Ideally located between NYC and D.C., Maryland offers unrivaled access to both the nation’s financial center and its legislative and regulatory decision makers. Maybe that’s why industry leaders T. Rowe Price and Legg Mason got their start here—and are still thriving here.
Maryland isn't just convenient, its attractive, too. Many of Maryland's 3,000 graduates in finance-related fields settle in Baltimore's eclectic neighborhoods as they start their careers in the city's thriving financial services sector.
Maryland has the longest running AAA rating with a stable outlook from S&P Global, dating back to 1961.
Maryland’s leadership in financial services goes back quite a while. All the way to 1800, in fact, when Alex. Brown was established in Baltimore, becoming the first investment bank in the United States.
Today, Greater Baltimore is home to more recent financial powerhouses such as T. Rowe Price, Legg Mason and CareFirst. These are among the best known of the state’s 8,340 financial services firms that collectively employ nearly 95,000 workers and generate $20.87 billion in gross state product.
All of Maryland’s financial services companies benefit from being a short train ride from either New York City (financial center of the US) or Washington, DC (regulatory center of the US). They also enjoy being connected to a robust, fiber-rich telecommunications network—on a separate power grid from the one that serves New York.
Maryland offers industry leaders and startups much more than an ideal location. Think highly educated and skilled workers, competitive wages, and synergies with leaders in IT and cybersecurity, health care, and other increasingly technical (and therefore capital-intensive) fields.
Entrepreneurs look at Maryland and see opportunity. The state is among the national leaders in startup growth, new business survival and scale-ups. Firms large and small see a workforce with expertise in investment management, accounting, and the cutting-edge FinTech industry. According to U.S. News & World Report, the University of Maryland, College Park ranks among the top 25 schools nationally in undergraduate business administration, with top ten rankings in undergraduate management information systems and in graduate business information systems.
And residents of the state with the nation’s highest median household income are naturally in a position to support a wide range of financial services.
Whatever the nature or size of your business—even if it’s still in the planning stages—we can provide vital information and support.