POPULATION: 5,828,289 (2011)
LABOR FORCE: 3,072,246 (2011)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Manufacturing, transportation,
agriculture, financial services,
fishing, marine industries
EXPANDING INDUSTRIES: Biotechnology, information
technology/cyber security,
telecommunications, environmental
industries, aerospace
and defense, technology-driven
manufacturing, healthcare,
financial services, tourism,
warehouse and distribution
COLLEGE GRADUATES: (Age 25 and over) 36.9%
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 may tax business
personal property
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 secondstage
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