U.S. and Maryland manufacturing have receded for the past 40 years as cheaper emerging market manufacturing resulted in the wholesale relocation to the emerging markets. Outsourcing has been a persistent buzzword. There is growing evidence that manufacturing in the U.S. and Maryland is on the rise.

As the economy starts clawing itself out from the crater dug by the Great Recession, a portfolio manager at T. Rowe Price thinks the nation’s biggest companies are in the best position to take advantage of the turnaround.

As income levels grow emerging market consumers become a more important force in creating an opportunity for Maryland based companies. To understand the recent changes in the consumer market it is helpful to step back and look at the recent role of the emerging markets.

Greater Baltimore stocks took a beating in the market’s near collapse two years ago — and some have yet to recover. The region’s 10 biggest publicly traded companies lost a combined $2.7 billion in market value since Lehman Brothers’ bankruptcy filing on Sept. 15, 2008.