Federal Economist and Economic Development Officials Predict Optimistic Fiscal Forecast

A federal economist and local economic development officials predict an optimistic fiscal forecast for Maryland in 2015. Their comments were made during the Greater Baltimore Committee (GBC) Economic Outlook Conference before area business leaders and managers.

As reported by MarylandReporter.com,

“Maryland is lagging behind in the nation… but I am optimistic about 2015,” said R. Andrew Bauer, regional economist for the Federal Reserve Bank of Richmond, Baltimore Office and keynote speaker for the GBC conference.

“Next year is not going to be an exciting time, but a steady time… For Maryland this will be a year of growth,” said Bauer.

Economic development officials supported this outlook.

I agree with the speaker when he said Maryland is lagging behind,” said James Richardson, director of the Harford County Office of Economic Development. But he noted that the apartment market is doing well, and they have seen growth in the technology sector.

This area is the epicenter for growth,” said Edward Rothstein, president and CEO, Anne Arundel Economic Development Corporation.

“Baltimore is a top 10 city for millennial growth,” said William H. Cole IV, president and CEO of the Baltimore Development Corporation, “ We’re seeing more buildings than ever before, that’s a good indication things are looking up in Baltimore.”