State Resources


Maryland Business Resources

Maryland is located in the heart of New England with coastline on the Atlantic Ocean. Water is highly prevalent in the state and accounts for 21% of Maryland’s total territorial jurisdiction. During colonial times, Maryland’s main business was in agriculture and was based largely on one crop, tobacco.

Maryland’s manufacturing industry took precedence in the nineteenth century as shipbuilding and steelmaking found a hub within the state. In recent years, most growth has occurred in the general services sector as well as the public sector. In 2000, Maryland residents were among the best educated in the nation, with one-third of residents over the age of 25 holding at least a bachelor’s degree. The growth of Washington D.C. and its suburbs has also created a number of federal government jobs within Maryland. Coal mining, agriculture, and fishing on the East Shore also remain important to the economy.

Business Data

Per Capita Real GDP$39,161 Rank: 14/50 (2006)
Population5,296,490 Rank: 19/50 (2000)
Per Capita Personal Income$44,077 Rank: 4/50 (2006)
Unemployment Rate3.50% Rank: 11/50 (2008)
Business Tax Climate IndexRank: 24/50 (2008)
Corporate Tax Rate8.3%
Individual Tax Rate 2% - 6.25%
Sales Tax Rate 6%

Business Tax Climate Index

Individual Income Tax Index Rank37
Sales Tax Index Rank7
Unemployment Insurance Tax Index Rank30
Property Tax Index Rank39
Business Tax Climate Index24
Corporate Tax Index Rank7

State Information

AbbreviationMD
CapitalAnnapolis
Nick NameOld Line State
State Web Sitehttp://www.maryland.gov
MottoManly deeds, womanly words

Top 5 Export Partner Countries

Canada, Egypt, United Kingdom, Netherlands, Belgium

Top 5 Export Merchandise

Maryland Manufacturing Exports Computers and Electronic Products Sales Electrical Equipment Manufacturing Machinery Manufacturing Textile Mills Manufacturing

Major Cities

Baltimore, Frederick, Gaithersburg

GDP

Total Gross Domestic Product (USD Millions) $268,685.00 (2007)
Per Capita Real GDP (USD)$39,596.00 Rank: 15 (2007)

Population Stats

Population 5,633,597 Rank: 19 (2008)

Age Distribution

Under 18 Population1,356,170
Under 18 Percent of Total Population26%
65 and older Population599,307
65 and older Percent of Total Population11%

Gender Distribution

Male Population48.3%
Female Population51.7%
Non-English Speaker (at home)508,988
Net International Immigration108,972
Birth Rate13.4%
Percent of People Under Poverty Level8.2%
Rank49

Expenditure

Per Capita State Spending$30,808
Rank19
Energy Expenditures per Person$3,504
Expenditures of State and Local Government Employee-Retirement Systems$2,517,990

Revenue

Personal Income$40,969
Rank4
State Internal Revenue Collection$53,705,070
Rank16
Cash and Deposits by State Government$1,722,830
Per Capita State Tax Collection$2,617
Rank9

Education

High School Graduation Rate74.3%
Rank23
Percent of Population with a Bachelor's Degree19.3%
Rank10
Percent of Population with an Advanced Degree15.4%
Rank2

Largest Universities

University of Maryland, College Park University of Maryland, University College John Hopkins University
High School Graduation Rate74.3%

Logistics

Public Road Length (Mile)31,099
Gas Tax Rate (%)23.5%
Highway Planning and Construction (USD Thousands)514,730
Number of Public Airports36

Main Airports

BWI: Baltimore

Ports

Baltimore

Weather


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State Business Links

Secretary of State

Maryland Secretary of State
http://www.sos.state.md.us
Official site for the Maryland Secretary of State. Search Maryland corporation, professional license, and charitable organization records.

Small Business Administration

Maryland Small Business Administration
http://www.sba.gov/localresources/district/md/index.html
The U.S. Small Business Administration, Baltimore District Office, serves the State of Maryland with the exception of Prince George's and Montgomery counties. Whether you are starting a business or operating an established business, the U. S. Small Business Administration has a variety of programs to assist you. The Baltimore District Office provides assistance to help you develop your business. Counseling is offered in the areas of finance, management, technology and procurement. The Baltimore District Office staff is committed to providing quality customer service. Please feel free to contact any of our staff for information.

Top 10 Business Links

Department of Assessments and Taxation
http://www.dat.state.md.us/sdatweb/charter.html
This website provides the necessary forms for many business functions. Forms are supplied for creating, changing, ending, and reviving a business, and for foreign businesses. Guidance is also available on what steps must be taken to start a business.
Department of Business and Economic Development
http://www.choosemaryland.org/
This site is a great source of information for entrepreneurs in Maryland. Users can find statistics on numerous topics, detailed information about all the major state industries, and information about building sites. In addition, information about various business services is provided, such as tax incentives, recruitment assistance, international operations, and all kinds of consulting.
Maryland Career and Workforce Information
http://www.dllr.state.md.us/lmi/index.shtml
From this site, users can find labor force statistics, occupational statistics and projections, wage information, and various industry statistics.
Maryland Daily Record
http://www.mddailyrecord.com/
The Daily Record is a Maryland business news provider. Find current and archived articles, public notices, and a business events calendar.
Maryland Small Business Development Centers
http://www.mdsbdc.umd.edu/
The Maryland SBDCs aim to help small businesses, whether just forming are already in existence. The SBDCs offer training, consulting, financing, and certification help, as well as specific programs and assessments for technology, retail and restaurant, or procurement businesses.
Maryland-China Business Council
http://mcbc.net/
The Maryland-China Business Council applies itself to promoting business communication and activity between China and the Mid-Atlantic region. This is a member organization, but users can see the different events and opportunities currently available, such as meetings, forums, and trips.
U.S. Export Assistance Center of Baltimore
http://www.buyusa.gov/baltimore/
The Maryland branch of the Department of Commerce specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided. Industry information and events and a list of business events are freely available.

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