FY 23 APPROVED BUDGET IN BRIEF

HARFORD COUNTY BRIEF ECONOMIC FACTS

Population

Population Distribution

Households Population

Age Percent Under 5 5.6% 16.7% 18-64 61.5% Over 65 16.2% 5-17

2021*

95,094

262,977

*U.S. Census Bureau

Major Employers

% of Total County Employment 22.8% 5.7%

Employer

Employment

U.S. Army Aberdeen Proving Ground Harford County Public Schools UM Upper Chesapeake Medical Center

21,000 5,231 3,305 2,000 1,541 1,200 1,200 1,011 1,000

1.3% 2.2% 1.7% 1.3% 3.6% 1.0% 1.1% 1.1%

US Army Research Lab (ARL) Harford County Government Klein's ShopRite of Maryland Kohl's E-Fulfillment Center Harford Community College Amazon Sorting Center MTN2

RiteAid Mid-Atlantic Distribution Center

900

Income

Distribution Under $25,000 $25,000 - $49,999 $50,000 - $74,999 $75,000 - $99,999 $100,000 - $149,999 $150,000 - $199,999 $200,000 and over

Harford County Maryland

U.S.

11.8% 14.6% 15.2% 13.8% 21.7% 12.0% 10.9%

13.1% 19.2% 16.0% 21.2% 15.5% 17.3% 13.2% 12.7% 19.0% 15.1%

10.5% 12.7%

6.8% 7.7%

Median Household Income Avg. Household Income Per Capita Income Total Income (millions)

$89,147 $108,305 $34,103

$84,805 $111,417 $42,122

$62,853 $88,607 $34,103

$9,346

$226,495 $9,658,475

Tax Rates

Harford County Maryland

Corporate Income Tax (2015) Personal Income Tax (2015) Sales & Use Tax (2015) Real Property Tax (2022)

None

8.25%

3.06% 2.0%-5.75%

None 0.9779 $2.1033

6.0% 0.112 None

Business Personal Property Tax (2015)

Major Tax Credits Available: Enterprise Zone, Job Creation, R&D, Biotechnology and Cybersecurity Investment, A&E District

Harford County's Bond Rating

Harford County went to the bond market in February, 2022 for $75,000,000 in Consolidated Public Improvement Bonds. The County received the highest rating possible from all of the three investor services, resulting in Fitch Ratings, Standard and Poor's and Moody's Investor Service ratings all at AAA.

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