News & Announcements
Orange County IDA and Warwick Valley LDC Land National Cannabis Company at WV Office and Tech Corporate Park
New Windsor, NY – The Warwick Valley Local Development Corporation (LDC) and the Orange County Industrial Development Agency (OCIDA) announced today that a large cannabis producer has proposed formal plans to build a cultivation and manufacturing facility at the Warwick Valley Office and Technology Corporate Park (the Park) in 2021.
Green Thumb Industries (OTCQX: GTBIF), with headquarters in Chicago, Illinois, is a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries. The company will purchase the remaining eight lots available at the Park (approximately 40 acres) to build out a state-of-the-art cultivation and manufacturing facility, that, once fully operational, will employ approximately 125 full-time employees with a competitive compensation package including full benefits, according to its recently submitted application to OCIDA for tax incentives.
Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 2,300 people and serves thousands of patients and customers each year. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ Dispensaries.
Formerly a New York State Correctional Facility, the Warwick Valley Office and Technology Corporate Park sits within 150 acres in the Town of Warwick. The prison property was shuttered in 2011 and purchased by the LDC. Since that time, the Town of Warwick and LDC have worked collaboratively to attract new businesses to the property, develop community spaces, and develop 10 “shovel-ready” pad sites.
In 2018, the LDC approached the OCIDA and its Accelerator to find a suitable industry focus for the Park. OCIDA CEO Laurie Villasuso and Accelerator Managing Director Vincent Cozzolino, oversaw an in-depth analysis of the property and local economy with the LDC and the Town before determining that the hemp, cannabis, and CBD industries could be appropriate sectors for the Park. Since that time, the Town (via a New York State grant), the OCIDA, and the LDC, have invested millions of dollars to renovate existing buildings and have brought four new cannabis-related companies to the Park. In addition, and the group recently completed the renovation of the former Manor House on the property, turning the dilapidated building into “clean” laboratory and manufacturing space for new, small, cannabis-related businesses.
“With Green Thumb Industries purchase of the remaining lots, we can expect a significant boost in our economy in 2021 and the complete build-out of the Park,” said Town of Warwick Supervisor Michael Sweeton. “I’m grateful to the LDC and the IDA and Accelerator for creating a great partnership that will bring new jobs, revenue, and a new industry to the Warwick Valley.”
“Green Thumb Industries is a socially-responsible company that will bring approximately 125 good-paying permanent jobs to the region, as well as hundreds of construction jobs and millions of dollars in investment,” said Laurie Villasuso, OCIDA CEO. “The leadership of the OCIDA chose to develop a Cannabis Accelerator in Warwick because we hoped this industry sector could benefit local farmers, jobseekers, and our residents. We’re gratified to see our hard work paying off to benefit the residents of Orange County.”
John Lavelle, commercial broker at Rand Commercial Realty, represented the property with assistance from Dan Ahouse, President of Stockade Strategies.
