1 billion statewide works out to over $ 4,311 per resident , more than double the national average .
• Maryland has 20 military facilities supporting chemical and biological defense R & D , military intelligence , cybersecurity and more . Nearby Fort George G . Meade is the state ’ s biggest employer .
• Maryland ’ s 10,000-plus aerospace and defense contractors generate more than $ 39 billion a year . Fifteen of the nation ’ s top 20 aerospace companies are based in Maryland .
SOURCE : Maryland Department of Commerce , Economic Alliance of Greater Baltimore
• Ranked as the nation ’ s third-best city for women in tech in 2021 , according to a SmartAsset study .
SOURCE : Maryland Department of Commerce , Economic Alliance of Greater Baltimore
FINANCIAL SERVICES
• Greater Baltimore is home to more than 8,300 financial services firms , including powerhouses such as CareFirst and T . Rowe Price , which employs more than 4,000 people in Owings Mills and is building a new 450,000-square-foot headquarters in Harbor Point .
• Statewide , 8,380 financial services firms employ nearly 92,000 workers and generate $ 20.7 billion .
SOURCE : Maryland Department of Commerce
SPORTS
• A Greater Baltimore golf course hosted the 2021 BMW Championship , one of the most important golf events on the PGA TOUR , generating more than $ 53 million in economic activity .
• Baltimore is home to many national and world sporting events , including the UCI World Classic Series cycling race , the USA Lacrosse Convention and the Preakness Stakes . The city also won the bid to host the Central Intercollegiate Athletic Association ( CIAA ) Men ’ s and Women ’ s Basketball Tournament for a three-year run .
• Youth and amateur sports generates more than $ 225 million per year in direct spending on Maryland ’ s economy .
SOURCE : Maryland Sports Commission
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