Continuing a rapid multi-state expansion plan that has seen 28 storefronts open so far, Green Thumb Industries Inc (CSE: GTII; OTCQX: GTBIF) is once again bumping up operations in Ohio.
This time around the company is preparing to open a new processing facility in Toledo, which will support existing and upcoming dispensaries across the state.
Rise Cleveland, the company’s third dispensary in Ohio and 27th store overall, opened on August 1. That opening followed previous storefronts constructed in Toledo and Lorain earlier in 2019. Two additional dispensaries are slated for the Lakewood area by the end of the year.
While construction on the cultivation site was already underway, the fate of that processing center had been up in the air in recent weeks, but was just finally granted licensing today following an appeal to the state’s Department of Commerce.
The appealed licensing was heralded as a victory for the community by Toledo mayor Wade Kapszukiewicz this morning, who cited the creation of more local jobs to support Green Thumb operations.
Some of those job hunts were already underway during the appeals process, such as Green Thumb launching a search for a Patient Outreach Coordinator in the Toledo area. Looking towards new growth in the medical cannabis program, that position is focused on leading patient seminars and overseeing community education campaigns for driving new patient sign ups.
Discussing the license acquisition today, Green Thumb Industries CEO Ben Kovler had this to say:
We are grateful the Department of Commerce awarded the cultivation license we applied for in 2017 based on exemplary scores and look forward to serving the people of Ohio as they seek relief with medical cannabis. This win allows GTI to expand our brand portfolio to include the cultivation of award-winning genetics and supports the company’s strategic goal of distributing brands at scale.
While Ohio has seen a trio of openings recently, Green Thumb Industries has also rapidly expanded into operations with new dispensaries in Florida and Massachusetts.
Like a large section of the cannabis industry in North America, GTI has additionally dipped into the booming CBD side of the market, with subsidiary Beboe launching a selection of skincare products back in April.