POPULATION: 5,699,478 (2009 estimate)
LABOR FORCE: 2,986,933 (2009 estimate)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Manufacturing, transportation,
agriculture, financial services,
fishing, marine industries
EXPANDING INDUSTRIES: Biotechnology, information technolog/
cyber security, telecommunications,
environmental industries,
aerospace and defense, technology-
driven manufacturing, healthcare,
financial services, tourism,
warehouse and distribution
COLLEGE GRADUATES: (Age 25 and over) 35.2%
BASIC BUSINESS TAXES:
Corporate Income Tax: 8.25 percent
of the net income allocable to
Maryland; no corporate franchise
tax; no gross receipts tax on manufacturers;
no tax on the Internet,
e-commerce, or direct broadcast
satellite services
Sales and Use Tax: 6 percent on
the sale or use of tangible personal
property, unless a specific exemption
is provided
Property Tax: Real property taxed
by the state, counties, Baltimore
City, and incorporated towns; rates
vary; Maryland imposes no state
personal property tax; counties
and municipalities levy local personal
property taxes
BUSINESS INCENTIVES
Industrial development financing:
• Loan guarantees
• Taxable and tax-exempt bonds
• Trade financing
Seafood and aquaculture loans
Energy financing
Community financing:
• Loans to businesses or local
governments
Small business development
financing:
• Contract financing
• Equity Participation Investment
for franchises, technology-based
businesses, and business
acquisitions
• Surety bond guaranty or
direct bonding
• Long-Term Guaranty Program
Daycare financing:
• Direct loans and loan
guarantees
Investment financing:
• Startups, first- and second-stage
technology-driven companies
Maryland Econ. Dev. Assistance
Authority Fund
International financing:
• Supplementary export financing
• Export development assistance
• Foreign-trade zones
Tax incentives:
• Job Creation tax credits
• One Maryland tax credits
• Enterprise Zone tax credits
• Federal Empowerment Zones
incentives
• Brownfields revitalization
incentives
• Biotechnology Investment
Tax Credit
• R&D Tax Credit
• Cellulosic Ethanol Technology
R&D Tax Credit
Employee training
Recruitment assistance
