How is Maryland Manufacturing Faring?

Date: September 06, 2017

Related Content: News Economy Maryland

 

Maryland is holding steady with C and D grades, according to Conexus Indiana’s annual state-by-state manufacturing report card.

Conexus Indiana is a private sector initiative focused on the manufacturing and logistics sectors of the economy. Its manufacturing and logistics report card is produced each year with the help of the Center for Business and Economic Research. The report card ranks each state on manufacturing industry health, logistics industry health, human capital, worker benefit costs, tax climate, expected fiscal liability gap, global reach, sector diversification, and productivity and innovation—all issues of importance for manufacturing site selection professionals.

While Maryland’s current standings are fairly unimpressive, there is hope for a turnaround. Gov. Hogan has made a concerted effort to boost Maryland’s manufacturing strength. In April this year, Hogan signed The More Jobs for Marylanders Act of 2017 into law. This measure provides sales tax refunds, property tax credits, filing fee relief, and income tax credits for new manufacturers creating jobs in certain counties over the next decade. To be eligible for these benefits, manufacturers must offer programs that allow workers to improve their job skills; the new law includes scholarships for those workers.

The manufacturing sector added around 1,000 jobs in July, and Mike Galiazzo, president of the Regional Manufacturing Institute of Maryland, said the trend in Maryland manufacturing is on the uptick, reported The Baltimore Sun.

Related Content: News | Economy | Maryland

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