Towson University takes a deep look at the “Amazon Effect”
With cities bidding for Amazon’s new headquarters, Vice President of Innovation and Applied Research Daraius Irani looks at how the online company has affected the economy
By Kyle Hobstetter on October 19, 2017
When Amazon announced it would be building a second, $5 billon headquarters, cities from across the United States clamored to place their bids to welcome one of the biggest electronic commerce and cloud computing companies in the world. The bid deadline was Thursday, October 19.
Local cities rumored to have placed bids include Baltimore; Columbia; Washington, D.C. and Prince George's County.
The city with the winning bid will become home to one of the biggest companies in the world and bring over 50,000 jobs to the area.
With a decision looming that will have a huge impact on the American economy, Towson University's Daraius Irani, Ph.D.—vice president of the Division of Innovation and Applied Research (DIAR)—decided to look at “The Amazon Effect” during this year’s Economic Outlook Forum.
The forum, which took place on Amazon HQ2 deadline day, featured Irani’s economic forecast titled “The Amazon Economy,” which not only looked at the effect of Amazon has on businesses but also a broader look at the economy as a whole.
“Even the online retail experience is being driven by Amazon,” Irani said during Thursday’s Economic Outlook Forum. “That’s 50,000 high-paying jobs and the spillover effects. It’s a great opportunity for anyone who gets it.”
Check out Daraius Irani’s presentation from the 2017 Economic Outlook Forum
Irani and staff from TU’s Regional Economic Studies Institute also looked at proposed cuts to Maryland agencies and programs by the Trump administration to critical occupational shortages and the state’s low unemployment rate.
The event also featured a presentation about entrepreneurship in Maryland by R. Michael Gill, secretary of Maryland’s Department of Commerce and a forum on building and scaling an entrepreneurship ecosystem, featuring some of the top entrepreneurship minds in the state.
“Maryland is doing really well,” Irani said. “Maryland is poised to grow, as we have a $330 billion economy."
The Economic Outlook Forum is presented by Towson University’s Regional Economics Studies Institute (RESI). The event features invited business leaders, politicians, notable speakers and educators providing thoughtful commentary and dialogue on the state of Maryland’s economy.
Follow RESI on Twitter for more highlights from this year’s Economic Outlook Forum