Imagine paying $40,000 a year for a business license, yet having a company that can barely make any money. That is the reality facing some cannabis business operators.
Ambrose Jackson, chief executive officer of The 1937 Group, walked CBS News Chicago through his cannabis craft grow facility in west suburban Broadview. He said it has not yet been built out because he has been waiting three and a half years for the funding to develop it. "Forty thousand square feet," Jackson said, "I mean, you see it."
Jackson said a lack of state funding, grants, and what he calls burdensome regulations had halted the buildout.
"We were required to gain control of a facility before we even applied for a license, not knowing whether or not we would be awarded a craft grow license," Jackson said. Jackson pays a total of $50,000 a month for property tax, insurance, and his lease.
Read more at CBS News