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AgCenter medical marijuana business will take $11 million investment
Source:
theadvocate.com
- Oct 19, 2016
Turning a 15,000-square-foot warehouse into a medical marijuana greenhouse, lab and production facility and operating it for at least five years before revenue outstrips expenses will cost an estimated $11.3 million, according to the LSU AgCenter.
The AgCenter will be pitching the business plan to investors at a public forum at 1:30 p.m. Oct. 28 at LSU's Digital Media Center Theatre. The marijuana program — fully funded by outside investors — will be administered by subcontract with a "production entity," which may own the facility directly or through a third-party property holding company.
The LSU and Southern University agcenters have a state-sanctioned monopoly on the medical marijuana business. But they won't be selling anything smokable. State law requires the medicine to be in a liquid, such as an oil or spray; capsules or pills; edible dosages; topical applications; trans-dermal patches; or suppositories.
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Category: Louisiana
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