Columbia Care Prepares For New York's Legal Cannabis Program, Starting With Weed Cultivation At New Facility

Columbia Care Inc. CCHW CCHW CCHWF 3LP will begin growing and processing cannabis in its New York facility.

The cannabis company confirmed Wednesday that it has obtained approval from the New York State Department of Health to start operations at its new facility in eastern Long Island. The first harvest is planned for Q4 2021.

The first phase of cultivation will entail 30,000 square feet of canopy, while subsequent phases will utilize more of the 740,000 square feet of operational greenhouse space and 200,000 square feet of incremental grow capacity.

The expanded square footage will support the growing medical market, with the potential for inclusion in the forthcoming adult-use program, with canopy caps expected. The facility will eventually provide cultivation space for potential social equity business collaborations as New York’s cannabis industry evolves.

Columbia Care plans to add an additional four medical dispensaries in New York, for a total of eight dispensaries in the state, three of which will be co-located with adult-use, pending regulatory approval.

 “As New York gears up for whole flower in the medical program and future adult-use sales, we will be ready with our scaled and vertically-integrated operations,” Nicholas Vita, CEO of Columbia Care stated. “This is an incredible time for the state’s cannabis program. Local leadership is taking swift action to create the foundation on which the program can grow to meet the needs of all New Yorkers in what will be one of the largest markets in the U.S.“

Price Action

Columbia Care’s shares were trading 2.98% lower at $3.91 per share at the time of writing Wednesday morning.

Photo: Courtesy of Ryan Lange on Unsplash