COMMENTARY

Collaboration is the key to strengthening Maryland’s competitiveness

Jan 24, 2024

Maryland faces economic challenges that threaten future prosperity

As another legislative session begins, Maryland has reached an important juncture.

Over the past year, analysis of economic data has revealed that our state is falling behind regional and national competitors in critical areas, facing challenges including a declining population, workforce shortages, high tax rates, high business costs, infrastructure deficits, high energy prices and more.

Maryland is simply not keeping pace, putting future prosperity at risk. Reversing this trajectory and overcoming these hurdles is essential so that every business and community in our state can thrive.

Governor Moore campaigned on a vision of “leaving no one behind”. The business community fully embraces this mission of inclusive economic growth. We recognize our pivotal role in creating opportunities that uplift all Marylanders through bipartisan collaboration.

Here are some ways we can work together in the year ahead:

Crafting balanced fiscal strategies that promote stability and job creation without disproportionate tax burdens that discourage business growth.
Ensuring sustainable transportation funding to maintain and expand the infrastructure that connects our state’s businesses, residents and communities.
Enacting reforms and policies aimed at getting more Marylanders to work and ensuring that our state’s employers have access to the skilled talent they need to operate and succeed. Improving military retirement relief and increasing childcare availability and affordability will be key to solving this major challenge.
Taking a comprehensive approach to complex issues such as data privacy, looking to successful policies already adopted by neighboring states as a guide, and avoiding a confusing patchwork of laws.

As champions for businesses and communities throughout Maryland, the Maryland Chamber of Commerce, we believe that above all, Maryland’s future competitiveness hinges on collaboration – bringing business priorities to the table to shape policy with bipartisan cooperation.

We stand ready to engage as active partners in shaping a thriving future for our state. While there is much work ahead, by working together, we can overcome these challenges and turn them into opportunities for growth and prosperity that will ensure a brighter future for all of Maryland.

Mary D. Kane is President & CEO of the Maryland Chamber of Commerce, an organization that serves as the leading voice for business in Maryland and represents more than 6,800 member businesses in every industry across the state. Mary can be reached at mkane@mdchamber.org or (410) 269-0642.

Read President & CEO Mary D. Kane’s Op-Ed in The Daily Record

This op-ed was originally published by The Daily Record on January 10, 2024.