Maryland State Profile

Maryland suffers prolonged budget deficit; business tax climate rates among worst in US; diverse economy, strong wealth and income levels, conservative fiscal management, and low debt burden earn state a general obligation (GO) debt rating of AAA.

• State job growth fell 2.5% in August 2009 from a year ago; national job growth fell 4.4%.
• State unemployment averaged 7.2% in August 2009; the national average was 9.7%
• Personal income rose 0.7% to $275 billion in Q2 2009 from a year ago.
• Tax revenue fell 16.6% in Q2 2009 from the previous year.
• Exports fell 15.4% to $4.5 billion in the first seven months of 2009 from a year ago.
• Venture capital investment in MD fell 51% to $45.3 million in Q2 2009 from a year ago.