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A Unique Purchase Could Propel This Multi-State Cannabis Operator to the Forefront of a Big Market

A Unique Purchase Could Propel This Multi-State Cannabis Operator to the Forefront of a Big Market
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

New-york , United-states , Canada , Orange-county , Washington , Rochester , America , Canadian , Orange-county-industrial-development-agency , Fiorello-pharmaceuticals , Green-thumb-industries

How Martha Stewart, A Rockefeller And A Liquor Company Already Have A Foot In NY's Legal Cannabis Market


How Martha Stewart, A Rockefeller And A Liquor Company Already Have A Foot In NY’s Legal Cannabis Market
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Martha Stewart at the Vanity Fair Oscar Party, Los Angeles, February 9th, 2020
Matt Baron/Shutterstock
New York City is a destination for all types of retailers, but when it comes to cannabis, we have the added cachet of being the metropolis that consumes the most weed on the planet. The state’s cannabis market has been valued at $4.6 billion, between demand from residents and tourists over 21. That’s projected to grow in the next few years now that marijuana is legal here—although analysts note that above-ground businesses will have to work hard to take over sales from the black market.

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Green Thumb poised to build out $50 million cannabis facility in New York

Green Thumb poised to build out $50 million cannabis facility in New York
mjbizdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mjbizdaily.com Daily Mail and Mail on Sunday newspapers.

New-york , United-states , Orange-county , Michael-sweeton , Warwick-valley-office , Orange-county-industrial-development-agency , Fiorello-pharmaceuticals , Green-thumb-industries , Technology-corporate-park , Chicago-based-green-thumb , Technology-corporate , Green-thumb-industrie

Green Thumb Receives Incentives To Build New York Cannabis Facility At Former Federal Prison


Green Thumb Industries Inc (OTCQX: GTBIF) (CSE:GTII) to build a marijuana cultivation and manufacturing facility.
Green Thumb plans to buy the remaining eight lots, covering around 40 acres, at the Warwick Valley Office and Technology Corporate Park to construct a state-of-the-art cultivation and manufacturing facility.
With the new manufacturing operation, the multistate operator plans to hire around 125 full-time employees with full benefits.
The incentives approved by the agency include “sales and use tax exemption, mortgage recording tax exemption, a 15-year property tax abatement and the issuance of taxable revenue bonds,” per the report.
“We are thrilled to help bring Green Thumb to Orange County, along with 125 good-paying permanent jobs, hundreds of construction jobs and $50 million in capital investment in the first phase alone,” according to the county agency. 

New-york , United-states , Orange-county , Ben-kovler , Warwick-valley-office , Fiorello-pharmaceuticals , York-industrial-development-agency , Green-thumb-industries-inc , Technology-corporate-park , Industrial-development-agency , Green-thumb , Green-thumb-founder

Fiorello Pharmaceuticals


Green Thumb Industries Inc (OTC: GTBIF) (CSE: GTII) has entered New York via the acquisition of Fiorello Pharmaceuticals.
This purchase gives the company access to one of only 10 vertically integrated licenses in the state.
The deal includes a license for a cultivation and processing facility, as... Read More...
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The key details every cannabis investor needs to know about New York marijuana legalization


(Ryan Lange/Unsplash)
(Business Insider) — New York just legalized marijuana for adults over the age of 21.
The state Senate and Assembly passed the bill late on Tuesday, and Gov. Andrew Cuomo signed the bill into law on Wednesday morning. New York is now the latest state to legalize cannabis, following in the footsteps of its neighbor New Jersey.
It’s the third time state legislators have tried to legalize marijuana, though hang-ups over taxation, impaired driving, and social-equity provisions prevented earlier iterations from passing. Medical cannabis is already legal in New York.
Though New Yorkers aged 21 and over are now legally allowed to possess and smoke cannabis, adult-use cannabis sales won’t begin anytime soon.

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Cannabis farm secures financial incentives to build | NewsRadio 1450/1370 WKIP


By Mid Hudson News -www.midhudsonnews.com
Apr 1, 2021
WARWICK – The Orange County Industrial Development Agency Board has granted final approvals for financial incentives to Fiorello Pharmaceuticals to develop a growing, processing, manufacturing, and wholesale cannabis products facility at the Warwick Tech Park.
The company plans to develop a 400,000-square-foot facility at the site of the former Mid-Orange Correctional Facility in the Town of Warwick and receive a 15-year payment-in-lieu-of-taxes as well as sales tax exemption on construction materials and an exemption on the mortgage filing fee.
IDA Board Chairman Michael Torelli said taxing entities, which currently receive no revenue on the property, will reap full financial benefits under the arrangement.

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New York looks to legalize cannabis: Deals to expect


On Saturday, New York lawmakers published an updated version of a bill to legalize adult-use cannabis after weeks of negotiation. Lawmakers voted to pass the legislation on Tuesday and on Wednesday morning, Governor Andrew Cuomo signed the bill into law.
Legalization means there will be huge changes to the state's current cannabis landscape. Analysts at Stifel said they expect adult-use cannabis sales to start in late 2022, and that the state's market could exceed $5 billion.
Ten cannabis companies currently operate in New York's medical marijuana market. Nine of them are owned by large companies that sell cannabis in several US states, which are called multistate operators or MSOs. One is independent and operates in New York alone. 

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