Economy

Holyoke’s mayor isn’t afraid of pot

Holyoke’s mayor isn’t afraid of pot

Alex Morse sees potential for urban farming in his old city’s mills

Photographs by Mark Morelli  OUTSIDE HOLYOKE CITY HALL is a stone fountain that once gurgled with water, offering a more wholesome substitute for alcohol to “a thirsty humanity,” as the inscription reads. Erected in 1901, the monument was one of several put up by the Women’s Christian Temperance Union around the country as part of(...)

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Banking on the pot industry

Banking on the pot industry

Conflicts with state laws and federal regulations create anxiety for most banks

AT LEAST ONE Massachusetts bank is offering services to the nascent legal marijuana industry in the state despite uncertainty over federal drug and banking regulations that still classify all pot sales as money-laundering, making it a risky venture both for the businesses and financial institutions. According to marijuana and banking industry officials, family-owned Century Bank(...)

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