Categories: 2014 Best & Worst States

Maryland is the 41st Best State for Business 2014

Previous State: Rhode Island Next State: Pennsylvania

No. 41 Maryland

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP % Growth ’12-’13: 0.0 % Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.1 Unemployment Unemployment Rate Dec. 2013 %: 6.1 Comparison with Nat’l Rate (6.70%): -0.6 Domestic Migration Domestic Net Migration 2013: -8,525 Rank: 40 State Government State Debt per Capita Fiscal Year ’13 ($): 4,543 State & Local Gov’t Employees per 10k Residents: 535.2 State-Local Tax Burden Rate (%): 10.2% Compared to Nat’l Avg. (9.9%): 0.33%

Key Metrics

State GDP

% Growth ’12-’13: 0.0
% Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.1

Unemployment

Unemployment Rate Dec. 2013 %: 6.1
Comparison with Nat’l Rate (6.70%): -0.6

Domestic Migration

Domestic Net Migration 2013: -8,525
Rank: 40

State Government

State Debt per Capita Fiscal Year ’13 ($): 4,543
State & Local Gov’t Employees per 10k Residents: 535.2

State-Local Tax Burden

Rate (%): 10.2%
Compared to Nat’l Avg. (9.9%): 0.33%

Key Companies
Lockheed Martin Constellation Energy Marriott

Development Trend Indicator: Negative
Push for minimum-wage boost and paid family leave unsettles businesses.

CEO Comments
“I worked in Harrisburg PA. for most of 2013. There was a lot of opportunity, but the competition was challenging. I have worked in MD for the last four months and have had a lot of success. NY does not appreciate small business. NY punishes well-run businesses and rewards only very large, well-connected businesses. Businesses are punished for growing and hiring workers.” “Maryland is bad for business because it over-regulates and over-taxes. They think if you make money you then need to give it all back to those who should be better educated so that they can earn a better living.”

CEO Comments

“I worked in Harrisburg PA. for most of 2013. There was a lot of opportunity, but the competition was challenging. I have worked in MD for the last four months and have had a lot of success. NY does not appreciate small business. NY punishes well-run businesses and rewards only very large, well-connected businesses. Businesses are punished for growing and hiring workers.”

“Maryland is bad for business because it over-regulates and over-taxes. They think if you make money you then need to give it all back to those who should be better educated so that they can earn a better living.”

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.