economic indicators 2nd quarter - aaedc.org

ECONOMIC INDICATORS 2ND QUARTER ANNE ARUNDEL COUNTY, MD

2020

2 ECONOMIC INDICATORS 2nd QUARTER 2020

ANNE ARUNDEL COUNTY, MD ANNE ARUNDEL COUNTY, MD

Welcome to the Anne Arundel Economic Development Corporation’s Economic Indicators 2nd

Quarter Report. This report covers various economic indicators such as employment, resident

labor force, commercial real estate information, building permit activity, housing sales, tour-

ism, cost of living, real property tax base, and BWI Thurgood Marshall airport statistics.

Commercial Permit Activity 2nd Quarter

2020

2nd Quarter

2019

Percent (%)

Change Year to Date

Last Year to

Date

Percent (%)

Change

New Commercial Permits 12 11 9.1% 15 21 - 28.6%

*AAR/Misc. Commercial Permits 268 381 -29.7% 561 693 -19.0%

Value of All Commercial Permits $70,528,085 $81,224,547 -13.2% $121,151,682 $126,355,228 -4.1%

Housing 2nd Quarter

2020

2nd Quarter

2019

Percent (%)

Change Year to Date

Last Year to

Date

Percent (%)

Change

Existing Home Sales 2,373 2,889 - 17.86% 4,346 4,703 - 7.59%

Median Home Price—Existing Home Sales $371,833 $364,812 1.92% $365,067 $351,556 3.84%

New Residential Building Permits Issued 431 736 - 41.4% 940 1460 - 35.6%

New Residential Building Permits Value $73,951,252 $144,782,229 - 48.9% $162,274,018 $241,114,987 - 32.7%

*AAR = Addition, Alteration, or Repair based on permits valued over $10,000; Source: Baltimore Metropolitan Council Permit Data System/not comparable to permitting data prior

to 2006; Year-end totals reflect revisions made to monthly numbers

Source: MD Realtors Association; Baltimore Metropolitan Council Permit Data System/not comparable to permitting data prior to 2006; Year-end totals reflect revisions made to

monthly numbers

Commercial Vacancy Rates Average 2nd Quarter 2020 Average 2nd Quarter 2019

Office 8.2% 9.3%

Flex 9.1% 8.6%

Industrial 10.0% 8.9%

Source: CoStar

ECONOMIC INDICATORS 2nd QUARTER 2020 3

ANNE ARUNDEL COUNTY, MD

Employment (by residence) Average 2nd Quarter 2020 Average 2nd Quarter 2019

Anne Arundel County

Civilian Labor Force 304,075 314,438

Employed 277,430 304,710

Unemployed 26,645 9,728

Unemployment Rate 8.77% 3.10%

Baltimore Metro Area

Civilian Labor Force 1,455,538 1,515,951

Employed 1,321,143 1,460,360

Unemployed 134,395 55,590


State of Maryland

Civilian Labor Force 3,147,505 3,217,093

Employed 2,850,434 3,095,356

Unemployed 297,071 121,737


United States


The employment indicators in our county reflect the profound impact the COVID-19 pandemic

has had on our labor market. Employment by residence refers to the number of employed res-

idents that live in Anne Arundel County, but don’t necessarily work in the county. Employment

in place refers to the number of employees that work in Anne Arundel County, but don’t nec-

essarily live in the county.

Employment in Place 4th Quarter 2019 Percent (%) Change 4th Quarter 2018

Quarterly Average Employment 277,372 5.8% 275,755

Number of Establishments 15,569 0.59% 15,477

Source: Bureau of Labor Statistics; MD & US data seasonally adjusted; seasonally adjusted data is only available at the national and state level

Source: MD Department of Labor

Unemployment Rate (Annual Average 2010 - Q2 2020) AA County Employment (Resident & In Place)



Real Property

Tax Base

Number of Properties

(incl. agriculture)

Assessed Value

Residential

Assessed Value

Commercial

Assessed Value Total

(R+C)

Commercial as % of

Total

FY 2019

Anne Arundel Co. 214,370 69,216,545,173 21,336,377,969 90,552,923,142 23.56%

Baltimore Co. 284,388 61,805,993,280 24,978,591,308 86,784,584,588 28.78%

Baltimore City 221,000 25,646,167,315 19,910,869,418 45,557,036,733 43.71%

Harford Co. 97,880 21,939,259,507 5,855,085,796 27,794,345,303 21.07%

Howard Co. 105,483 40,453,733,507 12,397,250,972 52,850,984,479 23.46%

Montgomery Co. 332,896 148,400,697,835 46,217,229,938 194,617,927,773 23.75%

Prince George’s Co. 285,026 68,591,389,490 27,728,368,112 96,319,757,602 28.79%

Queen Anne’s Co. 25,419 6,537,524,004 1,055,072,365 7,592,596,369 13.90%

Note: Property is assessed at 100% valuation; Source: MD Department of Assessments and Taxation, FY 2019, Group 1 (1/3 of properties reassessed each fiscal year)

The real property tax base breakdown provides insight as to what percentage of total assessed

real property tax revenue is attributed to commercial properties. The remainder is attributed

to either residential or agricultural properties. This is useful in determining where the burden

of property taxes exist in a geographic area. In Anne Arundel County, 23.56% of the total as-

sessed value of residential and commercial properties comes from businesses, while 76.44% of

that total is collected from homeowners.

C2ER Cost of Living Index 1st Quarter 2020 (2nd Quarter not available due to Covid-19)*

Baltimore-Columbia-Towson MD Metro 110.5

Wash-Arlington-Alexandria DC-VA-MD-WV Metro Div. 160.7

National City Average 100.0

Source: Council for Community & Economic Research (C2ER);

*C2ER did not collect 2nd Quarter 2020 data due to the risk of COVID-19 exposure to data collectors during the early months of the COVID-19 pandemic.



BWI Thurgood Marshall Airport 2nd Quarter

2020

2nd Quarter

2019

Percent (%)

Change Year to Date

Last Year to

Date

Percent (%)

Change

Total Passengers 1,093,645 7,115,061 - 84.6% 5,840,682 12,790,051 - 54.3%

Total Freight (in pounds) 144,760,568 117,052,121 23.7% 276,713,614 228,371,487 21.2%

Tourism 2nd Quarter

2020

2nd Quarter

2019

Percent (%)

Change Year to Date

Last Year to

Date

Percent (%)

Change

Hotel Tax (gross receipts for AA Co.) $1,392,022 $5,439,033 - 74.4% $3,736,857 $8,877,252 - 57.9%

Source: MD Aviation Administration

Source: AA County Finance Office

Consumer Price Index for all Urban Consumers (CPI-U) April 2020 June 2020 % Change

Baltimore-Columbia-Towson 258.978 257.942 - 0.40%

Source: Council for Community & Economic Research (C2ER); Bureau of Labor Statistics; Base Period: 1982-1984=100



AAEDC Customer & Employee Protection Grant Program

As the COVID-19 pandemic necessitated all businesses to pivot their normal operations to pro-

tect customers and employees, Anne Arundel County Executive Steuart Pittman and his staff

responded by working with Anne Arundel Economic Development Corporation (AAEDC) to cre-

ate a Customer and Employee Protection (CEP) Grant Program.

Funded by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and subse-

quent funding allocated to Anne Arundel County, a little over five million dollars was allocated

to the program to help county businesses purchase and/or be reimbursed for personal protec-

tion equipment (PPE), protective shields, dividers, digital signage, graphics, technology up-

grades, consultation services, delivery vehicles, and workforce training. Grantees were award-

ed up to $10,000 based on actual budgeted items and/or receipts for eligible purchases. Com-

panies located in Anne Arundel County with fifty or less employees and that are in good stand-

ing with the State of Maryland were eligible for the grants.

The AAEDC CEP Grant Program accepted applications from June 3rd through July 24th, 2020.

During that period, AAEDC processed 961 applications and awarded 788 grants totaling a little

over five million dollars. The average grant amount was $6,370.83. Of the 788 grants awarded,

171 were to companies in the City of Annapolis and totaled approximately $1.12 million.

The AAEDC CEP Grant Program was highly successful in helping these Anne Arundel County

businesses pivot to protect both customers and employees from COVID-19.



Customer & Employee Protection Grant Program Statistics

Number of Employees Number of Grants Total Amount Percentage

Sole Proprietor 122 $548,792.08 15%

2 - 4 Employees 156 $901,372.79 20%

5 - 9 Employees 204 $1,331,741.87 26%

10 - 19 Employees 163 $1,133,319.92 21%

20 - 50 Employees 141 $1,093,482.47 18%

Ownership Type* Number of Grants Total Amount Percentage

Minority 202 $1,301,000.04 26%

Woman 350 $2,094,257.70 44%

Veteran 36 $198,864.31 5%

*Note: total number may exceed grant total due to multiple categories (example: Minority & Woman, Woman & Veteran); ownership type was provided by the applicant



Testimonials from Grant Recipients

Marie Bittinger, Red Lotus Float Spa

“This experience is by far the most efficient and streamlined I have experienced through this

entire COVID19 debacle. I appreciate this more than can be expressed in words.”

Saeed Ashrafzadeh, Ashling Market & Catering

“Working thru the various loans that were available during this pandemic have not been the

easiest to navigate. Most programs required extensive amounts of information requiring the

involvement of CPA’s. When Anne Arundel Economic Development Team rolled out the Eco-

nomic Development Grant, they really simplified the process. From the time you accessed the

website, I experienced no delay or kickback when entering the information. Furthermore, the

way the team formatted the questions and the information they asked us to provide was very

straightforward. All in all, what an amazing grant that came at just the right time to help the

true small mom and pop business. It was exactly what we needed to help relieve pressure off

affording PPE materials and allowed us to make investments in area’s we were unable to make

due to the pandemic. Thank you for the continued leadership.”

Bruce Spencer, Walt Eger’s Service Center

“WOW. You all are outstanding. The turnaround on this was world class. Thank you so much.”

Chuck Davis, KISS MY GLASS Window Cleaners

“Since this whole crazy thing has started and as I have had to deal with several State and Fed-

eral agencies for a variety of reasons. AAEDC has by far been the most responsive group that I

have had the pleasure to interact with. Your guidelines were clear and your response to ques-

tions were extremely prompt. Thank you for all of your help.”

Colin Reinhard, Paradise Donuts

“Thank you for keeping us updated on the variety of funding streams available to support small

businesses. As a result, I was able to procure a grant from AAEDC to cover the purchase of our

new ecommerce workstation and employee/customer safety glass. My employees and I thank

you and AAEDC for your proactive approach in responding to this crisis.”



Carol Bonney, The Inn at Horn Point

“This grant has single handedly been the BEST HELP we received from any agency - State or

Federal. Thank you!!!”

Doris Graham, Maryland Clock Company

“Maryland Clock Company is so grateful for the grant from Anne Arundel Economic Develop-

ment. When we get it, we will be able to replace equipment keeping our workers safe and

change the way we conduct our business going forward. Without receiving the grant it would

have been impossible to do this, in these uncertain times. Thank you very much.”

Sarah McCready, The Grill at Quarterfield Station

“The application process was a breeze. We were advised ahead of time on all documentation

and information we would need to complete the application. That was great so I could have

everything needed in one place when the application became available.

We were approved rapidly and I cannot tell you what a relief this has been. $10,000 may not

seem like a lot of money, but to businesses like ours who were shut down to about 30% or less

of their sales, this seems like a million dollars!

This grant will allow us to plan ahead and make the necessary changes and updates without

having to wait for the income of reopening. It can be quite a backwards reality right now. Most

businesses need income to make these changes, but cannot open to make the income without

doing so. So this grant will allow many businesses, including ours, to take the next step and re-

main a large part of the community we are all so proud of.”

Johnetta Thurston, JDA Management and Consulting Group

“I want to say thanks to you and the team at the Anne Arundel Economic Development Corpo-

ration. I am so pleased that I was approved for the recent grant administered by your organiza-

tion. Securing capital during good economic times is challenging and trying to stay afloat and

provide continued excellent services to clients is nearly impossible when an occurrence such as

the COVID-19 pandemic happens. The grant allowed me and the team at JDA Management

and Consulting Group to pivot and continue to seamlessly meet the needs of our clients.

Thank you for making it possible for a small, minority and woman-owned business to compete

and succeed. This "hand-up" in the form of a grant was welcomed and had a major impact on

my business. I appreciate all that you do for the county and for small businesses.”

aaedc.org

Questions? Contact AAEDC Research Manager Jonathan Boniface

at [email protected]

The Anne Arundel Economic Development Corporation serves as a resource for data about the county, its

companies, and its business environment.

For more information, please contact:

Anne Arundel Economic Development Corporation

2660 Riva Road, Suite 200, Annapolis, MD 21401

Phone: (410) 222-7410 | Fax: (410) 222-7415

Email: [email protected] | Website: www.aaedc.org

Sincere efforts have been made to ensure the accuracy of the information contained in this report, but

accuracy cannot be guaranteed.

economic indicators 2nd quarter - aaedc.org

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