Friday, December 28, 2012

Gambling Industry Dominates 2012 MD. Employment Forecast

Gambling Industry Dominates 2012 Maryland Employment Forecast
New casinos account for 40% of new job announcements

Annapolis: The gambling industry emerged in 2012 as Maryland's top job-generating sector, far outpacing new economy mainstays including bio-tech, cyber-security, information technology and traditional economic engines such as construction and manufacturing.  This conclusion is derived from Change Maryland's analysis of the state's Department of Business and Economic Development year-to-date tally of companies setting up or expanding facilities and the estimated numbers of jobs created.

The state's estimate is derived from gaming facilities slated to open or expand by Lakes Entertainment in Allegany County; the Cordish Companies in Anne Arundel County; and Caeser's Entertainment in Baltimore.  The estimate does not include a new casino slated to open in Prince George's County following the passage of the question seven ballot referendum in November.

"Maryland should not rely on casinos as a crutch to generate jobs," said Change Maryland Chairman Larry Hogan.  "I am deeply concerned that so much attention was focused on casinos this year that elected officials dismissed other productive components of the economy as an afterthought. While I'm glad that some will get jobs as black jack dealers and cocktail servers, the best careers are those that require science,  technology and engineering skills that Maryland educators are working so hard to develop in the classroom."

Combined, the gambling industry is expected to generate 3250 jobs or nearly 40% of the 8500 new jobs announced in 2012.   Other sectors pale in comparison with cyber security expected to generate 2612 jobs, healthcare 379 jobs and manufacturing 334 jobs.  By contrast, such lauded sectors by the O'Malley Administration, most notably green energy, are expected to generate just 110 jobs.

"I don't know how Martin O'Malley can say with a straight face that jobs are a priority of this Administration with numbers like these," said Hogan.  "These numbers are lopsided and pitiful."

Maryland and Virginia maintain files that track new and expanding facility announcements.  Virginia's equivalent list shows 13,640 jobs announced in 2012.  Although both states' data is subject to revision, the information is an indicator of future economic performance.  Virginia's list is downloadable in excel format, is up to date as of December 2012 and is searchable by industry sector.

Change Maryland's analysis of DBED's "New and Expanding Businesses"  comes on the heels of dismal economic development results including 6500 small businesses lost between 2007 and 2010, shrinkage of state-based Fortune 500 companies to just three and the loss of companies including Accentia, Bechtel and Northrop Grumman to Virginia.

According to DBED, Maryland's data is gathered on a regular basis from department staff, county economic development officials and published sources.



Maryland New and Expanding Businesses:

Virginia Announcements Database:

No comments: