The Old Line State sets a bar for technology and innovation. But business and living costs are high.
Governor: Larry Hogan, Republican
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GDP growth (Q1 2021): 6.1%
Unemployment rate (May 2021): 6.1%
Top corporate tax rate: 8.25%
Top individual income tax rate: 5.75%
Gasoline tax: 36.30 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