A Colorado-based cannabis company has killed plans for a facility in New York due to the state’s slowly developing legal market.
In October 2021, Terrapin announced plans to open a new cannabis facility in Auburn, New York, bringing 100 new jobs to the area.
The plans were announced shortly after recreational cannabis was legalized in the state.
But now Terrapin said it’s canceling the facility due to “painful delays” in the state’s legal marketplace, according to The Citizen.
Peter Marcus, vice president of communications for Terrapin, also blamed dispensary license lawsuits for the holdup.
"Terrapin was very hopeful the New York cannabis market would be an exciting opportunity in one of the most dynamic markets in the country," he told The Citizen.
"Unfortunately, we have watched implementation of the program crippled by painful delays and lawsuits. Ultimately, cannabis retail has not launched adequately to justify entering the market with a production facility at this time."
