The Charles County Economic Development Department (CCEDD) is pleased to announce that Charles County, Maryland, has achieved a significant milestone, ranking 11th in Maryland for economic performance in 2023. This marks a substantial improvement from the county’s 16th-place ranking in 2022, according to data released by the Bureau of Economic Analysis (BEA) on December 4, 2024.
“This achievement reflects the dedication and hard work of our community, businesses, and local government in fostering economic growth and innovation,” stated Acting County Administrator Deborah E. Hall. “Economic development is one of the key goals and objectives of our County Commissioners, and this recognition underscores their commitment to creating opportunities, attracting investment, and enhancing the quality of life for all who live and work in Charles County."
The BEA's release of Gross Domestic Product (GDP) data offers valuable insights into the economic health of counties, states, and major markets across the United States. Charles County’s GDP saw impressive gains in 2023, including more than half a billion dollars in Real Dollar GDP growth. This inflation-adjusted measure reflects the value of goods and services produced within the county's economy during the year. In 2023 alone, Charles County’s GDP grew by 1.5%, reaching $7.7 billion, reflecting the county’s rapidly growing and diversifying economy. Over the past decade, Charles County has experienced Real Dollar GDP growth in seven of the last ten years, underscoring its stability and momentum.
“Charles County is committed to fostering a thriving business environment that supports our local entrepreneurs and attracts new industries to the region,” shared Kelly Robertson-Slagle, Director of the Charles County Economic Development Department. “Tracking GDP is a key indicator of our economic health, and consistent growth in this area reflects our continued efforts to diversify the economy, attract investment, and create job opportunities. This achievement highlights our commitment to building a vibrant community where people want to live, work, and play.”
Key drivers of this expansion include growth in logistics, energetics, technology, government contracting, and healthcare sectors. In the last few years, the county’s energetics industry has been a notable growth area, including ongoing investments in the Naval Surface Warfare Center (NSWC) Indian Head. Looking to the future, a multibillion-dollar budget has been allocated through 2030 to support the expansion of this sector, which will continue creating high-quality jobs and enhancing the region’s vital role in national defense.
Additionally, the healthcare sector is poised for significant growth, becoming a primary source of job creation and workforce development in the county. Ongoing investments, including medical centers and new healthcare projects, are expected to centralize healthcare and social assistance to the county’s economic future, providing long-term benefits for residents and businesses. With the continued expansion of highly skilled STEM fields, Charles County is positioning itself as a leader in Maryland’s economic future.
“The county’s upward trajectory is a testament to deliberate planning, strategic investments, and a strong commitment to long-term growth,” said Robertson-Slagle. “As we continue to climb the ranks, the future looks brighter than ever for Charles County’s businesses, workforce, and communities.”
To learn more about economic development initiatives in Charles County, visit https://www.meetcharlescounty.com.
About Charles County Economic Development Department: The Charles County Economic Development Department (EDD) supports and promotes the economic vitality of Charles County, Maryland, a dynamic and fast-growing region in the Washington D.C. metro area. It serves as the first point of contact for local businesses and companies seeking to locate or relocate to Charles County.
With a strong collaborative network of businesses, education, and governmental partners, the organization assists companies through a variety of services, including site selection, workforce training, incentive packaging, introductions to business contacts, permit expedition, and capital sourcing.
EDD seeks to attract entrepreneurs, talented professionals, and companies from key growth industries to the region by marketing Charles County's business, workforce, and lifestyle assets. In addition, the EDD provides resources and support for existing businesses to help them grow and expand in Charles County.?For more information about CCEDD, visit https://www.meetcharlescounty.com/.
