Maryland

12. Maryland

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The Old Line State sets a bar for technology and innovation. But business and living costs are high.

Economic Profile

Governor: Larry Hogan, Republican

Population: 6,055,802

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

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