It is a pleasure to be at Stevenson University this morning for the United Way of Central Maryland’s Baltimore County Corporate Recognition Breakfast. I thank Kevin Manning and everyone at Stevenson for hosting this morning’s event. Right now, Baltimore County and our entire nation are facing the most severe economic crisis since the Great Depression. In recent months, we have watched as many of the world’s foremost financial institutions have teetered on the brink or have fallen into bankruptcy. Earlier this month, the Dow Jones industrial index fell below 7,000 for the first time since 1997. Unemployment nationwide is approaching 9 percent and has risen in almost every metropolitan area in America. While no worker, family, business, or government is unaffected by the slowdown in our national economy, Baltimore County has positioned itself to weather this downturn. Thanks to our tradition of fiscal responsibility and our accurately forecasting the decline of certain County revenue sources, we are in a strong position to face the ongoing economic challenges. Our fiscal policy is founded on the basic principle that we must live within our means. When real estate was doing well and transfer taxes and recordation costs were coming in, Baltimore County invested in one-time capital projects such as school renovations and construction, road and bridge repairs and replacements, new and renovated libraries, and other capital construction. We budgeted with an eye on changes in the economy, so that County programs and services would operate on a reliable level of funding. Thanks to our commitment to this policy of strong financial management, Baltimore County will avoid the layoffs, furloughs, hiring freezes, and budget deficits that currently plague many governments. Our fiscal approach was recently vindicated when all three rating agencies renewed our Triple A bond rating. We are a triple triple in the financial world. Another benefit of our fiscal stability is that Baltimore County and our Baltimore region are losing jobs at a much slower rate than the rest of the country. According to the Economic Alliance of Greater Baltimore, when compared with the 25 largest metropolitan areas in the United States, the Baltimore region has the third lowest unemployment rate and the seventh smallest employment decline nationally. Even in this economy, the Baltimore region ranks sixth in the growth of professional, scientific, and technical services. As we confront significant economic challenges, Baltimore County is even more committed to maintaining our outstanding, quality workforce, that begins with children in middle and high school classrooms, many of whom will continue and receive an excellent higher education in our community and four year colleges. Baltimore County is proud of its strong partnership with the Baltimore County Public School system, the Community College of Baltimore County, and our many four year colleges and universities. These close working relationships give our workforce the knowledge, training, and skills they need to succeed in the economy of the 21st century. By maintaining the quality of our workers, Baltimore County will continue to attract the most successful businesses to our County. From world renowned financial companies in Owings Mills to cutting edge biotechnology companies in Pikesville to the defense communications companies brought to eastern Baltimore County by BRAC, our workforce has helped attract the employers and jobs that have created a diverse business community in Baltimore County. These businesses will enable our economy to remain strong and vibrant even in the current economic downturn. Perhaps the greatest benefit of our outstanding workforce is that they have brought businesses to Baltimore County that are not just simply business leaders and innovators, but are great corporate citizens as well. Our business community understands that our shared future depends on neighborhoods that are healthy, safe and secure for everyone, from the very young to the very old, and neighborhoods where everyone has opportunity. In spite of the challenge of the current economic crisis, what business has done, through its generous support of the United Way, is to recognize good causes that help build strong families — and strong families create the tight-knit communities that Baltimore County is known for. We are all grateful that so many of our businesses employ genuinely good people — people who, even in this harsh economic climate, care enough to contribute to improving the quality of life for those who are most in need of a helping hand. Thanks to the support of the companies in this room, and the people who work for them, the United Way of Central Maryland was able to make a real difference at a time when their help was sorely needed. During 2008, the United Way was able to assist more than 62,500 low-income and low-literacy families in the education of their children. The United Way provided services that helped to prevent truancy for 2,100 students and helped another 840 increase their basic and occupational skills. Thanks to the United Way, over 1,000 people were able to transition from temporary to permanent housing. 8,400 of the most at risk victims of domestic violence and/or child abuse were able to access and receive needed services. And 160,000 calls for help were received through the United Way’s First Call for Help, a 24/7 health and human service information and referral line. This is outstanding and vital work and I thank Larry Walton, Mark Furst, and everyone at the United Way of Central Maryland for their tireless efforts on behalf of our communities. In Baltimore County, we understand the importance of a strong, diverse business community to our County’s economic well being. We understand the importance of supporting a diverse and innovative economy so that we can weather economic downturns such as the one we find ourselves in today. But we also understand how fortunate we are to be home to a business community that, even as it faces the worst economic crisis in generations, understands the eternal truth that was articulated so long ago by Charles Dickens, that “Mankind is our business.” Your support last year of the United Way of Central Maryland made a positive impact on thousands of lives throughout the Baltimore region. On behalf of the people of Baltimore County, I thank you for your commitment to your community and for your dedication to making it a better place to live and to work. Baltimore County works, and it works because of you.
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Courthouse 