This story first appeared on MassLive.com.
Marijuana grower and seller Insa has been laying off staff in recent weeks, citing more challenges from out-of-state competition that didn’t exist months ago, according to Peter Gallagher, CEO and co- founder.
“To meet these new challenges, we are focused on implementing important cost saving measures to adapt to the new market. It is through this process that the difficult decision is made to eliminate the various company’s position,” Gallagher wrote in an emailed response to questions. “We are providing support and resources to those affected by this decision to assist with the transition.”
It’s a further sign that the buzz is taking off in the state’s cannabis industry, where the price of an ounce of flower now averages $188, according to the Massachusetts Cannabis Control Commission. That’s down from $321 an ounce a year ago and $403 in March 2021.
More on this story from the Boston Business Journal