Washington County Shares MEDA’s Latest Economic Impact Findings

Posted: January 15, 2025

HAGERSTOWN, MD (January 15, 2025) The Washington County Department of Business and Economic Development is thrilled to share the Maryland Economic Development Association’s (MEDA) latest findings highlighting the powerful impact of local economic development efforts.

According to the newly released data, every dollar invested in county economic development operations over the past three fiscal years has generated an impressive $8.81 in state and local tax revenue. This study reflects the incredible return on investment and the vital role of economic development in supporting job creation and community growth.

“Investing in county economic development organizations not only drives growth but also generates crucial state and local tax revenues, benefiting the community as a whole,” says Jonathan Horowitz, Director, Department of Business and Economic Development.

We’re proud to contribute to these efforts and to see the positive results for Washington County and beyond.

MEDA Announces $8.81 Return On Investment From Every Dollar Invested in Economic Development in Maryland

The Maryland Economic Development Association (MEDA) announced the release of updated impact data from its annual study of county economic development offices in Maryland. According to the findings, every dollar invested in county economic development operations over the past three fiscal years has generated an estimated average of $8.81 in state and local tax revenue.

The study, conducted in collaboration with the Business Economic and Community Outreach Network (BEACON) at Salisbury University and MEDA’s Public Policy Committee, used IMPLAN, a regional economic analysis software, to model the data. This year’s report draws on information from participating county offices for 2022, 2023, and 2024, focusing on jobs created or retained and the funding each county invested in economic development operations.

Read more about the key findings and their implications for economic development in Maryland by exploring the full Economic Development Awareness Study below.

###