American Green Inc., a cannabis business based from Arizona, just bought the entire town of Nipton, California, for the purchase price of $ 5 million. They will invest the next 18-months and $ 2.5 million transforming the tiny border town in between California and Nevada into a destination for cannabis lovers.
The town has a population of just 20, is only 120 acres, and just includes a hotel, mineral baths, school and general shop, according to Bloomberg. However American Green plans to develop some service and keep the town’s existing structures. Renewable energy will be utilized to power the town.
Stephen Shearin of American Green said, “We believed that showing that there was a practical ways of having a cannabis-friendly municipality and additional making it energy independent could be a method of truly motivating folks to say, ‘Why can’t we do that here?’”
Cannabis is moving far away from the shadows the market as soon as operated under. With 8 states now having legal recreational marijuana, companies have the chance to assist marijuana become more mainstream.
A new center will be developed to produce CBD-infused water, and Nipton will likewise become a location to produce edibles, have artist-in-residence programs and differing retailers. American Green’s objective is to “show the benefits marijuana can offer.”
American Green is hoping the financial investment they’re making will turn into a big revenue. Shearin said, “The Gold Rush built this city. The Green Rush can keep it moving the way people imagined it years back.”
Image: nipton. com