Economic Development
Maryland

A Major Hub for Science, Technology and Federally Funded Research

Maryland’s economy is powered by science and technology, federally funded research, federal agencies and laboratories, and major research universities, like Johns Hopkins and the University of Maryland. It has one the highest concentrations of Ph.D. scientists, computer scientists and aerospace engineers in the nation. Biopharm and aerospace are prosperous industries in the state. At the same time, Maryland supports agriculture and food and beverage production, advanced manufacturing, and a thriving transportation and logistics industry.

74

74

federal laboratories operate in Maryland, twice as many as any other state

$83,242

$83,242

Maryland’s median income, the highest of any state

594

594

people per square mile making the state the fifth-most densely populated state

Major Industries in Maryland

Biopharm

Aerospace

Agribusiness

Distribution and Logistics

Biopharm

Maryland was first to map the human genome; first to develop a rapid test for Ebola; and first to create an FDA-approved blood test for colon cancer. With the presence of the National Institutes of Health (NIH), Johns Hopkins University and the University of Maryland, the state is a world-class center for biopharmaceutical research. Maryland is an international leader in adult stem cell production and vaccine research, with additional strengths in biodefense, nutraceuticals, genomics, therapeutics, medical devices, and regenerative medicine and health IT.

 

  • One of the nation’s largest biopharm clusters, with 2,700 life science companies and 500 biotech firms.
  • Highest concentration among states in employed Ph.D. scientists.

Aerospace

Maryland is a launching pad for innovations in space exploration, environmental science and severe-weather forecasting, as well as Department of Defense-related fields such as biodefense, cybersecurity, avionics, informatics, UAS (Unmanned Aircraft Systems), and weapons and ordnance testing. Fifteen of the top 20 aerospace and defense companies are located in Maryland. With 350 research centers, 20 military facilities and over 60 federal agencies, Maryland exceeds $15 billion in federal R&D contracts each year.

 

  • 1 among states in the concentration of computer scientists.
  • 4 among states in the concentration of aerospace engineers.

Agribusiness

With a temperate climate and especially fertile farmland, Maryland produces a broad array of agricultural products through family farms and large-scale farming and aquaculture. The state also generates forest products – wood for homebuilding, furniture and paper – as well as millions of pounds of seafood from Chesapeake Bay fisheries. Agribusiness is thriving. Maryland is home to the nation’s largest spice producer, McCormick. The craft beverage industry has tripled in size in recent years, now with 168 businesses.

 

  • 3 among states in poultry production.
  • The Chesapeake Bay produces 500 million pounds of seafood per year.

Distribution and Logistics

With a mid-Atlantic coastal location, access to international markets and a sophisticated transportation infrastructure, Maryland is a nexus of distribution-related operations. Major distribution companies are headquartered in Maryland, generating 9,135 jobs and $22 billion in GSP (Gross State Product). Maryland has five major interstate highways, two Class 1 railroads and access to four international airports. The Port of Baltimore ranks No. 1 in the nation in handling cars and trucks and in roll-on/roll-off cargo. It is one of only four East Coast ports that can handle the largest container ships in the world.

  • Fifth largest concentration of logisticians in the nation.
  • University of Maryland College Park is ranked 13th for its supply chain management/logistics’ program.

plane FirstEnergy Territory plane Airports train Rail boat Ports
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Advanced in Aerospace, Biopharm and Logistics

Maryland ranks third in the nation in educational attainment, with an industry focus on life sciences and aerospace. The state is also very strong in transportation and logistics. The Port of Baltimore is the top port in the nation for autos and light trucks.
major airports 1
intermodal terminals 25
major ports 7
miles of rail 762

Our Maryland Team

Lucas I. Cade
Senior Economic Development Advisor
301-582-5235
lcade@firstenergycorp.com
Patrick J. Kelly
Director
Economic Development
330-384-5822
kellyp@firstenergycorp.com