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Concept
Business in Maryland
Résumé
Maryland's leading industries by employment are health care and social assistance, state and local government, retail trade, and professional and technical services. Maryland's Gross State Product (GSP) was 52.1 billion and accounted for 18 percent of Maryland's GSP in 2009. Federal government, including military and civilian, accounted for slightly more than half at just over 25 billion. The Fort George G. Meade military installation, which includes employees of the National Security Agency, is the state's biggest employer at 44,540. The largest private sector industry is real estate with 48.4 billion, or 17 percent of economic activity. Large private employers in Maryland include Black & Decker, Legg Mason, Lockheed Martin, Marriott International, ZeniMax Media, McCormick & Company, Perdue Farms, General Motors, IBM, Northrop Grumman, and Verizon.
The state has more than 50 federal agencies and research facilities, including the National Institutes of Health, Food and Drug Administration, National Security Agency, and the National Institute of Standards and Technology. Maryland also has several universities, including the University System of Maryland and Johns Hopkins University, which receives more research dollars than any university in the country.
Maryland ranked second in the Milken Institute’s State Technology and Science Index, which ranks states on their ability to foster and sustain a technology sector. In the report, Maryland was noted for its human capital investment, research and development inputs, technology, and science workforce, and technology concentration and dynamism. The state also has a high concentration of managers, professionals and college-educated residents working in knowledge jobs, and an infrastructure to support technological innovation, according to the 2010 State New Economy Index.
Organizations in Maryland received 525 million in research and development (R&D) awards from the National Institutes of Health and $11.
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