A Colorado-based cannabis company has canceled its plans to build a production facility in Auburn, New York that was expected to create about 100 jobs, due to delays in the state’s licensing process, The Citizen reports. Peter Marcus, vice president of communications for Terrapin, told The Citizen that the delays have made it “impossible” to move ahead with the facility.
“Terrapin was very hopeful the New York cannabis market would be an exciting opportunity in one of the most dynamic markets in the country. Unfortunately, we have watched implementation of the program crippled by painful delays and lawsuits. Ultimately, cannabis retail has not launched adequately to justify entering the market with a production facility at this time.” — Marcus to The Citizen
The company had announced the plan in October 2021 and the Auburn Industrial Development Authority approved a letter of intent submitted by the company that month. The facility would have been located in the Auburn Technology Park and Terrapin said it would cost between $20 million and $30 million to build.
In an interview with The Citizen, Auburn City Councilor Jimmy Giannettino called Terrapin’s decision “disappointing” and “indicative of the dysfunction in Albany in launching the adult-use market, which was approved by lawmakers more than two years ago.
Get daily cannabis business news updates. Subscribe
