Interrogating Harbor Point: Examining the Effects of Baltimore's Economic Development Policies
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2014
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Bryn Mawr College. Department of Growth and Structure of Cities
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Thesis
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Award
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eng
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Open Access
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Abstract
Harbor Point is a soon to be developed 27 acre mixed-use waterfront development, which will include office buildings, retail, apartment towers, parks, and the regional headquarters of Exelon Corporation. This $1B project will put the City of Baltimore into a debt totaling around $400M, due to the use of Brownfield Tax Credits, Enterprise Zones, and TIF. City Council and Mayor Stephanie Rawlings Blake have justified this public expenditure as a means of economic development. This thesis analyzes the benefit of these programs as tools for job creation and unemployment amelioration. This is not the first time Baltimore and the State of Maryland have heavily contributed to the financing of a private project, yet the city still struggles with deteriorating neighborhoods and high unemployment. If the current models of economic development do not yield results then Baltimore must try a new strategy. This thesis recommends Baltimore think more creatively regarding economic development policy and suggests the theory and policies of other scholars as a way to invoke change.