Once upon a time, in the state of Maryland, there was a tale of uneven economic growth. Governor Wes Moore proudly proclaimed the state's economic progress, but the data revealed a different story. While Maryland as a whole ranked 27th in economic momentum, with positive employment and personal income growth, it lagged behind its neighboring states and the District of Columbia. The economy heavily relied on the education, federal government, and medical sectors, which were concentrated in central Maryland. The eastern and western regions of the state were left behind, lacking economic diversification and experiencing slower growth. The population decline in recent years further impacted these regions' economic prospects.
Meanwhile, in Brunswick County, a different narrative unfolded. This coastal county experienced record economic growth fueled by migration. Between 2020 and 2022, Brunswick County grew at a staggering rate of 12%, outpacing every other county in the state. The influx of residents from other counties in the state and the northeastern United States injected an estimated $1 billion of income into the local economy. Without migration, the region would have actually shrunk. Brunswick County became a beacon of opportunity, attracting people seeking a better life and contributing to the county's prosperity.
The impact of migration on economic growth was evident in both Maryland and Brunswick County. In Queen Anne's County, Maryland, the highest growth in Gross Domestic Product (GDP) was observed. This county's commitment to infrastructure development, skilled workforce programs, and business-friendly initiatives attracted entrepreneurs and fostered a thriving manufacturing and wholesale trade industry. Queen Anne's County became a prime location, offering access to major population centers along the east coast, affordable commercial/industrial real estate, a skilled workforce, and a relaxed lifestyle.
These tales of two counties highlight the importance of economic diversification and the role of migration in driving growth. While Maryland faced disparities between its eastern, western, and central regions, Brunswick County thrived due to the influx of residents. The stories serve as a reminder that embracing innovation, supporting emerging industries, and creating an environment conducive to entrepreneurship are crucial for sustained economic development. As the new year approaches, it remains to be seen how these counties and their economies will evolve, but the lessons learned from their contrasting experiences will undoubtedly shape future strategies for growth and prosperity.
According to an analysis by Adam Pagnucco for Montgomery Perspective, the economy of Montgomery County, Maryland, is lagging behind. Preliminary estimates for county employment in 2023, released by the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program, reveal the county's performance. The data, sourced from employers, measures employment, establishments, and wages paid. However, it does not include non-employment income or non-payroll work. Montgomery County is a leader in the D.C. region in proprietors and proprietor income. The estimates are subject to revision. In the next part of the series, the author will identify a jurisdiction that has experienced an economic meltdown in recent years [e63975a7].
The article from CBS Baltimore suggests that a record influx of migrants crossing into the U.S. could potentially bolster Maryland's economy. The increase in migrants could lead to an increased demand for goods and services, which in turn could create job opportunities and stimulate economic growth. Industries such as construction, healthcare, and hospitality could benefit from the arrival of migrants. However, there are challenges associated with the influx, including the strain on social services and potential competition for low-skilled jobs. Overall, the article presents a perspective that views the influx of migrants as a potential economic opportunity for Maryland [aea90236].