[PRESS RELEASE] – CHICAGO, March 10, 2025 – Cresco Labs Inc., the trade chief in branded hashish merchandise with a portfolio of The us’s most well liked manufacturers and the operator of Sunnyside dispensaries, introduced its control services and products settlement with a Tier 3 cultivation license in Kentucky. The settlement entitles Cresco Labs to control and function a cultivation facility with as much as 25,000 sq. ft of cover, marking an important milestone for the corporate and setting up Cresco Labs as one among best two operators of Kentucky’s coveted Tier 3 cultivation licenses.
“I look ahead to appearing Kentucky citizens why Cresco Labs’ portfolio is the most well liked selection in each scientific markets like Pennsylvania and adult-use markets like Illinois,” Cresco Labs CEO Charlie Bachtell stated. “The cultivation license permits for the development of a state of the art cultivation facility with as much as 25,000 sq. ft of cover, enabling us to ship the standard and scale we’re recognized for. We’ve spent the final two years interested by solidifying the core and lengthening our loose money float. Kentucky is our first of many alternatives to reinvest that loose money float again into top ROIC expansion projects as we proceed increasing into new markets.”
Kentucky’s scientific hashish program, introduced on Jan. 1, 2025, represents an important milestone for the state. This system features a most of 115,000 sq. ft of authorized cover house and 48 retail licenses, with trade analysts forecasting the marketplace to generate greater than $135 million in earnings by way of 2026, rising to over $228 million by way of 2028. The cultivation license positions the corporate at the leading edge of this burgeoning marketplace, with the chance to form its expansion and luck.
