An extract on #reisenfuerweltentdecker
The Bureau of Economic Analysis estimates that Maryland's gross state product in 2012 was $317.7 billion. However, Maryland has been using Genuine Progress Indicator, an indicator of well-being, to guide the state's development, rather than relying only on growth indicators like GDP. According to the U.S. Census Bureau, Maryland households are currently the wealthiest in the country, with a 2013 median household income of $72,483 which puts it ahead of New Jersey and Connecticut, which are second and third respectively. Two of Maryland's counties, Howard and Montgomery, are the second and eleventh wealthiest counties in the nation respectively. Maryland ranked No. 1 with the most millionaires per capita in 2013, with a ratio of 7.7 percent. Also, the state's poverty rate of 7.8 percent is the lowest in the country. per capita personal income in 2006 was $43,500, fifth in the nation. As of May 2014, the state's unemployment rate was 5.5 percent.
Maryland's economy benefits from the state's close proximity to the federal government in Washington, D.C. with an emphasis on technical and administrative tasks for the defense/aerospace industry and bio-research laboratories, as well as staffing of satellite government headquarters in the suburban or exurban Baltimore/Washington area. Ft. Meade serves as the headquarters of the Defense Information Systems Agency, United States Cyber Command, and the National Security Agency/Central Security Service. In addition, a number of educational and medical research institutions are located in the state. In fact, the various components of The Johns Hopkins University and its medical research facilities are now the largest single employer in the Baltimore area. Altogether, white collar technical and administrative workers comprise 25 percent of Maryland's labor force, attributable in part to nearby Maryland being a part of the Washington Metro Area where the federal government office employment is relatively high.
Manufacturing, while large in dollar value, is highly diversified with no sub-sector contributing over 20 percent of the total. Typical forms of manufacturing include electronics, computer equipment, and chemicals. The once mighty primary metals sub-sector, which at one time included what was then the largest steel factory in the world at Sparrows Point, still exists, but is pressed with foreign competition, bankruptcies, and mergers. During World War II the Glenn Martin Company (now part of Lockheed Martin) airplane factory employed some 40,000 people.
Mining other than construction materials is virtually limited to coal, which is located in the mountainous western part of the state. The brownstone quarries in the east, which gave Baltimore and Washington much of their characteristic architecture in the mid-19th century, were once a predominant natural resource. Historically, there used to be small gold-mining operations in Maryland, some near Washington, but these no longer exist.