POPULATION: 5,928,814 (2013)
LABOR FORCE: 3,127,676 (2013)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Manufacturing, transportation, agriculture, financial services, fishing, marine industries
EXPANDING INDUSTRIES: Biotechnology, information technology/cyber security, environmental industries, aerospace and defense, technology-driven manufacturing, healthcare technology and services, financial services, tourism
COLLEGE GRADUATES: (Age 25 and over) 37.4%
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
Energy financing
Community financing:
Loans or Grants 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
Maryland Economic Development Assistance Authority Fund for direct loans, grants, and investments
Investment financing:
Maryland Venture Fund for startup, seed and emerging high-technology business
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
Brownfields Revitalization Incentives
Research & Development Tax Credits
Biotechnology Investment Incentive Tax Credit
Cybersecurity Investment Incentive Tax Credit
Employer Security Clearances Costs Tax Credit
Cellulosic Ethanol Technology R&D Tax Credit
Maryland Wineries and Vineyards Tax Credit
RECRUITMENT AND TRAINING:
Employee training
Recruitment assistance
