CNBC: Broadband is one of the main reasons Maryland is the most improved state for business

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In CNBC’s annual ranking of the best states for business, Maryland has been a well-known mover.

The Old Line State climbed 19 places from the last ranking of the Americas Top States for Business channel in 2019. It is now approaching the top 10 at No. 12 of the list.

The position stands out for the people who put the ranking together. In a report accompanying the ranking, CNBC noted that Maryland is the most improved state this year.

One reason, CNBC says, is the infrastructure. CNBC notes the state’s moves to modernize its power grid. Of interest to technologists and policy makers, the state’s broadband system is also a big part of the reason. It notes a study that found Maryland has the third fastest internet speed and its recent moves to set up a state-of-the-art broadband office through the Digital Connectivity Act of 2021.

Of course, there is still some work to be done. In reports, the Abell Foundation noted that Baltimore City still has about 40 percent of households without a wired broadband connection. Across the state, African American households account for 40% of all disconnected households, and people below the Marylands median income account for 75% of those with no home internet service or a laptop, desktop or tablet. There are connectivity gaps, and the pandemic has only exacerbated them.

Yet the state is also investing money to address this problem. The broadband office will oversee a $ 300 million grant in federal aid.

Overall, the report shows the importance of broadband when it comes to a business climate.

The report also found that the state topped the charts for technology and innovation, that Maryland’s economy “weathered the pandemic better than most” (thanks, federal government), and improved education.

When it comes to areas where the state could improve, the report notes that there is a slowdown in educated workers moving into the state, a decline in small business loans, and the need for road repairs.

While there is still a long way to go to capture neighboring top-ranked Virginia, the improvement shows a step forward and the importance of technology and innovation in making that leap.

Maryland is open for business wasn’t just our slogan, we changed the entire mission of the state government to be blatantly pro-jobs and made one of the biggest economic breakthroughs in America. https://t.co/eVEEdPlfnq

– Governor Larry Hogan (@GovLarryHogan) July 13, 2021

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