What enables some rust belt cities to regain their luster, and what causes others to further oxidize? That’s the question The Brookings Institute answers in a recent report analyzing America’s older industrial cities (OICs). The short answer is that cities are faring based on how well they take advantage of what they have and how inclusive that effort is. We’ll get to where the Report benchmarks Baltimore among 70 OICs on the industrial corrosion scale shortly.

First, to how Brookings’ Metropolitan Policy Program benchmarks OICs. It uses three measures (i) growth, evidenced by increase in jobs in established and new firms, (ii) prosperity, evidenced by increase in wages and by household income, and (iii) inclusion, evidenced by employment by population group and median household income between groups.

The Report doesn’t hold its punches when evaluating OICs like Baltimore:

• They grew slower than other areas of the country
• OIC employment has rebounded but incomes have not
• Inclusion in OICs lags, whether measured by employment rates, income, or concentrated poverty
• Jobs gaps are evidenced by declining employment in advanced industries and growth in industries with “lower levels of ‘economic complexity’”
• Higher racial segregation, including “deep educational attainment disparities by race and ethnicity”

For some good news, here’s what is driving growth in certain OICs:

• Outsized presence of research institutions, yielding an increase in high tech jobs and plenty of “untapped potential for research commercialization”
• Increasing re-urbanization, often with “clustering of employment at the neighborhood scale”
• “Commitment to distinctive quality of space,” through reuse of industrial buildings, “human-scaled neighborhoods,” vibrant arts institutions and arts communities
• Demographic transformation, including “age balanced workforces” and immigration inflow higher than other areas

How does Baltimore rank among the 70 OICs? Based on the measures outlined above and in their Report, Brookings ranked OICs in four categories from Strong, Emerging, Stabilizing, to Vulnerable. Here’s a link to how Baltimore fared.

For you nay sayers, and unlike much of what seems to be written about Charm City – we ranked “Strong,” placing us among the top older industrial cities positioned to succeed. What’s important to understand, just like this coming week’s Preakness, is Baltimore’s opportunity lies in our post position. Our ranking doesn’t handicap how well we will realize the future we envision; we’re simply fortunate to be competing with the assets we have.

And we have our challenges. As I wrote in my last column, not the least of which are lagging measures of economic inclusion. Just like with the Associated Black Charities report, Brookings argues that inclusive growth, “while applicable to cities of all types, arguably has particular relevance for older industrial areas.” What’s revealing about the concluding analysis of the Brookings Report is that those older industrial cities which have momentum focus on economic inclusion – and drive activities, organizations, training and support that measurably accelerate job creation, job preparation and job access.

Best practices (and lessons learned) are unfolding everywhere, from Syracuse to St. Louis. And with a nod to Baltimore – the model implemented by our own Thread is highlighted as an example of how proximity to those in greatest need, coupled with intensive mentoring, has profoundly changed young lives. As Brookings has concluded, Baltimore’s post position is excellent; it’s up to us to realize the future it portends.

With more than 30 years’ experience in law and business, Newt Fowler, a partner in Womble Bond Dickinson’s business practice, advises many investors, entrepreneurs and technology companies, guiding them through all aspects of business planning, financing transactions, technology commercialization and M&A. He’s the past board chair of TEDCO and serves on the Board of the Economic Alliance of Greater Baltimore. Newt can be reached at newt.fowler@wbd-us.com.