UMB is one of the largest employers in Baltimore and spends many millions of dollars each year to buy the goods and services it needs to function. Community wealth building, or community economic development, is the process of using this role as an economic engine to help West Baltimore.
Communities build wealth at the community level. It means hiring people and helping them increase household income. It also means supporting businesses that start and remain in the community, so that they hire local residents and improve local properties. Another method is making housing in the area more affordable by providing down payment support to employees buying homes within walking distance to campus. UMB has initiatives to address these three areas:
