Binghamton Mayor Jared Kraham Announces Plans for Cannabis Business
In a press release on Wednesday, City of Binghamton Mayor Jared Kraham announced an option agreement for future cannabis business development at Charles Street Business Park in Binghamton's First Ward.
The press release announced that STIIZY, a Los Angeles-based cannabis brand, will enter into an option-to-purchase agreement for 8.2 acres of vacant land on Charles Street in Binghamton. The company is currently the leading seller of cannabis in the United States in 2022 as well as the leading provider of market research solutions for the global cannabinoid industry.
The Binghamton Local Development Corporation currently owns the undeveloped and shovel-ready land that will host STIIZY, and the agreement will allow the company to obtain state licensing for the facility as well as begin the environmental review process.
In his press release, Mayor Kraham stated "Cannabis represents a new frontier in economic development and community revitalization in Upstate New York, and Binghamton is on the cutting edge. This option agreement will allow STIIZY to apply for state licensing and advance plans for a Binghamton facility. the company's future project would create jobs and new economic activity in our community, and be one of the first major economic development projects for cannabis in New York State."
STIIZY will vote on the option agreement at an upcoming meeting next week.
Tak Sato, President of STIIZY, stated "Binghamton would be an ideal location to build out the type of world-class facilities we've developed in California, and we hope to be able to make a significant investment in new construction and good-paying jobs at the Charles Street Business Park.