On April 20, more attention than usual is paid to the power of cannabis. And, already, in states like Connecticut, where an adult-use market has been given the green light by voters, cannabis gets a lot of attention. Adult-use sales are expected to begin later this year, which will amp up the excitement. For now, though, what’s needed to get a market like that off the ground? Reporter Matt Grahn at The Bulletin put that question to regional business owners. Long story short: Capital is being raised, and capital is being spent to acquire real estate and get facilities up and running.“In terms of investing in these facilities, we’re going to be pumping $10 million to $15 million into Norwich,” Jason Webski, the CEO of Sweetspot Farms, told Grahn. “That’s not just investing in the real estate; that’s local contractors. It stimulates the economy in many ancillary ways.” The Sweetspot Farms team is seeking a cultivation license in the small city of Norwich. Just recently, Norwich aldermen revised the city’s zoning ordinances to allow “plant-based” manufacturing—specifically paving the way for just such a business as what Sweetspot Farms brings to the table.
Cannabis Business Times, 04/20/2022 13:25:00