Pot company takes their profits to buy a dilapidated city in California to turn it into a marijuana haven and tourist stop
An Arizona based company dedicated to the burgeoning pot industry has just purchased a dilapidated municipality in the state of California with the intention of turning it into a thriving marijuana center and eventual tourist stop for those wanting the freedom to imbibe on the drug.
American Green announced that they have spent $5 million to purchase the city of Nipton, located in the San Bernadino Valley, and will transform the municipality into a pot themed enterprise.
‚ÄúAmerican Green plans to include a new facility to manufacture water infused with CBD, the cannabis component that is typically associated with reducing pain and inflammation. The new Nipton will also have a production site for edible marijuana products, retail stores, and artist-in-residence programs.‚ÄĚ
In doing so, the company hopes to develop Nipton into a tourist attraction and make cannabis approachable and acceptable to a wider audience.They plan to manufacture products with smaller doses and provide a vending machine that ensures customers are of age using a biometric scanner.
American Green wants to make Nipton, which features natural mineral springs, a tourist destination. Shearin¬†told¬†Marijuana Business Daily¬†that they plan to ‚Äúopen cannabis-themed bed and breakfasts, host culinary events, start artists-in-residence programs and more.‚ÄĚ –¬†Bloomberg
Industry themed cities are not new to America, and have been around for a large portion of the nation’s history. ¬†However the most widely known one of course is Disney World down in Florida, which co-opted land from two different counties to create their own viable municipality that even has its own police and law enforcement facilities.
As more and more states pass laws or referendums making marijuana legal once again, the potential for the pot industry to bring about a real economic boom becomes more real every day. ¬†And just as the statistics for both Colorado and Washington have proven out to be greatly beneficial since they both legalized cannabis four years ago, the economic potential of pot goes far beyond that of just budding entrepreneurs, but also to the budgets of the states that are allowing its consumption.
Kenneth Schortgen Jr¬†is¬†a writer for¬†The Daily Economist,¬†Secretsofthefed.com,¬†Roguemoney.net, and¬†Viral Liberty, and hosts¬†the popular¬†youtube podcast¬†on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.