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Old February 19th, 2020, 06:07 PM   #52741
murfneil
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In greater Govans alone, 64 percent of 18 and unders are being raised by single mothers. For all their heroic efforts, this is a recipe for failure.
Thanks for making my point. If these mothers have a free, quality option to care for their young children, doesn't that better position them to be part of the workforce? Won't their children and communities benefit as a result?
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Old February 20th, 2020, 12:38 AM   #52742
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There's a reason all the business growth in America is in Raleigh, Atlanta, Northern Virginia, and Texas. We are absolutely squandering an amazing economy that can't last forever.
Except it doesn't seem like the large companies Baltimore (and Maryland) loses are going to those places. Some are maybe, but Legg is going to a company in NorCal, Discovery went to New York, Black and Decker went to a company in Connecticut, and Constellation went to a company in Chicago. I'm not saying the tax environment here is helping, but addressing the tax situation is not the magical cure-all many want it to be, and not the determining factor of whether we can keep these large companies. These companies are going where they can attract talent, new business, and sources of financing. And the talent right now does not seem to be interested in Baltimore compared to other locations.

Anecdotally the millennials I know left Baltimore to move to other high cost cities. The moves were not because of taxes, but because of the crime perception, the perceived lack of options (dining, recreational, etc.), and difficulty in getting places.

We can and should make the cost of doing business better in Baltimore, but only if it can realistically be done without making the situation worse on the crime and transportation front.
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Old February 20th, 2020, 02:51 AM   #52743
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Crime is the biggest impediment to business wanting to move their HQs here. They want to be able to attract a younger workforce (Millenials) and the city has the affordable housing stock, the lively entertainment and dining experiences. The crime perception is what is stopping a lot of investment. If you are looking to relocate to Maryland are you picking Bethesda/Silver Spring or even Columbia to a lesser extent or are you picking Baltimore...

I do have longer term hope as Amazon HQ 2 comes online and other businesses move operations to be around DC and Amazon it will price smaller outlets hopefully north to Columbia, MD which in turn will push Columbia based businesses north to Baltimore. The second big long term hope is Port Covington there seems initially to be a push make this a destination for Cyber Security firms. With some initial success in attracting some incubator funds from Fulton and Silicon Valley.

I do agree though there seems to be a lack of focus on from the leadership in attracting businesses from outside the state. I had hopes with Hogan's administration and their business focus that they would recruit in Philly/NewJersey and New York to attract businesses, but and correct me if I am wrong, I didn't really see much of that happening during in term.

Given the Legg Mason announcements and what seems to be a round of layoffs coming in the future. That is a highly skilled workforce that will seek employment. The state and city should be on a recruitment push in PA, OH, DE, NJ, and NY to attract a financial services firm with tax incentives to move if not all but some of their operations to Harbor East.
JPMorgan Weighs Shifting Thousands of Jobs Out of New York Area

And, in February 2018, when Amazon was searching for an HQ2 location, Dimon said he’d call the governor of whichever state offered the second-best package and move 50,000 people there to get the same deal.

“I’m not kidding,” Dimon said at the time. “You gotta fight for your company, folks, just keep that in mind. If you don’t, no one else does.”
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Old February 20th, 2020, 04:05 PM   #52744
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More high paying jobs=larger and higher tax base that allows the city to afford things to help deter crime and improve the city. Without the money, its hard to do. Can't support the citizens with low wage service industry jobs.
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Old February 20th, 2020, 04:22 PM   #52745
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Except it doesn't seem like the large companies Baltimore (and Maryland) loses are going to those places. Some are maybe, but Legg is going to a company in NorCal, Discovery went to New York, Black and Decker went to a company in Connecticut, and Constellation went to a company in Chicago.
Those were all companies that were bought, not relocations. Companies everywhere have an interest in buying out competition. It's too bad UA didn't take out Lululemon when they had the chance.

It's insane if you track to corporate relocations and regional headquarters the cities I mentioned. Every major brand in tech has a tower in Northern Virginia. Northern Virginia attracted the biggest fish in the country in Amazon, plus also gained Nestle, Volkswagen, Northrop Grumman, Parsons, Arconic, and more in recent years, plus, Phillip Morris moved its headquarters from NYC to Richmond.

What major relocation has Maryland attracted recently?

It's pretty simple, if you want to work with DC, are you going to choose Northern Virginia or Maryland? Maryland has a higher tax rate and higher regulations. Also, the schools in Northern Virginia are a lot better than the schools in the D.C. suburbs of Maryland because the economy is a lot better.

Maryland gets by because of the Federal Government, Port of Baltimore and some major institutions, but it could be so much more with a competitive business environment. And that would really boost Baltimore. Baltimore may have its issues, but it would be an affordable place to setup a business. I worked in Northern Virginia for a few years, and seeing the amount of investment plummet when you cross the river from Fairfax County into PG County was incredibly depressing to see everyday.
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Old February 20th, 2020, 04:44 PM   #52746
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Thanks for making my point. If these mothers have a free, quality option to care for their young children, doesn't that better position them to be part of the workforce? Won't their children and communities benefit as a result?
Didn't make your point. Nothing changes if men refuse to be a part of their kids' lives.

You think a lack of money has been the problem? Where have you been since the Great Society started in the mid-60s?
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Old February 20th, 2020, 05:01 PM   #52747
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Didn't make your point. Nothing changes if men refuse to be a part of their kids' lives.

You think a lack of money has been the problem? Where have you been since the Great Society started in the mid-60s?
Not counting on changing the behavior of men, but we can empower women -- not by hands-off handouts but through hands-on engaged opportunity.
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Old February 20th, 2020, 05:34 PM   #52748
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Iíll offer up two positive stories to start the day:
1) https://www.bizjournals.com/baltimor...s-largest.html

ZeroFOX doesnít get enough publicity around here. This funding round goes to show investors continue to see great potential. For those that donít know, ZeroFOX has multiple office locations - Bangalore, London, and Santiago, with the Baltimore HQ being the largest. However, the Baltimore office is bursting at the seams, so it will be interesting to see how the campus might expand. The CEO owns multiple properties nearby, and recently renovated 2 rowhomes on the 1800 block of S Charles. There were rumors they were going to use those as office space, but that didnít happen. Another rumor was that they might expand into the Bumper Globe building next door. It also wouldnít be the craziest thing to see them relocate entirely to Port Covington. As a former employee, Iíll say that the client list of ZeroFOX is extremely impressive and evenly distributed across all industry sectors. Iím excited to see how they grow.

2) The 160 room WhyHotel pop-up at 225 N Charles St has ended, as 239 of the buildingís 346 units are now leased.
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Old February 20th, 2020, 09:05 PM   #52749
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Not counting on changing the behavior of men, but we can empower women -- not by hands-off handouts but through hands-on engaged opportunity.
Old slogan. Heck, I'm old enough to remember when Empowerment Zones were going to do all that. Didn't happen, obviously.

Kirwin is a bottomless tax grab and a lot of airy promises.

Not a big deal to me, financially, but you can be sure businesses will be looking closely at their new bottom line.
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Old February 20th, 2020, 09:26 PM   #52750
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Please bring back my B-more to me

Grew up in Baltimore and visit B'more about 4 times per year. Over the past week, I spent four days in Baltimore. Drove around town and had a few lunches and dinners, while checking some development on the West Side, downtown, and East Baltimore.

First of all, I saw plenty of police downtown just surveying the area. Secondly, a plethora of potholes and uneven roads. Third, although bleak because of winter, many areas look ghetto (West Baltimore, near Hopkins, Greenmount, Bel Air Road, Brooklyn, and even downtown. Finally, many advertisements (TV and billboards) for the Mayoral candidates.

Conclusion is that Baltimore will never get its $&*# together until the following happens in this order:

1) Leadership, real honest leadership. Not sure who is the best, but the recent past is unacceptable.
2) Crime mitigation. People are dying everyday and businesses and people are reluctant to work or live in a city with such a high crime/murder rate. All the money spent and nothing but higher bad statistics. Bring in the National Guard, the Army, whatever.
3) Tax Rate reduction. Make Baltimore City as economically appealing as its neighboring counties.
4) Schools and Neighborhoods. Make the schools and neighborhoods attractive packages for people to want to live in B-more.
5) New projects that will reverse the tide of bad national media attention. Port Covington is a great project, while the Mechanic Theater is just a disaster.
6) and probably also 1) Pray, pray, and pray. I am not a religious person, but I am starting to think of Baltimore news as "No news is great news." We need positive stories and glimmers of hope.

I am probably too pessimistic, but my hometown of the 60s and 70s has lost so much. The only real positives, and I mean world class is our Port, hospitals, and crab cakes.
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Old February 20th, 2020, 09:28 PM   #52751
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Originally Posted by JJHi View Post
Iíll offer up two positive stories to start the day:
1) https://www.bizjournals.com/baltimor...s-largest.html

ZeroFOX doesnít get enough publicity around here. This funding round goes to show investors continue to see great potential. For those that donít know, ZeroFOX has multiple office locations - Bangalore, London, and Santiago, with the Baltimore HQ being the largest. However, the Baltimore office is bursting at the seams, so it will be interesting to see how the campus might expand. The CEO owns multiple properties nearby, and recently renovated 2 rowhomes on the 1800 block of S Charles. There were rumors they were going to use those as office space, but that didnít happen. Another rumor was that they might expand into the Bumper Globe building next door. It also wouldnít be the craziest thing to see them relocate entirely to Port Covington. As a former employee, Iíll say that the client list of ZeroFOX is extremely impressive and evenly distributed across all industry sectors. Iím excited to see how they grow.

2) The 160 room WhyHotel pop-up at 225 N Charles St has ended, as 239 of the buildingís 346 units are now leased.
ZeroFox's expansion is very exciting. It's part of that bursting Wells St. corridor in SoBo, which is one block from Port Covington. Their employees are all over the neighborhood going to gyms and eating lunch and dinner. I look forward to seeing how they handle this growth from a real estate perspective.
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Old Yesterday, 12:23 AM   #52752
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Old slogan. Heck, I'm old enough to remember when Empowerment Zones were going to do all that. Didn't happen, obviously.

Kirwin is a bottomless tax grab and a lot of airy promises.

Not a big deal to me, financially, but you can be sure businesses will be looking closely at their new bottom line.
agree

per pupil funding only correlates positively with performance up to a point after which increased funding doesn't appreciably improve school performance further

if we are going to have a Marshall plan to upgrade the state and the city it should go towards infrastructure. the long term payoff will be significant for everyone.
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Old Yesterday, 12:55 AM   #52753
Itus
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Those were all companies that were bought, not relocations. Companies everywhere have an interest in buying out competition. It's too bad UA didn't take out Lululemon when they had the chance.

It's insane if you track to corporate relocations and regional headquarters the cities I mentioned. Every major brand in tech has a tower in Northern Virginia. Northern Virginia attracted the biggest fish in the country in Amazon, plus also gained Nestle, Volkswagen, Northrop Grumman, Parsons, Arconic, and more in recent years, plus, Phillip Morris moved its headquarters from NYC to Richmond.

What major relocation has Maryland attracted recently?

It's pretty simple, if you want to work with DC, are you going to choose Northern Virginia or Maryland? Maryland has a higher tax rate and higher regulations. Also, the schools in Northern Virginia are a lot better than the schools in the D.C. suburbs of Maryland because the economy is a lot better.

Maryland gets by because of the Federal Government, Port of Baltimore and some major institutions, but it could be so much more with a competitive business environment. And that would really boost Baltimore. Baltimore may have its issues, but it would be an affordable place to setup a business. I worked in Northern Virginia for a few years, and seeing the amount of investment plummet when you cross the river from Fairfax County into PG County was incredibly depressing to see everyday.
Yeah I'm not disputing all that. I agree on the need to improve business friendliness and lower costs. But we were talking about Baltimore losing HQs in the context of Legg Mason, whether it be by relocations or acquisitions.

My point was that there's more than tax rates and costs as the influencing factor. Otherwise companies would be flocking to Kansas. No one will move to Baltimore if there is unfettered crime, even if costs and tax rates dropped dramatically.

Most of the high growth areas you mention are concentrated around large state capital cities, areas with access to policymakers, lobbyists, law firms, government employees, etc. (Raleigh, Nashville, Austin, Richmond, Columbus, Atlanta, etc) Favorable business conditions help, but there's more to growth than just taxes. Otherwise you'd see the same level of growth in other cities in all of these respective states. Are the tax rates in Lubbock, Memphis, and Cleveland really that different from these other cities? I think you don't dispute this point. I interpret what you're saying as, since we have the education and talent (and other favorable conditions) that we could attract a lot more business by just cutting taxes. I agree it will help, but i just doubt things are ever really fully resolved so simply.
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Old Yesterday, 03:53 PM   #52754
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... 6) and probably also 1) Pray, pray, and pray. I am not a religious person, but I am starting to think of Baltimore news as "No news is great news." We need positive stories and glimmers of hope. ...
Agreed. FWIW, I've been mentally compiling a list of very positive Baltimore stories that fly below the local media radar. Or are commented on briefly then disappear. Some very incredible people and businesses firing up. Dawn is coming.
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Old Yesterday, 04:07 PM   #52755
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but my hometown of the 60s and 70s has lost so much.
Sorry, but I take issue with this line of thinking. First of all, the Baltimore of the 60's and 70's was marked by white flight, loss of industry, and increasing crime. The real "decline of Baltimore" began in the 1960's and continued, mostly unchecked, until the late 90's. Since about 2000, Baltimore has improved a lot, mostly through gentrification.

Second, our "new" problems are what has been going on since the riots of 2015. So now, it's a matter of getting us back on track to the progress we were making before the riots happened and continuing our transition to having a white-collar economy.

And anecdotally, people who visit me in Baltimore - who haven't been here for a few years - are pleasantly surprised by the progress we have made, at least in the neighborhoods my friends and family want to visit.
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Old Yesterday, 05:27 PM   #52756
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Regarding ZeroFox, someone mentioned earlier about Baltimore losing yet another publicly-traded company with Legg. ZeroFox is preparing for an IPO, so we may be gaining a publicly-traded company soon.

Though Baltimore's financial sector has been disappearing for a long time, one positive that I remember hearing once that was that, between TRP and Legg, something like 5-10 percent of all global assets were managed in Baltimore. Don't know how true that is/was, but I always thought it interesting. But I guess this is just the next step in the long decline of Baltimore's financial sector, but hopefully, we're also seeing the next step in the rise of Baltimore's cybersecurity sector. We're much better off being the global center of cybersecurity than we are hanging onto a piece of the financial sector, but obviously, it'd be nice to have both.
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