The City of Baltimore Development Corporation (BDC) traces its origins to 1991 when it was established under the Mayor Kurt Schmoke administration.
Over the last three decades, BDC has continuously evolved and currently operates as the city's principal economic development agency.
[3][4] BDC’s mission is to is to grow the city’s economy in an inclusive manner by retaining, expanding, and attracting businesses and promoting investment, thereby increasing career opportunities for residents.
[5] The merger came in the wake of an expansion of the Open Meetings Act provoked by the City Council's frustration with the opacity of CC-IH.
However, its board is appointed by the Mayor, and many of its economic programs require approval from the Baltimore City Council.
[2][8] The updated version of the Maryland "Public Information Act Manual" now reads: "A nonprofit entity incorporated under the State’s general corporation law may also be considered a unit or instrumentality of a political subdivision for purposes of the PIA, if there is a sufficient nexus linking the entity to the local government.
The state of Maryland authorized Baltimore to use TIFs in 1994; however, the city was required to secure voter approval through referendum and none were issued.
The corporation and the City are under public criticism for the planning, financing and construction of the Hilton Baltimore Convention Center Hotel.
[16] The ETC ran a program called "AcclerateBaltimore" that gave $25,000 to emerging companies trying to bring a product to market.