F O R I M M E D I A T E R E L E A S E
October 20, 2008
BALTIMORE OFFERS INVESTORS UNTAPPED ECONOMIC POTENTIAL
SOCIAL COMPACT DRILLDOWN FINDS
Market Analysis Reveals $13.8 B Aggregate Neighborhood Income Higher by 10%
BALTIMORE – Social Compact, one of the country’s foremost urban economic development nonprofit
organizations, released startling new findings today about the Baltimore economy in its Baltimore
DrillDown report at a joint press conference with Baltimore City Mayor Sheila Dixon, First Deputy
Mayor for Neighborhood and Economic Development Andy Frank, and representatives from the
Baltimore Development Corporation. The study reveals that past analyses and census reports have
underestimated the economic potential of Baltimore’s neighborhoods.
The entire Baltimore DrillDown report can be viewed at www.Baltimore-DrillDown.org or at
“Social Compact’s DrillDown report contains the kind of neighborhood-specific data that will help us
attract investment in communities that businesses might not know about,” said Mayor Dixon. “Our
partnership with Social Compact, BDC and others will give us the most reliable information available,
and we will use it to continue transforming our City.”
Through the use of innovative methodologies and various public and private information sources that
reflect an estimate of the cash-in-hand economy, Social Compact and its DrillDown analyses deliver
more reliable, representative, and current information about a community’s economic health and buying
power. The DrillDown report is designed to give retailers and investors the critical baseline economic
information needed to make major investment decisions.
"Social Compact's DrillDown represents an innovative approach to looking at emerging markets,” said
Lyneir Richardson, Vice President-Urban Retail Development for General Growth Properties, Inc.
“Those of us in commercial development a