Worcester Business Journal

www.wbjournal.com • Worcester Business Journal • 2 020 Economic Forecast 19 Get the Financing Your Business Needs. To learn more about our Business Banking services, call us at 774.402.0301 or email us at bes@saversbank.com. Simply Beter. saversbank.com • 800.649.3036 Member FDIC Member SIF Equal Housing Lender Whether you are looking to finance working capital, buy equipment and inventory or add new products and services, we have the Commercial Loan or Line of Credit that will meet your specific business needs. W >> The economic impact of legal pot has been limited In a span of just under four miles in downtown Eugene, Ore., 38 marijuana shops have opened their doors since recreational marijuana became legal to buy there in 2015. The city of 170,000 – just smaller than Worcester – has more than 50 pot shops in all. Worcester can't legally have nearly that many shops, with a state-imposed ceiling limiting the city to 15. But with Worcester's first legal pot shop open as of May 1, questions remain about how much demand will exist in Worcester and surrounding towns for places to legally buy a joint and what the eco- nomic boost the industry could give to Central Massachusetts. Eugene offers a compelling test case. The city, which is home to the 23,000-student University of Oregon, has seen a lot of speculative store open- ings in a state cannabis market more relaxed than in Massachusetts, which has had a slow rollout of pot shops. Industry watchers in Oregon say Eugene could be due for some shop closings. How many shops could come to Central Massachusetts still isn't clear. More than 30 cities and towns have passed caps on the number of stores, including Clinton, Gardner, Grafton, Millbury and Uxbridge, according to the Massachusetts Municipal Association. A majority of the state's 351 cities and towns have passed temporary bans keeping out any shops while officials consider their options. Worcester has approved a cap on retail locations tying the maximum number of shops to the number of liquor stores in the city. Pot shops can number 20% of the number of liquor stores in Worcester, or up to 15. Cultivate CEO Sam Barber in his company's grow room in Leicester P H O T O / Z A C H A R Y C O M E A U

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