• Posted On Sunday, February 7, 2021 by Evan Lamoinara

    Cannabis Q4 2020

    SalesLeads announced today the Q4 2020 results for the new planned capital project spending report for the Cannabis and Medical Marijuana industry. The Firm tracks North American planned industrial capital project activity including facility expansions, new plant construction and significant equipment modernization project. Research confirms 47 new projects in the Cannabis sector.

    Planned industrial project activity within the sector increased by 4% from the previous quarter, but is down 28% YTD from the previous year.

    The following are selected highlights on new cannabis and medical marijuana industry construction news.

     

    Cannabis - By Project Scope/Activity

                New Construction - 21 New Projects

                Expansion - 15 New Projects

                Renovations/Equipment Upgrades - 17 New Projects

     

    Cannabis - By Project Location (Top 5 States)

                Massachusetts - 8

                Michigan - 6

                Illinois - 5

                Colorado - 3

                California - 3

     

    Largest Planned Project

    During the 4th quarter of 2020, our research team identified 2 new Cannabis facility construction projects with an estimated value of $25 million of more.

    The largest project is owned by Jushi Holdings, Inc., who is planning to invest $50 million for the expansion of their growing and processing facility in SCRANTON, PA by 70,000 sf. Construction will occur in two phases, with completion of the first phase slated for Summer 2021.

     

    Top 10 Tracked Cannabis and Medical Marijuana Projects

    FLORIDA:

    Medicinal marijuana provider is planning to invest $37 million for the expansion of a recently leased growing and processing facility in LAKELAND, FL by 155,000 sf.

    MICHIGAN:

    Medicinal marijuana provider is planning for the expansion of their growing and processing facility in WEBBERVILLE, MI by 70,000 sf.

    ILLINOIS:

    Medicinal marijuana provider is planning for the renovation and equipment upgrades on their 80,000 sf growing and processing facility in FREEPORT, IL. Completion is slated for Spring 2021.

     

    Medicinal marijuana provider is planning for the construction of a 100,000 sf growing and processing facility at 495 Dalton Ave. in PITTSFIELD, MA. They are currently seeking approval for the project.

    MISSOURI:

    Medicinal marijuana provider is planning for the construction of a 55,000 sf growing and processing facility in HUMANSVILLE, MO. They have recently received approval for the project.

    NEW YORK:

    Medicinal marijuana provider is expanding and planning for the renovation of a recently leased 127,000 sf growing and processing facility in HAMPTONBURGH, NY. They are currently seeking approval for the project.

    VIRGINIA:

    Medicinal marijuana provider is planning for the construction of a 100,000 sf growing and processing facility in PALMYRA. VA. They are currently seeking approval for the project. Completion is slated for Spring 2021.

    INDIANA:

    Specialty nutritional products mfr. is planning to invest $6 million for an expansion, renovation, and equipment upgrades on their hemp processing facility at 1700 E. US Hwy. in MICHIGAN CITY, IN. They have recently received approval for the project.

    PENNSYLVANIA:

    Medicinal marijuana provider is planning to invest $5 million for the expansion, renovation, and equipment upgrades on a growing and processing facility in MIDDLESEX TOWNSHIP, PA. They are currently seeking approval for the project.

    ILLINOIS:

    Startup medicinal marijuana provider is planning to invest $13 million for the construction of a 5,000 sf growing and processing facility in PEKIN, IL. They are currently seeking approval for the project.

     

    Since 1959, SalesLeads, based out of Jacksonville, FL has been providing Industrial Project Reports on companies that are planning significant capital investments in their industrial facilities throughout North America. Our professional research team identifies new construction, expansion, relocation, major renovation, equipment upgrades, and plant closing project opportunities so that our clients can focus sales and marketing resources on the target accounts that have an impending need for their products, services, and indirect materials.

    Each month, our team provides hundreds of industrial reports within a variety of industries, including:


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