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Baltimore Development Corporation asks council to keep services steady while expanding commercial-district data work
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Summary
At a Budget and Appropriations Committee hearing, the Baltimore Development Corporation outlined its FY2026 service targets — emphasizing business retention, real-estate facilitation, and entrepreneurship programs — and launched a 10-district commercial district assessment to guide future investments.
The Baltimore Development Corporation requested that the Baltimore City Council maintain current funding levels for its three core services — business retention, real-estate development and entrepreneurial support — while launching a new Commercial District Assessment initiative aimed at targeting future public and private investment.
Colin Tarbert, president and CEO of the Baltimore Development Corporation, told the council’s Budget and Appropriations Committee that BDC’s FY2026 priorities include retaining existing companies, increasing the city tax base, and attracting investment in higher-growth entrepreneurial companies. "Our mission is to grow the city's economy in an inclusive manner by retaining, expanding, and attracting businesses and promoting investment, thereby increasing job opportunities for city residents," Tarbert said.
The request comes with a mix of performance targets and program developments. For business retention, BDC reported an FY2024 actual of 139 companies assisted — well above a previous target of 50 — and a FY2024 jobs figure of about 1,700 (the FY2024 target had been 2,000). For FY2026 the agency is targeting retention of roughly 40 businesses and 1,900 jobs. In real-estate development, BDC’s facade improvement program completed 29 facades in FY2024 (target 50) and plans a FY2026 target of 47. The agency also reported leveraging about $11 in private investment for every $1 of public investment in FY2024 and is targeting a roughly 10:1 leverage ratio in FY2026.
Tarbert described the agency’s entrepreneurship work under service 08/13, including the Made in Baltimore program and the Emerging Technology Centers. Made in Baltimore certified 46 businesses in FY2024 and had about 61 participants in its business education programs; the agency said FY2026 targets include about 40 certifications. Tarbert said the Emerging Technology Center has been retooled to focus on higher-growth companies, especially medtech firms led by women and BIPOC founders, and noted a new ETC hub at 4 MLK opened in partnership with the University of Maryland Biopark in Wexford.
The committee pressed BDC on infrastructure and neighborhood needs. Tarbert said BDC does not typically hold a separate infrastructure allocation and that major projects usually proceed through the capital improvement plan or tools such as tax increment financing. He cited Harbor Point infrastructure costs of about $100 million as an example of scale that can consume multiple years of city CIP funding. Tarbert also described smaller, neighborhood-level interventions: after multiple small businesses in the Holland’s Market area reported water-pressure issues, BDC helped map the main water line and engaged the Department of Public Works, which initiated upgrades so individual businesses would not need to buy costly pumps.
Ira Cowler, managing director of the Baltimore Development Corporation, provided detail on the Commercial District Assessment (CDA) initiative. Cowler said the first round will partner with 10 community organizations and combine third-party data with block-by-block windshield surveys and real-property condition surveys. The goal is to produce district profiles that partners can use to advocate for funding and to support citywide analysis of determinants of commercial-district health; BDC expects to publish the first profiles by the end of the summer.
Council members asked about program administration and impacts. Council President Z Cohen thanked Tarbert for his service and cited BDC contributions such as CFG Bank Arena and the BOOST program’s support for entrepreneurs. Several council members raised neighborhood concerns: questions included whether the Made in Baltimore retail presence at Harborplace will be retained during Harborplace redevelopment (Tarbert said the program expects to remain in place in the near term but has not yet decided on relocation plans), whether ARPA-driven paperwork delayed some BOOST participants (Tarbert said ARPA compliance created additional federal-level requirements that complicated rapid disbursement), and what is needed to catalyze larger-scale West Side revitalization (Tarbert pointed to three needs: upgraded infrastructure, actions to address social issues such as homelessness and crime, and more catalytic public investment tools).
Tarbert declined to speak to personnel transitions but said the mayor’s office and BDC board chair have completed a CEO selection process and that an announcement of a new CEO was imminent. The council concluded its questioning after the agency presentation and dismissed the BDC panel.
The hearing opened under City Council Bill 250060, the ordinance of estimates for the fiscal year ending June 30, 2026, which frames agency budget hearings and appropriation requests.
