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Baltimore has 20% larger GDP than Charlotte despite only having ~200k more in the metro pop.
Yes, Charlotte has a massive financial center, but Baltimore houses the NSA, has a massive bio/healthcare industry dominance, has a port that functions as international trade hub for entire Mid-Atlantic region and that’s before we get into things like historical significance, etc..
I love Charlotte and it definitely can have a case made for top 20 material but I would not place it over B-more despite the cities ongoing issues.
Baltimore is the larger city by a significant amount when you adjust/account for administrative limits lol
If Howard County were to get reassigned to DC's MSA, that would reduce Baltimore's GDP lead to only $10B over Charlotte. It will be interesting to see if this will happen in the near future.
If Howard County were to get reassigned to DC's MSA, that would reduce Baltimore's GDP lead to only $10B over Charlotte. It will be interesting to see if this will happen in the near future.
It will also be interesting to see what the impacts of Truist bank and Honeywell HQ relocations are when these numbers are accounted for Charlotte.
If Howard County were to get reassigned to DC's MSA, that would reduce Baltimore's GDP lead to only $10B over Charlotte. It will be interesting to see if this will happen in the near future.
If I was a betting man.... I wouldn't bet on it. Baltimore is a lot more economically independent from DC than people make it out to be. The two have very distinctive spheres of influence of which HoCo lies deeply in Baltimore's. Last metric I've heard thrown around is only 1:4 people in Howard County work in the DC MSA.
Wait so which cities were in 11-15 tops? I thought both Denver an HD Phoenix made the cut.
Large hubs that are major players in certain industries
11. Seattle
12. Miami
13. Detroit
Medium sized regional hubs that excel overall in industry
14. Phoenix
15. MSP
16. Denver
17. San Diego
Medium sized hubs that excel in at least one major industry
18. Orlando
19. Charlotte
20. Tampa
21. Portland
Minneapolis is more than just a regional hub when it comes to business. It's a major player in food production (Cargill, General Mills, Land O’Lakes, etc.), medical devices (Medtronic, *Abbott, *Boston Scientific, etc.), industrial (3M, Ecolab, etc.), health insurance (United HealthGroup, etc.), finance (U.S. Bancorp, Ameriprise Financial, Thrivent Financial, Securian Financial Group, *Wells Fargo, etc.) and retail (Target, Best Buy, etc.).
Ah, gotcha. Yeah, Truist especially will have an affect as will Lowe's tech center and the AvidXchange expansion. There's also the possibility of Wells Fargo officially moving its HQ to Charlotte, which would be huge since most bank HQ only relocate due to a merger or acquisition. At any rate, overall Charlotte is seeing much more robust private sector growth than Baltimore and will most likely catch up to it in GDP within the next decade.
If I was a betting man.... I wouldn't bet on it. Baltimore is a lot more economically independent from DC than people make it out to be. The two have very distinctive spheres of influence of which HoCo lies deeply in Baltimore's. Last metric I've heard thrown around is only 1:4 people in Howard County work in the DC MSA.
I recall someone stating that one of Baltimore's MSA counties has experienced a pronounced increase in commuters to the DC MSA in recent years but I didn't see an official source.
I noted this part:
Looking at those who work in the broader D.C. metro area, those who live in counties between Baltimore and D.C. are also more likely to work in the D.C. metro area than those who live in Baltimore itself. While 25 percent of workers in Anne Arundel and Howard counties work in the D.C. metro area, only between 4 and 7 percent of workers in Baltimore City, Baltimore County, and Baltimore’s other suburban counties work in the D.C. area.
Residents of jurisdictions in the D.C. metro area are less likely to work in Baltimore than Baltimore metro area residents are to work in D.C – only 1 percent of D.C. residents work in the Baltimore metro area. More recent data will be necessary to determine whether Baltimore residents have started commuting to D.C. in larger numbers.
The stats come from the 2009-2013 ACS. It will be interesting to see the changes based on this year's Census.
Ah, gotcha. Yeah, Truist especially will have an affect as will Lowe's tech center and the AvidXchange expansion. There's also the possibility of Wells Fargo officially moving its HQ to Charlotte, which would be huge since most bank HQ only relocate due to a merger or acquisition.
I head the rumors about Wells Fargo moving it's HQ, that will definitely be interesting
Quote:
Originally Posted by Mutiny77
At any rate, overall Charlotte is seeing much more robust private sector growth than Baltimore and will most likely catch up to it in GDP within the next decade.
Global pandemics aside.... Baltimore's economy has been growing at a faster pace than Charlottes, despite the former cities & metros population stagnation.
Charlottes GDP growth from 2012-2019 $38 Billion
Baltimore GDP growth from 2012-2019 $43 Billion
A major deep water port, sitting on the Bos-Was corridor and having the NSA in your backyard comes with it's perks
Quote:
Originally Posted by Mutiny77
I recall someone stating that one of Baltimore's MSA counties has experienced a pronounced increase in commuters to the DC MSA in recent years but I didn't see an official source.
I noted this part:
Looking at those who work in the broader D.C. metro area, those who live in counties between Baltimore and D.C. are also more likely to work in the D.C. metro area than those who live in Baltimore itself. While 25 percent of workers in Anne Arundel and Howard counties work in the D.C. metro area, only between 4 and 7 percent of workers in Baltimore City, Baltimore County, and Baltimore’s other suburban counties work in the D.C. area.
Residents of jurisdictions in the D.C. metro area are less likely to work in Baltimore than Baltimore metro area residents are to work in D.C – only 1 percent of D.C. residents work in the Baltimore metro area. More recent data will be necessary to determine whether Baltimore residents have started commuting to D.C. in larger numbers.
The stats come from the 2009-2013 ACS. It will be interesting to see the changes based on this year's Census.
It will definitely be interesting to see if DC's insane CoL increase/population growth has altered the commuter share between the two cities.
I head the rumors about Wells Fargo moving it's HQ, that will definitely be interesting
Global pandemics aside.... Baltimore's economy has been growing at a faster pace than Charlottes, despite the former cities & metros population stagnation.
Charlottes GDP growth from 2012-2019 $38 Billion
Baltimore GDP growth from 2012-2019 $43 Billion
A major deep water port, sitting on the Bos-Was corridor and having NSA in your backyard comes with it's perks
Not necessarily a faster pace (would have to crunch the numbers) but it did add a bit more in GDP in raw dollars. But all things considered, it seems as though Charlotte is overall healthier as a metro. According to the Brookings Institute Metro Monitor tool, from 2008-2018, Charlotte's gross metropolitan product increased by 26.4% while Baltimore's increased by 15.7%. I will say that Baltimore's economy is healthier than most would think but unlike Charlotte, it's mostly on the strength of its suburban counties--most notably Anne Arundel. But hey, take it anyway you can get it is what I say.
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