Page 7 - BusinessWest August 17, 2020

Theory Wellness in Chicopee closed in March just a few weeks after it opened, but customer traffic has been solid
this summer.
as the economy took a downturn,” said Marcos Marrero, Holyoke’s director of Planning & Eco- nomic Development, about the cannabis hub city leaders have worked to cultivate, one that now includes a handful of cultivation, produc- tion, and retail businesses, with more on the way. “Oddly enough, we haven’t seen a significant stoppage in stores’ actions at this point. I can
“It’s been an interesting six months, to say the least. We had a brand-new team in place, the final approvals had come through, and that team was just getting their sea legs on the retail side when the shutdown came.”
only speculate why that is.”
One reason, quite simply, is that some sectors
do better than others during recessions. Mar- rero compared it to when prohibition was lifted during the Great Depression, and smart entre- preneurs immediately saw the long-term (and pent-up) demand for alcohol, even during tough economic times.
“Today, we have a very robust alcoholic-bever- age industry,” he said, reflecting demand that has never subsided over the decades. “So I don’t think
When dispensaries were eventually allowed to open, it was only for medical marijuana at first, while the vast majority of business — recreation- al sales — remained shut down.
And now?
“It’s dynamite,” he said. “A lot of money is coming back to the market, and our team hasn’t missed a step since coming back — and we’ve seen the team continue to grow. We’ve come back a lot stronger.”
The line that forms outside the shop each morning testifies to demand that certainly didn’t
go away during the weeks when product was unavailable.
It’s a story taking shape across the state, with cannabis businesses continuing to launch and grow even as the pandemic still rages and the economy nowhere near returning to its 2019 con- dition. Take Holyoke, for example — a city whose leaders fully embraced the cannabis trade from the start, and where two more businesses opened in recent weeks, Canna Provisions on Dwight Street and Boston Bud Co. on Sargeant Street.
“I’m not going to lie — I was very nervous
15%
INDUSTRY JOB GROWTH IN 2019*
MASTER OF SCIENCE IN
CANNABIS SCIENCE & COMMERCE
The Master of Science in Cannabis Science and Commerce at American International College is designed for students interested in a career in the cannabis industry. Graduates will leave AIC with a demonstrated understanding of the business, legal, and scientific aspects of the cannabis field.
*2020 Leafly Jobs Report
30 CREDIT PROGRAM
FULLY ONLINE OR HYBRID FORMAT 1 OR 2 YEAR COMPLETION
7 WEEK ACCELERATED COURSES
Apply today at:
aic.edu/cannabis
BusinessWest
FEATURE
AUGUST 17, 2020 7
Staff Photo