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Economic Pulse - An Overview of Maryland's Economic Indicators

Jobs
MD Inc. 5000 firms create 20K jobs
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Rankings
Third in biotech strength
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Sectors
State adds 1,200 construction jobs
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Employment Trends

 

Obama’s Economic Plan Could Add 20K MD Jobs
President Obama recently addressed the nation to promote the American Jobs Act, a plan to spur job growth. Consolidated White House and DBED estimates indicate that the teacher, police, firefighter and construction portions of this plan alone would create, support or preserve almost 20,000 Maryland jobs, including roughly 13,700 construction jobs and 6,000 teacher or first responder jobs [Table 1]. The plan would also give employers hiring the long-term unemployed a $4,000 tax credit per hire and extend expiring federal unemployment benefits.

Over ten years, the plan would combine $250 billion in temporary tax cuts with $200 billion in targeted spending and both the employee and employer share of Social Security taxes would be cut by in half. The federal government would provide $35 billion in state aid to prevent teacher and emergency personnel layoffs and $95 billion to support construction projects. Note: DBED jobs estimates do not count the economic impact of the tax relief or unemployment insurance proposals.

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Featured Event

Economic Outlook Conference
Nov. 9 | Towson University

Hear the economic forecast for the region presented by Towson University’s Dr. Daraius Irani including discussion on the impact of the 2010 Census on Maryland's economy. Learn more.

Secondary event
TechCouncil of MD CyberMaryland Forum
Sept. 28 | Hanover, MD
The forum is open to anyone with an interest in the cyber security industry. The content will cover the latest developments in the state’s initiative to be the “Epicenter for Information Security and Innovation” and other hot topics in the cyber security industry. Learn more.
Secondary event
2nd Annual BRAC, Cyber, & Ft. Meade Summit
Sept. 29 | Hyatt Regency

We are proud to bring Baltimore our Second Annual BRAC, Cyber, and Ft. Meade Summit! Join us to hear our experts discuss where BRAC stands, what’s hot with cyber, and what’s going on at Ft. Meade. Learn more.
Tip of the month
Bonus Bulletins
+ Read and subscribe to our MDbiz Media blog
+ Expanding MD businesses created 140 jobs, invested $67M in August
+ BWI posts its best month ever
+ Port of Baltimore tops for auto cargo in first half of 2011
+ Maryland housing sales up again in August
+ Takoma Park coffee company is among first ‘benefit corporations’ in state

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