GLENVILLE, N.Y (NEWS10) – It’s just a matter of time before New York awards up to five medical marijuana licenses in the state, and one applicant is hoping to grow their business in the Capital Region.
On June 5, Fiorello Pharmaceuticals delivered a 2,084-page application to receive one of the five medical marijuana licenses. Now, they have picked out a location where they want to start growing.
“This is going to be a pharmaceutical facility; state-of-the-art,” CEO Ari Hoffnung said.
Hoffnung said the 120,000-sq. ft. space used in World War II would get $10 million in upgrades to operate the medical marijuana manufacturing facility. It currently sits empty at the Glenville Business and Technology Park.
“Transform this into an indoor cultivation and manufacturing facility,” he said.
He’s very confident in his company’s plan.
“The facility is here. It exists,” he said. “It’s been operational for decades. We are not on a piece of land that needs to be developed.”
Hoffnung is so confident that he already signed a 30-year lease on the warehouse.
“Ready to roll the second we get that call from the DOH,” he said.
But he also knows the process is going to be very competitive among the 43 applicants who all want a license.
“This isn’t just somebody putting up a greenhouse and taking in the cash,” marijuana policy expert Prof. Mitch Earleywine said. “They’ll be subject to production issues and testing issues.”
But Hoffnung’s not letting that stop him from growing his idea. He’s already looking at providing more than 100 jobs.
Hoffnung said he’s confident they can have medicine ready to deliver to dispensaries within 180 days.
“And ship them in a safe and secure way from this facility to the dispensaries,” he said. “Nothing is going to be sold here. Everything, though, is going to be grown and manufactured here.”
The DOH is expected to announce the five licenses in July but did not give a set date. They department did say, however, the licenses will be geographically dispersed throughout New York State.