Maryland’s economic prosperity and economic outlook are pretty middle-of-the-road when compared with other states, according to a new study, though analysts warn that high incomes of some Maryland residents may be disguising larger economic problems.
The study called Rich States, Poor States, put out by the American Legislative Exchange Council, is less pessimistic about Maryland’s economic climate than other reports, particularly the Tax Foundation which rates Maryland 44th in the nation.
ALEC is a nonpartisan group that favors free markets, limited government and federalism — generally positions take by Republican lawmakers. The report looks at several economic and policy factors in the 50 states. States are ranked by both economic prosperity, according to the factors defined by ALEC, and the economic outlook, according to ALEC’s principles. In the report released Wednesday afternoon, Maryland ranks 21st in both.
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