Despite last week's blizzard that literally shut down Washington, Tower Federal Credit Union is still optimistic about the findings from a new report that show the region has several qualities that may make it ideal for stronger economic growth this year.
The $2 billion Tower FCU in Laurel, Md., and the Baltimore-Washington Corridor Chamber commissioned a report that detailed the area's Top 10 superlatives that make the Washington and Baltimore region appealing. The draws included the local real estate market, proximity to federal government agencies, advantageous corporate tax structures, per capita income and relocation of military base personnel to the area as a result of the federal government's base realignment and closure initiatives.
Economist Anirban Basu, chairman and CEO of Sage Policy Group Inc., a Baltimore economic and policy consulting firm, conducted research for the report. He predicted a better economy in the corridor in 2010, citing recent growth in home sales, residential construction, industrial production, retail sales, exports and corporate profits.
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