Niagara is about to become a cannabis capital.
With the region’s prosperous horticulture industry, it’s no wonder that many greenhouses and agriculture professionals would want to turn to cannabis development and production.
The Niagara commercial real estate industry is currently bracing for a positive impact expected to occur with the legalization of marijuana later this year. As a result, the Niagara tourism industry is also looking for opportunities to explore these benefits.
Niagara Will be a Key Player in Cannabis Development
Many marijuana production companies are looking to Niagara as an ideal place to set their roots. The area is already known for its strong horticulture presence, with plenty of greenhouse space to grow a variety of crops.
The Niagara cannabis industry is estimated to potentially contribute at least $6 billion to the Canadian economy, if not more, after legalization.
Niagara College has even introduced a marijuana growing program to the horticulture department beginning this fall, which aims to help students learn to cultivate and produce the plant.
Cannabis Tourism
The Ontario and Niagara tourism industry is getting ready to see a major increase in commercial and industrial business opportunities. Currently, the governments are looking at various proposals, plans, and ideas that could embrace the new legal changes.
Industry leaders and experts have stated that this could be a great opportunity for commercial developments and businesses to capitalize on the rise in interest in the Niagara cannabis industry. For example, this could include anything from licensed marijuana lounges to designated consumption areas at hotels.
A cannabis-themed tour company is even looking at bringing their enterprise to Niagara, which will open a new stream of tourist revenue.
Considering Investing in Niagara Commercial Real Estate?
Now may be the perfect time to invest in a commercial real estate property in Niagara. You can stay ahead of the curve and be ready for the tourism boost when it happens. If you are looking for the perfect space, get in touch with an agent who can show you your options in the area.
