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Economic Landscape, Impact & Opportunity
The proposed budget for fiscal year 2025 was recently released, identifying focus areas over the next year and reinforcing the commitment to positioning the county as the premier destination to live, work, play and thrive.
I encourage you to take advantage of resources such as The Office of the Comptroller's State of the Economy Series report, which sheds light on immigration's impact on Maryland's economy and the World Trade Center Institute's Global Economic Report 2024 that provides insights for navigating today's environment.
Understanding the economic landscape helps us to plan for the future, prioritize resources and remain competitive.
Sincerely,
Jennifer Jones, CEO |
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$2.4 billion Fiscal Year 2025 Proposed Operating Budget |
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The County Executive recently released his $2.4 billion proposed Fiscal Year 2025 Operating Budget to the Howard County Council. The budget contains investments in education, public safety, healthcare system, transportation, economic development, environmental protection and more.
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State of the Economy Series Report |
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This new brief explores the impact of immigrants in Maryland’s economy, where foreign-born individuals represent 16.7% of our population and 21% of our labor force. Maryland’s economy has benefited from international migration in recent years and especially coming out of the pandemic. The brief also identifies key industries in Maryland – federal government, healthcare and STEM occupations – where immigrants are limited by legal and procedural barriers from fully participating.
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The World Trade Center Institute’s Global Economic Report 2024 |
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The World Trade Center Institute’s Global Economic Report for 2024 examines Maryland’s position within the economic landscape. Despite challenges like the recent bridge collapse and economic challenges faced nation-wide, there are some promising signs that our state is poised for growth.
Access the full report to equip yourself with insights for navigating today's economic landscape. |
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Response to the Port of Baltimore Disruption |
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If your business has been impacted, please complete this business impact survey to help provide a better understanding of the situation so the state, city and counties can help develop solutions for your business.
Port of Baltimore Emergency Business Assistance Program
In response to the recent disruption of operations at the Port of Baltimore, the Maryland Department of Commerce is launching the Port of Baltimore Emergency Business Assistance Program. This funding resource aims to provide temporary economic and financial relief to eligible businesses impacted by the disruption. |
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Port of Baltimore Worker Retention Program
As part of Governor Moore's response to the economic impact caused by the recent collapse of the Francis Scott Key Bridge, Maryland’s Department of Labor has established the Port of Baltimore Worker Retention Program. This initiative is designed to provide financial assistance to businesses to retain their workforce during this challenging period.
Eligible businesses must demonstrate financial hardship due to the Francis Scott Key Bridge collapse. |
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| Howard County Economic Development Authority, 6751 Columbia Gateway Drive Suite 500, Columbia, United States 21046, United States |
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