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NEWS
January 8, 1991
In the midst of the worst slowdown this country has seen in years, Maryland's economy is faring better than the nation as a whole. Statewide unemployment registered 5.3 percent in November compared with 5.8 percent nationwide. Retail sales rose 4.8 percent last year against a national increase of 3.7 percent. Even in construction, where Maryland's fortunes have declined markedly, the state is ahead of the national average.Yet even in Maryland, the situation is hardly glowing. Virtually every locality is attempting to cope with lower tax receipts; many are facing deficits and possible layoffs.
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NEWS
By Brian Feldman | August 5, 2010
To build on our existing economic strengths and usher in a new era of prosperity, Maryland must strengthen our already impressive roster of enterprises devoted to medical innovation. Medical research drives much of Maryland's economy, and the state can produce new jobs through efforts to upgrade its education system, seek federal help in focusing more state resources on innovation, and head to Washington to make the case for medical innovation. A new report from research firm Battelle and the Council for American Medical Innovation (CAMI)
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NEWS
November 26, 1993
Decidedly UpbeatMy recent testimony before the House Economic Matters Committee was mischaracterized as presenting "a gloomy assessment of Maryland's economy." Lest there be any doubt, I am decidedly upbeat about our medium and long-term prospects.My current position carries with it a responsibility to present informed, objective assessments of the state economy from time to time. The initial thrust of my presentation was to explain why it has been that Maryland has suffered the effects of the recent recession more severely than much of the rest of the nation.
NEWS
March 20, 2010
Former Gov. Robert L. Ehrlich Jr. gave a speech Tuesday decrying the ways he thinks the state government makes Maryland bad for business. Counterintuitive though it may seem, this might not be a sign that the Republican is gearing up to run for his old job. It's the nature of his criticism that gives me pause. I have generally been skeptical about whether Mr. Ehrlich would seek a rematch against Gov. Martin O'Malley, on the grounds that Mr. Ehrlich would not get in a race he wasn't pretty sure he could win. But polling has consistently shown Mr. O'Malley with a lead of 6 or more percentage points, no matter what was going on in the national political climate.
BUSINESS
By John E. Woodruff and John E. Woodruff,Staff Writer | December 7, 1993
To the thousands of Marylanders still out of work more than two years after the national recession officially ended, recovery is proving almost as excruciating as recession.Even as the state begins to turn around, virtually every week brings a new round of layoffs and fresh proof that employment, business activity and tax collections are turning upward later and more gradually in Maryland than in most of America.But to one small and coldly objective band of professionals, Maryland's economy, warts and all, doesn't look all that ugly.
NEWS
By Barry Rascovar | December 3, 1995
DECEMBER WON'T BE a kind month for Parris Glendening. The bad news starts December 12 when the Board of Revenue Estimates meets to set tax-receipt estimates for the coming year's budget. It isn't likely to be upbeat.Later in the month, legislative and business leaders meet to set a ceiling for overall state spending. That won't be very cheery, either.Maryland's economy has been under-performing even the state's own modest expectations.A year ago, the revenue board projected a 4 percent growth rate in sales-tax receipts for the fiscal year that started in July.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 12, 2003
The prospects for Maryland's economy this year can be boiled down to a single word - uncertainty. Most experts agree that the economy has emerged from recession and doesn't appear headed for a "double-dip," or sharp downturn. Indeed, they say, the year should be marked by modest growth. But unlike the late 1990s, when the biggest challenge for economists was predicting the speed at which the economy would grow, this year is riddled with wild cards that could stall the recovery and undo progress that has already been made: Most economists believe that war with Iraq is likely, and they worry about its duration.
NEWS
By Jon Morgan and Jon Morgan,Evening Sun Staff | December 7, 1990
Maryland's employment failed to grow for the fourth consecutive month in October, marking the longest slowdown in job creation since 1982 and providing the first inklings of a possible state-wide recession, according to a top state economist.However, the state's economic jitters are not as severe as those of the nation as a whole and do not mean a recession is inevitable, said Pradeep Ganguly, assistant director of research for the Maryland Department of Economic and Employment Development.
NEWS
By Catherine E. Pugh | May 16, 1991
The declining economy is certainly having an impact on area (( businesses. Just a few weeks ago, Maryland's largest bank announced layoffs of some 1,000 employees, while another local firm held counseling sessions for some 200 long-time employees who were unexpectedly terminated.today's depressed economy, many businesses are trying to figure out how to do more with less. Terms like streamlining, downsizing, cutting away the fat, trimming the budget, are being tossed around.Companies are not only scrambling to survive, but are trying to maintain market shares at the same time that they wrestle with the reality of the shrinking economy.
BUSINESS
By Kim Clark and Kim Clark,Staff Writer | March 13, 1993
Unemployment in Maryland rose slightly, to 6.4 percent, i January, according to figures released by the state yesterday, but economists said the bad news hadn't dimmed their expectations for an imminent rebound."
BUSINESS
By Jay Hancock and Jay Hancock,jay.hancock@baltsun.com | December 18, 2009
The worst might be over for Maryland's economy, but don't expect business as usual for a long time. That's the picture that emerges from interviews with executives and analysts with broad regional views. "There's a lot of sadness out there," says Fred Glose, chairman of Maryland Chemical Co., which distributes to a variety of industries from its warehouse in Baltimore's Fairfield section. "The money flow is the main stumbling block for our potential customers. People perhaps can't borrow money for whatever they want to do."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 12, 2003
The prospects for Maryland's economy this year can be boiled down to a single word - uncertainty. Most experts agree that the economy has emerged from recession and doesn't appear headed for a "double-dip," or sharp downturn. Indeed, they say, the year should be marked by modest growth. But unlike the late 1990s, when the biggest challenge for economists was predicting the speed at which the economy would grow, this year is riddled with wild cards that could stall the recovery and undo progress that has already been made: Most economists believe that war with Iraq is likely, and they worry about its duration.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | May 12, 2002
The nation's wobbly economy is showing signs of strength as the halfway point in the year approaches, but it will not mirror the late 1990s, which cruised at breakneck speed with a soaring stock market and jobs for everyone. While many economists agree that the country has emerged from recession, they expect slow growth for many more months. And they warn that those who are anticipating a quick return to the euphoric era of the last decade will be sorely disappointed. "You can kiss that era goodbye.
NEWS
By TaNoah Morgan and TaNoah Morgan,SUN STAFF | October 22, 2001
Maryland's economy will get worse, but the state will still fare better than the rest of the nation and will be "well-situated for the future," the secretary of the state's Department of Business and Economic Development, David S. Iannucci, told a group Howard County business leaders. At the Howard County Chamber of Commerce luncheon last week, Iannucci said the state's economy is doing well despite a national economic decline since the terrorist attacks. Maryland has suffered, with its tourism industry taking a particularly hard hit, but the state is recovering, Iannucci said.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | August 27, 1999
Maryland's economy grew at a 2.2 percent annual clip during the second quarter, a marked slowdown from the sizzling 6.6 percent first-quarter pace but still better than the national average of 1.8 percent, First Union Corp. economist Mark Vitner said yesterday. Maryland is "basically in the right industries, has the right mix" of businesses, said Vitner, who covers Maryland for First Union. "We don't have all the schools -- especially in the high-tech arena, like MIT or CalTech, though we do have Johns Hopkins, which is on the cutting-edge in the biotech arena.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | September 13, 1998
Don't expect the Maryland economy to provide a stock market-type roller-coaster ride.While the Dow Jones industrial average soars and plunges by hundreds of points, the state's economy continues its steady -- though flattening -- climb.With a solid second quarter behind it, the Maryland economy will cool for the rest of the year but not suffer a severe downturn from foreign currency crises in Asia and Russia, economists said."I think we'll probably end up slowing down a little bit just like the national economy," said Patrick Bradley, senior vice president of Mercantile-Safe Deposit & Trust Co."
NEWS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | January 2, 1992
Because of its diverse economy, Maryland fared better than other states during the recession and may lead the nation out of the doldrums, officials of the Maryland Department of Economic and Employment Development said today."
NEWS
March 13, 1996
WHEN YOU ARE at least $132 million in the hole, it's time to stop talk of cutting taxes and figure out how to balance the books. That's the situation confronting Gov. Parris N. Glendening and state lawmakers after receiving new and depressing revenue estimates. With the continuing softness in Maryland's economy, a prudent, cautious fiscal approach is imperative.Three months ago, the governor wisely held off on a tax-cut decision until mid-March, awaiting updated revenue numbers. But since December, bad new had been piled on top of bad news: The federal shutdowns that forced Maryland workers and contractors to dip into savings to survive; the January blizzard and other heavy snow storms that delivered a mighty wallop to the Maryland economy; the holddown in federal spending in Maryland while the federal budget deadlock persists, and bleak sales tax numbers as nervous consumers delayed new purchases.
NEWS
February 5, 1998
A column by Michael Olesker in Tuesday's editions of The Sun said that a study by the Regional Economic Studies Institute in Towson found that Maryland's economy was the fifth most prosperous in the country. In fact, the May 1997 study said that Maryland had the fifth highest per capita income in the country.Pub Date: 2/05/98
NEWS
January 22, 1998
The new year of 1998 finds us blessed. The state of the state is good. The state of the state is very good. We are enjoying the best economy in more than a decade. Our citizens enjoy enhanced security and feel a renewed sense of optimism.Thank you, Mr. President, Mr. Speaker and each member of this General Assembly for your hard work. Thank you also for your dedication to the citizens of Maryland.You can be rightfully proud of your efforts, and our efforts together, over the past three years.
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