New Economy
State of Maryland
- Maryland ranks 2nd in the Milken Institute's State Technology and Science Index for 2008. According to study results, Maryland ranks in the top ten in all five composite indices, including:
- 1st in human capital investment.
- 2nd in research and development inputs.
- 2nd in technology concentration and dynamism.
- 3rd in technology and science workforce.
- 6th in risk capital and entrepreneurial infrastructure.
- Maryland ranks 3rd in the 2007 State New Economy Index which measures the degree to which state economies are knowledge-based, globalized, entrepreneurial, information technology-driven and innovation-based.
- Maryland ranks 2nd nationally in the Milken Institute’s State Biopharmaceutical Innovation Pipeline Index.
- Maryland ranks 3rd among states in the number of biotechnology firms and third in biotech-related employment according to the latest survey by the U.S. Department of Commerce.
- According to Ernst & Young, Maryland has the 4th largest cluster of biotechnology companies among states in the U.S.
- The University of Maryland, College Park ranks 5th globally in nanotechnology-specific education and seventh in nanotech research according to a survey of universities by Small Times magazine, a technology trade publication. The University also ranks 2nd in terms of undergraduates focused on the study of nanotechnology.
- According to Small Times magazine, a technology trade publication, Maryland ranks 7th overall in the latest annual ranking of top micro and nanotechnology states. Maryland places 2nd in the work force category, seventh in research, and tenth in venture capital.
- Maryland ranks 5th nationally for its concentration of high-tech jobs; 6th for tech job growth; 4th for venture capital investments; and 12th in total tech workers.
- Maryland has the 4th largest cluster of biotech companies in the U.S.
- Maryland ranks 6th nationwide by employment in computer systems design with 56,200 jobs and 6th in defense electronics manufacturing, with 8,500 jobs. The state ranks seventh in engineering services employment with 31,900 jobs. Other Cyberstates 2008 rankings include:
- 5th – Concentration of technology jobs, which employ 80 of every 1,000 private sector workers in 2006.
- 11th – High-tech average wage of $80,800, or 82 percent more than the average private sector wage.
- 11th – Number of high-tech workers at 165,600.
- 12th – High-tech payroll of $13.4 billion in 2006.
- 13th – Number of high-tech establishments totaling 9,800 in 2006.