Maryland is the second-worst state in America in which to start a business, a study by WalletHub found. Rhode Island is rated the worst of all. The latest ignoble recognition for the Old Line State is compounded by other recent rankings showing Maryland is #46 out of 50 in tax competitiveness, according to the Tax Foundation, and is way down at #36 on the list of best states to retire in - also compiled by WalletHub.
Montgomery County has the highest overall tax and fee burden in the region. What else makes Maryland a terrible place to start a business? A poor business environment, WalletHub says. That includes measurements of current small business growth statistics, job growth, variety of industries, startups per capita, five-year business survival rate, share of fast-growing firms, and the entrepreneurship index.
Another criteria examined was the cost of doing business. Beyond high County and State taxes, that takes into account the cost of living, the cost of office space, labor costs, employer-based health insurance costs, and the corporate tax rate. Not surprisingly, Maryland scores poorly across the board on business costs.
Also considered were access to capital and a skilled workforce. This includes the amount of venture capital being invested in Maryland businesses, rankings of colleges and universities in the state, and growth of the working age population.
Which states are the best to start a business in? According to WalletHub, Florida, Utah, Texas, Oklahoma, Idaho, Mississippi, Georgia, Indiana, Nevada, and California. Better start voting for better-qualified elected officials, or rent a moving truck for your business to relocate to greener pastures.
Imagine if they had factored in the exorbitant cost of energy in Maryland! We might have dropped to dead last. As it is, we're in real trouble, folks. How many more miles can Montgomery County and Maryland go down the road with tape over the Check Engine light on the economic development dashboard? Heckuva job, Brownie!
One of the most glaring examples of this mentality was when Obama said the quiet part out loud. "You didn't start that business, the government did". That's a paraphrase but shows you the stark difference between Blue and Red states and areas. It's that glaring. Tax, spend, regulate, ban. One of the smartest things I ever saw a governor do was when then governor of Texas, Rick Perry, cold -called Maryland businesses encouraging them to come to Texas. Lastly, our former governor, Bob Ehrlich, said Maryland has a sign out front that says Maryland is Closed for Business. Thanks voters!
ReplyDeleteYou MAGAt heads are really an embarrassment with your twisting "paraphrase?" of actual facts. What President Obama was referencing in a speech was the importance of public infrastructure (roads, bridges), education, and community support in helping businesses succeed. Even then your ilk turned weaponized that segment of a full speech, to vilify what he was referring to. BE BEST, but that is apparently beyond you apparently.
DeleteWe're number two! We're number two!
ReplyDelete"In your face, Flanders!" (h/t Homer Simpson)
Obama did not say, "the government did."
ReplyDeleteWhat he actually said, while campaigning in Roanoake in July 2012, was:
“[I]f you've been successful, you didn't get there on your own... If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you've got a business—you didn't build that. Somebody else made that happen.”
He use poor phrasing then. O could have said "The taxpayers and local gov did those things and helped you in your hard work". Nope. You didn't build that so we get to steal it.
Delete@4:15 - Here we go again; but, but, but..
DeleteYou're leaving out, then, that it was, at least, interpreted as a 'dog whistle' that a smaller segment is owed new and specific support in some fashion. This all came about at the height of reparations talk, if you remember.
DeleteDemocrats are driving this bus and despite history, will double down on stupid. Mandani isn't changing course despite inheriting a huge deficit caused by the last democrat in charge so why should we expect different? All we know for sure is orange man bad so let's tank the state because Trump. That will show him!
ReplyDeleteWTF? Is Mandani now running for MD Gov. BREAKING NEWS! Wait, I think I hear something familiar again; but, but, but....
Delete7:29 is the reason why democrats are in charge as comprehension is limited. Explanations are possible but in one ear and out the other not hitting anything in between.
DeleteHahaha. I’m originally from Mississippi before I moved to Maryland so I can safely say this rankling is BS. There is a huge different between STARTING a business and running a business. The skilled workforce in Mississippi is terrible. If you open a small business there, good luck finding workers. If you do, they won’t show up half the time or they’ll show up late. Even fast food restaurants there will open late because the people who were supposed to open the store never showed up. This ranking is garbage.
ReplyDelete9:59: States have differing strengths that can make them a good place to start a business. Mississippi has lower taxes and is a right-to-work state.
Delete9:59, how far off do you think it is? Where do you think MD would rank? Is that good enough?
Delete9:21 - Sure, the one party cabal in this county and state, are doing so well. Never mind. Obama did in fact mean what he said. Sorry.
ReplyDeleteToo bad 9:59 never actually opened a business. The cost of doing business in MD is guided by mandated regulatory processes that raise the amount needed to just to open the front doors by over 30% in comparison to a state like NC/SC/FL. Then you have labor costs which are significantly higher due to arbitrary decrees by government bureaucrats who like 9:59 have never run a business. We moved our office out of Bethesda at the end of FY2025 and haven't looked back.
ReplyDeleteCriteria (first line, third paragraph) is the plural form. The singular is criterion. Second declension neuter noun in Greek. Just fyi.
ReplyDeleteWow, consider voting differently as the focus is in the wrong place.
DeleteMoribund.
ReplyDeleteWho're you calling neuter?
ReplyDeleteI own an IT business in the County. The poor ranking is accurate. Look at most new legislation passed by the County lately -- they all make things worse for business not better. When was the last time the Council passed anything pro-business?
ReplyDeleteThe state is the same way too, now we have a 3% digital services tax. Our pricing doesn't look as good compared to our competitors miles away in VA.
Look at the latest debate on datacenters. There is strong opposition to turning the Dickerson incinerator, in an area already zoned for industrial, into a datacenter. They claim it will use too much power, but if they don't build it there, it will be built across the river in VA, and guess what -- we're all on the same power grid (known as PJM), so we'll be affected by rate increases anyway, but not get any of the tax money a datacenter generates.
There is one positive note though -- the State's tax filing system, Maryland Business Express, is pretty easy to use compared to other states. They make it really easy to take your money!
VA? Hah!
DeleteWell, on the plus side, (if there can be one under leftist rule), VA is on track to implode their economy so there is that.
Delete2:02 For our DC neighbors it brings to mind "Stuck in the Middle With You," surrounded by the pathetic bolus (bolii?) of concentrated liberalism ruining their neighbors, DC' Bowser seeming reticence is only because Trump can replace the whole lot of DC mismanagement with a snap of his fingers. Luckily, VA's tax implosion and Moore's big mouth are good fuel for the GOP's Midterm turn out. Mamdani will help out, too.
DeleteAnd please put democrats like AOC & Omar, (frankly any leftist), on TV as much as possible. After seeing her interview in Munich, one has to wonder if it hurts to be that dumb.
Delete