SUB-STRATEGIES
Anchor the work of Baltimore Together
- Build an online platform for Baltimore Together to inform public, organize efforts, track action and communicate success.
- Post goal metrics on website/maintain dashboards on Baltimore Together website
- Post rolling updates, news, reports, social media feed on Baltimore Together website
Collaboration with various economic, workforce, and business development organizations
- Convene economic and workforce development organizations, partners, and stakeholders on a semi-annual basis to track accountability, measure progress and revisit the strategies of Baltimore Together.
- Secure commitments from economic development partners to incorporate Baltimore Together goals into their respective strategies and self-report- metrics annually to Baltimore Together. annual reports posted on Baltimore Together website.
- Explore and advance a regional economic development district in collaboration with metro Maryland jurisdictions and the US Economic Development Administration.
- Convene economic and workforce development leaders to assess major policy changes.
- Reframe and align the school system and the workforce system, building from initiatives such as YouthWorks and Grads2Careers
Track economic data more effectively
- Develop a regional economic indicators dashboard and post on Baltimore Together website
- Annually compare Baltimore Together goal metrics with regional indicators dashboard on Baltimore Together website.
- Explore environmental, social and governance (ESG) reporting
Reimagine and rebuild the local small business ecosystem
- TA (technical assistance) network: continue to convene network of small business support system to share information, coordinate and improve delivery of service by TA network members
- Build partnership between TA network and existing African-American-led financial institutions such as Harbor Bankshares Corporation, Brown Capital Management, MECU, and Meridian Management Group
Align, coordinate, and bring more financial capital into small business ecosystem
- Identify sources of funds to support TA network of small business support system
- Build partnership between TA network and existing African-American led financial institutions such as Harbor Bankshares Corporation, Brown Capital Management, MECU, and Meridian Management Group
- Increase investment in BIPOC entrepreneurial opportunities/ incubator programs let by people of color
- Examine novel and emerging approaches to capital access for small businesses with Blueprint Local Investments and Nowak Metro Finance Lab at Drexel University
- Develop loan loss reserve capitalized by local banks and foundations, and managed by local CDFIs and other nonprofits
- Pilot alternative underwriting processes that do not solely rely on the use of a credit score to determine creditworthiness
- Explore other non-debt forms of capital for early-stage businesses and others adverse to taking on debt burdens.
Build a networked workforce delivery system serving Baltimore City residents and employers
- Develop a regional economic indicators dashboard and post on Baltimore Together website
- Annually compare Baltimore Together goal metrics with regional indicators dashboard on Baltimore Together website.
- Explore environmental, social and governance (ESG) reporting
