Maryland-Professional and Business Services

Paper Summary:

This document discusses Maryland's economy relative to the professional and business services sector. Maryland's economy is the perfect storm of requisite conditions that this sector needs in order to expand. Maryland has a large concentration of military and defense contractors, several free trade zone, international port access, and is within easy access to every major metropolitan center along the East coast. The paper concludes that the professional and business services sector is going to expand from its current 13% of the total to 15-17% within the next 3-5 years.

From the Paper:

"Maryland has proven itself to be an attractive location for professional and business services companies to expand in, start up, or relocate to. It is very conveniently located along the Eastern seaboard of the United States and within reach of transportation to every major metropolitan area along the east coast. This location is important because, since professional and business services require a healthy presence of all industries it encourages a wide array of other businesses and enterprises as well (Maryland, 2006). Additionally, approximately 89% of the Maryland's population of 5.2m residents all reside within a single Consolidated Metropolitan Statistical Area (CMSA) which the census bureau uses to aggregate populations (Maryland, 2006). "

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