Etain delays building medical marijuana plant in Glens Falls
GLENS FALLS — Etain’s project to build a plant at Tech Meadows for medical marijuana manufacturing is being delayed a year because the nature of the company’s business meant it was not able to get financing through a state agency.
The Chester-based company was not able to obtain a grant and loan through the Job Development Authority and is instead obtaining financing from a bank and putting more of their own equity into the project, according to lawyer Jon Lapper.
The Chester-based company still plans to buy a lot at the industrial park, which is located in both Queensbury and Glens Falls, for $210,000 and build a 16,000-square-foot plant on the site. It also plans to create the same amount of jobs. Company officials said previously they would hire 10 employees to start, with the hope of growing to 30 in the future.
“Nothing has changed except the timing,” Lapper told the Glens Falls Industrial Agency board on Thursday.