For every economic development dollar invested in Maryland, an average of $9.17 is generated in state and local tax revenue.

This return-on-investment figure comes from a recent announcement by the Maryland Economic Development Association , or MEDA, a nonprofit organization of economic development professionals. MEDA and its Public Policy Committee  collaborated with the Business Economic and Community Outreach Network  at Salisbury University (BEACON) to study annual survey data from economic development offices throughout the state.

BEACON’s research team reviewed the jobs created and retained, as well as county project investments, as reported by local economic development offices over the past two years. The data was analyzed with economic software application IMPLAN and then averaged for an estimated statewide return.

“This [ROI] demonstrates the enduring impact these investments have on local job creation, tax base, and community vitality, showcasing Maryland's resilience and potential for growth,” said MEDA President and Economic Development Director for the City of Frederick Richard G. Griffin, CEcD.