Baltimore is building on recent tourism success with significant investments being made throughout the city.
This week, the Greater Baltimore Committee (GBC) announced that nearly $2 billion is being spent on ambitious arts, culture, sports and entertainment projects across the destination.
"What’s happening in Baltimore is not a collection of isolated projects—it’s the emergence of a full creative ecosystem at national scale, backed by billions of dollars in public and private investment,” Mark Anthony Thomas, President and CEO of the Greater Baltimore Committee, said in a statement.
"From artists and makers to major sports franchises and cultural institutions, capital is flowing across the entire spectrum," he added. "This moment builds on decades of cultural strength, but the scale is new—and it reflects growing investor confidence in Baltimore’s creative economy and its role in driving population growth, visitation, and long-term economic momentum."
Sports and Entertainment Enhancements
Baltimore's investments span a handful of key sports and entertainment venues throughout the city, including Oriole Park at Camden Yards, M&T Bank Stadium, CFG Bank Arena and the Pimlico Racecourse.
The Maryland Stadium Authority and the Baltimore Orioles are funding a multiphase renovation to modernize Camden Yards with new premium clubs, upgraded video and sound, enhanced concourses and expanded fan amenities, while nearly $490 million is being invested to modernize the home of the NFL's Baltimore Ravens at nearby M&T Bank Stadium.
Enhancements will include new premium club spaces, upgraded retail and a three-level open-air entertainment destination featuring a main stage and sports bar.
M&T Bank Stadium in Baltimore, Maryland. (Photo Credit: M&T Bank Stadium)
Downtown's CFG Bank Arena recently underwent a $250 million renovation that's attracting more talent and driving visitation to Charm City. Meanwhile, Baltimore will welcome a professional women's basketball team in the Upshot League in 2027.
Finally, a $500 million state-led investment is transforming Baltimore's Pimlico Racecourse—home to the Preakness Stakes—into a modern, year-round racing and events complex.
Approximately $400 million in state bonds and $100 million from the Racing and Community Development Financing Fund will go toward upgraded facilities, community space and a new 800-stall training center at Shamrock Farm.
Improvements to Arts & Cultural Attractions
Baltimore is also pumping significant money into its arts and cultural attractions, with signature events such as Artscape helping to generate a combined annual economic impact of $225.5 million and attracting at least 1.2 million visitors to the region per year.
The destination has multi-million-dollar redevelopments planned for the Pikesville Armory and B&O Railroad Museum. The latter, a 120-year-old historic site, will be transformed into a 14-acre arts and recreation campus featuring artist studios, indoor sports facilities, performance space, public art, outdoor athletic fields and community amenities.
Plus, a $25 million redevelopment is underway at the historic B&O Railroad Museum, with private funding covering $16.9 million and public support totaling $8.1 million.
At the Performing Arts Center in nearby Columbia, Maryland, a $68 million project is underway at the Toby’s Dinner Theatre site to offer a 340-seat dinner theater, children’s theater, black box theater, classrooms and 174 mixed-income housing units.
It's also worth noting that city officials plan to modernize and expand the Baltimore Convention Center and develop a 7,500-seat Major League Soccer (MLS) Next Pro stadium for D.C. United.
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