31. Maryland

The workforce in the Old Line State is excellent. But it is expensive to live here. 

The US Navy fight demonstration squadron, the Blue Angels, demonstrate choreographed flight skills during the annual Joint Service Open House, Joint Base Andrews, Maryland.
Smith Collection | Gado | Getty Images
The US Navy fight demonstration squadron, the Blue Angels, demonstrate choreographed flight skills during the annual Joint Service Open House, Joint Base Andrews, Maryland.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 287 6 11 A
Infrastructure 157 45 43 D
Cost of Doing Business 99 45 48 D-
Economy 169 21 7 C+
Quality of Life 152 26 26 D+
Technology & Innovation 155 10 4 A-
Education 113 20 25 C+
Business Friendliness 64 35 33 C-
Access to Capital 70 16 15 B
Cost of Living 7 44 44 F
Overall 1273 31 25 -

Economic Profile

Governor: Larry Hogan, Republican

Population: 6,052,177

GDP growth (Q4 2017): 1.2 percent

Unemployment rate (May 2018): 4.3 percent

Top corporate tax rate: 8.25 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 33.80 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

Top States Past Year Rankings

  • CNBC unveils its 12th annual America's Top States for Business study. See where your state ranks in 2018.

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

    CNBC unveils its 10th annual America's Top States for Business ranking, scoring all 50 states on 10 key measures of competitiveness.

Latest Special Reports

  • The personal and economic pain from the COVID-19 pandemic is being felt all over the world. As a result of this unprecedented disruption, businesses owners and employees are dealing with an immeasurable level of suffering and facing scenarios they never could have imagined. Through expert analysis and advice from proven business leaders, The Path Forward explores the extraordinary challenges businesses are facing and offers ideas to help owners navigate this global crisis and thrive once again.

  • Automation, AI and machine learning will radically influence the relationship between employers and their workforce.

  • A look at 50 private companies set to reshape the business landscape.