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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
Unemployment Rate 9.27% 3.67%
State of Maryland
Civilian Labor Force 3,147,505 3,217,093
Employed 2,850,434 3,095,356
Unemployed 297,071 121,737
Unemployment Rate 9.47% 3.80%
United States
Unemployment Rate 13.03% 3.63%
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)
4 ECONOMIC INDICATORS 2nd QUARTER 2020
ANNE ARUNDEL COUNTY, MD
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.
ECONOMIC INDICATORS 2nd QUARTER 2020 5
ANNE ARUNDEL COUNTY, MD
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
6 ECONOMIC INDICATORS 2nd QUARTER 2020
ANNE ARUNDEL COUNTY, MD
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.
ECONOMIC INDICATORS 2nd QUARTER 2020 7
ANNE ARUNDEL COUNTY, MD
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
8 ECONOMIC INDICATORS 2nd QUARTER 2020
ANNE ARUNDEL COUNTY, MD
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.”
ECONOMIC INDICATORS 2nd QUARTER 2020 9
ANNE ARUNDEL COUNTY, MD
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
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.