Monday, May 17, 2010

HoCo Gains, Baltimore Loses

There were three employment related stories in the news the past week. On Tuesday, Legg Mason announced plans to cut 250 financial sector jobs in the Baltimore area reducing their local workforce by about 30%.

On Wednesday, Amports, the operator of two auto terminals at the Port of Baltimore , announced that it will layoff 116 workers as it moves some operations to Philadelphia.

Meanwhile, according to this story by Ryan Sharrow and Daniel J. Sernovitz in the Washington Business Journal, ITT Information Systems is “taking an additional 28,000 square feet of space in the Columbia Gateway Business Park” in Columbia and plans to hire more than 100 people.

It comes as no surprise that the jobs being added at ITT are in the cyber security field.

“The company’s Advanced Information Systems division is also a key player in the military’s war on cyber security.”

We are extremely fortunate to have a growth business in our midst.


Freemarket said...

Obviously it’s easy to get excited about this cyber stuff since it benefits our region so much. However, people in other parts of the country, all or most of which are far worse off than we are, are the ones footing the bill for all of this. The benefit in terms of more secure data networks that they get in return is less than obvious to me.

So I see this as us getting a bigger piece of the pie, but others are getting a smaller piece of pie. The pie itself is not being made any larger.

Tom said...

This just a drop in the bucket for Howard County. Many more jobs are coming and Class A office building are going to be needed (downtown & Rte 32 come to mind)