On December 6, 2024, Salisbury University’s 2024 College Fed Challenge team presented their project “Addressing the Tri-Factor Growth Cycle for a Sustainable and Thriving Future” at the 2025 Southern Delmarva Economic Forecast on December 6th. The team comprised of five economic students: Zachary Harris, Darby Trout, Joe Enfinger, Janelle Armstrong, and Lance White. Dr. Ying Wu, Professor of Economics, served as the faculty adviser and coach.
By analyzing the administrative data and survey data, the team suggests that lowering Maryland’s corporate tax rate would foster a virtuous tri-factor cycle—boosting job growth, strengthening the state budget stance, and creating a more pro-business climate—thereby attracting both human and financial capital, expanding the tax base, and leveraging the state’s advantages in a knowledge-based new economy.
This whole day event was held on Salisbury University campus and was well attended by over 200 participants, including local business leaders, Vice President from the Federal Reserve Bank of Richmond, the Presidents of Chambers of Commerce in both Maryland and Delaware, and members of the Eastern Shore Delegation of the Maryland General Assembly. The audience was profoundly impressed by the students’ thorough research and their professional presentation.
Team members expressed their deep appreciation for this unparalleled opportunity. One student reflected, “presenting at this event was incredibly rewarding. Engaging with policymakers, business leaders, and other professionals provided a real-world context for applying what I learned in class. For the first time, I truly felt like an economist, conducting research, interpreting data, and offering meaningful insights into state and regional economic conditions.”