In just a few months, the city of Fall River could have an idea of what type of impact the opening of the second recreational cannabis location in Fall River will have on revenue numbers.
Hope Heal Health opened their doors to recreational cannabis during in the first week of February.
Mary Sahady, the city’s Chief Financial Officer and Interim CIty Administrator, said the first few months of transactions might be able to predict how revenue will be affected in the long-term between Hope Heal Health’s addition and the business it could potentially take away from Northeast Alternatives.
"At this particular point, I don't really have any idea on what their revenue stream will be,” she said. “Our budget is due May 15th so hopefully I will have at least one if not two months of cash receipts so I can better estimate what our revenue stream will be from Hope Heal Health as well as if there’s a decline from Northeast.”
Northeast Alternatives who contributed nearly two million dollars to Fall River in its first year is now attempting to expand into Swansea with a new location. Their CFO and CEO told the Swansea Board of Selectmen they could net the town $750,000 in their first year.