Profits from the First Day of Sales to Benefit Loaves & Fishes – a Local Poverty-Fighting and Hunger Relief NFP.
Green Thumb Industries Inc. (CSE: GTII), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced the grand opening for adult-use cannabis sales at Rise Naperville (formerly 3C Compassionate Care Center) on October 8 which will include a ribbon cutting ceremony with Naperville Mayor Steve Chirico. Profits from the first day of adult-use sales will benefit Loaves & Fishes, a local poverty-fighting and hunger relief nonprofit agency. Rise Naperville is the first store to offer adult-use cannabis sales in Naperville, the third most populous city in the state, and will remain the only store in the city to serve medical patients.
"We have been proud members of the Naperville community since 2016 and will remain good neighbors, creating jobs and tax revenue and making a positive impact through our corporate responsibility programs," said Green Thumb Founder and Chief Executive Officer Ben Kovler.
We worked hard to offer adult-use cannabis sales in Naperville and are excited to meet new customers.Ben Kovler, CEO and Founder Green Thumb Industries
The store remains at its current address at 1700 Quincy Avenue and has been remodeled and expanded to ensure ample space to accommodate the current medical community as well new adult-use customers. Rise Naperville is technology-enabled with kiosks for quick ordering and pick up, and will continue curbside service for medical customers.
The company added 20 new positions to prepare for the onset of adult-use sales in Naperville and generated 15 construction jobs for work on the store's exterior and interior to accommodate additional customers and to complete the rebranding project.
A referendum to allow adult-use cannabis sales was passed by Naperville voters on March 17, 2020.
"The community has joined in thoughtful deliberation, a city-wide referendum, and consideration on all sides of the adult use recreational cannabis discussion," said Naperville Mayor Chirico. "In the end, we have demonstrated our commitment to fostering a dynamic business environment and expanded economic opportunity in our city. I look forward to celebrating the grand opening of Rise Naperville and welcoming adult use recreational cannabis to Naperville."
Nancy Wiersum, Executive Vice President of Advancement for Loaves & Fishes, said: "During the pandemic, Loaves & Fishes has seen a marked rise in the number of people needing help. It is only possible to serve nearly 1,000 families a week with healthy food and programs for self-sufficiency because of the support of our community. We are grateful for Green Thumb's generosity."
Rise Naperville is the eighth Green Thumb store to offer adult-use cannabis in Illinois, joining Rise Canton, Rise Effingham, Rise Joliet, Rise Mundelein, Rise Niles, Rise Quincy and 3C Joliet. Green Thumb has licenses to open two more stores in the state. As a vertically integrated company, Green Thumb also owns and operates two manufacturing facilities in Rock Island and Oglesby, both of which are undergoing capacity expansion to meet increased demand in Illinois with ample supply of its award-winning branded products, including Dogwalkers, incredibles, and Rythm.
In August, total cannabis retail sales in Illinois reached a record of more than $95 million, well exceeding $1 billion of legal cannabis sales on an annualized basis. Experts estimate the Illinois market potential is $2.5 billion after maturation.
To learn more about Green Thumb Industries, visit their company HQ here.
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