Business

Cancer diagnostics giant Exact Sciences will close down its Baltimore operations three years after acquiring a company heralded as one of the region’s biggest success stories. Thrive Earlier Detection spun out of Johns Hopkins in 2019 and raised around $369 million in venture capital before Exact Sciences acquired it in a deal worth up to $2.15 billion. The Wisconsin-based firm now plans to close down Thrive’s Baltimore office at 1812 Ashland Ave. by March 31, 2024 and lay off 50 people.

The Helen Delich Bentley Port of Baltimore Monday received a top U.S. Coast Guard security assessment for the six state-owned, public marine terminals that are managed by the Maryland Port Administration (MPA) for the 15th consecutive year. The Coast Guard’s annual inspection of facilities included a detailed review of all security protocols and procedures at the Dundalk, Seagirt, North Locust Point, South Locust Point (including the cruise passenger terminal), Fairfield and Masonville marine terminals.

A new partnership between Goodwill and the Love for Lochlin Foundation will bring technology and employment services to the foundation’s mobile clinic to bring free employment resources to more Frederick County residents. The Rotary Club of Carroll Creek awarded a grant of $950 to the two organizations. It will fund a laptop from Goodwill with job resources, such as virtual career services and trainings, for the foundation’s mobile vaccination clinic.

Sen. Elizabeth Warren, D-Mass., and three other Democratic lawmakers are pushing Federal Reserve Chairman Jerome Powell to lower interest rates at the upcoming Fed meeting to make housing more affordable. “As the Fed weighs its next steps in the new year, we urge you to consider the effects of your interest rate decisions on the housing market,” the senators wrote in a letter to Powell on Sunday.

The Maryland Economic Development Association (MEDA) Monday released findings from a study indicating that an estimated average of $9.17 in state and local tax revenue is generated for every dollar invested in county economic development operations in Maryland. The study, conducted in collaboration with the Business Economic and Community Outreach Network at Salisbury University (BEACON) and MEDA’s Public Policy Committee, utilized annual survey data collected over the past two years from local county economic development offices.

A Baltimore company that turns mushrooms into a meatless version of bacon will appear on the popular ABC show “Shark Tank” Friday night to try and woo its panel of celebrity investors. Meat the Mushroom founder Marvin Montague Jr. hopes the nationwide platform and the possible investment from one of the “sharks” can help the business put its products into 1,000 grocery stores by the end of the year.

Ryanair (RYA.I), has told Boeing (BA.N), that if any U.S. customers refuse to take delivery of 737 MAX 10 aircraft, that it would buy them “at the right price,” executives said on Monday. The Irish airline, Europe’s largest by passenger numbers, already has 150 firm orders for the MAX 10, the largest jet in the 737 family, and options for 150 more, with the first deliveries due in 2027.