2018 Maryland Business Climate Survey - Annual Results
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Introduction and Executive Summary
The Maryland Public Policy Institute and the University of Baltimore’s Jacob France Institute have partnered to restart the Maryland Business Climate Survey, which collects information from businesses in leading sectors of the state’s economy on the overall direction of Maryland’s economy and business perceptions of the state’s business climate.
Business Performance and Expectations
To assess the current and expected near-term performance of the Maryland economy, businesses were surveyed on their performance over the past year and expected performance over the coming year in terms of revenues, employment, and the markets they serve.
Maryland's Overall Business Climate
Companies were surveyed on their perception of the overall business climate in Maryland, the advantages and disadvantages associated with doing business in Maryland, the steps that they believe are necessary to improve the State’s business climate, and their likelihood of remaining in Maryland.
Maryland's Business Environment
Overall, Maryland businesses have a less favorable view of Maryland’s tax and regulatory climate than its infrastructure and labor market assets.
Maryland's Labor Market and Labor Force
With the national economic recovery poised to become the longest on record, and Maryland’s unemployment rate at 4 percent, finding the workers needed to support and grow operations has become increasingly difficult for businesses.
Firm Demographics
The Maryland Business Climate Survey focuses on firms in the “export base” of the state’s economy that sell or compete for the sale of their products/services regionally, nationally, or internationally.
Appendix A - Description of Businesses Served