Monday, May 24, 2010

Study: $2 Million in Taxes, 350 Jobs From Oakland-Licensed Cannabis Grow Facility

By David Downs
Mon, May 24, 2010 at 11:14 AM

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.

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