Derek Peterson, president and CEO of Terra Tech Corp., a California-based company, plans to enter the ring in the battle for licenses to grow and sell medical marijuana in New York.
Peterson, whose company has about $7 million in total revenue and 100-plus employees, already owns marijuana dispensaries in California. The business also recently secured eight permits to operate dispensaries in Nevada.
He started the business in 2010, when he left a career on Wall Street to cash in on the marijuana rush, which Peterson says remains at least a few years off for New York due to the state's restrictive medical marijuana law.
