New York Prison Being Transformed Into $150 Million Cannabis Campus
Located at the foothills of the Ramapo Mountains, 60 miles north of Manhattan is an old correctional facility that is about to be converted into a top-class cannabis production center.
A former prison site is about to be renovated and converted into a multi-million dollar legal cannabis structure. This innovative development is set to gulp about $150 million from the start to the end of the project. New York is certainly preparing for the implementation of its new cannabis bill, and what better way to show seriousness than to convert a previous correctional facility to a world-class cannabis production facility. The recreational legislation was approved earlier this year and was partially implemented. The state recently selected the board members of its regulatory council and estimates that the recreational industry should be up and running by late 2022 or early 2023.
Cannabis Campus Then & Now
Cannabis Campus is the proposed name of the to-be facility and it is being funded by Green Thumb Industries (GTI). The GTI is an acclaimed cannabis company that is famed for being one of the largest producers of the legally approved pot.
The group plans to produce thousands of tons of marijuana flowers, THC-infused gummies, and vapes in preparation for the state's recreational industry. By mid-2023, the facility would be up and running.
GTI's $150 million cannabis campus is planned to be sited at the Warwick penitentiary location. This correctional facility which was part of the mid-orange correctional center was active up from 1914 until ten years ago. Back then it was commonly called the New York City fam and was first used as a drug and alcohol treatment facility. Later, It was converted to a prison home to majorly house inmates charged with cannabis-related offenses. So, the location of a cannabis facility here is symbolic.
The 38-acre lot of land was used as a juvenile facility in the 1930s, then it was known as the New York State Training school for Boys. Wayward youths all over the state were sent here to be punished and assisted with their behavioral flaws. It only became a major prison facility in 1970, and it served as a penal institution for adult men for about forty years before it was shut down in 2011 by former governor Andrew Cuomo.
GTI purchased 38 acres of property from Warwick nonprofit development corporation. The property was formerly a 150-acred asset. The development bought the entire asset from the state in 2011 for $4 million and this was overseen by the town supervisor, Micheal Sweet.
Cannabis campus joins another cannabis company, Citiva to be located in the Warwick community. However, the Cannabis campus has more prospects. In addition to these production companies, the asset also hosts a cannabis testing laboratory as well as a CBD production facility.
Setting Up Cannabis Campus
Green Thumbs Industries chose this location for its fertile soil, learned and experienced workforce, as well as its proximity to established cities in New York.
The facility is going to come with a series of employment opportunities for residents. Just before it was locked down in 2011, the Warwick correctional facility provided 400 jobs to the local communities around. Barely 10 years later, these communities are glad to have a replacement coming up.
The construction of this facility will employ about 100 local laborers through the scheduled three phases of development. Once it is opened up, the center will also employ about 149 locals. Kovler plans to make this facility a commercial center for the budding cannabis industry in New York.
Senator Micheal Martucci commented at the groundbreaking ceremony that the facility will be modeled to serve all customers in the whole Hudson Valley. He also added that the extent of what this partnership could accomplish is limitless.
Since New York's recreational market would not begin operations for the next twelve months or more, GTI's multi-million facility will be opened— just in time to help the market generate its estimated $3.8 billion in sales.
The Significance of this development
The irony of this building will forever be etched in history as a turnaround point for New York's justice system.
Work has begun on the site, as the groundbreaking ceremony was already held in September. At this event, Ben Kovler, the president of the Green thumb Industries (GTI), remarked on what he feels is the significance of the new cannabis facility being located on what used to be the punishment ground for cannabis offenders.
Cannabis reforms are a change that is due in the U.S. the latest developments across all states show that change is in the air and cannot be pushed back anymore. New York using a former brig as a new location for cannabis production shows it has embraced change. Now hundreds of New York citizens are going to be faced with different opportunities to make wealth for themselves and boost the state's economy.
About Green Thumb Industries
This is a $5.7 billion cannabis empire that is run by a 42 years old Kovler. The company has its head office in Chicago and sells cannabis, vaporizers, gummies, edibles, and other marijuana-derived products across 14 states in the country.
Kovler established GTI in 2014 when he realized the nation was about to enter what he referred to as a cannabis green rush. He created a small team of investors, and then the team went on to win an operating license in Illinois in 2013. Their dispensary, GTI, began operating in 2014.
Kovler comes from a family of brilliant businessmen whose winning attitudes have caused them to accrue much wealth and prestige.
Bottom Line
All in all, it is a good home run for Warwick. They already have the necessary structures in place for a farm community economy, with the establishment of these cannabis productions facilities, the local economy will boom in no time and the corporate touch will find a place in the town. The Cannabis Campus facility may be the silicon valley of the US cannabis industry if all cards are played right.
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