News & Updates

Baltimore Development Corporation’s 2023 Annual Report

We are excited to share the Baltimore Development Corporation’s (BDC) 2023 Annual Report, highlighting our dedication to fostering an inclusive and thriving economy in Baltimore City. This comprehensive report highlights Baltimore's significant strides in economic development, community engagement, and business growth over the past year.

In 2023, BDC continued to foster innovation and collaboration, driving Baltimore’s economy forward and creating new opportunities for our residents and businesses. The report showcases our key initiatives, success stories, and the impactful partnerships that have helped shape our vibrant city.

Highlights include:

  • In 2023, BDC supported 326 businesses, leading to the creation and retention of 3,800 jobs, with over 44.5% being BIPOC-owned and 44% owned by women, driving $1.4 billion in private investment. 
  • Our Baltimore BASE (Business Assistance and Support for Equity) Network, launched during the pandemic with $11.7 million in ARPA funds, continued to provide essential aid, distributing $2.8 million to over 230 predominantly BIPOC and women-owned small businesses. 
  • The Baltimore Together Summit brought together 1,500 participants from various participants from public, private, and non-profit sectors, highlighting our collaborative approach. 
  • BDC was instrumental in projects like CFG Bank Arena, Home Chef’s East Coast facility, Lexington Market, and the reimagining of Harborplace, contributing to Baltimore achieving the second-highest GDP growth in Maryland for 2023, outpacing many major cities nationwide.

Looking ahead, BDC remains committed to supporting Baltimore’s economic growth. We invite you to explore our 2023 Annual Report to learn more about our accomplishments and future plans.

Thank you for your continued support.