- Maryland is one of only 13 states with a “triple triple” general obligation bond rating -- AAA rating from the three major bond rating agencies -- and the state has the longest running Triple-A rating with a “stable” outlook from S&P Global, dating back to 1961. 1
- Maryland ranks second per capita among the states and fourth in dollar value of federal government contracts, totaling $42.9 billion. For Department of Defense contracts, Maryland ranks fourth per capita among states and fifth in total dollar value with $15.4 billion. 2
- According to a study on business taxes by Ernst & Young, Maryland businesses pay the second lowest share of state and local taxes, with business taxes accounting for 31.6% of total taxes collected in the state, compared with 44.0% for the national average. Further, Maryland ranks first for the lowest total state and local business taxes paid per dollar of net government spending that benefits businesses. 3
- In the most recent Business Facilities Ranking Report, Maryland ranks fourth among the states for cybersecurity growth potential, fourth also for bioscience strength, and eighth for FTZ import activity, with Baltimore FTZ #74 ranking third among top zones for imports. Among metros, California-Lexington Park ranks first as a STEM job leader. 4
- According to fDi Intelligence, a division of the Financial Times, Baltimore ranks seventh among large cities for connectivity, which includes internet speed; mobile phone subscribers; airport access and flights; and number of ports and performance. 5
- The Port of Baltimore ranks 13th for the total dollar value of foreign waterborne commerce and eighth for cargo tonnage among all ports in the nation. 6
- Maryland ranks sixth in the 2020 State Energy Efficiency Scorecard compiled by the American Council for an Energy-Efficient Economy. The report ranks states on the adoption and implementation of energy efficient policies which reduce energy costs, spur job growth, and benefit the environment. Maryland is the most improved state in the 2019 report. 7
- Two Maryland jurisdictions are ranked in the top ten for their population size class in the Center for Digital Government’s 2020 Digital Counties Survey. Prince George's ranks second and Baltimore County ranks sixth among counties with a population from one-half to one million. The survey examines government technology practices and initiatives to streamline delivery of government services, encourage collaboration, and enhance cybersecurity. 8
- Maryland places third in the 2018 Grid Modernization Index, which ranks states on the degree to which they are moving toward a modernized electric grid. The index evaluates grid operations, state support and customer engagement. 9
- Maryland ranks third in the Center for Digital Government’s 2020 State Government Experience Awards which honor states that offer a sophisticated digital user experience to their citizens. 10
- Maryland places fifth among states with the best economies according to a study that ranks states based on GDP growth, job growth, unemployment rate, poverty rate, and bachelor degree attainment. 11
- Baltimore ranks fifth among the 100 most populous U.S. cities according to the New American Economy's Cities Index, which evaluates cities based on immigrant integration as measured by local policies and socioeconomic outcomes. 12
- In a ranking of the best U.S. cities for public transit, three Maryland communities score in the top 25 including Silver Spring, Takoma Park and Hyattsville. Further, Baltimore places eighth in a ranking of only the largest cities with a population of 300,000 or more. 13
- UBI Global ranks Baltimore's Emerging Tech Centers in the World's Top Ten Public Business Incubators. The ranking is based on 21 indicators including: job creation, businesses graduated, investment attracted, and services offered.14
- Forbes ranks the Baltimore Development Corporation in the Top 10 Community Organizations for Opportunity Zone Players. The ranking is based on Opportunity Zone Players developed by U.S. Impact Investing Alliance, Georgetown University, and the Federal Reserve Bank of New York; which prioritizes community benefit and engagement, transparency and impact. 15
- According to 24/7 Wall St., Maryland is the 9th best state for business based on real GDP growth, average earning per job, educational attainment, and venture capital deals per capita.16
Resources
1 Maryland State Treasurer’s office press release, July 29, 2019.
2 USASpending.gov and U.S. Census Bureau, data for FY 2020; ranking excludes Washington DC.
3 Ernst & Young, Total State and Local Business Taxes, State-by-State Estimates for Fiscal Year 2019, prepared in conjunction with the Council on State Taxation and the State Tax Research Institute; assumes 50% of education spending benefits business.
4 Business Facilities 15th Annual Rankings Report (2019).
5 fDi Magazine, American Cities of the Future 2019/20.
6 Maryland Port Administration, 2019 Foreign Commerce Statistical Report.
7 American Council for an Energy-Efficient Economy, 2020 State Energy Efficiency Scorecard.
8 Center for Digital Government, 2020 Digital Counties Survey.
9 Gridwise Alliance, Grid Modernization Index, December 2018.
10 Center for Digital Government, Government Experience Awards 2020.
11 24/7 Wall St., The States with the Best and Worst Economies, August 25, 2020.
12 New American Economy Cities Index, November 13, 2019.
13 Redfin, Best U.S. Cities for Public Transit in 2019.
14 UBI Global, World Rankings of Business Incubators and Accelerators 2019/2020.
15 Forbes, Meet The Forbes OZ 20: The Top Players Investing for Lasting Impact, December 2019.
16 24/7 Wall Street, “Best and Worst States for Business”, February 18, 2020.