Report estimates 2,100 jobs, $325 million in economic activity, and $4 million in annual repeatable tax revenue for the Baltimore County project, Detailed analysis on project’s website: www.LuthervilleStation.com
Lutherville Station LLC released an economic impact study for the proposed Lutherville Station Transit Oriented Development at the current site of the Lutherville light rail station on West Ridgely in Timonium, Maryland.
The study, conducted by Richard Clinch, PhD, Executive Director of the Jacob France Institute at the University of Baltimore, notes the significant $325 million impact the project will have on job creation and tax revenue for Baltimore County and the State of Maryland. The report was commissioned in 2022 and was included in the transit-oriented development proposal submitted to Baltimore County for a recommendation to the State of Maryland for approval of the TOD designation.
“We are pleased to make this economic impact data available to the public and the members of the community,” said Mark Renbaum, a Principal with MLR Partners and one of the members of Lutherville Station, LLC. “While the data was submitted based on our project proposal, we want to make sure that it is easily accessible to all. The proposed TOD at Lutherville Station will be a game changer for Baltimore County by providing housing options, office space, green space, new retail space, and dining amenities within walking distance of the light rail that provides convenient access to Hunt Valley, the Maryland State Fairgrounds, downtown Baltimore, Penn Station and BWI Thurgood Marshall Airport. Furthermore, the proposed TOD would be the first live/work/play environment of its kind along York Road from Towson to Hunt Valley.”
The Economic and Workforce Development Impacts of the Development of the Lutherville Station Project report analyzed the economic, fiscal, and workforce development implications of the proposed project, noting that “the office and retail businesses tenants and apartment residents locating in the Lutherville Station project will also impact the community and County economy.”
Among the report’s key findings:
- The construction of Lutherville Station will create 2,161 jobs,
- After project completion, Lutherville Station will employ and retain 847 professionals inside the development,
- The project will generate $324.5 million in Baltimore County economic activity and $4 million in annual repeatable tax revenue
- Approximately $12.1 million in State and local government revenues will be generated, including $4.2 million in estimated County government revenues.
“The economic impact of the proposed Lutherville Station project is undeniable,” said Brent Howard, President and CEO, Baltimore County Chamber of Commerce. “The Lutherville Station TOD creates jobs and economic activity, expands housing opportunities in close proximity to transit, while providing critical tax revenue for our state and local governments.”
Richard Clinch, PhD is an expert in the areas of economic and fiscal analysis, economic and community development policy research, economic impact analysis, and technology policy. He has authored over one hundred studies on the economic, fiscal or workforce impacts of policy decisions.
The Economic and Workforce Development Impacts of the Development of the Lutherville Station report can be found on the newly launched Lutherville Station website: LuthervilleStation.com. The website also contains additional project information, current news, and a contact form to stay informed about ongoing project updates.
The full Economic Impact Data Report can be found here.
