Market condition is one of the driving variables proposed by Savitch and Kantor (2002). The driving variables offer cities and city leaders leverage when negotiating with businesses for development. Market condition variable is determined by the resources, jobs, and investment initiatives in the city. According to Savitch and Kantor (2002), favourable market conditions are determined by high investment, growing employment, successful economic conversion, sunk investments, high office rents and low vacancy rate, economic diversity, and well established market niches (Savitch & Kantor, 2002). In Baltimore City, market condition variable is advanced by different initiatives and programs initiated by the City Mayor. One such program is the energy initiative announced by Mayor Rawlings-Blake on 3rd September 2014. The Baltimore Energy Initiative is aimed at enhancing the city’s sustainability through the reduction of the energy use in the city. The program is expected to promote local investment as energy costs are expected to go down. The initiative will involve low-interest loans to businesses, and non-profit organization geared towards helping them fit their companies with new energy efficient appliances (Brace, 2014).
The article by Bruce demonstrates initiatives taken by the Mayor to market condition variable in the city. Favorable market condition is portrayed by high investment in the city among other indicators. The investment in the energy initiative qualifies as high investment in the City of Baltimore hence providing evidence of how market condition variable is utilized in the city. Further, reduced cost of energy in the city will provide city leaders with higher bargaining power over businesses hence making it social-centered city economy. According to Savitch and Kantor (2002), availability of jobs for city resident is an indicator of favorable market condition. The improved investment will lead to the creation of more jobs for the residents hence improving the Baltimore’s market condition variable.
References
Brace, C.A. (2014, September 4). Mayor Rawlings-Blake announces Baltimore energy initiative. Stephanie Rawlings-Blake, Mayor. Retrieved from http://mayor.baltimorecity.gov/news/press-releases/2014-09-04-baltimore-energy- initiative-launches
Savitch, H.V. & Kantor, P. (2002). Cities in the international marketplace: The political economy of urban development in North America and Western Europe. Princeton: Princeton University Press.
