The Kapuskasing Economic Development Corp. (EDC) and CannAssist Canada Inc. have reached an agreement to construct a medical marijuana facility at the town’s airport.
In a Dec. 5 news release, the town said construction of the facility will create full-time jobs, $3 million in annual income for more than 60 families, and an estimated $12.5 million in associated economic benefits.
Kapuskasing Mayor Al Spacek said the development would have “a significant, positive economic impact on our community.”
“The CannAssist application to Health Canada has successfully completed the initial review process and confirmation of readiness to build the facility was received on Nov. 20, 2017,” Spacek said in the release.
“With the increased efficacy of marijuana for several medical conditions and the legalization of recreational marijuana approaching fast, we are perfectly positioned to become a key player in the industry and to contribute in a positive way to the evolution of this new and burgeoning industry.”
Janice Britton, CEO of CannAssist Canada, praised the supportive and progressive thinking of Spacek, the CAO and town council for helping to bring the agreement into being, and said the town would have an “equity position in the company.”
“CannAssist aims to work with economically challenged communities through the development of additional public-private partnerships to create new jobs and economic growth for towns and municipalities all over Canada,” Britton said.
“We sincerely believe that the private sector can work collaboratively with and benefit the local communities in which they are located to a much greater extent than they currently do. We believe our model of public-private partnership is a key differentiator and offers Canadians a tremendous value proposition. When you do business with CannAssist, you are creating jobs and economic growth for communities all over this great country of ours.”
An official memorandum of understanding will be signed on Dec. 28 in Kapuskasing.
The agreement has been in the works since 2014.
The plan calls for a 29,000-square-foot, highly secure, medical-grade facility, which the town would build with money from its coffers and then lease back to CannAssist.
