Economic Impact

Maryland’s over 50 population contributes more to the local economy, workforce, and marketplace than their younger counterparts. And that impact will continue to grow as their numbers expand. By 2030, they will support 1.7 million jobs and occupy over a third of the state’s workforce. By 2050, they’ll make up 40% of the population but drive 60% of every dollar spent. With economic contributions that outpace all other age categories, it’s in our best interest to keep Marylanders in Maryland as we age.

Community Impact:

Maryland’s Economic Success is Tied to Older Marylanders

Spending Power

Maryland’s over 50 households account for more than half of all money spent.

Jobs Supported

Marylanders over 50 support 44% of all jobs in the state.

Tax Revenue Generated

Marylanders over 50 contribute more per person in state and local taxes.

Workforce Contributions

Marylanders over 50 occupy 36% of the state’s workforce.

Marketplace Contributions:

Spending Trends of Maryland’s Over 50 Population

Maryland’s economic strength is increasingly powered by older adults. As their share of the population grows, so does their influence on every corner of our economy. Data indicates that older Marylanders will continue to drive consumer spending, fuel job creation, and anchor entire industries with their experience, stability, and purchasing power. The over 50 population will continue to accelerate growth across health services, retail and wholesale trade, professional and business services, finance, construction, and real estate sectors across the state.