Massachusetts set to get 1 Million Square Feet Cannabis Business Park
California has been right at the center of the US medical marijuana industry for some time, and the positive impact weed has had on the economy during that time has been remarkable. The cannabis industry generated nearly $3 billion in 2016, and it is expected to be making around $7 billion by 2020. There are also lots of facilities that have sprung up in recent times in the state, which has influenced the real estate sector positively.
The GFrams facility is currently around 100,000 square feet and is one of the largest, but it is about to be eclipsed soon, with plans revealed about the biggest marijuana growth facility in the country, which will be in Massachusetts. This will greatly enhance the growth of the cannabis industry of the city, and will pave the way for future large scale projects all over the country.
The new facility will basically be a cannabis business park that will measure around 1 million square feet in size. The cannabis industry is expected to grow massively, and it is going to seriously change the game for everyone connected. The financial problems that the cannabis industry is facing will be resolved this year and there is already great excitement about the development of the cannabis business park.
Construction is expected to begin in March of this year on a 53acre site located in Freetown. It was originally planned to be the location for Boston Beer Company brewery, but has now become the site for the 1 million sq-ft canna-business parks, which will also have facilities for creating infused products, research and training centers, corporate offices, a testing laboratory, plant processing spaces, and energy-efficient greenhouses for cultivation.
The new canna-business park is expected to change the game for the marijuana industry in Massachusetts this year.