Baltimore Development Corp. CEO and president Colin Tarbert plans to step down in June to pursue work in real estate development, the agency said Thursday.

Tarbert has headed the BDC, the city’s economic development agency, for six years, helping usher through projects such as CFG Bank Arena’s renovation, Lexington Market’s redevelopment, Baltimore Peninsula’s growth and plans to reimagine Harborplace.

City leaders credit Tarbert for working to attract employers such as CFG Bank, Home Chef, Topgolf, Longeviti and Greenberg Gibbons while helping to retain T. Rowe Price, Morgan Stanley, Amazon, Stifel, Under Armour and other companies.

Tarbert, who earned a Certified Economic Developer credential last year, plans to explore opportunities in economic, real estate and community development and expects to announce details closer to his June 13 resignation. BDC’s board expects to hire a successor in the coming weeks.

Under Tarbert’s leadership, BDC says it has supported more than 3,400 businesses, helped create and retain more than 14,000 jobs and paved the way for more than $4.5 billion in private investment.

“I look forward to seeing Baltimore build on this momentum,” Tarbert said in a statement.

Augie Chiasera, M&T Bank executive vice president and chair of BDC’s board, said Tarbert has been able to navigate complex deals and attract major employers, which “has significantly strengthened the city’s economy.”

Tarbert had come to the BDC after nearly a decade in leadership roles in the Baltimore mayor’s office, where he served under three administrations. He had worked as a deputy mayor for economic and neighborhood development and had been chair of both the Baltimore Hotel Corp. and Baltimore Public Markets Corp.

At the helm of the BDC during the COVID-19 pandemic, Tarbert led economic recovery efforts for the city. He directed a program that offered more than $30 million in COVID-19 relief to small businesses. In early 2022, he launched the Baltimore BASE Network to distribute $8 million in American Rescue Plan Act grants to small businesses affected by COVID. Nearly 90% of the grants were awarded to Black and Indigenous business owners and people of color.

Last year, he worked with city and state partners to support businesses affected by the Francis Scott Key Bridge collapse.

He also helped craft Baltimore Together, a five-year economic development strategy, along with the annual Baltimore Together Summit, a gathering of public, private and nonprofit leaders.

Mayor Brandon Scott credited Tarbert with leadership that helped drive investment, create jobs and steer transformative projects in the city and said “his impact will be felt for years to come.”

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