A new draft economic impact report from the Maryland/Israel Development Center, the group’s first annual snapshot since 2017, says Israeli-linked business activity pumped about $315.1 million into Maryland’s economy in 2024 and supported 987 jobs. The draft pegs Maryland exports to Israel at roughly $87 million in 2024 and imports from Israel at about $171 million, both sizable jumps compared with 2020. MIDC is using the report’s return after a year-long pause tied to the pandemic and regional conflict to sharpen Maryland’s pitch to Israeli startups, life science firms, and manufacturers.
Report returns after a hiatus
The draft, released in late March and covering data through 2024, marks the first annual MIDC report to resurface since 2017. David Speer, executive director of the Maryland/Israel Development Center, told the Baltimore Jewish Times that COVID-19 and the Israel-Hamas war drove the reporting pause and said staff are “really proud of the results” now that the numbers are back. The Jewish Times coverage lays out the key figures and explains why the organization chose this year to restart the annual report.
Why Maryland is competitive
MIDC presents the new numbers as evidence that Maryland’s highly educated workforce, concentration of tech and health employers, and proximity to Washington make the state an appealing U.S. landing spot for Israeli companies. The organization serves as a matchmaker, connecting Israeli firms with local partners, universities, and state agencies, a role detailed on the Maryland/Israel Development Center website. The state Department of Commerce has also pointed to recent Israeli company expansions into Montgomery County and other jurisdictions as examples of the ties MIDC helps nurture.
MIDC’s pitch and funding model
Speer told the Jewish Times that MIDC is stepping up outreach and intends to return to annual reporting, including updating its marketing and branding to reflect the latest data. He also noted that MIDC is unusual among similar groups because it receives direct support as an Associated agency through a Federation allocation rather than relying solely on competitive grants, a funding structure the organization says helps keep its programs stable. MIDC argues that this blend of public and private backing strengthens its hand when it comes to recruiting and retaining Israeli firms in Maryland.
What the numbers mean locally
For local economic development officials, the draft offers fresh talking points and hard numbers to use in pitches as counties vie for investment and talent. MIDC also highlights practical shifts that can grease the wheels of business travel and dealmaking. The organization noted the resumption of nonstop service between the D.C. area and Tel Aviv this spring, which it says could make visits and negotiations between Maryland and Israeli partners smoother. Observers caution that the real test will be whether these headline figures ultimately translate into new payrolls and long-term investments across communities around the state.
