The most populous – and potentially most profitable – recreational cannabis market in Massachusetts could soon get its first retail store.
Massachusetts regulators granted the first provisional license for a rec MJ store in Boston.
The preliminary license for Pure Oasis also is the first under a state economic empowerment program, according to The Boston Globe.
The program is designed to benefit marijuana entrepreneurs in communities most affected by the war on drugs.
Pure Oasis is expected to open in a few months.
“It’s an important milestone,” Steven Hoffman, chair of the Massachusetts Cannabis Control Commission, told the newspaper.
Massachusetts is struggling to achieve the social justice and equity goals of its recreational marijuana program.
Recently, the state received only five applications for 123 social equity permits.
Statewide, only 22 adult-use cannabis stores were open as of late June.
Still, rec sales totaled nearly $140 million during the first six months the program was in operation.
The recently released Marijuana Business Factbook projects that Massachusetts rec sales could reach $450 million-$500 million this year.
Written by Jeff Smith
Marijuana Business Daily