Business bust: O‘Malley tax policies smack down corporate job growth

In a little less than two years since being elected, Martin O‘Malley bears full responsibility for the declining numbers of businesses operating in Maryland and the large number of jobs lost.

With the current decline in tax revenue, O‘Malley will be grasping for sources of additional revenue to balance the state budget, currently projected at greater than 8% shortfall. Increased corporate taxes loom on the immediate horizon.

In response, increasing numbers of Maryland employers are opting to close doors in Maryland to open new offices or consolidate their workforce in neighboring states.

Below is a graphic detailing the list of businesses that have closed or reduced their workforce during O‘Malley‘s brief tenure as governor. With few incentives to lure new businesses to Maryland, the outlook for corporate presence and job growth continues to look grim.

Also see figures and graph for 2008!