A California company has planted the seeds for growth at the Green Thumb Industries’ medical cannabis-growing operation in Danville.
Innovative Industrial Properties Inc. (IIP), a real estate investment trust for the medical-use cannabis industry, will buy the Danville facility for $20.3 million in a sale-leaseback transaction with Chicago-based Green Thumb Industries Inc. The companies closed on the deal on Nov. 12.
IIP also plans to invest up to $19.3 million for GTI to expand the facility to increase production, according to GTI’s website.
Montour County Commissioner Chairman Ken Holdren said he believes the growth will lead the company to expand its workforce to 100 people by the end of the year from around 30 earlier this year.
“They are or will be pretty close to 100 by the end of the year,” Holdren said. “Clearly, 100 family-sustaining jobs in Danville are critical.”
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