30. Maryland

The Old Line State is big on new technology, but aging infrastructure and high costs are barriers to growth.

Top States Maryland
Source: George Kavallines
Top States Maryland
Category
Score
2016 Rank
2015 Rank
Workforce 261 10 2
Cost of Doing Business 85 48 48
Infrastructure 125 44 (Tie) 45
Economy 185 23 35
Quality of Life 175 27 29
Technology & Innovation 190 5 7
Education 120 16 6 (Tie)
Business Friendliness 67 26 32 (Tie)
Cost of Living 20 38 40
Access to Capital 25 26 (Tie) 29
Overall 1253 30 36

Economic Profile

Governor: Larry Hogan, Republican

Population: 6,006,401

GDP growth: 1.5 percent

Unemployment rate (May 2016): 4.5 percent

Top corporate tax rate: 8.25 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 51 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Giant Food LLC., Lockheed Martin

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

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  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • To turn the page on structural racism, communities are Changing The Narrative. In this series, CNBC explores the central themes of racial healing through stories addressing implicit bias in economic data, the major obstacles to racial equity at work, how fiscal investment can change the narrative on minority entrepreneurship and the ramifications of the great resignation in the Black community.