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A Colorado man wants to spend millions of dollars to convert a former industrial paint factory in Watertown into a large-scale growing operation for medical marijuana.
Ethan Ruby, 38, said plans hinge on whether he gets one of the limited number of state licenses to produce medical marijuana in Connecticut. The state could start accepting applications from would-be growers this fall for approval as early as the end of this year.
"Everything is pending this approval," Ruby said. "Nothing is a foregone conclusion."
If the state agrees to give Ruby a license, and he gets the necessary approvals to proceed from town officials, his company, Theraplant, is interested in buying a 63,443-square-foot building at 856 Echo Lake Road. The 10-acre property in the Watertown Industrial Park is about 1.8 miles from Exit 37 off Route 8.
The property is listed for $2.5 million and Theraplant has signed a letter of intent to purchase it, although Ruby said he is negotiating the price.
The building was used by PPG Industries Inc. to make specialty coatings for the utility industry and other PPG plants, said PPG spokesman Jeremy Neuhart. PPG bought the building in 1997 from Keeler & Long, which was a distributor of industrial anti-corrosive coatings. Keeler & Long built the facility in 1973.
Theraplant has $750,000 from angel investors and early approval for $7 million in additional funding if the company gets a license to grow medical marijuana in Connecticut, Ruby said. Ruby would spend $2 million on renovations at the start of the operation and then, potentially, another $2 million, depending on demand.
In addition to spending for renovations, Ruby confirmed that he will likely spend $800,000 to $1 million on lighting and other assets to grow marijuana. He co-owned a marijuana growing and distribution operation in Colorado for 3 1/2 years after making money in real estate and as a day trader.
"I would put our grower up against anyone," Ruby said.
He advocates medical marijuana and he deals with chronic pain related to an accident in November 2000. While living in Manhattan, he was crossing the street, legally, when crashing cars struck him and paralyzed him from the chest down. Ruby is a husband and father of two children, who are 4 and almost 2.
He is also an entrepreneur who graduated with a psychology degree from the University of Pennsylvania in 1997, where he took electives at The Wharton School of business. Ruby plans to bring in experts from the pharmaceutical field and packaging industry. Unmarked vehicles would deliver the marijuana from his growing operation to dispensaries, where customers could buy pot.
Ruby believes he'd need 50 employees once the business is operational, with as many as 150 workers if the demand supports it.
If the Watertown facility becomes a major marijuana-growing operation, Ruby's first priority is safety of his employees and product, he said. The building will have around-the-clock security, rooms that can be accessed only with security cards, a safe, and video cameras inside and out, among other measures.
An Emerging Industry
Medical marijuana as an industry in Connecticut could take shape quickly. The state has yet to license growers or sellers, which it calls "dispensers," but if the process goes smoothly, some growers could be harvesting next summer and shops could be selling to patients.
Demand is a lingering question. So far, 660 patients have been certified by doctors and 450 of those are registered with the state Department of Consumer Protection, while the remaining 210 are in the registration process as of Friday. Ruby anticipates there could be as many as 150,000 patients once the marketplace is established and fully grown.
All patients must be at least 18 years old, and there are restrictions about where marijuana can be consumed and what medical conditions a person must have in order to register as a legal purchaser of medical marijuana.
Connecticut has a deliberate and well-thought-out process for regulating marijuana like any other pharmaceutical drug, Ruby said. It's those well-drafted regulations that allow a level playing field for potential growers, he said, and that's why he is attracted to moving to Connecticut
As a part of the law approved in May 2012, Connecticut may have between three and 10 marijuana producers once regulations are written by the state Department of Consumer Protection and approved by a group of state legislators.
Separately, the marijuana will be sold at dispensaries, the number of which is up to Commissioner of Consumer Protection William M. Rubenstein. The marketplace has been set up to be monitored "as any other controlled medical substance," Rubenstein said.
"We reached out to a lot of different states," he said explaining how the department established regulations.
He said about a dozen would-be growers have spoken to the state Department of Consumer Protection about the licensing process. It's not clear how many licenses the department will issue. The required minimum is three, to foster competition, and it's possible the state won't issue the maximum of 10 at the beginning of the process.
Ruby also has to meet municipal planning and zoning requirements. Neither Watertown's town manager nor the economic development coordinator returned phone calls Friday. However, the town has been supportive, Ruby said, and he had high praise for Watertown's economic development coordinator, Joseph Seacrist.
At least one neighboring business in the Watertown Industrial Park was unfazed by the possibility of having a medical marijuana operation nearby.
"I don't really have an opinion," said Tom Ordway, CEO of Braxton Manufacturing Co., which makes metal eyelets. "I know there's a need for it."
The industrial park is big enough for each business to operate without interference from its neighbors, Ordway said.
"And it's a shame to have a building empty," he said.
News Hawk- Truth Seeker 420 MAGAZINE ®
Source: courant.com
Author: Matthew Sturdevant
Contact: Contact Us - Courant.com
Website: Marijuana Growing Facility: A medical marijuana-growing facility has been proposed for Watertown - Courant.com
Ethan Ruby, 38, said plans hinge on whether he gets one of the limited number of state licenses to produce medical marijuana in Connecticut. The state could start accepting applications from would-be growers this fall for approval as early as the end of this year.
"Everything is pending this approval," Ruby said. "Nothing is a foregone conclusion."
If the state agrees to give Ruby a license, and he gets the necessary approvals to proceed from town officials, his company, Theraplant, is interested in buying a 63,443-square-foot building at 856 Echo Lake Road. The 10-acre property in the Watertown Industrial Park is about 1.8 miles from Exit 37 off Route 8.
The property is listed for $2.5 million and Theraplant has signed a letter of intent to purchase it, although Ruby said he is negotiating the price.
The building was used by PPG Industries Inc. to make specialty coatings for the utility industry and other PPG plants, said PPG spokesman Jeremy Neuhart. PPG bought the building in 1997 from Keeler & Long, which was a distributor of industrial anti-corrosive coatings. Keeler & Long built the facility in 1973.
Theraplant has $750,000 from angel investors and early approval for $7 million in additional funding if the company gets a license to grow medical marijuana in Connecticut, Ruby said. Ruby would spend $2 million on renovations at the start of the operation and then, potentially, another $2 million, depending on demand.
In addition to spending for renovations, Ruby confirmed that he will likely spend $800,000 to $1 million on lighting and other assets to grow marijuana. He co-owned a marijuana growing and distribution operation in Colorado for 3 1/2 years after making money in real estate and as a day trader.
"I would put our grower up against anyone," Ruby said.
He advocates medical marijuana and he deals with chronic pain related to an accident in November 2000. While living in Manhattan, he was crossing the street, legally, when crashing cars struck him and paralyzed him from the chest down. Ruby is a husband and father of two children, who are 4 and almost 2.
He is also an entrepreneur who graduated with a psychology degree from the University of Pennsylvania in 1997, where he took electives at The Wharton School of business. Ruby plans to bring in experts from the pharmaceutical field and packaging industry. Unmarked vehicles would deliver the marijuana from his growing operation to dispensaries, where customers could buy pot.
Ruby believes he'd need 50 employees once the business is operational, with as many as 150 workers if the demand supports it.
If the Watertown facility becomes a major marijuana-growing operation, Ruby's first priority is safety of his employees and product, he said. The building will have around-the-clock security, rooms that can be accessed only with security cards, a safe, and video cameras inside and out, among other measures.
An Emerging Industry
Medical marijuana as an industry in Connecticut could take shape quickly. The state has yet to license growers or sellers, which it calls "dispensers," but if the process goes smoothly, some growers could be harvesting next summer and shops could be selling to patients.
Demand is a lingering question. So far, 660 patients have been certified by doctors and 450 of those are registered with the state Department of Consumer Protection, while the remaining 210 are in the registration process as of Friday. Ruby anticipates there could be as many as 150,000 patients once the marketplace is established and fully grown.
All patients must be at least 18 years old, and there are restrictions about where marijuana can be consumed and what medical conditions a person must have in order to register as a legal purchaser of medical marijuana.
Connecticut has a deliberate and well-thought-out process for regulating marijuana like any other pharmaceutical drug, Ruby said. It's those well-drafted regulations that allow a level playing field for potential growers, he said, and that's why he is attracted to moving to Connecticut
As a part of the law approved in May 2012, Connecticut may have between three and 10 marijuana producers once regulations are written by the state Department of Consumer Protection and approved by a group of state legislators.
Separately, the marijuana will be sold at dispensaries, the number of which is up to Commissioner of Consumer Protection William M. Rubenstein. The marketplace has been set up to be monitored "as any other controlled medical substance," Rubenstein said.
"We reached out to a lot of different states," he said explaining how the department established regulations.
He said about a dozen would-be growers have spoken to the state Department of Consumer Protection about the licensing process. It's not clear how many licenses the department will issue. The required minimum is three, to foster competition, and it's possible the state won't issue the maximum of 10 at the beginning of the process.
Ruby also has to meet municipal planning and zoning requirements. Neither Watertown's town manager nor the economic development coordinator returned phone calls Friday. However, the town has been supportive, Ruby said, and he had high praise for Watertown's economic development coordinator, Joseph Seacrist.
At least one neighboring business in the Watertown Industrial Park was unfazed by the possibility of having a medical marijuana operation nearby.
"I don't really have an opinion," said Tom Ordway, CEO of Braxton Manufacturing Co., which makes metal eyelets. "I know there's a need for it."
The industrial park is big enough for each business to operate without interference from its neighbors, Ordway said.
"And it's a shame to have a building empty," he said.
News Hawk- Truth Seeker 420 MAGAZINE ®
Source: courant.com
Author: Matthew Sturdevant
Contact: Contact Us - Courant.com
Website: Marijuana Growing Facility: A medical marijuana-growing facility has been proposed for Watertown - Courant.com
