Minority Entrepreneurship

In 1997, the Baltimore region was home to 180,850 businesses, 45.2 percent of the state total (400,203). Minority-owned enterprises represented 15.8 percent of firms in the region. Women-owned businesses represented 28.7 percent, Blacks represented 9.2 percent and Asian and Pacific Islanders 4.5 percent. For the state as a whole, minority-owned enterprises represented 20.6 percent of all firms. Women-owned businesses represented 28.9 percent, Blacks represented 11.8 percent and Asian and Pacific Islanders 5.5 percent.

Within the region, only three counties were home to American Indian and Alaska Native-owned establishments. Baltimore City had the highest total number of minority-owned and Black enterprises. Howard County had the highest percent of firms controlled by Asian and Pacific Islanders.

In 2004, non-residential new construction in the region totaled $799.2 million. Major construction categories were office ($353.2 million), educational ($150.2 million), and commercial ($83.5 million). Within the region, the construction costs for new office buildings was highest in Baltimore City ($190.9 million); Baltimore County ranked first in educational construction costs ($44.0 million); Anne Arundel County recorded the highest level of commercial construction costs ($25.9 million); Carroll County led all jurisdictions in health care facilities construction costs ($14.9 million); and Howard County posted the highest amusement/arts/recreation construction costs ($25.9 million).

From 1990 to 2004, the total expenditure for non-residential new construction increased in every jurisdiction, except one. Harford County experienced a 10.4 percent decline. Baltimore City registered the largest increase at 133 percent, and Carroll County followed at 98 percent.

From 1994 to 2003, office space in the region rose by 22 million square feet. Most of this growth, 15 million square feet, came on line since 1999. All reporting jurisdictions posted increases in available square feet for office space. Office vacancy rates in the region have ranged from a low of 7.7 percent in the fall of 1998 to a high of 14.9 percent in early winter 2002 and declined to 13.9 percent in the 4th quarter of 2004.

Industrial vacancy rates in the region reached their lowest, 12.1 percent in the 4th quarter of 2004 since 1997. They had ranged from as high as 22.3 percent in early 1998.

Retail Sales by Major Group

As measured by sales and use tax receipts, a comparison of FY2000 and FY 2004 retail sales for the region reveal significant trends. The FY 2004 totals eclipsed FY 2000 totals by $185.4 million in tax receipts, an increase of 17.2 percent. Among merchandise categories, building and industrial supplies enjoyed the largest percentage gain (26.4 percent) adding $34.2 million to its FY 2000 totals. In absolute numbers, sales of general merchandise topped the list, growing by $43.1 million (22.7 percent). While furniture and appliance sales grew by $3.2 million, sales in this category increased by the lowest rate (2.8 percent) of any product type.

Within the region, retail sales in Carroll County captured the largest percentage gain (47.0 percent) over FY 2000. But Anne Arundel County, where retail sales were up 26.0 percent, led with the largest absolute gain in sales tax receipts, $56.6 million. Baltimore County trailed Anne Arundel by less than $3 million. Baltimore City had the lowest percentage gain (6.4 percent) in the region.

There were also significant gains and losses among merchandise categories. Revenue from sales of apparel and building and industrial supplies were up 50.7 and 55.9 percent respectively in Anne Arundel County. General merchandise and building and industrial supplies were the biggest gainers in Carroll County, growing by 61.9 and 96.6 percent respectively. Revenue from utility and transportation sales increased by 473 percent in Harford County. Revenue from furniture and appliance sales fell by 8.5 percent, while building and industrial supply sales increased by 31.7 percent in Howard County. The revenue from sales of furniture and appliances fell 24.7 percent the revenue from sales of hardware, machinery and equipment fell 11 percent in Baltimore City.