A medical marijuana company has expressed interest in locating a cultivation and production facility in Yellow Springs.
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Village Council President Karen Wintrow announced at this week’s council meeting that the Village received an inquiry late last week from Cresco Labs, a Illinois-based medical cannabis company, regarding potentially opening a facility in Yellow Springs.
“I feel it is an opportunity the Village should explore,” Wintrow said at the meeting.
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The company is interested in purchasing land for the facility and is not seeking tax abatements or other incentives, Wintrow said.
The opportunity would create new jobs and expand the village’s tax base. Based on Village leaders’ initial discussions during the May 15 meeting with Cresco company representatives, the estimated $5 million facility would create 65 jobs at an average salary of $40,000.
Ohio legalized medical marijuana in Sept. 2016, and is currently developing rules and guidelines for medical cannabis production.
Village leaders are exploring the opportunity, which comes as the process of seeking public input on potential uses of the CBE land is still unfolding. Village Council will discuss the matter at a special meeting open to the public Tuesday, May 23, at 1 p.m. in council chambers.