Cresco Labs wants $38M in tax breaks for Wawarsing marijuana facilityPosted by MMP News AuthorOn April 22, 2022

The company that got approval in March to build a 380,000-square-foot marijuana production facility in Wawarsing has applied for $38 million in tax breaks for its project and the future business.

Cresco Labs’ application to the Ulster County Industrial Development Agency asks for a $28 million reduction in property taxes the Chicago-based pot producer would pay over 15 years to the town, county and Ellenville School District. That would cut the company’s projected taxes over that time almost in half, to $29 million.

Cresco is also asking the agency to waive $10 million in estimated sales tax on construction materials for the facility, which is to be built on a 91-acre property on the edge of Ellenville where a factory that made TV antennas and then knives stood for decades.

Approved: Wawarsing OK’s marijuana production facility at former Schrade site

Application: Marijuana maker says it will employ up to 679 workers in Wawarsing

Announced: Ulster officials hail proposal for marijuana production facility

Cresco will use the new building to grow marijuana, create marijuana-based products such as vaping oils and edibles, and store finished goods for distribution to retail sites. Cresco plans to start construction in July and finish in about 21 months, according to the application, which touts 100 construction jobs and 375 permanent jobs.

The company that got approval in March to build a 380,000-square-foot marijuana production facility in Wawarsing has applied for $38 million in tax breaks for its project and the future business.

Cresco Labs’ application to the Ulster County Industrial Development Agency asks for a $28 million reduction in property taxes the Chicago-based pot producer would pay over 15 years to the town, county and Ellenville School District. That would cut the company’s projected taxes over that time almost in half, to $29 million.

Cresco is also asking the agency to waive $10 million in estimated sales tax on construction materials for the facility, which is to be built on a 91-acre property on the edge of Ellenville where a factory that made TV antennas and then knives stood for decades.

Approved: Wawarsing OK’s marijuana production facility at former Schrade site

Application: Marijuana maker says it will employ up to 679 workers in Wawarsing

Announced: Ulster officials hail proposal for marijuana production facility

Cresco will use the new building to grow marijuana, create marijuana-based products such as vaping oils and edibles, and store finished goods for distribution to retail sites. Cresco plans to start construction in July and finish in about 21 months, according to the application, which touts 100 construction jobs and 375 permanent jobs.