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NEWS
June 23, 2011
If Maryland was not adjacent to the federal government, which has overspent revenues by close to $5 trillion in the last five years, the Maryland economy would make Michigan's economy look good ("Jobs: a silver lining," June 21). Also money is not the answer to improving education. Getting parents of lower income kids involved is. But I understand that is not politically correct in some circles. Lyle Rescott, Marriottsville
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 28, 2014
Whenever Baltimore-area companies sell themselves to out-of-state firms, economists and local leaders alike bemoan the loss. Another headquarters gone. Fewer corporate decision-makers here. Possible job cuts. But Silicon Valley's deals for two Columbia firms - the planned Micros Systems acquisition, announced last week, and Sourcefire last year - strike local entrepreneurs in an entirely different way. They want more California tech giants doing business here, more billion-dollar-plus acquisitions.
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NEWS
By Liz Bowie | liz.bowie@baltsun.com | November 29, 2009
The Maryland economy would see an estimated $12 million in additional tax revenues if just half of those who dropped out in the Baltimore region had stayed in school and graduated with their class in June 2008, according to a study released recently by the Alliance for Excellent Education. The alliance's study showed that when students drop out, they hurt not only their future earning capacity but also the regional and national economy. The study found that more than half a million students in the 50 largest cities and surrounding areas dropped out during the 2007-2008 school year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 15, 2014
Maryland's economy has grown almost without fail in the last quarter-century, ticking up year after year. But not in 2013. That's according to early estimates from the U.S. Department of Commerce, which showed Maryland's gross domestic product stagnating last year - putting the state near the bottom of the national pack. Only the District of Columbia and Alaska fared worse. It's another indication that 2013 wasn't great for Maryland, where federal budget cuts had an outsized effect because of the state's big cluster of federal contractors and agencies.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 15, 2013
Maryland for years benefited from its close proximity to the nation's capital, but the mandatory federal spending cuts called sequestration will be a drag on the state's economy for the next couple of years, said the president of the Federal Reserve Bank of Richmond. "This retrenchment at the federal government level ... is tough this year. We are still finding out what the dimensions of this are," said Jeffrey Lacker, the Fed president. Despite the pain, the spending cuts are needed for the long-term fiscal health of the country, he added.
BUSINESS
By Frank D. Roylance and Frank D. Roylance,Evening Sun Staff | January 3, 1991
The state's third annual "state of the economy" report has found slowdowns in housing, retail sales and construction, and extremely slow growth in employment and personal income.But on the whole, says J. Randall Evans, Maryland's secretary of economic and employment development, the state's economy is out-performing the national averages, and Evans paints an optimistic picture for Maryland as the new year opens."It's clear the country is in a recession," Evans said yesterday, "and areas of Maryland's economy are in recession."
BUSINESS
By William Patalon III | November 14, 1999
AS A STATE, economically speaking, Maryland has come a long way since the recession of 1991.Its companies -- particularly its finance and manufacturing companies -- are leaner and better-focused than they were early in the decade, though it took painful layoffs and consolidations to get them there.Maryland added such crucial "New Economy" industries as telecommunications and biotechnology. Both are growing nicely.And it's even made some progress shedding its reputation as a state that's hostile to business.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | November 14, 2003
More Maryland firms saw revenue and employment growth in the third quarter than did in the previous three months, according to a University of Baltimore report, and analysts said the report offers hope for a stronger Maryland economy in the coming year. "More firms are expecting to grow than are currently growing, so we can expect performance to continue to improve," said Richard P. Clinch, director of economic research at the university's Jacob France Institute. The Maryland Business Climate Survey, which regularly polls 250 local companies in key sectors of the state's economy, has been conducted quarterly since 1995.
BUSINESS
By John H. Gormley Jr. and John H. Gormley Jr.,Staff Writer | April 16, 1992
It might come as something of a surprise to the thousands of Marylanders who lost their jobs during the current recession, but the state's economy is the second strongest in the nation,according to an annual "report card" from the Corporation for Enterprise Development.The ratings, released today, cheered state economic development officials. "We're gratified for the way they sized us up," said Mark Wasserman, secretary of the state's Department of Economic and Employment Development.However, some academics and economic development professionals question the rosy picture of the Maryland economy painted by the report.
NEWS
By John E. Woodruff and John E. Woodruff,Bloomberg Business NewsStaff Writer | December 15, 1993
Hundreds of export doors will eventually open for some of the fastest-growing parts of Maryland's economy with the sweeping accord under the General Agreement on Tariffs and Trade.No one is willing to risk concrete estimates of what the state stands to gain, not until the fine print of the trade accord is read. Nonetheless, virtually everyone agrees that the state has a big stake in both the generalities and the details of the GATT negotiations."Maryland has always ranked in the lower half of the states in the value of its exports, but in the past few years its exports have grown by more than 50 percent, to about $5 billion a year," said James L. Hughes, director of the World Trade Center Institute in Baltimore.
NEWS
June 12, 2014
The latest report from the U.S. Department of Commerce reveals that Maryland's gross domestic product or GDP, a primary measure of the economy's health, was unchanged in 2013. That zero growth rate caused Maryland to be ranked second to last among all 50 states for GDP growth last year, an abysmal showing by any standard. The news will likely be cheered by only one group, the Republicans running for state and local office who have been lambasting Maryland's allegedly unfriendly business climate and tax increases since the last economic recession for driving everyone from small business owners to retirees away.
NEWS
By Thomas V. Mike Miller and Michael E. Busch | March 24, 2014
Earlier this General Assembly session, we joined together to announce a transformational economic development commission, a part of a joint economic development agenda that builds on the strategic investments Gov. Martin O'Malley and the legislature have made over the past seven years. While many other states made drastic cuts during the economic recession, Governor O'Malley made the right decision to prioritize investments in our future workforce. Together, we increased funding for K-12 education throughout the recession; we froze and limited tuition growth over the past 6 years, leading to one of the smallest increases in tuition rates in the U.S.; and we targeted investments to burgeoning sectors of the economy, including biotechnology, research and development and nanotechnology in the form of tax credits and investment funds.
NEWS
March 12, 2014
Ol' Andy Harris is at it again. The last I heard from him when he was my representative was, "When does my health care start?" as he headed for Congress. Since then I hear that he is spotted occasionally glad-handing people in stores and restaurants on the Eastern Shore. I hear very little about what he is doing to expand the Maryland economy or ensuring that tax money we pay to the federal government is returned to us in terms of our fair share of goods and services. Other representatives across the country seem to be hard at work, working for the interests of their states.
NEWS
By Drew Greenblatt | January 27, 2014
Earlier this month, the powerful Senate Finance Committee met to consider crucial legislation that would grant the president Trade Promotion Authority (TPA), which would make it easier for him to negotiate deals with other countries. Maryland's own Sen. Ben Cardin, who sits on that committee, will help decide whether the United States continues to lead the world in promoting jobs and market-opening trade deals or whether it falls behind. TPA is a common sense procedural agreement between the legislative and executive branches of government, and every president since Franklin Roosevelt has had it, according to the National Association of Manufacturers, where I'm an executive board member.
NEWS
January 13, 2014
Here we go again. Yet another letter to the editor ("Illegal immigrants steal American jobs," Jan. 3) blaming undocumented immigrants for all of Maryland's employment and economic problems. And, like all such letters, its argument instantly breaks up once it makes contact with the facts. Contrary to popular belief, many "illegal" immigrants entered the country lawfully and only fell out of lawful status because of the complexity and expense of trying to navigate an immigration system that is almost designed not to work for anyone.
NEWS
August 21, 2013
As I read The Sun's editorial, "One week and counting" (Aug. 19), I was disappointed with how disconnected it seemed with the conversations I've had with countless families and small business owners about a post-Labor Day start to the public school calendar. While the editorial mocked a serious policy discussion that would simultaneously help families, small businesses and the Maryland economy, a poll on The Sun's own website found that 88 percent of readers support a post-Labor Day start to the public school calendar.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | June 11, 2002
Maryland's economy grew slightly less than the national average in 2000 as states in the West and Northeast posted the biggest gains, according to a Commerce Department report released yesterday. Maryland recorded a 4.2 percent increase from 1999 in its gross state product, a key indicator of economic health. The national average was a 4.5 percent increase. "Maryland performed well, as it was pretty close to the national average," said Anirban Basu, director of applied economics at RESI Research & Consulting, a Towson University think tank.
NEWS
By Kelly Brewington and Kelly Brewington,SUN STAFF | April 23, 2005
Six and a half years ago, the African-Americans in Maryland who thought the economy was improving outnumbered by 5 to 1 those who said the economy was worsening. Today, the numbers are almost reversed, with blacks who are pessimistic outnumbering optimistic ones more than 3 to 1. Experts say the shift in The Sun Poll of Maryland voters might have relatively little to do with the state's economic health - possibly relating more to state and national politics and whether African-Americans who tend to vote Democratic have confidence in a Republican-dominated government.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 15, 2013
Maryland for years benefited from its close proximity to the nation's capital, but the mandatory federal spending cuts called sequestration will be a drag on the state's economy for the next couple of years, said the president of the Federal Reserve Bank of Richmond. "This retrenchment at the federal government level ... is tough this year. We are still finding out what the dimensions of this are," said Jeffrey Lacker, the Fed president. Despite the pain, the spending cuts are needed for the long-term fiscal health of the country, he added.
NEWS
By Pete Horrigan | March 13, 2013
Once again, Virginia has beaten Maryland to the punch regarding taxes on business and consumers. Virginia eliminated its gas tax completely and replaced it with a 3.5 percent sales tax on the wholesale price of gasoline. Gov. Martin O'Malley's new tax increase proposal would reduce the gas tax rate 5 cents but add a sales tax to the retail price of gasoline and diesel, resulting in a 63 percent increase in the tax on gas and a 90 percent increase in the diesel tax. Only in Maryland would we claim to "reduce" taxes in a way that results in increases - and leaves Maryland retailers at a devastating competitive disadvantage.
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