Coalinga (CA) Mayor Says City Real Estate Booming After Commercial Cannabis Growing Approved

March 13, 2017
Business and finance News State by State: California

COALINGA, CA -- The city of Coalinga is seeing big growth in real estate after voters in November approved commercial cannabis cultivation.

Coalinga's mayor says commercial properties are being bought up so quickly that the fees collected are helping relieve the city of its crippling debt.

It has been four months since voters in Coalinga voted to allow medical marijuana cultivation, and Coalinga mayor Nathan Vosburg is thrilled about the economic outcome it is already starting to bring.

"Things are looking good," he said. "We've had a great start, and we expect to continue."

That's because the city sold the Claremont Custody Center to Ocean Grown Extracts -- a company that plans to turn the prison into a cannabis manufacturing facility.

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