Ulster IDA accepts application for Ellenville cannabis manufacturing facility

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ELLENVILLE – The Ulster County Industrial Development Agency, Wednesday, accepted the application for financial incentives that if approved will pave the way for a large-scale medical and adult use cannabis manufacturing facility on the former Schrade industrial site in the Village of Ellenville and Town of Wawarsing.

IDA Board Chairman Jim Malcolm believes the project will put that area of Ulster County back on the map.

“I remember Ellenville 40 years ago and 45 years ago when it was thriving, a lot of business going on there – community, the Nevele, other things, and quite honestly, you just see it dying on the vine the last 10 or 15 years, clearly,” he said. “This is a huge project and the ripple effect, I’m sure, is going to be felt for years and years.”

A 300,000-square foot facility would be constructed on the property at a cost of $209 million to be used for cannabis cultivation, manufacturing and distribution of cannabis products that would be sold at the company’s dispensaries.

The company Cresco U.S. Corp. through its licensed affiliate, Valley Agriceuticals, LLC, is seeking a 15-year payment-in-lieu-of-taxes agreement as well as sales tax exemption on building materials and an exemption on the mortgage filing fees. The company would pay $29 million in the PILOT agreement.

Over a three-year period, the company estimates creation of 375 full-time equivalent jobs with salaries starting slightly above the average pay in the area and increasing.

An estimated 100 construction jobs would be created with construction beginning this summer and concluding in April 2024.

The more than 90-acre parcel has been dormant for years with much of it returning to its natural wooded state including wetlands.

Company officials presented the proposal to the IDA board on Wednesday.

 




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