Maryland Technology Development Corporation’s FY25 study finds $17 in economic activity for every $1 of state funding

COLUMBIA, Md., Sept. 10, 2026 /PRNewswire/ — TEDCO, Maryland’s economic engine for technology companies, announced the findings of an independent economic impact study detailing the contributions of TEDCO to the state of Maryland.

The 2026 study, conducted by Sage Policy Group, a Baltimore-based economic and policy consulting firm whose client base spans more than forty states, shows TEDCO as an economic powerhouse, contributing significant economic and fiscal returns to the Maryland ecosystem. In fiscal year 2025 alone, TEDCO supported more than $1 billion in statewide economic output, 4,027 jobs and $479 million in labor income — building on a track record that now totals more than $9.9 billion in economic output and 38,000 jobs since inception.

“TEDCO was created to lead innovation to market, and we are excited to continue doing just that,” said Troy LeMaile-Stovall, TEDCO CEO. “Our impact across Maryland’s ecosystem reflects the strength of the entrepreneurs, researchers and industry partners we’re proud to support. Every dollar we invest is designed to help promising ideas become viable companies, and this study confirms that approach is paying dividends for the entire state — in jobs created, in business expansions and in Maryland’s reputation as a place where innovation thrives.”

According to the study, for every state-funded dollar in FY25, TEDCO’s output represents more than $17.00 in economic activity across the state — activity that supported more than $479 million in labor income that year alone.

“Our analysis shows that TEDCO isn’t just supporting Maryland’s innovation economy — it’s actively expanding it, even as the state contends with real economic headwinds,” said Dr. Anirban Basu, chairman and CEO of Sage Policy Group. “We built this model conservatively, and the results still show more than $17 in economic activity for every dollar the state invests. That kind of return is rare, and it reflects the discipline TEDCO brings to deploying public capital.”

The findings arrive as Maryland confronts real economic strain. The state has lost more than 46,000 jobs since December 2024, driven largely by federal workforce reductions, and faces a structural budget gap projected to exceed $6 billion by 2030. Against that backdrop, TEDCO’s ability to convert public investment into private-sector jobs and tax revenue takes on added significance.

Even more striking is TEDCO’s return to local communities. In fiscal year 2025, TEDCO generated nearly $60 million in State and local tax revenue. This revenue, fueled by TEDCO-supported companies, includes $24.1 million returned to Maryland’s counties and municipalities — even though they do not contribute to TEDCO’s funding — enough on its own to cover the salaries of 420 public school teachers. That distinction matters now more than ever. As the state grapples with job losses and a widening budget shortfall, TEDCO’s track record offers a clear, data-driven case for continued investment.

See the full study here.

“TEDCO’s continued impact on Maryland’s growth and development can be seen across our programs, offerings, connections and portfolio companies,” said TEDCO Board of Directors chair, David Tohn. “These numbers are hardly a surprise – in my work on the TEDCO Board, I have seen the direct impact TEDCO makes across the state, the passion and dedication each employee has for the entrepreneurial ecosystem and can confidently say that, without TEDCO, Maryland’s growth would not be where it is today.”

Programs under the TEDCO umbrella include numerous investment opportunities – the Venture Funds, the Seed Investment Funds, the Social Impact Funds, the Rural Pre-Seed Funds, and allocated funding from the U.S. Treasury’s State Small Business Credit Initiative – as well as funding opportunities from the Maryland Innovation Initiative Fund and the Maryland Stem Cell Research Fund. Additionally, TEDCO offers various programs and resources intentionally designed to support the growth and development of Maryland’s ecosystem; such programs and resources include the Equitech Growth Fund, DefTech, Prelude Pitch, strategic alliance Institute for Women Entrepreneur Excellence and more. 

About TEDCO

TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.

Media Contact
Tammi Thomas, President, TEDCO, tthomas@tedcomd.com
Rachael Kalinyak, Associate Director, Marketing & Communications, TEDCO, rkalinyak@tedcomd.com

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SOURCE TEDCO