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Window washers, St. Agnes Hospital, Catonsville, Maryland, April 2011. Photo by Diane F. Evartt.
In 2017, Maryland ranked fifth nationally in concentration of technology industry jobs, which constituted 9.5% of the total workforce. In Maryland, the average annual wage for employees in this field is $109,964. Some 14,840 tech businesses were located in Maryland as of 2017.
In 2016, Maryland ranked first in Technology and Science Workforce, as well as in Technology Concentration and Dynamism (Milken Institute index). Human capital investment is determined by creating a population average of SAT and ACT test scores, state education appropriations and spending, as well as academic degrees, particularly in the fields of engineering and sciences.
Approximately 81.5% of those working in Maryland are employed by the private sector, while federal, State, county and municipal governments employ 18.5% of the workforce.
Under Armour headquarters, Baltimore, Maryland, April 2015. Photo by Sarah A. Hanks.
Financial services is a growing sector in the Maryland economy. Brokerage firms, insurers, and other financial companies maintain their home operations or a significant presence in the State.
In 2016, government employees in Maryland numbered 486,101. Of these, 145,800 were federal workers, 97,937 worked for State government, and 242,364 were employed by county and municipal governments.
EMPLOYERS
In 2017, the University System of Maryland was the largest private employer in Maryland. The System employs 39,900 faculty and staff. Other leading employers in the State include The Johns Hopkins University; University of Maryland Medical System; Johns Hopkins Hospital and Health System; MedStar Health; and Marriott International.
Domino Sugar plant and cargo ship, Baltimore, Maryland, April 2015. Photo by Sarah A. Hanks.
In 2016, Maryland had more than 167,939 businesses that employed over 2.1 million workers with an annual payroll of over $119 billion. Corporate headquarters of well-known businesses, such as Black & Decker, McCormick, Lockheed Martin, Under Armour, Choice Hotels, DAP, and Goetze's Candy are located in Maryland.
DAP world headquarters, Baltimore, Maryland, May 2015. Photo by Sarah A. Hanks.
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