Study On Maryland’s Economy May Not Reflect Eastern Shore
MARYLAND. – Number 9. That’s what Maryland’s economy ranked as the least hit by the pandemic in a recent WalletHub study.
Some tell 47ABC that may be the case those across the bridge, but not for those on the Eastern shore. “Lets not forget the rural areas of Maryland, which are heavily dependent on small business and agriculture are always the last to recover from these things without that federal money in the DC suburbs, Maryland would not be ranked #9 right now. It just would not be the case,” said Salisbury Chamber Of Commerce Bill Chambers.
The Salisbury Area Chamber of Commerce says the Eastern Shore got hit hard and they need more government support to recover and attract new business to the area. “It would help if the general assembly would decrease in the corporate tax rate. We have one of the highest tax rates among our competitive states. Delaware, Virginia, West Virginia, Pennsylvania,” said Chambers.
One local business tells me that times have been tough but creating different programs like a COVID task force, managing expenses, and keeping staff motivated is what kept their ball rolling. “We had various provider relief payroll/protection programs that would give us peace of mind that we were able to continue to function and not have to worry ultimately how we were going to pay our bills,” said Apple Discount Store’s Zack Sherr. “It wasn’t just a health crisis, it was an economic crisis which really impacted us more than any of us ever thought possible.”
On the flip side, another local business owner tells me that he’s saw more profit last year than in recent years. “I actually did, in my Ocean City location, I earned 3% more in general revenue in 2020 than I did in 2019,” said Rosenfeld Jewish Delicatessen Owner Warren Rossenfeld.
Yet, he says that recovery doesn’t look just one way. “So I think, yes Maryland did well in relation to other states, but it really depended on what industry you were in and what concept you had within that industry because the recovery is uneven and has been uneven for all business owners,” said Rossenfeld.
The Salisbury Chamber of Commerce says it could be a record year for tourism, which could be an encouraging sign to put the shore back on a level playing ground.