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Maryland

Overview

Maryland is a Mid-Atlantic state adjacent to Washington, DC and Virginia. Even though it is the eighth smallest state in the country, it maintains the 19th most populated state status, with 6.15 million residents. Annapolis is its capital and Baltimore is the largest city in the state. Maryland's GDP reached $524,400,000,000.

Its largest industries by economic output are government, professional and business services, and real estate, rental, and leasing, while the state targets strategic growth in aerospace and defense, biohealth, cybersecurity, logistics, and energy. Maryland's active military installations and defense ecosystem generate a massive economic impact of over $61 billion. The state boasts a dense aerospace and defense footprint, where over 12,400 aerospace and defense businesses operate, heavily anchored by premier federal research facilities like NASA's Goddard Space Flight Center and the Naval Air Systems Command. Maryland is also home to a highly concentrated tech and sustainability network, including nearly 5,500 advanced manufacturing businesses and a premier ecosystem of cybersecurity and life science innovators.

The state and Qatar are actively accelerating their economic ties, highlighted by a formal Maryland Department of Commerce trade mission to Doha to secure Qatari venture capital and expand partnerships in defense industries and innovation ecosystems. Beyond direct corporate investment, a network of 135 distinct Maryland-based firms actively export to Qatar, managing an exchange that includes $4 million in academic and research funding.

Maryland's Comptroller and Department of Commerce require that every corporation having income allocable within the state must file a corporate income tax return. The corporate income tax rate remains a flat 8.25%. Maryland operates four primary foreign-trade zones designated to reduce custom burdens, located at the Port of Baltimore (FTZ 74), BWI Marshall Airport (FTZ 73), Prince George's County (FTZ 63) in Largo, and Washington County (FTZ 255) in the Hagerstown region.