Chamber Chat: Maryland Ranks 42nd for Economic Outlook

SALISBURY, Md. – In this week’s Chamber Chat, WMDT’s John Trout and Salisbury Area Chamber of Commerce President Bill Chambers discuss the annual Rich States Poor States report, which has recently ranked Maryland as 42nd in the nation for economic outlook.

Bill told WMDT that the ranking is an indicator that this state is not the best to open to relocate a business in. Further, Maryland ranked 46th in regards to tax burden, which is significantly lower in neighboring states.

“Pennsylvania, Virginia and West Virginia, have a different economic outlook. And that sort of puts Maryland in a competitive disadvantage,” Bill said. “We’ve lost that edge based on policy and tax decisions made in Annapolis.”

Further, domestic migration is hitting Maryland hard, with more residents leaving than coming in. Figures show that the state has been losing over 25,000 residents a year since 2022.

“Most of the people that are interviewed as they’re exiting are talking about the fact it’s hard to open a business here,” Bill explained. “It’s hard with the cost of living in Maryland to raise a family. And this is not a friendly state for retirees, as we all know.”

If you have business news you’d like to share, email us at newsroom@wmdt.com.