$24M Medical Cannabis Research Center Planned for Ohio

Just Released! Get realistic market forecasts, state-by-state insights and benchmarks with the new 2024 MJBiz Factbook member program, now with quarterly updates. Make informed decisions.

If ResponsibleOhio succeeds in legalizing both medical and recreational cannabis in Ohio next month, the state will get a bonus: a $24 million MMJ research facility.

The project will only move forward if Issue 3, the ballot initiative ResponsibleOhio is behind, gets by voters at the ballot box on Nov. 3, according to Cleveland.com.

If it does, a new nonprofit called the International Cannabinoid Institute (ICI) will rent land from wealthy investors who are financing the campaign. Those investors will own 10 parcels of real estate around Ohio for growing cannabis should the measure pass.

The institute plans to grow and test the efficacy of MMJ on various illnesses on a 15-acre portion parcel of land that is sectioned off by Issue 3 just northeast of Columbus. The nonprofit would also use tax revenue from recreational marijuana sales to cover the cost of MMJ insurance for patients who otherwise wouldn’t be able to afford the treatment.

Issue 3 would amend the state constitution and set aside 10 specific pieces of land for grow operations.

The news, as Cleveland.com reported, makes clear that the investors behind ResponsibleOhio would also be able to rent out parts of the land where cannabis cultivation would be legal. That could pave the way for other groups that may want to strike similar deals with the landowners, should Issue 3 become law.

If the measure fails, however, ICI may set up shop in another state.