Cannabis investment firm purchases small town in California

Cannabis investment firm purchases small town in California

Logan Lowrey-Rasmussen

A cannabis investment firm recently purchased a small town outside the Nevada-California border with the goal of constructing a cannabis-friendly tourist destination.

Arizona-based company American Green made an offer of $5 million dollars to purchase the small town of Nipton, California, and is looking to invest as much as $2.5 million dollars over the next 18 months. The company seeks to revitalize the town’s economy by creating an energy-independent hub for cannabis-based products and a fully-licensed cultivation center.

The purchase includes 120 acres of land with a hotel, general store, a school building, and mineral baths. The company is also negotiating the purchase of a solar array to offset environmental impact.

“We thought that showing that there was a viable means of having a cannabis-friendly municipality and further making it energy independent could be a way of really inspiring folks to say, ‘Why can’t we do that here?” said project manager, Stephen Shearin.

Shearin hopes Nipton can be a model for other small towns across America by creating industry jobs in small town America.