Jushi Holdings Inc., a Florida-based cannabis and hemp operator, said it intends to invest about $50 million to expand its marijuana cultivation and processing facility in Scranton, Pennsylvania. The company expects the expansion to create over 100 new jobs in the Scranton area.
Jushi plans to nearly double the square footage of its subsidiary’s grower-processor facility in Scranton, Pennsylvania to more than 160,000 square feet from about 90,000 square feet, in a phased expansion.
The expansion project will mainly be focused on nearly tripling the facility’s canopy space to about 98,000 square feet upon completion.
Jushi Holdings expects the first phase of the expansion to come online in mid-2021 and the final phase to be completed by the second quarter of 2022.
“The medical cannabis market in Pennsylvania is rapidly growing and with our products in high-demand, this investment will significantly expand our cultivation capacity and market share,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi.
Jushi, through its subsidiary Pennsylvania Medical Solutions, LLC, will work with Innovative Industrial Properties, Inc. to partially finance the expansion project through an upsize to the existing lease agreement between the parties.
Jushi said it recently completed an expansion project in the third quarter of 2020 that included more than doubling the…
