From Tech to Tourism: Maryland’s Diverse Industry Growth
Maryland is at the center of many historical events in the US. Not only did it give up land for the creation of Washington D.C., but it was also one of the 13 original colonies.
Nicknamed Little America for its countless natural terrains like sandy shores, rivers and mountains, Maryland is a beautiful place. It is diverse and acts as a hub for many fast-growing industries.
In this article, we’ll outline some of the most important industries in the Old Line State. Let’s get started.
Technology
Maryland is often described as America’s cybersecurity capital. Here’s why. Both the National Security Agency (NSA) and the US Cyber-Command have their headquarters in Maryland.
These two agencies, in addition to other cybersecurity companies, ensure that MD has the highest number of cybersecurity employees in the country.
Beyond cybersecurity, the Old Line State has over 12,000 tech businesses that contribute $45 billion to the state economy. Yes, Silicon Valley is home to the most famous tech businesses in the world.
However, Maryland has thousands of small tech businesses that serve the state, the entire country and the world. Advantech is a case in point. This IT enterprise provides cloud computing and cybersecurity services to millions of people.
Lockheed Martin is yet another famous tech brand headquartered in the Old Line State. The company offers engineering, logistical and information systems services. It also specializes in air defense and space systems.
Presently, Little America is working on laws that can boost its tech industry. For example, some legislators are seeking to amend Maryland gambling laws to permit online casino games like slots, roulette and blackjack.
Online gambling is a $100 billion industry. Yet, the Old Line State generates less than 1% of this money. By legalizing iGaming, MD will stand a chance to double or triple its income from the gambling industry.
Tourism
Maryland’s diverse landscape makes it one of the top destinations for tourists in the country. Last year, more than 43 million people visited Maryland, leaving behind $20 billion in spent money.
What attracts tourists to Maryland? The Deep Creek Lake, Chesapeake Bay, Swallow Falls State Park and Ocean City are just but a few examples. Each tourism attraction site has a trove of activities for families seeking entertainment.
For example, Ocean City offers a 10-mile sandy beach for sunbathing. It also features marine activities like surfing, swimming and snorkeling. Baltimore, while it’s more famous for its manufacturing plants, offers plenty of action to tourists.
For example, you can visit the National Aquarium, which features 17000 specials of marine animals. If you want to get a better view of Baltimore, visit Top of the World, an observational desk located in the 27th floor of the building.
Mining
Mining is a major source of revenue for Maryland. The state has 282 mines that extract vital minerals like copper, silver, magnesium, silica, titanium, iron and chromium.
There are more mines that special in coal mining. Maryland produces 9% of its energy through coal mining. However, officials are working to bring this number down in favor of renewable sources of energy.
Compared to other states, MD is a minor producer of minerals. Arizona, which produces $10 billion worth of minerals every year, is the country’s biggest mineral producer. Nevada ranks second, while Texas is third.
Biotechnology
Despite its relatively small size, Maryland is home to the fourth highest number of biotechnology companies. The explanation is that MD has a rich and diverse landscape and that it is very close to the capital.
MD’s proximity to D.C. makes it attractive to some of the country’s largest biotechnology agencies. We’re talking about the Food and Drug Administration, Emergent Bio Solutions and John Hopkins University.
Besides government agencies, Maryland hosts dozens of private biotechnology firms. Think of Sensei Bio, a company that creates treatment that can improve cancer recovery.
Then there’s PathoVax, which creates vaccines aimed at helping treat the Human Papillomavirus (HPV). Other important biotech firms in the state include Cogentis Therapeutics, Velsera and Cellective Therapeutics.
John Hopkins University plays a vital role in attracting the nation’s most talented researchers in Maryland. Many of the biotech companies founded in the state feature researchers who graduated from Johns Hopkins University.
Agriculture and Fishing
Agriculture is Maryland’s largest commercial industry, contributing $17 billion worth of annual revenues. Maryland’s 12,000 farmers use two million acres of land to produce a wide range of food products, from poultry and seafood to milk and beef.
Farmers in the state are lucky to have dozens of research firms that help utilize their land in the best possible way. We’re talking about pest management, water conservation and leveraging technology to maximize production.
Agriculture is one of the state’s biggest employers, accounting for 350,000 jobs in the state. Field crops account for 66.5% of agricultural activity in MD, producing about $1 billion in annual revenues.
Fishing is another subsector of agriculture with a huge presence in the state. It contributes $600 million to the state budget. The Old Line State is home to a thriving school of blue crabs, striped bass and eastern oysters.
Manufacturing
Manufacturing is a major revenue generator in Maryland, accounting for 6% of state annual income. According to the Maryland Manufacturing Extension Partnership, the state has 4200 manufacturers that employ nearly half a million people.
If you’re seeking employment opportunities in Maryland, the manufacturing sector has the highest number of new job openings. Companies like Daystar Manufacturing, BHS International, Total Plastics and Gizmatic LLC employ thousands of people every year.
Manufacturing companies in the state are diverse. Some produce aerospace and defense parts. Others deal with plastics, tablets, lotions, and steel.
Conclusion
There you have it—the biggest commercial industries in Maryland. Agriculture, manufacturing and tourism are the state’s most important revenue generators. Tourism, in particular, attracts 40 million people to the state and employs half a million people.
Surprisingly, cybersecurity and biotechnology are important moneymakers in Maryland. They’re also important employers, accounting for some half a million jobs in the state.
