Federal government data show that Maryland’s economic engine is sputtering. Taxpayers, businesses and jobs are fleeing the state in greater proportion to other jurisdictions in the region. To diagnose engine problems, mechanics first look under the hood, so let’s start there.
Maryland saw the largest taxpayer exodus in the region between 2007 and 2010, with nearly 31,000 residents having left the state, according to the latest IRS figures. Most of them, nearly 11,500 individuals in taxpayer households, went to Virginia. The net loss to Maryland — and Virginia’s gain — is $390 million in annual incomes. A surprising close second in attracting former Marylanders is North Carolina. Combined, that amounts to almost $700 million in annual incomes streaming down the Interstate 95 corridor.