Recently multi-state cannabis operator Jushi Holdings has revealed that it plans to invest $50 million to expand its cultivation and processing facility in the state of Pennsylvania in order to meet increasing market demand.
The Florida-based company said it plans to expand the facility in Scranton from 90,000 square feet to more than 160,000 square feet, with the first phase to come online in mid-2021 and the entire project completed by the second quarter of 2022.
The expansion will nearly triple canopy space to 98,000 square feet.
Innovative Industrial Properties of San Diego will be partially finance the expansion project through an amended lease agreement between the parties said Jushi.
The project is expected to create more than 100 jobs but is subject to certain milestones, approvals and permits.
“The medical cannabis market in Pennsylvania is rapidly growing and with our products in high demand, this investment will significantly expand our cultivation capacity and market share,” Jushi CEO and Chair Jim Cacioppo stated.
Currently the company operates eight Beyond/Hello retail dispensaries in Pennsylvania. It bought Vireo Health International’s cultivation facility in Pennsylvania this year and recently expanded the facility’s indoor cultivation space.
With New Jersey legalizing recreational marijuana earlier this month, Pennsylvania is feeling the pressure to also legalize sales recreationally.
