US: Competition for MMJ cultivation licenses heats up

Cannabis growers are seeking more land to generate more profits and to keep the shelves full in dispensaries across North America. They need more land for more production. After all, they are the first step in the sales chain that is projected for continued growth. It all starts with 'farms'. Forbes recently looked at this key sector saying: "The current "green rush" has brought with it an intense focus on large-scale cannabis cultivation. Across the United States and around the globe, we routinely hear stories of companies building larger and larger cannabis farms.

In Arizona, Colorado, California, and Oregon, cannabis is being cultivated in greenhouses in excess of 250,000 sq. ft. that are capable of yielding more than 50,000 pounds of flower. An article  said: "Executives with real estate firms that lease to marijuana growers say the market for their services is large and growing, fueled by increased demand for cannabis and the need for land to grow the plant. Investors, meanwhile, are pouring millions of dollars into these businesses. Looking ahead, the expected growth of these companies is expected to transform cannabis cultivation, with mega grow sites becoming more the norm, some experts said. 

The Forbes article continued: "While large-scale Canadian producers are building greenhouses in the millions of square feet and building similar-sized facilities in Europe, Australia, and elsewhere. In the United States, cultivation licenses are often viewed as the most valuable in the highly competitive application processes that most states use to determine who is allowed to cultivate and dispense in their states."

Source financialnewsmedia.com


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