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Annual Report 2010 3 BDC Projects

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Annual Report 2010 3 BDC Projects City of BAltimoRe Development CoRpoRAtion Annu Al RepoRt 2010 As we look back a decade, we see a City full of hope, future potential and justifiable pride in many accomplishments. Among those accomplishments is the City’s investment in the renovation and expansion of Mondawmin Mall, ensuring that this Northwest Baltimore icon continues to create jobs and taxes. VAlues We hold the highest standards of honesty, integrity, respect, and professionalism. We understand that responsiveness is the key to meeting our customers’ needs. We believe that success depends on exchanging ideas, sharing responsibilities, and making decisions at all levels. We respect tradition and value change. We believe BDC’s strength lies in the creativity and diversity of its staff. We share a vision for an ever-stronger Baltimore. We will accomplish this by providing outstanding customer service. Offering innovative ideas and solutions. Engaging others in a collaborative effort. Utilizing all possible resources. Capitalizing on our City and regional strengths. VISION To lead Baltimore to the forefront of cities in which to live and do business by becoming the preeminent economic development entity in the United States. mISSION To act as a catalyst in the creation of a robust, sustainable economy for Baltimore. Image CaptIon 04 BDC ProjeCtS MISSION Create New Real Estate 06 letteR fRom the mayoR 05 Development Opportunities 08 letteR fRom the Chairman & President 60 25th Street Station 61 Brownfields Initiative 62 Charles north 64 energy answers International MISSION Retention and Expansion 68 fairfield 01 of Existing Businesses 70 former highlandtown library 12 Business Retention and outreach 72 the admirals Cup 14 morgan Stanley 73 Kona grill 18 NAACp 74 hollander 95 Business park 20 transamerica / AEGON 76 howard park grocery Store 22 Volunteers of america Chesapeake 78 mchenry Row 24 enterprise Zone 80 university of maryland Biopark 26 foreign trade Zone (FTZ) 82 the fitzgerald at uB (university of Baltimore) 86 united States Social Security administration 90 Westside Initiative MISSION Attract New 02 Businesses MISSION Support the City’s Cultural 32 Bambeco 34 Crossroads and Carroll Camden Industrial parks 06 Resources / Institutions 36 emerging technology Centers (ETC) 98 everyman theatre, Inc. 101 Inner harbor Coordination 101 pierce’s park MISSION Promote and Improve Retail 102 Seadog Cruises 03 Districts Beyond Downtown 104 pennsylvania avenue (former Sphinx Club) 106 Senator theatre 42 Commercial Revitalization 108 Seton Business park (new psalmist Baptist Church expansion) 50 hilltop Shopping Center MISSION Increase Employment 110 2010 Business RetentIon, expansion & attRaCtIon ReSultS 04 Opportunities 116 StatementS of Financial positIon 52 hilton Baltimore 117 Statement of ActIVItIeS & Change In net AssetS 54 minority Business Inclusion 118 Board memBeR DireCtoRy 56 Small Business Resource Center (SBRC) 119 STAFF DireCtoRy Table of Contents 2-3 22 Baltimore Development Corporation annual Report 2010 3 BDC ProjeCtS 1 180’s 35 lucky’s Deli & market B ETC (emerging technology Center) at johns hopkins eastern 2 admirals Cup, LLC 36 maisy’s acclaro Research Solutions, Inc. 3 AEGON 37 mchenry Row holding Company, LLC CervoCheck, LLC 4 allstate floors & Construction 38 m&CC / Clear Channel Grovehurst Construction 5 american Radiology management group 39 miss Belle’s Restaurant 6 Baltimore Clayworks Inc Khepra energy group, LLC 40 moodlerooms 7 Bambeco mDR group 41 mother’s federal hill grille 8 Barton Cotton RC matrice, LLC 42 NAACp 9 Barton malow Superior technology 43 oaktree management Solutions Corp. 10 BmW façade project 11 Bond Distributing 44 ope’s laundromat C ETC (emerging technology Center) 12 Casa Di pasta 45 paradiso at Canton 13 Chezzie Realty 46 performance Workshop, Inc. 6th Street Inc. 14 Community Store 47 Senator theatre, LLC, the applied plasma Science LLC 15 Canton port Services 48 S.h. Bell Co Baltimore media group LLC 16 Connections academy 49 Soft and Cozy Baby Blue globe Solutions 17 Corner Carry out 50 South Broadway Brijen Biotech LLC properties, LLC 18 Crown Security Cognapse LLC 51 Southwest Charter School 19 Day Spring, Inc. Curiosityville LLC 52 Steady Baltmore Inc 20 eastern Retail edcosystem, Inc. Shipping & Delivery 53 Volunteers of america ellickson uSa LLC 21 family tree, the 54 Wexford Science and funding universe 22 fells point meats technology, LLC groove Commerce 23 fraley Corporation 55 WWl Kitchen table financial 24 geo g Ruppersberger & Sons Inc a 3000 block of greenmount avenue nV3 technologies LLC 25 greektown grille ann’s Clothing oomph marketing 26 hamilton physical therapy Darker than Blue pieran LLC 27 hamilton Vacuum goldstone jewelry Ridgewood healthcare It 28 hopkins Discount & Dollar Store green’s Carryout SAJE pharma LLC 29 jen liquors, Inc joyce’s place Soleil Solar LLC 30 jiffy lube main Street hats travelClick 31 King architectural metals next level urban Design group LLC 32 Kodi’s People’s Community Voiceplex LLC health Center 33 Kona grill / one east pratt Street, LLC penn optical 34 light St nail Salon x-top BDC Projects 4-5 4 Baltimore Development Corporation annual Report 2010 5 letteR fRom the mayoR As shown in BDC’s 2010 annual report, we have the basis to be optimistic about the future. BDC understands that in order to have a strong, vibrant and diverse City we must work hard to We are growing businesses in Baltimore! At the Emerging Technology Centers (ETC), Baltimore promote economic development in our neighborhoods. BDC has been hard at work for many years City’s incubator, 31 companies located their operations at the ETC in Canton or Johns Hopkins in the Northwest community of Howard Park and progress is being made on bringing a supermarket Eastern in 2010; a continuation of the excellent results over the last five years – an average of 23 to that community. Since the grocery store closed more than a decade ago, and since my days as a new technology companies per year. In 2010, the ETC had 18 technology companies graduate member of the Baltimore City Council representing the 5th Council District, I have worked tirelessly from our incubation program with 65% of these graduates staying in Baltimore City. with community leaders and BDC to bring a full-service grocery store to the site on Liberty Heights and Gwynn Oak Avenues. Additionally, BDC has worked on other important projects, such as the In 2010, the Baltimore Main Streets program was responsible for the opening of 43 net new Senator Theater, McHenry Row, Hollander Ridge, Hilltop Shopping Center, and the Seton Business businesses, resulting in 60 full-time and 59 part-time jobs; 39 new façade renovations were Park to name a few. completed, helping to stimulate more than $680,000 in private investment. BDC also performed business outreach in efforts to retain and attract business. BDC staff visited over 200 companies Thank you for your commitment and confidence in our City. We have made great progress and in 2010. I am proud of Baltimore’s successes. I know that by working together, Baltimore’s future is better, safer, stronger! And the Small Business Resource Center (SBRC), a division of BDC responsible for providing services to support the growth of existing and prospective businesses through individual assessment, Sincerely, consulting, seminars, technical assistance and referrals within a cooperative network of public and private sector partners, conducted more than 70 counseling sessions and seminars in 2010. In addition, over 3,700 people visited the SBRC and the center fielded more than 6,700 telephone calls for assistance. Stephanie Rawlings-Blake Developments such as Mondawmin Mall, Clipper Mill, Belvedere Square, and Frankford Estates – Mayor, Baltimore City aided by TIFs (Tax Increment Financing) – are thriving and creating jobs for residents and generating tax revenue that the City would not otherwise collect. Through the carefully considered use of financial incentives such as TIFs and PILOTs (Payment in Lieu of Taxes), the City has seen $1.162 billion in new projects, with $275 million of certified MBE/WBE participation, resulting in 5,620 jobs and $25.9 million in annual taxes. The City also uses federal and state tax programs to spur development, such as Brownfield Incentives, Enterprise Zone and Foreign Trade Zone Credits. STEPHANIe RaWlINGS-BLAKe, MAYOR, BALTIMORe CITY Letter from the Mayor 6-7 6 Baltimore Development Corporation annual Report 2010 7 letteR fRom the Chairman & President At BDC, we take our core mission of the retention and expansion of businesses – creating jobs 2003 was a year of construction cranes and scaffolds – evident in many areas of the City – and increasing Baltimore City’s tax base – Very Seriously! BDC activities in calendar 2010, retained demonstrating increased investor confidence. The value of projects completed or under 2,074 jobs, while creating an estimated 1,873 new jobs (totaling 3,947 jobs) leveraging an estimated construction at the time exceeded $1.6 billion. $214,399,904 in capital investment. Our outreach efforts last year – key to successful business retention and expansion – involved more than 200 City businesses. In 2004, BDC refined its organizational structure to more efficiently and effectively address the needs of Baltimore’s business community, and at the same time, further the strategic initiatives set This is also a fitting moment to look back over the last decade. We see a City full of hope, out in the City’s Economic Development Growth Strategy. future potential and justifiable pride in many accomplishments. BDC’s work in 2005 contributed significantly to Baltimore being seen as a growth market by national In 2000, the technology revolution was reshaping the world’s business landscape, with the creation development investors. Duke Realty successfully acquired the former General Motors assembly plant of info and biotech jobs. Led by BDC, Baltimore City has been very successful in attracting tech site in East Baltimore, citing the 180-acre industrial property as “the best port-oriented development companies to Baltimore.
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