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January 8, 2010

New mayor must reach business beyond downtown

Too often the the mayor of Baltimore's realtionship with business is characterized by how many tax breaks she's handing out to developers and how many new buildings are going up downtown.

Baltimore business is much more than downtown and Harbor East, and the mayor needs to recognize this. Small manufacturers, retailers, office landlords across the city are coping with the usual nuisances: vandalism, service failures, safety. Incoming Mayor Stephanie Rawlings Blake said the right things at her press conference yesterday about the importance of business. But to keep her promise she needs to connect with companies across the city.

Here's some radio yacking about the topic. This morning on WBAL with Bill Vanko. And on WYPR with Sheila Kast.

Posted by Jay Hancock at 10:42 AM | | Comments (2)
        

Comments

Downtown is almost certainly the economic engine that pulls Baltimore's train, so the mayor must continue to support smart downtown development. However, commercial corridors and districts throughout Baltimore are key to the stability and vitality of neighborhoods. This is not an either/or question. The new mayor should make both a priority.

Of course, it all depends on what you mean by "Downtown." There are older parts of Downtown with increasing vacancy rates, particularly around Hopkins Plaza. If these trends continue, the region will suffer as the traditional center of business loses its lustre. None of us in the region can allow this to happen. Fortunately, I believe that our new mayor - like Mayor Dixon before her -- will recognize the importance of reinvesting in the older parts of Downtown. It's not as dramatic as creating new office districts from whole cloth elsewhere, but it must be done.

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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