Oregon Tribe Eyeing MJ Industry

A Native American reservation in Oregon is weighing whether to move ahead with the creation of a 36,000-square-foot marijuana cultivation and extraction facility.

The Warm Springs Indian Reservation, roughly two hours from Portland, is set to vote on the project Dec. 17, according to the Bulletin.

If the proposal passes, the facility and a trio of proposed rec shops in Portland and Bend are expected to bring in more than $11 million in revenues during the first year of operation and $26 million the second year.

Warm Spring Ventures, a business wing of the tribe, estimates that over seven years, the project could bring in a total of $173 million to the tribe.

The project would also be supported by Sentinel-Strainwise, the paper reported, which is a partnership specifically created for the Warm Springs tribe.

The Sentinel Group is a Florida-based private equity fund that would pay for construction and other capital needs, and Strainwise is a Colorado recreational cannabis chain that would bring its cultivation and retail expertise to the table.

Daily News | Briefs | Cultivation | Dispensary/Retail Store Business News | Oregon Medical Cannabis Business & Marijuana Legal News | Recreational Marijuana News

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