Archives For Maryland Economy

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Brief Economic Facts, available in DBED’s online document library, provide details on Maryland’s 23 counties, Baltimore City and the overall State.

Did you know that Talbot County is surrounded by more than 600 miles of shoreline, or that Montgomery County is home to more than 250 biotech companies? Each Maryland county contributes unique resources to the State’s overall business climate and quality of life.

As part of the Maryland Department of Business and Economic Development‘s (DBED) commitment to every county in the State, DBED has released its updated series of Brief Economic Facts reports for 2015. These reports, available in DBED’s online document library, provide details on Maryland’s 23 counties, Baltimore City and the overall State. Data includes major employers, wages, population, climate and more.

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guitar factory

PRS Guitars, a major electric guitar manufacturer, will now offer free public tours of its factory.

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Maryland business successes:

  • Baltimore-based Marlin Steel Wire will enlarge its factory space by 50 percent, gain seven times more power and increase production. Learn more about how this company is breaking through barriers on MDBIZ News.
  • Five companies and a research team were awarded $865,000 by the BioMaryland Center within the Maryland Department of Business and Economic Development (DBED). Learn more about the entrepreneurs working to reduce healthcare costs and improve quality.
  • Guitar enthusiasts have another reason to visit Stevensville, Maryland. PRS Guitars, a major electric guitar manufacturer, will now offer free public tours of its factoryContinue Reading…
InternationalDevelopment

The International Development Forum at the Johns Hopkins University Montgomery County Campus educated participants on international development contracts.

Jessica Reynolds is Regional Manager for India and Africa at the Maryland Department of Business and Economic Development.

Maryland businesses are poised to pursue international development work. The diversity of our workforce, generosity of our people and proximity to international development clients makes this industry a natural fit for Maryland businesses looking to diversify their business models. In fact, Maryland is the second largest recipient of awards from the U.S. Agency for International Development (USAID). Organizations in the State received $1.4 billion in fiscal 2014, second only to nearby Washington, D.C.

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Marlin_Hoyer_by_Ruark_090

Marlin Steel Wire Products in South Baltimore brought down a wall this week to make way for a major expansion. Credit Marlin Steel Wire Products

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Maryland business successes:

Credit: National Institutes of Health

Credit: National Institutes of Health

Home to both the National Institutes of Health and the Food and Drug Administration, it’s no surprise that Maryland is a vaccine industry hub. Over a dozen vaccine companies, varying in size and focus, are established in the State. But experts say the draw for these and other life sciences companies runs even deeper.

In 2011, Vaxin, Inc. relocated its headquarters from Alabama to Gaithersburg, Maryland. The company is developing vaccines for anthrax and flu that are administered through the nose, providing fast-acting and long-lasting broad immune responses.

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Maryland ranks third in the nation for green building activity.

Maryland ranks third in the nation for green building activity.

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Maryland business successes: 

Describing his plan as a “new direction for Maryland,” Governor Larry Hogan focused on economic relief during the first State of the State address of his administration, Wednesday in Annapolis.

“Our administration will chart a new course; one guided by simple, common sense principles. Our focus will be on jobs, struggling Maryland families, and restoring our economy,” Governor Hogan said.

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The Maryland Department of Business and Economic Development led a delegation to Arab Health 2015, the world’s second largest healthcare exhibition. Photo courtesy Arab Health

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Maryland business successes:

Small businesses are playing a vital role in the growing cybersecurity industry.

Maryland cybersecurity companies welcomed President Barack Obama’s emphasis on bolstering cyber defense during his State of the Union address.

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Maryland’s economic climate:

MVFEconomic growth is expected to accelerate this year in Maryland and across the United States, according to Mark Zandi, Chief Economist for Moody’s Analytics. Zandi addressed the State’s Senate Budget and Tax Committee in Annapolis this week.

Zandi offered an overall optimistic view of the economy, both at the national and state levels. He agreed with the notion that the national economy finally picked up pace in 2014, with accelerating and consistent growth and rapid employment expansion not seen since the late 1990s. He remarked that this growth is expected to continue and even increase to about 3.5 percent annually during 2015. According to him, this sustaining economic expansion should return the nation back to full employment by 2016.

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Maryland Governor Larry Hogan kicked off his administration with a strong message of economic development.

“Starting today let me say loudly and clearly: Maryland is open for business,” Governor Hogan said during his inaugural address Wednesday in Annapolis.

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