Business
Item 9 Labs Corp.'s 45-Acre Marijuana Cultivation Expansion Approved by Coolidge, Arizona Officials
Item 9 Labs Corp.'s 45-Acre Marijuana Cultivation Expansion Approved by Coolidge, Arizona Officials.
About this update from Item 9 Labs Corp.
[{"type":"text","content":"Local City Council Supports the Company's Master Expansion Plan, Creating 650,000+ Square Feet of Marijuana Operations; Hires SVP of Construction Nick Bowden to Lead Site ExpansionPHOENIX, AZ / ACCESSWIRE / November 16, 2020 / The Coolidge, Arizona City Council has accepted master site expansion plans for one of the state's largest approved cultivation sites, owned and operated by Item 9 Labs Corp. (OTCQX:INLB) ("Item 9 Labs," or the "Company"). The vertically integrated marijuana operator producing premium products will enhance their marijuana operations space by 33x at the conclusion of the expansion.Expansion Details: Currently, the Company has a 20,000 square foot facility on their 50-acre site. The site will see an expansion on 45 of its acres to include six additional buildings, 12 greenhouses and six greenhouse support buildings (head houses). Seven of the buildings will be for indoor cultivation and one will be for expansion of the Company's lab and support space for finished product. In addition to the above uses, the Company is currently awaiting state approval for 5-acres of on-site outdoor cultivation. Once complete, the site will be comprised of 650,000+ square feet of marijuana operations.Ongoing construction will take place over the next three years in six phases with the initial phase beginning in early 2021.Phase one includes the construction of two 26,000 square foot greenhouses, one head house and two 10,000 square-foot buildings - one for indoor cultivation and one for the lab and packaging. This phase adds 72,000 square feet of operations space.Construction on phase two is anticipated to begin in summer 2021.Funding is already underway for the master site development, which will be led by the Company's new SVP of Construction, Nick Bowden."Scaling with a dozen greenhouses is more cost-effective than traditional indoor growing and allows us to produce yields that will service the entire state with Item 9 Labs' premium product, while also creating another 200 jobs," Item 9 Labs Corp. Chief Executive Officer Andrew Bowden said. "In the interim, with the Arizona adult-use market opening, we've brought additional equipment into our facilities that allow us to further supply the growing demand for Item 9 Labs' superior product offerings, while our phas...