AmeriCann CEO Quoted in UK’s The Sunday Times

“The stakes are undoubtedly large. In Colorado alone the marijuana market is worth an estimated $1bn per year. Across America the black market for cannabis is an estimated $50bn. A large chunk of this could be up for grabs after November 8 as the economy experiences a “green rush”.

Huge cannabis farms are planned to meet the legal demand. Two weeks ago, AmeriCann Inc completed a deal to lease a 53-acre plot of land in Freetown, Massachusetts. It plans to build the state’s largest marijuana greenhouse, which could expand to 1m square feet.

“The industry’s big conundrum will be how to meet this new supply,” said Tim Keogh, AmeriCann’s chief executive. “We’re looking to emulate companies growing sugar beet or tomatoes by creating large greenhouse facilities.”

What has brought America to this point? A recent Pew Research Center poll showed that 57% favoured legalisation, with just 37% opposed.

“I think voters are reaching a comfort level,” says Keogh. “They realise it’s not that big a deal. The benefits of taxing it, taking it out of the criminal black market . . . saving police time, helping tackle the opiate crisis. It’s all become more clear.”

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