Municipal authorities patiently await cannabis regulations | News, Sports, Jobs
What will cannabis dispensaries, consumption sites and grow operations look like in the city of Jamestown?
These questions will not be answered until the state Cannabis Management Office finalizes its regulations for dispensaries, consumption sites and grow operations.
As state officials work out how to regulate cannabis-related businesses, city officials patiently await the start of a new economic market that could generate additional revenue streams. They also work to cultivate relationships with potential dispensary operators, consumption sites and producers.
“We have three to four dispensary operators who are ready to apply (for a license) when the time comes,” said Jamestown Mayor Eddie Sundquist. “We have a few different grow operators still waiting for regulation. One is a large producer who is working on a contract to purchase a building. We have cooperative growers looking for space. Much will depend on regulations and how licenses will be issued. »
Sundquist said he was repeatedly told when the settlement might be finalized. He said once state officials draft their regulations, the rules will first be made available for public comment before being finalized.
“From what I understand, from discussions with people at the cannabis council, they are actively working on the regulations,” he said. “They are trying to make New York a model. Try to learn from other states that have already done this. We continue to hope that (regulation) will come at some point, but we still don’t know when.”
As for possible dispensaries, Sundquist said city officials have been contacted by local pharmacies and stores that sell smoking devices like vaping companies.
“We’ve also seen some interest from companies that currently have cannabis dispensaries in other states,” he said.
As for cannabis growers, Sundquist said city officials have been contacted by local growers of other products who may want to grow marijuana plants once regulated. He said city officials were also contacted by a large, growing operator interested in vacant storage space.
“These spaces allow for good growth operations. These cultivation operators are very scientific,” he said. “A lot of these grow operators bring with them high-quality jobs like botanists and people working in labs who have a real scientific understanding of growing plants.”
During Sundquist’s State of the Town address in January, he said the town’s cannabis-related economic development efforts have been featured in three national publications and several podcasts, and that Jamestown is quickly being recognized as a future. hub for the nascent cannabis economy.
“From small co-ops that bring together many respected local businesses, to large, multimillion-dollar, industrial-scale developments, the cannabis industry in Jamestown will add hundreds of well-paying jobs,” he said. “New businesses have already purchased millions of dollars of unused properties to redevelop thousands of square feet of currently vacant and underutilized warehouse, manufacturing and commercial space. This will put properties back on the tax roll, which will be part of my goal to reduce the tax burden currently borne by residents. It is also estimated that in the first four years of operation, the city’s retail dispensaries will generate more than $500,000 in indirect tax revenue from cannabis sales.
The sky might be the limit for the city when it comes to cannabis-related businesses. However, city officials will have to continue to wait patiently for state officials to regulate the new industry.
“We are delighted to see the opportunities” said Sundquist. “It’s a whole new market that we can bring to the city.”