Maryland’s Ever-Growing Presence in the Tech Scene
Maryland is home to several leading institutions in the tech space. Developments in 2023 promise further growth in the region through 2024 and beyond, including thousands of new jobs and millions in federal funding.
University of Maryland BioPark
Left: 4MLK, a new 250K SF building set to be delivered this year (Wexford Learning Communities)
Right: The Sail Cloth Factory Apartments*, less than one-half mile from the BioPark, is the closest residential apartment building to the development.
Situated on the west side of the University of Maryland, Baltimore Campus is UM BioPark, the largest biotechnology cluster in Baltimore City, which hosts over 30 tenants and 1,000 employees. The 14-acre site comprises 2 million square feet of lab and office space, hosting industry-leading bioscience companies such as the Maryland Proton Research Center and Catalent Cell and Gene Therapy.
The BioPark will unveil its latest project in late 2024, 4MLK. The new, state-of-the-art 250,000 SF building is poised to host 50-100 new biotechnology companies and additional lab and collaborative space.
Baltimore Designated a “Tech Hub”
The U.S. Economic Development Administration designated Baltimore City a “Tech Hub” in October 2023, an award allowing the city to compete for nearly $10 billion in federal grants for AI and biotechnology research over the next five years. The predictive healthcare industry is poised to create 52,000 jobs in Maryland by 2030, according to the Greater Baltimore Comittee.
FBI Headquarters Coming to Maryland
Left: Prince George’s County
Right: Less than 15 miles away from the future site of the bureau is Colebrook Manor Townhomes*, which is easily accessible via the DC Metro or I-495
The General Services Administration announced in November the new state-of-the-art FBI headquarters would be relocated to Greenbelt, MD in Prince George’s County. The decision came after over a decade of deliberation. Although some controversy regarding the decision remains, Maryland lawmakers assert the project will move forward. The facility is estimated to house 11,000 employees.
Johns Hopkins University Bets on AI
Over the summer, leaders at Johns Hopkins University announced their plans to build a Data Science and AI Institute on its main campus with hopes of positioning the school and Baltimore as leaders in artificial intelligence research and development. The project is poised to require over 100 new faculty members and educate thousands.
*Denotes HSA Listing