Baltimore Back in Business?

While no one is saying the era of economic difficulty, to put it lightly, is over in Charm City or anywhere in the country for that matter, the local Baltimore economy is certainly showing signs of life as of late. Most notably, Baltimore’s advertising agencies seem to be picking up steam, creating new positions and hiring new employees to tackle new accounts. The ad industry is a fairly good barometer by which to measure the economic health of an area, as the various clients usually span the full spectrum of market sectors. Advertising dollars are among the first to be cut when money belts are tightened, so as local ad agencies announce expansion, many local job seekers and business owners may soon breath at least a small sigh of relief. Though Baltimore isn’t one of the major players in the ad industry and the overall size of area agencies don’t match the mammoth corporations found, say, further north in New York, any job growth is a welcome sign for a city that has suffered its fair share of financial woes. Agencies are generally hiring only a few people, but even those few jobs mark an increase in economic activity in the influx of ad dollars they represent. If companies can afford to increase their ad budgets, it’s fair to say that perhaps the business climate in Baltimore is on its way back to proper balance.Even before the financial collapse that has been sending ripples down the national economy over the past few years, Baltimore has been no stranger to economic unrest. Once a powerful industrial town, Baltimore has transitioned into a service oriented economy after a heavy period of deindustrialization that cost a large percentage of residents their jobs. But with a now well established presence in financial, business and health fields, the city’s long term economic outlook looks like it might have finally course-corrected in the right direction.

Posted by www.celebratebaltimore.com on September 24th, 2010 | Filed in Baltimore Economics, Baltimore Jobs | Comments Off

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