As The Sun's Natalie Sherman correctly pointed out ("Selling Baltimore after the rioting," May 16), increasing investment prospects is critical to the growth of Baltimore's business community. Historically, women entrepreneurs have had and will continue to have a significant impact on the local economy. Baltimore is a great place to do business. The city is home to the country's second largest percentage of women-owned businesses at 37 percent. Baltimore ranks high in digital acumen as the ninth most tech savvy city. At the state level, Maryland is among the top 10 for STEM, generating a significant number of jobs related to science, technology, engineering and mathematics.
The mission of the Women Presidents' Organization is to accelerate business growth, enhance competitiveness and promote economic security for multi-million dollar women-led companies through confidential and collaborative peer-learning groups. In Baltimore alone, WPO members contribute $265 million to the city's economy with average revenues of $6.6 million. These companies employ an aggregate of nearly 3,000 employees. Our 1,800 members on six continents collectively generate $21 billion in revenue annually and employ a total of 146,000 workers.
Recently, Baltimore has felt the impact of lost tourism with the cancellation of at least three conventions that would have brought thousands of people downtown. The impact of lost business could escalate in the weeks and months to come.
Every year, the Women Presidents' Organization (WPO) hosts an annual conference in a different city. The conference attracts over 800 members, representing successful women-led businesses from all over the world, sharing expertise and business strategies and learning from interactive seminars and speakers. It typically generates over $1 million in local expenditures including hotel and lodging. We are proud to announce that our 2016 annual conference will be held in Baltimore, April 7-9, 2016, at the Baltimore Marriott Waterfront.
WPO has a legacy of commitment to economic development. In 2002, six months after 9/11, we were the first organization to host a major event downtown in New York City, at the Marriott overlooking the World Trade Center site.
WPO has set a goal of making the 2016 annual conference in Baltimore the organization's largest ever. We are exploring the possibility of adding a job fair, with jobs provided by WPO members. Attendees will have the opportunity to travel to our nation's capital for behind-the-scenes events at the conclusion of the conference.
Women entrepreneurs have helped build the real city of Baltimore and will continue to do so. As business leaders who have played a significant role in the economic recovery, we will continue to stand strong with Baltimore, to support the local business community and bring additional revenue into the city.
Marsha Firestone, New York
The writer is president and founder of The Women Presidents' Organization.