Purchased at 5million and promising to turn it into “the country’s first energy-independent, cannabis-friendly hospitality destination.”
The town as of now houses a population of 20 with a school building, hotel along with a mineral bath and general store.
Project manager Stephen Shearin, stated “We thought that showing that there were a viable means of having a cannabis-friendly municipality and further making it energy independent could be a way of really inspiring folks to say, ‘Why can’t we do that here?”
— CBS News (@CBSNews) August 5, 2017
[W]e are thrilled to begin work on this first-of-its-kind eco-tourism experience for conscious cannabis consumers," David Gwyther, chairman
— temu2 (@temu55jin32) August 5, 2017
Our Previous US president Barack Obama moderated government intervention. Which made it accessible to buy cannabis for recreational purposes. But with Donald Trump now in office as our president, the future legalization is less certain.
This project opens up a better view toward making marijuana more appealing to a broader audience. The industry needs this wider acceptance to fuel its growth. Cowen & Co., a provider of investment and banking services, is undoubtful companies will succeed and forecasts the legal weed business growing to $50 billion by 2026 from $6 billion in 2016.
“We are excited to lead the charge for a true green rush,” American Green’s president David Gwyther said in a statement to Time. “The cannabis revolution that’s going on here in the US has the power to completely revitalize communities in the same way gold did during the 19th Century.”
Nipton was originally founded during the gold rush in the early 20th Century when the precious metal was found nearby.
— AP West Region (@APWestRegion) August 4, 2017
Companies like American Green are opting to hope for the best. As long as the policy remains unchanged. Shearin knows the company’s investment will be returned and the town will be profitable.
“The gold rush built this city. “The green rush can keep it moving the way people envisioned it years ago,” says Shearin.