Queen Anne’s County has secured a position as a leading hub for economic development by being ranked number 1 in Gross Domestic Product (GDP) growth in Maryland.
Queen Anne’s County experienced the highest growth in Gross Domestic Product (GDP) across the state of Maryland, with an increase of 8.25% between 2019 and 2021. GDP is the value of goods and services produced within a county.
The county also realized year over year growth in GDP of 15.9% in 2021, maintaining its top ranking in the state. This is a significant increase when compared with other top performers like Howard County (+4.67%).
“We are thrilled to announce that Queen Anne’s County has achieved the top rank in gross domestic product growth for the State of Maryland,” said Heather Tinelli, Economic & Tourism Development Director. “The growth in GDP highlights the investments being made in Queen Anne’s County by the private sector. Businesses are choosing to base their businesses here and use our county as a platform from which to grow. We welcome business owners, investors, and entrepreneurs–and the contributions they make to smart economic development in our region.”
A major contributor to the County’s GDP ranking is its strong manufacturing and wholesale trade industry. Several of its manufacturers have recently made or implemented plans for expansion. Tinelli noted that progress has also been a result of prioritizing the needs of local businesses and ensuring the county has the ecosystem to support them. The Department of Economic & Tourism Development consistently strives to develop processes to start or attract new businesses, and help existing ones expand.
Holistically, Maryland’s GDP grew 0.14% from 2019 to 2021. That much of this growth happened in Queen Anne’s is remarkable given the county’s rural nature. The county’s commitment to infrastructure development, skilled workforce programs, and business-friendly initiatives has been key to supporting entrepreneurship.
“Our economic landscape looks very different from larger counties like Baltimore, Prince George’s, or Frederick, and that works for us. Ranked in the top 13% of all counties in the US in business diversity, Queen Anne’s County is a place where businesses small and large can thrive because our economy is flexible and stable,” said Rebecca Clark, Economic Development Coordinator.
In addition to offering a welcoming business community, Queen Anne’s County offers a prime location with access to major population centers up and down the east coast–all within a one-day drive; commercial/industrial real estate affordability; a skilled, well-educated workforce; and a relaxed, Eastern Shore lifestyle for employers, employees, and their families to enjoy.
Businesses and site selectors interested in learning more about Queen Anne’s County should contact Rebecca Clark, Economic Development Coordinator by emailing [email protected] or calling 410.604.2100.
Categories: Economic Development, Press Release
Tags: Economic Development, GDP, Gross Domestic Product, Manufacturing, Queen Anne's County, small businesses