Baltimore County, MD Webinar Series: Baltimore County Business Forum—COVID-19 and Beyond, 1 Jul 2020

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From YouTube: Baltimore County Business Forum — COVID 19 and Beyond: Exploring Economic Impacts and Opportunities

Description

Even as we are still experiencing the unprecedented economic toll of the global pandemic, it is increasingly evident that the public health crisis has ushered in far-reaching paradigm shifts that will affect the foundations of our local, national and global economies for years and decades to come. Baltimore County Executive Johnny Olszewski has assembled a distinguished panel of regional thought leaders who will discuss the pandemic’s impact and recovery forecast trends, as well as explore the unique opportunities emerging in business sectors like technology, logistics, domestic manufacturing, retail distribution and others.

A

Terrific, well, good afternoon, everyone., I'm will anderson, baltimore county's director of economic and workforce. Development.- we're glad you joined us today.. This is part of our series where our county executive, johnny olszewski webinars, on covid and beyond.

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About our local economy., the county executive has convened quite a panel today to talk about our region and share some insights.

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About where we're at with covid-19 in the business landscape now, but importantly,, where we're headed., because we know we need to be exploring these impacts,, but really look to the opportunities that we have in the region. and it's kind of staggering to say.

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We've got 40 million people unemployed in our country. Right now, and the economists are telling us we're. Gonna have six.

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Or 10% economic loss and there's uncertainty,, but we've been through difficult times before and we're already seeing signs of emerging..

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The orioles are starting to put together some sort of season.

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And we will make it back.. So what I'd like to do, first is just say: a quick welcome,.

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Hello to our panelists,, hello to our county, executive, johnny olszewski. mr. county executive,. How are you?.

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I'm good, will, thank you.. How are you?.

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Very good and dr. daraius irani from towson university.

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C

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Thank you. scott phillips,, managing director of legal and business, consulting services.

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scott,. How are you?, I'm doing great, will..

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Thank you for having me here. thank you. tom sadowski,, vice chancellor for economic development at university, systems. tom,. How are you?.

D

Excellent, good afternoon., thanks for the opportunity to join you today.

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Thanks, and michelle whelley,, ceo of the economic alliance of greater baltimore.

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michelle,, thanks for joining us.

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I'm so pleased to be part of this panel, will.

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Thanks so much for including me. well,, we're really excited to have you. it's kind of a loaded panel., it's a big topic..

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I think many of us have been in some different discussions with each other. Just over the past week on some big issues.

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So what we'd like to do today is we've got some questions coming in from our audience.

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I'll invite our audience to either send questions in.

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Through our chat,, the little cartoon dialogue bubble.

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On the screen,, but you can also be emailing them.

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To todd dolbin on our business development, team.

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he's receiving all of that intake and feeding them into us.

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That email address is businesshelp@baltimorecountymd.gov.

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But what I'd like to do first is ask our county executive to really set the stage for where we are.

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County executive olszewski's been fully engaged in every aspect of steering the county's covid response.

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And business and jobs has been a big part of it.

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So we really appreciate weaving into your schedule. Today,.

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Mr. county executive., if you could kick us off and then we'll jump into questions for our panelists.

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Yeah, thanks, will, and thank you for all you're doing to help lead our county.

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In these very uncertain, times.

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I wanna also thank all of the panelists who are joined today, for what I know will be a very, discussion.

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Dr. irani,, you no doubt, will have some staggering statistics on covid's impact,.

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As well as, thought-provoking trend data.

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And, hopefully, some optimism., but we always appreciate your insights that you want to share today..

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Mr. phillips, you are a man of many hats..

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We know that you have more perspectives that you're bringing to the table today., whether it's chairing our county's planning board,, serving on the economic development advisory board.

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Or serving as the director of the mid-atlantic region.

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Minority. Business. Development. Group.- so in your spare time, managing your own business and legal, consulting firm., so many hats being brought today.

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tom sadowski,. Thank you for bringing an opportunity.

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To elaborate on the interplay between academic research.

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And business innovation and for giving us a heads up.

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From where we should be focusing in these unprecedented times. and,, of course, last but not least,, michelle whelley, a ceo of the economic alliance.

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Of greater baltimore, clearly you complete the circle.

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And bring together the region's business, government.

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And education and nonprofit sectors., so especially, interested in your observations about new emerging growth industries.

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in terms of what we're doing locally here in baltimore, county and local priorities in the time of covid,.

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My administration remains fully engaged in doing everything we can to promote the dual priorities of both restoring the health and wellbeing and sustaining the health and wellbeing of our residents.

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Alongside as growing and sustaining our business community.

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When we first took office,, which now seems about 100 years ago in december of 2018,,.

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We issued a transition report that talked about a strategic plan focused on renewing our emphasis.

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On small business, main street and cultivating entrepreneurship.

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unfortunately,, these vital sector areas were among the first and hardest hit when the pandemic's economic shock waves came out.

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And so we know that we have to continue to focus on them.

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Perhaps more now than ever before.

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our experience in baltimore county has showed that both the initial programs at the state, federal and local levels were very quickly overwhelmed.

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And so we did, in fact, step forward to try to bridge that gap. Locally. we jumped in quickly with business and individual benefit navigation..

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We recognized that we had small businesses fall through the cracks that weren't eligible for things like ppp and eidl., and so we established using our cares. Funding,.

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Both a small business grant program in baltimore county.

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Where individual businesses were eligible to get $15,000 grants to help bridge their needs.

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We've also created an artist grant program.

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Collectively we set aside $10 million for this relief here in baltimore county..

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We also have additional business announcements, forthcoming.

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I don't wanna get ahead of the announcements today., but we have an additional round that will be coming forward.

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Based on what we've seen on the ground.

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leading that work is an internal business assistance and economic recovery committee..

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They are working with our chambers of commerces, our major sectors, to really understand. What's happening.

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They've helped us do things like in anticipation of the governor's reopening announcements,.

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We are doing things like allow for.

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Additional outdoor dining at our restaurants and bars.

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We've closed portions of streets to allow for additional space and we're tying to balance that health opportunity.

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Knowing that outdoor dining is even safer,, but also provide additional space for our restaurateurs.

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We remain in close contact with the business sectors, hospitality, manufacturing,, college, farmers,.

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Hospitals and beyond with regular calls.

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We meet with our economic development advisory board to really have a sense of what's happening and how we can continue to support..

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So I wanna thank our department of economic.

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And workforce development for pivoting to pretty much being all covid all the time and understanding that we have to be adapting as the circumstances around us are changing.

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Working with employers who are still hiring.

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helping people get retooled in trainings,, including things like setting up a contact tracing program.

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With our community college., so we know that there's a lot out there.

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We have taken a leadership role in earn maryland.

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And I think, you know what or I hope the panelists.

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Will agree to talk about today is baltimore county is taking a data driven approach to how we best position ourselves to recover and thrive.

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That we emerge from this crisis, stronger, nimbler and more resilient,, whether it's looking at a robust tourism industry for the region,, not just for baltimore county.. But there's a lot to build off of.

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And we have those building blocks.

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That we put in place at places like the guinness open gate brewery where we're tying in things like arts and entertainment, with catonsville being our first ever a and e designation. Just before the covid pandemic.

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So,, we also have great anchor institutions.

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We have tradepoint atlantic,, towson, university, umbc.

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And so there's so much out there that we're working to build off of, and I think that imperative to do so now is even more critical..

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So that's a covid and beyond perspective.

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From the local government side., but I hope that, again,, the panelists will say that we try to be engaged with them and partners like them throughout this time,.

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Because it's really imperative that we work with them and all of you to figure out what those needs are.

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And find ways to bridge those gaps., and sometimes it will be all government.. Sometimes it will be all business.. Sometimes it will be a partnership of government.

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And business, nonprofit.

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we're open to whatever it takes., but these are tough times,, but we're committed to,.

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Again, surviving the health impact and then driving forward to also come back more stronger,, more resilient,, more nimble from a business perspective.

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so, thanks for the opportunity, and thank you all for joining us. Today.

A

Thanks,, county executive, olszewski. there's clearly a ton of coordination, underway.

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And I'm thinking of some of the meetings that you've just pulled us in and out of to get our higher ed as they're reopening.

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That we're coordinated from supply chain to covid testing.

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It's an awful lot and just thinking about the industries., I see some questions. That, todd's, coming in with some questions, as you were talking about the types of regional collaborations.

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That are happening that businesses.

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Should be paying attention to., so it's gonna tee up or conversation really well about what kind of industries have actually been stable or growing.

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And I'm thinking about the discrete pieces we've had with health care, industry, logistics, construction.

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Just yesterday, manufacturing with,.

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Scott was on that meeting, as was michelle.

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About onshoring, the opportunity to onshore.

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And the fact that baltimore county is the largest.

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Manufacturing county in the state of maryland., what's happening with our retail malls., what's happening with our main streets and restaurants..

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Some of the programs that the county executive has rolled out is helping restaurants, who have been so devastated. and then hotels and tourism. We met with the hotel industry.

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Just this morning and heard about a 25% occupancy.

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Which is crushing for hotels.

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But it's really impactful for our local businesses.

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That are in that supply chain that are our neighbors, that work in those buildings..

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I know gbc and the county executive would bring this to my attention, gbc's hosting a newsmaker series on july 15th.

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About the hospitality and tourism industry,, because it is so regional.

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So I think we know there's a lot of problems,, but the idea now is to talk about where we go from the impacts. I'd like to start with dr. irani. If we could.

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If we could get a high-level,, highly respected, economist's.

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Point of view about to kind of lay it on us.

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About the numbers here., how bad is the impact from a business sector?.

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Where the hits have been taken., if you can kind of help frame it at that, perspective.

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We might have to, courtney might have to unmute you.

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Courtney,, can you get to daraius please?.

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C

Well,, thank you very much., so I am the economist, the dismal scientist as they say.

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So I will try and keep remarks as brief.

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And optimistic as possible.

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So we entered march with a economic induced coma.

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To sort of maintain physical distancing.

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And to flatten the curve. and so far, maryland has been very successful.

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one of the few states that actually has managed to really flatten the curve and keep our infection rate down.

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It's been real positive., you know we're one of the few states that have mandatory mask requirements.

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Or face coverings since mid-april.

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And so when we look around the nation, we see other states that opened early that didn't require masking,.

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We see that basically they're actually gonna, perhaps.

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Have a setback in their reopening., so when we look at maryland, we think of it as a model.

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We look at baltimore county,, we think of it as a model in terms of its impacts..

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So let me just give you kind of some big numbers and then talk a little bit about some of the underlying assumptions very briefly..

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So real gdp for the nation is probably gonna, be minus 4% for this year.

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In '21,, it'll probably be about 3.3%, '22 it'll be 2.1%.

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Unemployment will probably be double digits at the end of this year, about 17%.

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it'll fall to 8% in '21, and then '22 it'll be 7%.

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We don't expect the economy to recover to where it was until the mid-decade.

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That being said,, there are obviously,.

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We're in a sort of what they call a nike, swoosh recovery.

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Meaning, basically, we had a very steep decline because of the requirements to close and then we'll have a slow recovery,, because, basically, that opening is being dictated by policy.

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It's not being dictated by animal spirits,, it's being dictated by the fact that we're opening restaurants on a 50%,, 75%,, 100%, level.

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Slowly but surely, as long as certain gates are being met in terms of basically infection levels,.

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And those type of things.- this is really critical to understand- is that industries that have a highest perceived risk of infection.

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Won't rebound until consumers feel really safe.

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This is critical., so sit-in restaurants, air, travel,, especially, business, travel,, public transportation,.

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Concerts, sporting events,, those are gonna struggle.

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Until consumers feel safe to be in those spaces.

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Many economists predicting those types of businesses.

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Probably mid-2021 will see some return of business as usual.

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For those types of businesses. underlying these assumptions are, is that k-12 opens.

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And that we don't have a second wave.

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now, we're seeing it's rapidly changing.

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Data are rapidly coming in every single day, we're seeing new changes. so,. What I say today may be completely wrong tomorrow,.

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Or next week., even the fact that the k-12 reopening, maybe a bit optimistic.

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Given sort of some of the recent announcements yesterday by the maryland state superintendent of schools.

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No second wave. we're already seeing a second wave, perhaps in places like texas and south carolina and florida.

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So they're having to re-pull back.

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So and even how the data are collected., so unemployment, data, they're thinking is probably three to four percentage points higher than is actually reported because of the measurement errors..

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So I'm hoping that business can bear with us.

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Understand that basically, it is a very fluid situation.

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In terms of data, but understand that, compared to other states, other localities,, we in maryland,, we in baltimore county, are doing a fantastic job of listening to the experts.

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And letting experts and data decide how we reopen.

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And that's gonna be the best way to ensure that we have a long-term and sustainable recovery.

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Great,, so that was your happy talk, version.

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Yes, yes. well, thank you.. I did hear some good highlights in there., so when you think about like those trends about recovery,.

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And emerging business sectors.

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Where do you see the emergence,, whether it takes half a decade like you're talking about or it takes six months?? Where is that?.

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So in the emerging industries, it's gonna be tech.

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A lot of the solutions we're seeing are tech, driven.

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logistics is also a big factor..

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You know many people have gotten used to over the last four months. Now do their grocery shopping online and have it delivered.

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those types of jobs and logistic coordinators are gonna, be needed.

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opportunities to make those more efficient are gonna offer opportunities for individuals.

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And businesses to really leverage.

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businesses that can rapidly pivot to take advantage.

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Of rapidly changing market conditions are gonna, be.

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Able to survive and thrive in this new economy.

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There are gonna, be some challenges..

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What we took for granted in february and early march,.

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May not be the same place.. We do reopen here at towson university in august.

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Or september or october, things are gonna, be fluid.

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Even video chat platforms are probably gonna, be much more prevalent and there might be some new improvements come about., so those are opportunities that I see sort of going. Forward.

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Obviously, health care, even though it did take a hit,.

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People were being laid off in health care because elective surgeries were being canceled.

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Dentists and doctors offices were closed., but individuals involved in the covid recovery were there.

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We're seeing an increase there. health is big, so I say tech, logistics.

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And health care are sort of the key emerging industries.

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That are sort of growing.

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And you guys at towson university are leaders.

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In all those spaces which we really appreciate., you know to see, to the county executive's point about.

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He's got a strategy emphasis on anchor strategies for a reason.

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that an institution like tu is still making progressive investments in coming into the downtown core. For when we get through this to drive business in those areas.

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It says a lot about towson university.

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and when you mentioned pivoting and being resilient.

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That brings up,, I heard scott phillips.

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Talking about that just the other day in a meeting about focused on manufacturing., so maybe, scott,, if we could jump to you.

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you're dealing with a lot of those businesses on the frontline. you're, giving them advice and helping them navigate really on the razor's edge.

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With a lot of these small businesses., what are you seeing on the frontlines about covid.

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And beyond for your clients?.

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So let me give you some context..

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If you think about it, cash is king.

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And, unfortunately, for many of the businesses that I deal, with, particularly,, the minority-owned firms,.

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They've gotta deal with the national statistics and local statistics, right? so, income generally white income.

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Is twice that of black income.

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Net worth is a third to a fourth, generally.

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So the immediate thing that we saw was concerns.

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Around having enough cash to kind of get through the process., then we had the opportunity for ppp and eidl.

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And all those things and that first round did not go well.

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For the smaller businesses and the minority-owned businesses., I would say, policies, matter., and so the second round was better.

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There were allocations specifically to the community banks. allocations that went to some of our credit unions.

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And that made a difference, 'cause, those are closer to the individual firms.

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And two kind of scenarios that I saw,.

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We're talking about pivoting, though., a number of the folks that I have worked with.

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Where able to do some sort of pivoting, particularly, around ppe..

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They may have been food service providers who were in a distribution chain who had access to distribution who all of a sudden.

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Were looking at masks and gowns and gloves, right?.

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Because they had those established relationships.

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and then there were others who didn't have those relationships who were trying to figure out, well,. What do I do??

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You know? I've got 50 people and we're in a catering business.

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And I can't have an event over 10 people.

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So what do I do with that?, and so I've seen both sides.

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one great example of trying to figure this out is colin's,.

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Which is a restaurant in randallstown,, who went from probably a 90% come sit down.

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Have dinner to a 100% take out.

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And in the midst of all of this, they've now opened a second location., so there's some level of resiliency in the marketplace.

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For folks that have figured out how to pivot.

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But that's not everybody. and there's going to be a significant number of businesses. Lost, unfortunately,.

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Not everybody's gonna be able to weather the storm.

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But when I say, policies matter, what we've done in baltimore county to reach out to the smaller firms who couldn't get ppp,, who couldn't get some of the state funds to reach into that group, has been good.

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The question is: how long will it last?.

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How long will those resources last?.

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Is it just a matter of a bandaid for four to eight weeks.

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And then eight weeks from now we're still in the same position, and so how do they sustain themselves?.

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I will say that from a career perspective,.

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We've also got,, particularly in baltimore county,.

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You've got two sets of folks,.

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We've got a number of folks who are weathering the storm, 'cause they're working for governments.

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they're, working for the federal government. they're working for the state government and they're working for the local government., and so in the northwest corridor. You haven't seen,.

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I mean it's not dying, right. 'cause you've got a lot of folks with, really, jobs that they can continue to do. Remotely.

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At the same time,, we've got a lot of people involved in industries which require them to go out, which make them more susceptible to the health issues.

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That we're dealing with. we've got a lot of folks in transportation..

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We've got a lot of folks in food service.. We've got a lot of folks in logistics.

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all of which,, while they're still working, they're more greatly exposed.

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So how we handle the social distancing.

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And maintaining this level of safety,.

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The whole conversation with the governor's task force on reopening which I participated, in,.

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Many folks were focused on. We gotta get people back to work.

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and I will tell you my thing: is, yes,, we gotta get people back to work,, but we gotta get them back to work safely.

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so that we don't have this second wave.

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so that we set the new normal so that we can continue commerce,.

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While it may not be, as we know, it, but at some level of normalcy.

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And I think that's going to be our next big challenge.

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'cause, I see people out and they're getting very, very comfortable and that's not necessarily gonna be good for sustaining our economy.

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And avoiding the second wave.

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Well,, thank you for that.. I flipped around a little bit, will,.

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But hopefully that answered your question. no, it did,, because I wanted you to touch upon.

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Specifically, clients, women and minority-owned businesses what they were facing and that whole emphasis on cash is a key one.

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I'd like to kind of come back to that.

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mr. county executive., I was gonna say, will, and I think to scott's point.

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We are seeing that as we are reviewing and awarding our small business grant program, here.

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Over 50% of our recipients have been women.

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And minority-owned businesses., so we know- and what is scott is saying we are seeing on the ground. particularly, in terms of access to the other capital that those companies and firms might not otherwise have.

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And so I think, having a solution in place.

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Particularly for those businesses is gonna, be critical.

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We're doing what we can locally,, but I think, having those conversations at the state and at national level making sure that they're not left behind in what we're doing..

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So I mean,, on the one hand, we're thrilled that we're helping so many women and minority-owned business through this program,, but I think to scott's point,. Is it sustainable, long-term and then also,, while it's good to do that.

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To have that help there. It also speaks to the challenges that they're facing., so it's sort of like good news,, bad news in a way., but I just wanted to sort of emphasize some of the points scott made there.

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Yeah,, it is heartening to see that we're over 50%.

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With your program, mr. county exec.,.

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I think you gave us a target,, a pretty high target to make sure, because you had been hearing it just how many people have been left out of ppp round one.

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It was pretty staggering., so we're optimistic. we're still working through hundreds of applications. There.

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so that's been good.. I wonder if we can shift and come off of that conversation about scott you're talking.

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About we're not knowing how long things are gonna take and it's all tied into the public health driver.

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Of the nature of the recession.

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That we're in is driven by health., so it's a good time, tom,. If we could switch to you and talk about you know, maryland has been at the center of covid and life science response globally. All year.

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And I think it has been there before with polio.

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And cannabis innovation, viral innovations.

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And when you see inside the system now.

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What's underway in terms of pandemic, research,.

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What is the university doing to nurture that research, along?.

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Obviously,, we all want it to speed up specifically to covid.

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But thinking about connecting it to future manufacturing.

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Of innovation,, not just for covid., can you give us a lens into the research side at university?.

D

Sure, sure and I'd like to provide a little bit of context, too.

D

When you talk about maryland,, you mean the system itself, it consists of 12 institutions.

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Throughout the state and three regional centers.

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Over 170,000 students enrolled and we have like close to 20,000 faculty.

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20,000 employees, too., so they're a lot of people involved in the day-to-day operations and learning enterprise and research enterprise.

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At the university of maryland system.. We do about 1.4 billion in sponsored research.

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And an operating budget of over $5 billion, so it's quite an enterprise.. So first and foremost, safety of our students,.

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Faculty and staff are foremost in our minds.

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So we've had to react in a way that leverages.

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All the great minds and great thinkers throughout the system and great managers to make sure that students are safe, that we're still providing sound instruction and continuing that research. Enterprise.

D

So from a reactive standpoint,, it's been really important. That,.

D

I guess. If there was an operative phrase, I'd use, it's like, necessity has bred invention and partnerships.

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So, where our institutions are really good.

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At individual things, I've seen them partner in a way.

D

That's pretty unprecedented over the last four to five months and that's internally..

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Externally, the way we're working with our federal and industry partners now,. It's really turned up the sound.

D

On those interactions as well., because when we're doing all this great work, we realize the importance and its value of getting it out into market and getting it out into application sooner,, as you had described. so,, you know some of the things,.

D

And chancellor perman refers to the system as a public good., not only for its people but for the work that it provides..

D

You know the university of maryland was the first in the nation to test a human.

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With a vaccine trial in partnership with pfizer and biontech., we've worked with the state of maryland on this testing regimen that went from 3,000 a day.

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And with the implementation of some robotics technology,.

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We were able to scale up that ability to 20,000 tests per day., so umbc, county executive, and my alma mater,.

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They've developed some incredible rapid tests, technology.

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With the help of national science foundation and in partnership with the university of maryland school of medicine, so that results can come back within a 24 hour period of time.

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towson's. Doing amazing work in speech. Intelligibility,.

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Corporate messaging and social media stigma.

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Related to covid-19., so all of this stuff over the last three to four months has gone from a great idea to a concept,.

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To actually being put into production and application.

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So, while we're in the business of teleworking.

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And remote and social distancing, we've still been able to be productive and working together,, not only person-to-person, but institution-to-institution and system-to-industry and federal government.

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To make some of these important discoveries come to life.

D

You know: where do we go from here?.

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We're looking at what happened last spring., we transitioned to all online programming.

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I think the financial hit we took is somewhere in the neighborhood of 235 million, just in one semester.

D

And you know we have summer semester ongoing now and we're trying to plan for the fall.

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You know blended learning,, in-person and online instruction.

D

So there's a lot underway for the day-to-day work.

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That we do from a learning capability.

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but there's important work that we're doing.

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At the federal level and with industry, to, again,.

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Make sure the realm and effectiveness of this testing.

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Is really enhanced. we're working with the maryland tech council right now and the major employers in the biopharma and medical device industry throughout maryland.

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What are the immediate needs?, we need samples.? How can we share capabilities?? How can we like partner on new medical device, technology?.

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Right now, university of maryland, college park.

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Put together a medical device challenge and awarded $50,000 awards to three different innovators.

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From within the system., these are surgeons, faculty, members, student teams.

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For new medical devices., we are in the midst of an app challenge.

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Where we're making financial awards available to student, teams, startups and recent grads.

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For the best smartphone app technology.

D

And that's everything from things that are gonna help first responders to businesses transition in this difficult time and invite employees back.

D

Or enhance employee productivity., so there's some really important work going on and I've gotta go back to that element of partnership.

D

So there's a lot of federal money out there and we're all chasing it and we're trying to team up..

D

The maryland department of commerce has been a great partner., the department of labor in working with us, and we put together a consortia to go after some of this money.

D

particularly, in the area of manufacturing, because that's where we see significant opportunity,, particularly in baltimore county with your great history, in that sector.

D

We're in a new manufacturing and industrial age now, where we're gonna, have to make it here. we're gonna, have to reshore this capability and look at it from a supply chain. Standpoint,, a medical device standpoint, and, ultimately,, a biomaterial production.

D

And a vaccine development standpoint., so we have the capabilities here.

D

And what we're in the process of doing is taking a close inventory and taking stock of those capabilities,.

D

Connecting the right people and making sure we're scaling up what's working right now,.

D

The possibilities for the near term.

D

and over the long-term we're working together to develop.

D

A strategy, so if that device is conceived, tested.

D

And a prototype is developed, that's all happening right here within the state of maryland. and we can get it to market quicker.

D

For the benefit of the human condition,, if you will.

D

So this is really an interesting time..

D

Resources are scarce,, but right now pulling together.

D

We're able to take advantage of the scarce resources.

D

That we have and,, I think,, put them to work for maximum benefit.

D

and conversations like this. It's really important.

D

Right now we're even seeing some of our startups getting series a funding. we're making investments in own startups right now, continually.- and this is not a great time to be out there.

D

Looking for venture capital., but we see these ideas and their promise.

D

And the need to apply these ideas quickly., so we're trying to make investments in those ideas to scale them up quickly,, so they can be not only sustainable but implemented for benefit.

D

To citizens in maryland and globally.

A

As you're talking about how important these dialogues are,.

A

I'm thinking about a month or so ago, county executive.

A

And dave hickey up at bd, going back and forth.

A

About coordinating plans and out of that conversation that smalltimore conversation came a real innovation.

A

For baltimore county and really for the region.

A

county executive,, I don't know if you wanna highlight what arrangement you struck with bd,, but it was really an innovation built on what tom was talking. About.

A

yeah,, it's great and I promise.

B

We didn't rehearse any of this before this conversation to anyone watching, but scott. First and now, tom really teed up.

B

Some of the things that we're already doing.

B

I think you're speaking to the realities on the ground., you know with, will,, with your leadership having us reach out to our institutions,.

B

Including bd up in sparks, we were just sort of doing a touchpoint about how we can be partnering through this pandemic.

B

And, obviously,. Through that conversation it was like, well, you make tests. What's your sort of capacity.

B

To help local governments? and we learned that they have a full, complete kit,.

B

Complete fda approved test that they're shipping all over the world.

C

And it was sort of like, well,. Why not partner.

B

With an organization in our backyard that is reliable, easy to get to,.

B

Has all the approvals, has a long history., and so that sort of speaks to that public-private partnership where we're getting at least 2,000 tests, full complete tests a week from bd that we are deploying at our five test, centers across baltimore county., and then anything that we don't need, we're hoping to have,.

B

God forbid, there's a spike,, but if we ever need to ramp up because of nursing homes or our employers or education, we're building additional capacity,.

B

But we're doing it because of the innovation right here in this region, which is really exciting.

D

I really applaud that effort., you know on the side of it is the whole data collection.

D

And analysis and utilization.

D

so amazon, web services and ibm,.

D

They've partnered with us in real meaningful way to launch this app challenge and umbc's.

D

Alex brown center for entrepreneurship is involved, too., so we're trying to even get our students engaged in this whole fight., so county executive,. I applaud that outreach to bd.

D

they're an important employer in our ecosystem.

A

It's heartening to know that these things are getting knit together. county. Executive's economic advisory board has a couple of life sciences, companies that have jumped on and said our labs are kind of gone, dark right, now.

A

If you need our labs to support this, and it's really great to see because you really don't know. and I'm thinking my own son- is gonna, go back to college.

A

In ohio in a couple of weeks and I'm hoping that their county health officials.

A

And leadership are as tied in to the leadership.

A

In higher ed that we have here., it's a real blessing to know that these things are getting coordinated.. I'd like to shift over to michelle.

A

And really focus in a little bit on our industries,.

A

Because I know you're really focused at a regional level.

A

At eagb and everything kind of got turned upside down.

A

With covid,, but tech has shown itself with real potential.

A

And I'm wondering what you're seeing.

A

I know dr. irani's talking about a multiyear recovery.

A

But what are you seeing locally? Our opportunity is in growth.

A

And the forecast over the next year or two for the greater baltimore region?.

E

Thanks, will, and as I've listened to the other panelists and the county executive and you,, I mean there's a couple of words that are really a resounding theme.. You know. Daraius spoke about technology.

E

Scott resiliency and sustainability.

E

and partnerships and collaborations, tom and you, county executive.

E

and those are the attributes that really support our growth industry sectors.

E

and the three areas that,, if not already seeing growth. In spite of the pandemic,.

E

They at least have the real potential for growth; are cyber and it,, particularly cyber,.

E

Health care and life sciences and logistics., and with cyber I mean we're blessed in this region,.

E

We've got fort meade,, we've got nsa,, we've got aberdeen, proving ground, we're close to d.c.

E

But as more and more companies realize their exposure,.

E

Significantly,, due to sending people home to work with home access and sharing your computers with whoever else is living in your household,.

E

There's a renewed focus on securing data.

E

Even the smallest companies,, anybody who has a computer.

E

And puts any data on that computer has to be aware of cybersecurity., so we work very closely with the cybersecurity association of maryland, and it's really a lot of it is an awareness and communication effort to get companies to understand.

E

That everybody should be concerned about cyber. and we have so many assets. Here.

E

And the educational system, tom, the whole system,, the university of maryland system is churning out.

E

Those individuals that need to support the growth of that industry.

E

and then we go on to health care and life sciences, which we've all talked about.

E

We have, again,, so many assets and frankly too little recognition in greater baltimore.

E

Of what these assets bring. we've got: amazing research, parks.

E

we've got private sector companies.

E

And we have federal labs. the life science industry is growing.

E

You know we're reading in the national press, we're reading about the university of maryland, we're reading about johns hopkins, about umbc.

E

we're reading about emergent biosolutions.

E

A very strong company in the region, with facilities at bayview., so all that really needs to be packaged so that we can let the world know, frankly, that we have these amazing assets here in the region that continue to grow the life science, industry.

E

and last,. But hardly least, is logistics,.

E

Already mentioned by daraius., we have distribution companies in cecil, county,.

E

Carroll county, harford county, in howard, county,.

E

The city, tradepoint atlantic, in baltimore, county and elsewhere in baltimore county that are hiring.

E

in fact, they're having a difficult time hiring because they need so many employees.

E

e-commerce, which was already growing before the pandemic.

E

Has exploded during the pandemic because you didn't have bricks and mortar stores to go into.

E

well,, whatever the new normal is.

E

E-Commerce is gonna continue to grow.

E

and frankly,. When you order something online, you want it yesterday.. So proximity to markets is really, really important..

E

And one way that I think in terms of looking at partnerships and collaborations- and this was mentioned- yesterday, tom and scott,- on the call with rmi, regional manufacturing institute, with respect to manufacturing.- is those logistics. Companies that understand their supply chain and diversify their supply. Chain, will be more resilient whenever there's another major disruption,.

E

Whether it's a hurricane,, whether it's another pandemic,.

E

Whatever it might be. so looking at the ability of some of these major companies, large companies, you know with one million square foot, distribution, centers and more, to see if we can work with them.

E

To analyze their supply chain and see what we can locally source. so that smaller companies, the companies that, scott, you're, particularly interested in both on the manufacturing and as well as a logistics side.

E

Can participate in that industry's growth.

E

Because they can participate in the large company's need.

E

For supply chain, diversity.

E

sharing workforce.

E

just this last week, I've had three requests from individuals who are working with companies interested in a baltimore regional,.

E

Greater baltimore location, who are asking about workforce.

E

What's the pool of available workforce?.

E

One of these is looking at manufacturing. two are looking at logistics., so we need to look at workforce regionally..

E

You know individuals who are trained in cecil county.

E

Should be able to access jobs at tpa.

E

A lot of that requires some partnership and collaboration..

E

It also requires, frankly, that public transportation be much more robust than it is right. Now.

E

In terms of from a regional perspective., so looking at these types of partnerships and collaborations.

E

And, frankly, from a marketing perspective shining a spotlight on the assets that we have.

E

And looking at the assets in greater baltimore and how we can also collaborate with the assets right down the road in the d.c. region., because we should be working in synergy and not as competitors.

A

That's a great point. when you guys (mic, echoing drowns out speaker).

A

I'm sorry if there's a little echo there.

A

It feels like this is the right time to rally around.

A

One clear thing is we're a net exporter of talent.

A

So all of you who are part of higher ed or have a phd or are educators yourself,.

A

That has been the secret, shiny fact for a long time.

A

That we export talent. and when young people come here to get educated.

A

And we let them go or our own young people, leave,.

A

That is our greatest asset. and these attraction projects that you're talking about,.

A

Michelle,, the companies that are coming to you, talent is number one and it's number two..

A

It's always talent. [michelle] absolutely, right. and we're abundant in that. Even if we have branding issues.

A

Because of the wire or something like that., we have what people actually want and we have an amazing location on the eastern seaboard.

A

And a high quality of life. and that's not fluff,,.

A

Those are all real assets to build upon.

A

and I wonder, there's a question that came in, michelle,.

A

If I could just throw out to you about, are you seeing.

A

A change in the number of business inquiries.

A

That have been coming in wanting to open.

A

Or relocate in the baltimore region?, just during the 100 days of covid, have you seen an up, a down or level there?.

E

Logistics is the one area and, to a lesser extent, manufacturing., but primarily logistics is an area, again,.

E

That there seems to be a lot of interest in, and not only do we have these three requests that have come in,, but also just talking to.

E

The economic development officers in the other counties.

E

In our region, they are getting much more interest..

E

I think the health care, life sciences will come.

E

To your point,, we compete with places like boston,.

E

With philly with the research triangle, park.

E

But where we can win is not just the assets.

E

That the research that's already ongoing here in the university system, but the quality of life.

E

it's much cheaper to live in greater baltimore area.

E

Than it is to live in philly or boston,.

E

Or even in the research triangle park in terms of what we have to offer.

E

the same thing with manufacturing., you heard this yesterday,, scott and will,.

E

You know we've never viewed manufacturing as a being competitive..

E

We cannot compete with the southeast in terms of the cost of energy, in the terms of the fact that they're right-to-work states and we're not and in terms of land, costs.,.

E

But as manufacturing increasingly relies more.

E

And more on technology: that's where we're going to compete.

E

The manufacturers are beginning to understand that that their future is in technology-based manufacturing,.

E

Not in the old assembly line plant paradigm.

E

I think you know to the other point, quickly,.

E

Right now we're so immersed as we need to be.

E

And scott and county executive, you mentioned this in helping those companies, those particularly small.

E

And mid-sized businesses that are really, really struggling.

E

I think once we get a handle on help, move them forward,.

E

Which ones are sustainable and as, scott,? You said there are many that will not be sustainable,.

E

Then we can begin to,. I think, look at what industry sectors.

E

Are these sustainable, small and mid-sized companies.

E

What are they working on,? What are they doing and how can we help them? Build resiliency?.

A

All right, one of the questions that came in relative to that, michelle,, I'd like to throw to scott., I think folks, are seeing you as an advisor.

A

To a lot of businesses,, so their asking a very good question: here.: are you actually seeing on the ground opportunities.

A

For startups right now because of covid?.

A

Interesting question.

F

I would say, yes,, but that space is also being filled.

F

By those who are in business today, who are pivoting, right.

F

So they've got some level of past performance.

F

So they made startups in different,.

F

What I would call industries or product sets,.

F

Where they have some skills.

F

That they were already bringing to it. and I've seen it. I'll, give you one example., there's a company, unfortunately,, not in baltimore county,, just in baltimore city over in the wicomico building.

F

Who is doing 3d, printing and was, actually,? I would say struggling.

F

This has opened up a whole new opportunity, whether it's 3d printing, masks and face shields.

F

And all kinds of other things., so there are opportunities that are coming out of this.

F

The other piece that I'm finding really interesting is black lives matter and the impact from a economic perspective.

F

With folks wanting to do business, seeking out opportunities to do business.

F

Where it's specifically with black-owned firms.

F

and that's something that's within the last three to four weeks that I'm beginning to see,, which is pretty,.

F

I just would not have kind of put those two things: together.

F

So there are opportunities emerging out of kind of this.

F

Double pandemic that we're involved with at the moment.

A

Can you just, scott,, can you share with folks the organization that you have behind you there,.

A

That you're, a part of with the chamber?.

F

Sure,, so the minority business development agency is a federal agency.. They provide funding to centers around the country.

F

I operate a center for baltimore city..

F

It is the mid-atlantic minority, business development agency.

F

Advanced manufacturing center. so with the work that I'm doing with the city,, I'm working with a number of minority manufacturers.

F

From virginia up to jersey, with most of them.

F

Being in this region.

A

Okay, thank you. tom. I know you wanted to jump in there on the question about what opportunities are there because of covid.

D

Yeah, look,: let's look no further than some of our research parks, bwtech potomac photonics.

D

They were able to pivot and they received a grant to develop ppe.

D

There are two other startups usm related, system related that received similar grants.

D

But bwtech and umbc they have this huge cluster of cyber companies. towson's, opening their new innovation center.

D

the west side biopark, some of our other institutions,.

D

We're really looking to invest early, at an earlier stage in these ideas that today, maybe covid specific but may offer benefit.

D

By way of other applications down the road., the medical device challenge I mentioned earlier.

D

Was a joint competition held by university of maryland, college park and university of maryland, baltimore.?

D

These awardees,, like surgeons, actually working on cardiothoracic solutions.

D

To the ventilator challenge., actually developing new technology, that could be the new company,, the new big startup of the future, if not for this $50,000 investment to help scale their idea.

D

So now's the time to really make wise investments.

D

As scott was saying in some of these companies that have promise., because the data'll show 80% of these great new startups.

D

They stay wherever they get their first. Investment of support.

D

Or mentorship, or they have a talent, pipeline.

D

So we keep looking for new ways to develop new internship programs or ways to share faculty so that there's a greater connection to these companies in the communities..

D

So our students see directly that line between their education and the way they either develop. Their ideas.

D

Or their technologies or start the businesses theirselves within their own community.

F

So, will,, if I could jump in 'cause, just something I think your point,.

F

You said a couple of things that are very important in what I'm saying.. Those firms that are successful have some level of mentorship or their working collaboratively, cooperatively,.

F

With each other in some way, shape or form to bring product to market.

A

It's reminding me of dr. irani, what's happening between.

A

At the towson armory between county executive.

A

And our economic development initiative and, guys and president schatzel coming into the space.

A

We'll come out of covid,, but the kind of space where somebody who has an idea,.

A

Maybe they're working with a scott phillips- or maybe it's company, coming from out of the area that michelle's bringing in. but that armory is gonna, be a brand new activated space.

A

Where you can get that kind of wrap, around,, first money, mentorship or connect to your supply, chain.

A

I'm thinking of like infercabulary,, you guys have some pretty innovative companies already in that space.. Can you paint a picture for where the armory might be in maybe a year from now after that comes out of the ground?.

C

Sure,, so the armory is exciting,.

C

Startup tu is the official moniker.

C

But we're looking to be similar to an ann arbor spark.

C

Kind of a modeling., the partnership between the university and economic development, but we're having an accelerator program., so we're gonna have external companies,.

C

You know startup companies come in as a cohort.

C

and we have a wonderful new executive, director,, patrick mcquown, from jmu who started up two successful.

C

Technology companies in his college, dorm.

C

So has got some great street cred, understands the space.

C

But is really excited about bringing entrepreneurship here to towson university as well as towson in the armory.

C

So, yes,, a startup company can walk in work with the county economic development, individuals,.

C

Work with our team. kind of figure out, what's the next steps., you know it's a great place to bring in a perspective company that wants to locate in baltimore county and see the assets. We have there, the resources that are available in that space.

C

So it is a wonderful space., so we imagine every year putting about two to three accelerator cohorts,.

C

So about six companies each going through that, graduating.

C

And, hopefully, graduating with funding.

C

And then landing up in baltimore county where they rent office space,, they live,.

C

They make their homes,, they pay taxes,, they go to our public k through 12 schools,, all the wonderful things, and they see the support that baltimore county economic development and baltimore county government gives them.

C

And I think that's gonna be critical., so we're excited.. We see it as a catalyst for growth both for the county, as well as the university.

A

It's gonna be great.. Really, towson university has been growing as a regional player. Since president schatzel came in.

A

And a business player., this is really gonna, be kind of a watershed moment in our county, with this partnership with the county.

A

I did get one question in from a participant.

A

The county executive was talking about our small business grant program that $10 million fund.. Have there been any grants, dispersed yet?.

A

Yes, there have. there's been a think. A million two has already been dispersed out of the several hundred grants.

A

That have come through both the small business and the artist programs., so they're working their way through the system and when people have submitted applications.

A

That didn't quite meet the need.

A

We're working with these companies to try to get them through a successful application., so it is moving and we've got money coming out.

A

I have a bunch of questions coming in from people,.

A

I think we've touched on most of what I'm seeing.

A

About reshoring and businesses that have been hurt.

A

So we're short on time.. I wanted to give everyone a chance to make a final remark.

A

If I could start with the county executive before we wrap up., we still have a couple of minutes to go. Here.

B

Look,, I know we're tight on time,, so I just wanna thank everybody again for their partnership..

B

Thanks to everybody for listening today., we remain resolute in baltimore county to be an important partner, again,, not just in protecting the safety and wellbeing of our residents,, but having a resilient plan where we are thinking about. What's next.

B

covid's challenging us to do things, differently.

B

You know, I think tom talked about how quickly firms.

B

And how quickly our universities are adapting.

B

We're seeing government do that, too. and we're doing things differently and more quickly than ever. Before..

B

These are times that call on us to do things differently and think differently, and we're prepared to be help be a partner in that work.. So, thank you.

A

Thanks for pulling this together, mr. county executive.

A

Dr. irani,, any final remarks?.

C

This is a long road to recovery.

C

There is a light at the end of the tunnel and we have seen sort of improvements in data.

C

But you know, again, stay the course and be patient and, again,. We have plenty of resources.

C

Available from the county, from the state and federal that can assist small businesses to succeed., so make sure that you contact.

C

Your economic development, offices.

A

Thanks, scott, any final thoughts.

A

yeah, will,. I would take a lead from the county executive.

F

And ask everyone to have an intentionally inclusive mindset.

F

'cause, if we don't we're gonna leave some folks behind and that's not gonna, be good for our overall economy.

F

That's what we work on every day with the mbda.

F

I'm specifically saying to those who are interested in finding out more about what we're doing with that,.

F

They can reach us at baltimorembda.com.

F

And, once again, will,, thank you for having us participate.

A

Thanks scott and thanks for bringing the inclusive issue.

A

To it, 'cause there's work, that's underway and we need to do more.. We appreciate that.

A

tom, final remarks from the system?.

D

Yep, look, we're gonna continue to develop the best and brightest minds and I'm confident that collectively.

D

We're gonna come up with a solution to this. That's gonna get us back to normal quickly and do the best that we can to care for your loved ones.

D

I encourage you to go to our website www.usmd.edu.

D

And log on to our covid research and innovation task force.

D

Webpage, that's where you'll see a lot of the work that we're doing both today and going forward to combat this deadly outbreak.

D

And to help make us all safer., so thanks again for the opportunity.

A

Great, thank you, tom. and michelle you're gonna have the final word for today.

A

E

I just wanna reiterate what has been said before in terms of talent.. We need to keep the talent that we're growing out of our university system,, our educational system,. We need to keep them here., we need to import more talent.

E

and one of the marketing assets that we need to get to,.

E

We're not there yet, is that we are a region that understands that economic opportunity.

E

Has to be available to every single person.

E

Who lives in this region. and it's upon all of us,, including our private sectors, significantly,, to make sure that those pathways to economic sustainability,.

E

Personal economic sustainability, are open and robust.

E

That is a marketing asset and we need to figure out how to get there.

A

Well, terrific., I like the blend here of the reality of how difficult things are, that dr. irani laid out pretty starkly,.

A

But that the strength of our region is putting us in a spot.

A

Where, when we bounce back and we are bouncing back,, we can come out stronger as a region..

A

So I really appreciate everybody here doing this work.

A

You know behind the scenes we've had a lot of folks on our team, ellen and courtney and todd, jessica,.

A

Drew, kristen. thanks for pulling together these webinars.. I think we get some value out of these when we come together and just circle around, and then we all go back to diving into doing the hard work.

A

So I wanna thank you all and thank you all for the folks that have been watching,, it's important for us to have a bigger, dialogue.

A

so-. Thank you.

C

For the opportunity. yes, thank you., see you guys. see you., take care.

B

[Johnny] thanks again, will. thanks everybody.

A

Nice touch, court.

A

All right, great, thanks courtney, nice job.

E

[Courtney] thanks, will.. It was tough with the powerpoint today.

A

Nah,, you did good jumping around.. I appreciate it. all right, talk to you. Later.