In total, Johns Hopkins’ consolidated annual operations generated over $19 billion in economic output within Baltimore City; and $40 billion within Maryland. Johns Hopkins is solely responsible for $63.4 million in tax revenues to Baltimore City and $392.1 million to Maryland.
Johns Hopkins—the largest private employer in Maryland—delivered a $40 billion economic impact across the state last year, including supporting 149,000 jobs, according to a new analysis.
We are in uncharted economic waters. From massive layoffs and spending cuts in Washington to looming tax increases in Annapolis, Maryland entrepreneurs face a range of risks to their businesses. The decisions we make in Annapolis are that much more important, including and especially on policy issues that impact our competitiveness.
In the grand sweep of American history, we have often been tempted to defer the difficult decisions of governance in favor of expediency or political convenience. Yet, there are moments when reality compels us to confront the unavoidable truths of our collective predicament. Such a moment is now upon us, and it concerns the solvency of our national budget. To speak plainly, the federal budget cannot be rendered solvent without the reformation of entitlement programs—Social Security, Medicare, and Medicaid. Without such reform, we are hurtling toward what can only be described as a fiscal death spiral, an inexorable trajectory toward insolvency.
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