Economy of Frederick

park being developed on Frederick's east side. Current tenants include relocated offices of the National Cancer Institute (Fort Detrick) as well as Charles River Labs. As a result of continued and enhanced Federal Government investment, the Frederick area will likely maintain a continued growth pattern over the next decade. Frederick has also been impacted by recent national trends centered on the gentrification of the downtown areas of cities across the nation (particularly in the northeast and mid-Atlantic), and to re-brand them as sites for cultural consumption.

Frederick's historic downtown houses more than 200 retailers, restaurants and antique shops along Market, Patrick and East streets. Restaurants feature a diverse array of cuisines, including Italian American, Thai, Vietnamese, and Cuban, as well as a number of regionally recognized dining establishments, such as Volt and The Tasting Room. Outside of the downtown area are garden variety chain dining establishments that comprise a typical suburban landscape (Famous Dave's BBQ; The Olive Garden; Red Lobster; Denny's; etc.) as well as several independently owned restaurants.

In addition to retail and dining, downtown Frederick is home to 600 businesses and organizations totalling nearly 5,000 employees. A growing technology sector can be found in downtown’s historic renovated spaces, as well as in new office buildings located along Carroll Creek Park. Carroll Creek Park began as a flood control project in the late 1970s. It was an effort to reduce the risk to downtown Frederick from the 100-year floodplain and restore economic vitality to the historic commercial district. Today, more than $150 million in private investing is underway or planned in new construction, infill development or historic renovation in the park area.

The first phase of the Park improvements, totaling nearly $11 million in construction, run from