EAST LIVERPOOL, Ohio (WKBN) — A multi-million dollar loan has been issued for a marijuana grow facility in Columbiana County.
Chicago commercial real estate finance company Atlantic Real Estate Finance, Inc. has approved a $34 million loan for Pennsylvania-based FARMACEUTICALRX to build a growing and post-harvest facility in East Liverpool.
The 10,000 square foot facility will complement a dispensary currently operated by FARMACEUTICALRX in the city.
“We continue to believe that Ohio is a very attractive limited license state and the right market for us. We are delighted to partner with the Chicago Atlantic team who believe in our strong cash flow generation and revenue and profitability prospects. We are committed to growing and producing premium organic, artisanal medical marijuana products for our loyal customers and to being disciplined stewards of capital for our shareholders, said Rebecca Myers, CEO and Founder of FARMACEUTICALRX.
The new facility promises to bring jobs to east Liverpool, but no exact figures have been released.
Two addresses are listed as FARMACEUTICALRX sites in East Liverpool, one on Dresden Avenue and the other on Harvey Avenue.
Another facility operates on Martin Luther King Blvd. in Farrell, Pennsylvania.