| Apr 10, 2014
Image courtesy of: Jawed Karim
For decades, Baltimore was considered a primarily blue collar town, full of port workers, steel manufacturers, shipbuilders, and service employees dedicated to establishing the town. However, as the market has moved away from manufacturing, the focus has become more diverse and more professional, and now includes everything from electronics and telecommunications to finance.
One of the most distinguished fields in Baltimore is medicine and human health research. Johns Hopkins Hospital and University are located here, offering not only top-notch medical care, but also paving the way for medical research (and researchers looking to make a name for themselves).
Although tourism doesn’t contribute too much to the local economy, it has seen a surge in recent years. Downtown attractions, revitalization along the Inner Harbor, and luxury accommodations have helped paved the way for future growth and interest.
Who Lives and Works in Baltimore?
Although the city tends to get a bad reputation in the media and in television, it’s actually a diverse and well-educated city. An estimated 68 percent of residents over the age of twenty-five hold a high school diploma or higher, with advanced degrees coming in around 19 percent.
Residents enjoy a fairly high quality of life that is well-balanced with a city that understands their needs. Baltimore consistently ranks alongside national averages when it comes to things like unemployment, job growth, and market demand. Although the average income tends to be lower than the nation as a whole, a lower cost of living offsets too many of the problems associated with this type of economy. In fact, Baltimore is often considered to be one of the most affordable major cities on the East Coast.
Jobs and Companies in Greater Baltimore
If you take into account the Greater Baltimore metropolitan region, the economy takes on an even better prospect—according to Forbes, the area is ranked fourth in the nation for the number of high-paying jobs expected to rise over the next few years. Listed just below Washington, DC, Seattle, and Boston, Baltimore should gain around 70,000 jobs by 2017.
For those looking at existing jobs, the best places to start are the Johns Hopkins Medical Institutions. This includes the various hospitals as well as the university, both of which work together to provide cutting-edge healthcare. This healthcare-focused job force also extends to include the University of Maryland Medical System and LifeBridge Health.
Other large employers in telecommunications and utilities companies like Verizon and Constellation Energy Group; financial services companies like Legg Mason, T. Rowe Price Group, and Bank of America; and sporting goods provider Under Armour.
Life in Baltimore
Unless you work in the medical field, chances are you don’t come to Baltimore for the jobs. You come for the diversity, the affordable homes, the opportunities to develop your skills and explore your options. But if you’re like so many residents who fall in love with this rough-edged city with heart, you’ll find that the reasons to stay include a stable economy that’s only expected to keep growing.
If you are planning a move to the Baltimore, Maryland area, join us this month as we explore the ins and outs of the region. You can also visit www.NorthAmerican.com to receive a free quote for moving services to or from Baltimore.