Commentary: Maryland Must Reverse its Competitive Decline

Maryland’s alarming slide from 22nd to 31st place in CNBC’s 2024 Top States for Business rankings is more than a statistic — it’s a glaring warning sign about our state’s economic competitiveness. This significant drop demands immediate attention and decisive action from policymakers, business leaders and all stakeholders invested in Maryland’s economic future.

Gov. Wes Moore has consistently emphasized the importance of making Maryland more competitive, focusing on creating work, wages and wealth for all Marylanders. Our current ranking not only undermines these goals but also threatens our state’s economic future. To realize the governor’s vision of a thriving, inclusive economy, we must address the underlying issues that have led to this decline.

Our fall is particularly concerning in three key areas: business friendliness (from 24th to 37th), infrastructure (from 15th to 37th) and a stagnant workforce ranking (28th). Most alarmingly, Maryland ranks 47th for the cost of doing business, making it the fourth-most-expensive state for businesses to operate in.

Read President & CEO Mary D. Kane's full commentary, which was published in The Baltimore Sun on Sept. 12, 2024.