Medical marijuana facility pitched in Pottstown – The Phoenix
POTTSTOWN >> You can add Pottstown to the list of places where a medical marijuana facility is being proposed — and remove Limerick.
Wednesday night, the Borough Council heard a proposal to establish a medical marijuana growing and processing facility at 740 Queen St., now home to Titan Steel and adjacent to the Neapco building.
Jon Cohn, chief operating officer for the firm, said the original proposal was from his company, Agri-Kind Inc.
But after meeting with representatives of Keystone Medical Cannabis LLC., which just last month proposed a similar facility in Limerick, the companies decided to merge and focus on the Pottstown proposal, Cohn said.
The merged company has 23 owners, mostly from Montgomery and Chester counties (one is from Delaware County), “is 80 percent to 90 percent minority owned,” and is aiming for one of the two permits the state will issue in this six-county region for new grow facilities as well as a permit to operate a dispensary.
Since Pennsylvania legalized medical marijuana last April, there has been intense interest not only in the Commonwealth, but around the nation. It is estimated it will generate $6.7 billion in revenue in coming years.
What makes the Pottstown proposal unique, said Cohn, is the company wants to share some of that largesse with the borough.
Not only did the proposal say the company would share 4 to 5 percent of its revenues with the borough, but it will also provide as many as 80 new jobs in the four years that follow the start of operations, he said.
Those jobs will have salaries between $25,000 and $110,000 and the firm is still filling its senior management positions now, Cohn said.
“We like that we’re on the town side of the tracks,” said Scott Zukin, vice president of Zukin