Maryland is #1

June 15th, 2012

By Raquel Guillory, Director of Communications

Earlier this week, the U.S. Chamber of Commerce affirmed what we’ve known all along—Maryland is outperforming the nation. Here’s what the Chamber had to say:

Maryland is #1 in Entrepreneurship and Innovation

Maryland is this year’s top all-around performer in innovation and entrepreneurship, landing in the top 25 states in all six metrics and in the top three on three metrics.

The state places first on the innovation list due to its high concentrations of high-tech activity and research.

Maryland is the number-one state for academic research and development.

Maryland is in a prime location to serve growing demand for high-tech services in the Washington, DC region…

…The state is excelling at translating its academic research to the private sector.

Maryland is #5 among Top Performing States (our 3rd consecutive Top 5 ranking)

Maryland places fifth overall with top-25 rankings in all seven performance measures. The Old Line State is 5th overall in adjusted income for a family of four and ninth in productivity growth…

Maryland is one of the nation’s high-tech centers… over the past decade the state doubled its jobs in corporate headquarters and management offices.

Maryland continues to focus on developing technology jobs, building on its national leadership in innovation and entrepreneurship. The state’s new InvestMaryland initiative raised $84 million of venture capital in 2012 by the online auction of tax credits to insurance companies, exceeding its goal of $70 million-75 million.

The state’s new Innovate Maryland initiative, adopted by the 2012 General Assembly, is designed to build a technology transfer partnership between state agencies, federal labs, and several of the state’s universities. Led by the state’s successful Maryland Technology Development Corporation (TEDCO), the new initiative will provide grants to university-based researchers developing technologies with commercial potential, supporting the creation of new innovation-based companies and jobs in the state.

[Maryland] offers a biotechnology tax credit of up to 50% for qualied investments in Marylandbased companies and a research and development tax credit.

Governor Martin O’Malley has also emphasized government reform as part of his job-creation strategy…, [including] an intensive, two-month review of state rules and regulations… The process led to the identification of 131 regulations for repeal or revision.

The state launched the Maryland Made Easy initiative to ease business interaction with government agencies… to increase efficiency and reduce barriers for business.

Maryland is among the nation’s leading states for STEM job concentration.

Maryland is Focused on the “Policies that Produce”

Maryland continues to focus on developing technology jobs, building on its national leadership in innovation and entrepreneurship.

The Maryland Technology Development Corporation (TEDCO… is a national leader in bringing innovations from universities and federal labs into the state’s economy.

InvestMaryland is Governor Martin O’Malley’s key economic development initiative… aimed at investing at least $70 million in startup and early-stage companies in Maryland to help create thousands of new jobs with the potential to spur billions in follow-on capital.

The state’s new Innovate Maryland initiative… will provide grants to university-based researchers developing technologies with commercial potential, supporting the creation of new innovation-based companies and jobs in the state.

Governor Martin O’Malley has also emphasized government reform as part of his job-creation strategy.

The state launched the Maryland Made Easy initiative to ease business interaction with government agencies… and reduce barriers for business.

Maryland is among the nation’s leading states for STEM job concentration.

Maryland is a center for high-tech business and research and development.