Firm Acquires 19 Acres From Illinois County For Medical Marijuana Farm

Jacob Redmond

Well-Known Member
Stephenson County transferred the real estate title to the land to In Grown Farms Tuesday. The company isn't paying the county anything for the land. Instead, it will pay to have Commonwealth Edison to extend electrical utilities to the site - a cost estimated at $300,000.

"This is a tremendous relief off the county's back," said County Board Chairman Bill Hadley. "The $300,000 really was an estimate, and we'd have gotten it back over a 10-year period, but you never know what can happen. It's a great benefit to the taxpayers that they don't have to foot the bill."

In Grown Farms CEO Larry Kiest said the company hopes to start construction as early as next week. The first of two cultivation buildings should be completed and operational in three to four months, he said.

The lllinois Department of Agriculture earlier this month awarded In Grown Farms a license to grow cannabis under the state's medical marijuana pilot project. The company will build its cultivation center at Mill Race Crossing, the county's industrial park south of the Titan Tire plant on U.S. 20. Mill Race Crossing has been undeveloped since the county borrowed $6 million and bought the 147-acre parcel in 2006.

In Grown Farms has pledged to give 5 percent of its net profit to local governments. Two percent of the revenue will go toward infrastructure improvements and development for the city of Freeport. An additional 2 percent will fund industry-specific training programs at Highland Community College, while the final 1 percent will be donated to the Stephenson County Health Department for substance abuse programming and education.

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Full Article: Ottawa firm acquires 19 acres from Stephenson County for medical marijuana farm - News - Journal Standard - Freeport, IL
Author: Karen Patterson
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