• Posted On Wednesday, April 6, 2022 by Evan Lamolinara

    Cannabismarch2022

    SalesLeads announced today the Q1 2022 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 projects. Research confirms 58 new projects in the Cannabis sector.

    Planned industrial project activity within the sector increased by 47% from the previous quarter, and is up 21% 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 - 23 New Projects

              Expansion - 8 New Projects

              Renovations/Equipment Upgrades - 29 New Projects

    Cannabis - By Project Location (Top 5 States)

              Massachusetts - 12

              Michigan - 12

              California - 6

              New York - 5

              Illinois - 4

    Largest Planned Project

    During the 1st quarter of 2022, our research team identified 5 new Cannabis facility construction projects with an estimated value of $25 million or more.

    The largest project is owned by 305 Farms, who is investing $110 million for the construction of a 350,000 growing, processing, and office facility in LAWRENCE, MI. Completion is slated for early 2023.

    Top 10 Tracked Cannabis and Medical Marijuana Projects

    CALIFORNIA:

    Medicinal marijuana provider is planning for the construction of a 583,000 sf growing and processing facility in LANCASTER, CA. They are currently seeking approval for the project.

    CALIFORNIA:

    Medicinal marijuana provider is planning for the construction of a 388,000 sf growing and processing facility at 16750 Herrington Rd. in MIDDLETOWN, CA. They are currently seeking approval for the project.

    FLORIDA:

    Medicinal marijuana provider is planning for the renovation and equipment upgrades on their 200,000 sf growing and processing facility in MYAKKA CITY, FL. They are also planning for the construction of four 200,000 sf growing and processing facilities. They are currently seeking sites in FLORIDA.

    NEW YORK:

    Startup medicinal marijuana provider is planning for the construction of a growing and processing complex in CANAJOHARIE, NY. They are currently seeking approval for the project. Construction will occur in two phases.

    NEW JERSEY:

    Medicinal marijuana provider is planning to invest $15 million for the renovation and equipment upgrades on a 33,000 sf growing and processing facility at Washington Ave. in BERGENFIELD, NJ. They have recently received approval for the project.

    FLORIDA:

    Medicinal marijuana provider is planning for the renovation and equipment upgrades on a 109,000 sf growing and processing facility at 4720 Gateland Dr. in LAKELAND, FL. They are currently seeking approval for the project.

    NEW YORK:

    Medicinal marijuana provider is planning for the expansion of their growing and processing facility in RAVENA, NY by 100,000 sf. They are currently seeking approval for a project.

    CALIFORNIA:

    Medicinal marijuana provider is planning for the renovation and equipment upgrades on a recently acquired 94,000 sf processing facility in DESERT HOT SPRINGS, CA.

    OHIO:

    Medicinal marijuana provider is considering an expansion of their growing and processing facility in EAST LIVERPOOL, OH.

    PENNSYLVANIA:

    Medicinal marijuana provider is planning for the construction of a 75,000 sf growing and processing facility in CHESTER, PA. They are currently seeking approval for the project.

     

    About SalesLeads, Inc.

    Since 1959, SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team.


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