US (MI): 305 Farms building $110 million indoor cannabis grow operation

An indoor cannabis grow facility is being built on 40 acres in Southwest Michigan for nearly $110 million.

305 Farms LLC, financed by the Verleur Group in Florida — a private equity group co-founded by vape entrepreneur Jan Verleur — is building the facility in Lawrence, according to a news release. The campus is expected to employ 200 people with hourly wages starting at $20.

It's nearly finished with the first phase of construction, a 44,000-square-foot indoor grow space and 16,000 square feet for work like trimming and processing, the release said. The next phases will come in the form of two buildings with a total of 200,000 square feet, opening later this year and next year.

305 Farms expects to grow and process 50,000-80,000 pounds of cannabis annually.

"We negotiated with four other municipalities before deciding to make Lawrence our home-base. We chose Lawrence due to the available land, proximity to I-94, and key access to needed utilities," 305 Farms CEO Matthew Peon said in the release. "Another key factor was the excellent working relationship with Lawrence officials. This project would not have been possible without their assistance and support."

Read more at crainsdetroit.com


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