Multistate operator Cresco Labs succeeded in its push to get $38 million in tax breaks for a planned cannabis cultivation and manufacturing facility in Ulster County, New York.
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The board of the Ulster County Industrial Development Agency (UCIDA) voted unanimously to approve the $27.99 million reduction in property taxes over 15 years as well as $10 million in sales-tax exemptions, according to the Daily Freeman of Kingston, New York.
Chicago-based Cresco previously said the facility in the town of Wawarsing would provide 375 permanent jobs.
UCIDA Chair James Malcolm reportedly said the jobs would bring “a tremendous amount of ripple effect for this community.”
Cresco is working to close its acquisition of New York-based marijuana MSO Columbia Care.
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