Beloit Day-to-day News – News, South Beloit in operating for cannabis operation

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SOUTH BELOIT – Significantly less than 4 months prior to cannabis is set to be legalized in Illinois, the City of South Beloit could be in the operating for a prospective cannabis dispensary place, according to South Beloit Mayor Ted Rehl.

Rehl mentioned MedMar, a Rockford dispensary owned by multi-state cannabis corporation Cresco Labs, is hunting to expand potentially on land just off of Interstate 39/90 in South Beloit.

Rehl mentioned the city is at present in negotiations, and mentioned Thursday the municipality is hoping to have a final answer on the project this fall.

“There is a true prospective for us,” Rehl mentioned. “It could or could not be great for us, but it is all about the negotiations. We will see what takes place.”

Rehl mentioned Thursday corporation officials will not disclose the final place, at present among numerous northern municipalities such as Roscoe and Machesney Park, till state permits have been authorized, Rehl mentioned.

Rehl estimated a choice by the corporation could come Sept. 1.

“Till they get these carried out, they are not producing an announcement,” Rehl mentioned.

Considering the fact that the legalization bill was passed in June, South Beloit has received numerous improvement inquires about opening a dispensary, Rehl mentioned.

South Beloit could impose a three% sales tax on all cannabis sales, in line with the new legislation’s recommendations for regional manage of future cannabis-associated enterprises.

MedMar was acquired by Cresco Labs in December of 2018. In April, Cresco Labs received approval from the Illinois Division of Economic and Qualified Regulation for the Rockford dispensary and a Chicago place. In addition to its 5 dispensaries in Illinois, Cresco operates 3 cultivation and processing facilities across the state.

Representatives for MedMar and Cresco Labs could not be reached for comment.

Cannabis will be recreationally legal Jan. 1 in Illinois.



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