Editor’s Note: “The Economic Development Side” originally appears in the Pine Bluff Regional Chamber of Commerce’s weekly member e-newsletter. It is written by Rhonda Dishner, the Economic Development Alliance’s executive assistant.
The economic development side of the Alliance building has experienced a rush of prospect activity over the past three months. This was in addition to normal project contacts.
The concentrated push for building and site information was generated by the state’s new medical marijuana industry springing from statewide voter approval last November. Or more specifically by individuals and investor groups hoping to secure one of the limited number of cultivation or dispensary licenses that could be issued by late this year by the Arkansas Medical Marijuana Commission. Each application must be tied to an identified property.
Competition is intense because only five cultivation facilities will be licensed statewide, along with 32 dispensaries spread out over eight “zones” that encompass the entire state.
Dozens of project groups have asked for information about Pine Bluff and Jefferson County. Many of them have optioned potential sites here, and several also added their pledge to be supportive of the community if their businesses get licensed.
Arkansas has developed strict policies governing this industry and related facilities. The application process itself also is stringent, and full consideration and scoring of the submitted applications is expected to take several months. By statue, the state has 120 days to announce the results of its review. Sept. 18 is the deadline to apply.