The sale of cannabis products is projected to add $60 million in tax revenues to Nevada’s economy annually through dispensaries and grow facilities. Cannabis sold in Nevada, for example, must be grown in Nevada. According to a 2016 projection from RCG Economics, that means that every dollar spent on retail marijuana yields $2.33 in economic output in Nevada. What’s more, the Nevada Dispensary Association recently conducted a survey that “show[s] marijuana businesses have made significant investments in their buildings since dispensaries started coming online in mid-2015.” According to an article published by The Nevada Independent, “The association [Nevada Dispensary Association] estimates there have been more than $280 million in real estate investments, which includes purchase and construction of buildings for their businesses and lease payments.” Projected to become one of the fastest growing industries in Northern Nevada, cannabis is also powering a new niche for Miles Construction.
The diversified general contracting company has completed nearly $25 million dollars in cannabis projects with another $45 million dollars’ worth of projects either in the design or permitting phase. Working with entrepreneurs and cannabis leaders from across the country has helped Miles Construction develop expertise that other contractors can’t claim.
A facility located just to the east of Sparks is slated to open later this quarter and will serve as a flagship property for MedMen. MedMen’s cultivation and production facility, a 26,000-square-foot state-of-the-art greenhouse and the 19,000-square-foot extraction and production wing, includes a high-tech test lab focused on quality control. The project, which employs nearly 200 during the construction phase and 50 when fully operational, is expected to produce 10,000 pounds of cannabis annually. “Our McCarran facility is a shining example of what is possible when smart capital and industry expertise come together,” Adam Bierman, MedMen’s chief executive officer and co-founder, said. “We look forward to making this a show piece for Nevada, the cannabis industry and our company and we look forward to working closely with the local community.” This nationally known and innovative industry leader is now making an international leap by preparing to go public in Canada in the early in the second quarter of 2018, this according to Bierman, making it one of the largest listings on the Canadian Securities Exchange.
“Cannabis specific construction projects come with their own unique set of challenges and requirements which include complying with ever evolving state regulations. As such, our projects and our company have become experts in this arena,” Cary Richardson, vice president and senior project manager for Miles Construction, said. “Cannabis projects require highly-targeted, highly-scientific planning to ensure that the facilities meet, maintain or exceed the industries stringent rules and regulations while keeping in step with the incredibly fast paced development of industry specific products. In fact, Miles recently complete a facility for SRENE’s sophisticated, highly regulated grow operation that includes over 100,000 square feet of usable manufacturing space and has been outfitted with fully-automated nutrient-enrichment, irrigation and environmental control systems to support commercial scale cultivation activities.”
In Verdi, Miles is breathing new life into an old, dated warehouse that has been shuttered for nearly a decade. Bringing their distinctive brand of planning, design and coordination to the project, Miles Construction is upgrading SRENE’s facility with the latest technology and functionality required for a fully operational cannabis facility.
Over the last few years, through continued design and construction of cannabis facilities, Miles has elevated its knowledge and expertise in the construction of complex commercial cultivation and production and extraction facilities and, as the demand for these types of facilities expands in Nevada, the company doesn’t see that changing.
For more information on Miles Construction, visit online at MilesConst.com.
Founded in 1986 in Carson City, Nevada, Miles Construction has been synonymous with expert building in the Northern Nevada region for 30 years. Miles is a diversified general contractor at the forefront of building trends such as construction management, sustainable construction as well as design-assist and pre-engineered steel systems.