JOHN FOSTER
Here in Baltimore , the tech industry is growing fast and ripe with opportunity , with a projected growth rate for the industry that is nearly twice the expected national job creation rate . So what makes our city different from others across the country ? We talk to local tech leaders and ask them “ Why Baltimore ?”
There ’ s no mistaking that all around the country , the tech industry is a hot market . You can see it in the numbers : the number of tech companies nationwide has increased 5 % year-over-year , according to a recent report from trade organization Computing Technology Industry Association ( CompTIA ). By December 2022 , the industry was counting its 25th straight month of net employment growth .
As for Baltimore ? Well , this city ’ s tech businesses are having a moment . In fact , the 2022 edition of the Inc . 5000 hot list , which showcases the country ’ s fastest-growing businesses , featured 63 Baltimorearea companies . One of those listed was downtown-based digital firm Fearless , which recently marked pivotal achievements like launching a social impact-focused apparel brand and securing a government contract worth $ 120 million .
Fearless isn ’ t alone . In Baltimore , the tech sector accounts for nearly 10 % of the local economy — higher than the national rate — and drives $ 19 billion in economic output . And the individual tech workers are cashing in , too , with median wages for Baltimore tech jobs clocking in at 120 % higher than the median of other area jobs .
While those numbers are already robust , CompTIA ’ s report estimates that the city ’ s tech workforce could grow by 14 % in the 10-year span between 2022 and 2032 , creating about 10,400 new jobs . Some of that will come from hot tech businesses investing in their communities , such as Fearless ’ s investment in tech incubators like Hutch , and nonprofits like Be . Org , a youth leadership organization that ’ s creating programs to teach virtual reality development and programming to Baltimore ’ s young students . Plus , Baltimore is home to a host of tech incubators , such as AccelerateBaltimore and bwtech @ UMBC .
The stats don ’ t lie — tech is booming in Baltimore , but what exactly is it about Charm City that makes it stand out as a hot spot for tech ? We posed that question to industry leaders and founders of companies devoted to increasing youth interest and diversity in tech .
JOHN FOSTER
CHIEF OPERATING OFFICER & PARTNER , FEARLESS
H omegrown in Baltimore as part of the UMBC business incubator , software company Fearless committed to the city in 2016 when they moved downtown thanks to the help of a TechConnect grant from Downtown Partnership of Baltimore . Now , they ’ ve expanded to four floors and are growing fast while providing software solutions in the government , healthcare , education and nonprofit sectors .
On what makes Baltimore special :
Baltimore is a passionate place . It is a city full of people and organizations who ’ ve made it their mission to improve our community , and we ’ ve been engaging with and supporting these groups since we were founded . Baltimore is uniquely located , with hundreds of tech companies , seven large tech incubators and six major universities within a few miles of downtown Baltimore .
On the local tech community :
The city ’ s convergence of markets allows for natural collisions and collaborations to take place that enhance creative and innovative processes . But Baltimore ’ s tech ecosystem has not reached its full potential yet . There is room for explosive growth . It is our goal to open new pathways into tech so more Baltimoreans can benefit from a career in tech . We are working to build a technically skilled and empathetic workforce to create a world where good software powers the things that matter .
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