Business

The most recent oyster harvest in Maryland was the biggest in decades. Oyster season in Maryland runs from October through the end of March, and preliminary state figures show the 2021 to 2022 harvest in the Chesapeake Bay was the largest since the 1986 to 1987 season. The Bay Journal reports that the total was about 511,000 bushels, up from 333,000 during the previous season. The final number is still being calculated.

The Maryland School for the Blind hosted its 1st annual See Beyond Festival on Saturday where members of the community got to connect with the blind experience. The goal was to show the public that low vision and blindness are differences, but not obstacles to living a whole life, the school said in a news release. “People a lot of times will look at you with a cane or stare, and they have questions they want to ask,” said Faithful Reed, a student at MSB. “For them to come on here and see how we live and get educated is nice.”

Anchoring the fourth largest biotech hub in the U.S., Montgomery County’s life sciences sector is growing its footprint and investments in the future. With partnerships to fast track and commercialize products, Montgomery County is a perfect location to find ready collaborations across the entire life sciences pipeline. Innovation thrives in Montgomery County, with access to Maryland’s 40,000 biotech workers and the second highest concentration of workers in science, technology, engineering and mathematics (STEM) jobs. More than 31% of Montgomery County’s adults hold an advanced degree.

T. Rowe Price Group Inc. CEO Rob Sharps summed up the first quarter in one word: Challenging. The Baltimore-based money manager saw clients pull $18.1 billion in assets from equity funds during the quarter, bringing outflows during the last six months to more than $40 billion. The latest clawbacks occurred amid a backdrop that has seen investor sentiment decline due to fears related to the highest inflation in 40 years and the Russian invasion of Ukraine.

The Allegany Medical Marijuana Dispensary is under contract to be sold to the Canada-based TerrAscend Corp. in a deal totaling $11.7 million. A sales agreement has been signed by representatives of TerrAscend and George Merling, the current owner of the dispensary. Located at 100 Beall St. in Cumberland, the dispensary opened in December 2017 after being licensed by the Maryland Medical Marijuana Commission. Under terms of the agreement, TerrAscend will acquire 100% equity interest in the dispensary for $10 million in cash, in addition to acquiring the real estate for $1.7 million.

The long-awaited redevelopment of the former Bainbridge Naval Training Center in Cecil County got underway Thursday with a brief ceremony that marked the reopening of the site. Two massive e-commerce warehouses will soon begin development on spec as the first phase of the $300 million project gets going, said Reid Townsend, co-founder of MRP Industrial. The Baltimore-based developer is a partner in the project that sits about a mile off Interstate 95, adjacent to Hollywood Casino and the site of the up-and-coming 44-acre Great Wolf Lodge.