Economy of Baltimore

lang="EN-US">Baltimore's unemployment rate in July 2012 was 11%, and the 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. One quarter of Baltimore residents (and 37% of Baltimore children) live in poverty.

The city is home to the Johns Hopkins Hospital. Other large companies in Baltimore include Under Armour, Cordish Company, Legg Mason, McCormick & Company, T. Rowe Price, and Royal Farms. A sugar refinery owned by American Sugar Refining is one of Baltimore's cultural icons. Nonprofits based in Baltimore include Lutheran Services in America and Catholic Relief Services.

Tourism

Baltimore's history and attractions have allowed the city to become a strong tourist destination on the East Coast. In 2012, the city saw 21.3 million visitors visit downtown Baltimore alone, spending $4.4 billion. The Baltimore Visitor Center, which is operated by Visit Baltimore, is located on Light Street in the Inner Harbor. Much of the city's tourism centers around the Inner Harbor, with the National Aquarium being Maryland's top tourist destination.

Other popular tourist destinations throughout the city include Oriole Park at Camden Yards, Fort McHenry, the Mount Vernon and Fells Point neighborhoods, and museums such as the Walters Art Museum, Sports Legends Museum at Camden Yards and the Baltimore Museum of Industry