Typical startup costs for wholesale cannabis cultivation businesses launched in the last three years amount to $42 per square foot, according to a Marijuana Business Daily survey of executives in the industry.
By Bart Schaneman, Omar Sacirbey and John Schroyer
Washington state signs off on an organic marijuana certification program, Philadelphia’s mayor says state-run liquor stores should handle recreational sales, and Minnesota’s two medical cannabis businesses bleed red ink.
Here’s a closer look at some notable developments in the marijuana industry over the past week.
Now that Nevada has approved an early start to recreational cannabis sales, existing medical marijuana companies in the state are readying for a burst of new business that could equate to tens of millions of dollars in additional revenue this year.
Innovative Industrial Properties, a cannabis-focused real estate investment trust (REIT), said it has agreed to purchase a partially developed property in Capitol Heights, Maryland, and plans to invest up to $15 million in a medical cannabis cultivation facility there.
The building on the site, once completed, is expected to total about 72,000 square …
Proposed rules governing California’s free-wheeling medical marijuana market could entice entrepreneurs large and small to set up shop in the state and encourage cannabis investors to open their checkbooks wide for local businesses.
Congress' decision to pass a $1.1 trillion spending bill that includes key protections for legal medical marijuana businesses is a clear sign the federal government will take a hands-off approach to the MMJ industry - at least in the near term.