Tuesday, November 30, 2021 |
Mostly Cloudy


This Massachusetts biotech is expanding to MoCo. Here’s the plan for its local manufacturing hub.

A Boston-area cell therapy company is setting up shop in Montgomery County, the latest in a series of moves by out-of-state players to the bourgeoning biotech and life sciences ecosystem. Cambridge, Massachusetts-based TCR² Therapeutics Inc., which develops T-cell therapies for cancer, said Monday it has signed a lease with Alexandria Real Estate Equities for a Rockville cell therapy manufacturing facility. The long-term lease includes an initial 15-year commitment with multiple opportunities to extend, a company spokesperson said in an email to the Washington Business Journal.

‘Frustating’ Odenton station overhaul may finally be coming

The stars seem to finally be aligning for a long-desired and much-needed overhaul of the Odenton commuter station and surrounding area to move forward. For almost 50 years, residents of the area have waited to see Odenton Town Center realize its full potential as a transportation, retail and residential hub. Located near Fort Meade, one of Maryland’s biggest contributors of economic activity, the community should be blooming.

US Lacrosse’s first — and only — CEO will step down this year

Steve Stenersen, who has served as CEO of US Lacrosse since its inception, will step down from the Sparks-based organization by the end of the year. US Lacrosse, which serves as the national governing body for men’s and women’s lacrosse, announced the move Monday. The decision is the result of “a multi-year series of strategic conversations” between Stenersen and the organization’s board about succession planning and “organizational evolution,” US Lacrosse said in a statement.

Florida investor offers $100 million to help Maryland hotel exec buy Tribune Publishing

A Florida investor in Tribune Publishing has offered to invest $100 million in Maryland hotel executive Stewart Bainum’s bid to buy the Chicago-based newspaper chain. Former media industry executive Mason Slaine, who until recently was Tribune Publishing’s third-largest shareholder, said he reached out to Bainum Monday to offer his financial support and media experience in an effort to thwart a plan by hedge fund Alden Global Capital to buy the company.

Read More: Baltimore Sun
How one nonprofit helps at-risk teenage girls in DC and Montgomery Co.

Crittenton Services of Greater Washington aims to help hundreds of at-risk teenage girls across D.C. and Montgomery County, Maryland, every year — even during the pandemic. The coronavirus pandemic has been challenging for people from all walks of life and at-risk youth are no exception. “The pandemic has certainly impacted the young ladies that we serve,” said Siobhan Davenport, CEO of Crittenton Services. The 133-year-old nonprofit works with 500 to 600 teens from sixth through 12th grade every year.

Read More: WTOP
Vireo Health closes first tranche of debt financing with eyes on Md. expansion

Vireo Health International Inc., a physician-led, science-focused multi-state cannabis company, today announced that it has closed on the first tranche of the previously-announced senior secured, delayed draw term loan with Chicago Atlantic Group, an affiliate of Green Ivy Capital, and a group of lenders.

Read More: Daily Record
Baltimore law firm assists in $852M abuse settlement with USC

A Baltimore personal injury law firm that helped reach a $190 million settlement with Johns Hopkins Hospital over a gynecologist accused of secretly recording his patients has helped secure another multimillion-dollar settlement against a university health care facility more than 2,500 miles away.

Read More: Daily Record
Movie theaters ‘baffled’ by refreshment restrictions in Montgomery Co.

Movie theaters in Montgomery County, Maryland, are allowed to reopen at 25% capacity, but one stipulation of reopening deals a big blow to their bottom line: The county has said theaters cannot serve food and drinks to moviegoers. That’s frustrating for theater owners, because they make most of their money from concession sales, said Doug Murdoch, Executive Director of the National Association of Theatre Owners, which covers 10 movie theaters in the county. Film studios, he said, receive most of the money that comes from ticket sales. It’s popcorn and sodas that allow theaters to stay open.

Read More: WTOP
Consumer spending dipped 1% as winter storms raked the US

Consumers spending and personal incomes both fell sharply in February as severe winter storms disrupted shopping in many parts of the country and the government wrapped up distribution of $600 relief payments.

Read More: Daily Record
Maryland loses 700 jobs in February as economic recovery remains sluggish

Maryland’s economic recovery stumbled in February as the state lost 700 jobs and more people continued to leave the labor force. February’s decline ended a 10-month streak of job growth for Maryland, and also came as the U.S. overall exceeded expectations with the addition of 379,000 jobs. Maryland’s unemployment rate ticked downward slightly during the month from 6.3% to 6.2%, in line with the national average, according to data released Friday by the U.S. Department of Labor.


The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.