DENVER, Oct. 26, 2017 (GLOBE NEWSWIRE) — Five years after Colorado’s vote to legalize cannabis for recreational use, Colorado Harvest Company, a vertically integrated cannabis business with three dispensaries, continues to influence cannabis businesses to become positive forces in their communities.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c74621aa-c538-4247-aadd-35d07a6e776d
When Colorado voters passed Amendment 64 on Nov. 6, 2012, Colorado Harvest Company’s owners obtained two of Denver’s first 12 licenses to sell recreational cannabis. They planned a successful strategy to displace black market cannabis dealers and sustain theirs and other legal cannabis businesses through cooperation, transparency, leadership, philanthropy and good science. Tim Cullen, CEO, said that strategy has paid off well for the company, its customers and the community at large.
“For instance, cannabis businesses have inspired the revitalization of South Broadway, known as Denver’s Green Mile,” Cullen said. “Since we opened our doors as a medical dispensary in 2009, and then welcomed recreational customers in 2014, we have seen the area transition into an entertainment district with new restaurants, clubs and shops replacing closed storefronts.”
Highlights of Colorado Harvest Company influence:
- Experiences annual consistent double-digit growth— except for triple digit growth in 2014— enabling it to pay 2016 taxes on $10M in revenue in 2016; employed 78 individuals full time with less than 5% turnover.
- Ensures the community will enjoy 50 free concerts every year as a founding sponsor of Denver’s Levitt Pavilion by donating $100,000 and working with City leaders. Cullen is a member of the Levitt Pavilion Denver Board of Directors.
- Successfully passes hundreds of tests on purity and potency by the Colorado Department of Agriculture, assuring consumers that its cannabis is cleaner and safer than black market cannabis. In February 2017, Cullen led a delegation of Agriculture Department leaders from 22 states through his cultivation facility.
- Engages local businesses such as D’Amore Interiors, a firm established in 1980, which relocated to the Green Mile in 2013, to redesign and double the size of its retail store on South Broadway. In Sept. 2017, Gina Baurle, partner, D’Amore Interiors, won an honorable mention at the 20th Annual Colorado Awards for Remodeling Excellence (CARE) program presented by the Custom Builder & Remodeler Council (CBRC) of the Home Builders Association of Metropolitan Denver (HBA).
- Cullen shares best practices with government regulators, law enforcement and news reporters and speaks at industry events. Cullen is a founding member of Denver’s Marijuana Industry Group, the oldest and largest trade association for licensed cannabis businesses.
Jolon Clark represents District 7 on Denver City Council and works with cannabis businesses that operate in transitioning Denver neighborhoods.
“Despite a clear majority of voters being in favor of legalizing cannabis five years ago, there were still many people who had fears about what it would look like,” Clark said. “Responsible cannabis businesses like Colorado Harvest Company have been critical in allaying those fears and building public trust through their investments in the community, their dedication to transparency and following the rules, and their leadership in developing best practices for the industry.”