The City of Oakland can make $2 million per year and add 350 jobs to its economy by licensing a seven-acre cannabis growing facility near I-880 at the Embarcadero, a new study reported Friday. The study by Brion and Associates was commissioned by AgraMed, a non-profit company owned by
JohnJeff Wilcox of Lafayette, CA. AgraMed wants to redevelop a seven-acre parcel near I-880 and the Embarcadero, so they commissioned Brion and Associates to do the six-month study. The study found the 170,000 square-foot facility would:
-Generate at least $2 million in new annual tax revenues
-Create over 350 union jobs
-Cultivate about 58 pounds per day on average
-Pay an average of $53,700 in salaries per job
-Generate gross revenues of about $59 million per year
-Plan on selling a pound of medical cannabis for around $2,800
-Grow about .25% of the state’s pot, estimated at 8.3 million pounds per year.
The City of Oakland is reportedly looking at licensing large-scale grows allowed under
Prop 215 SB420.