What will cannabis dispensaries, consumption sites and growing operations look like in the city of Jamestown?

Those questions won’t be answered until the state Office of Cannabis Management finalizes its regulations for dispensaries, consumption sites and growing operations.

While state officials work on how to regulate cannabis-related businesses, city officials are waiting patiently for the start of a new economic market that could generate additional revenue streams. They are also working to cultivate relationships with potential operators of dispensaries, consumption sites and growers.

“We have three to four dispensary operators who are ready to apply (for a license) when the time comes,” said Jamestown Mayor Eddie Sundquist. “We have a couple different growing operators who are still waiting for regulations. One is a large scale grower who is working on a contract to purchase a building. We have cooperative growers looking for space. A lot will rest with the regulations and how licenses will be handed out.”

Sundquist said he has been told several time tables of when the regulations might be finalized. He said once state officials have drafted their regulations, the rules will be made available for public comment first before they are finalized.

“My understanding is, from talking with folks with the cannabis board, that they are actively working on the regulations,” he said. “They are trying to make New York a model. Trying to learn from other states that have done this before. We continue to be hopeful that (the regulations) will be coming at some point, but we still don’t know when.”

As for possible dispensaries, Sundquist said city officials have been contacted by local pharmacies and shops that sell smoking devices like vaping businesses.

“We have also seen some interest from companies that currently have cannabis dispensaries in other states,” he said.

As for cannabis growers, Sundquist said city officials have been contacted by local growers of other products that might want to grow marijuana plants once it’s regulated. He said city officials have also been contacted by a large growing operator who is interested in vacant warehouse space.

“These spaces make for good growing operations. These growing operators are very scientific,” he said. “Many of these growing operators bring with them high-quality jobs like botanist and people working in laboratories who have a real scientific understanding of how to grow plants.”

During Sundquist’s State of the City address in January, he said the city’s cannabis-related economic development efforts have been featured in three national publications and multiple podcasts, and Jamestown is quickly becoming recognized as a future hub for the budding cannabis economy.

“From small co-operatives that feature many respected local businesses, to large, multi-million-dollar developments on an industrial scale, the cannabis industry in Jamestown will add hundreds of good-paying jobs,” he said. “New businesses have already bought millions of dollars worth of unused property to redevelop thousands of square feet of currently vacant and underutilized warehouse, manufacturing and commercial spaces. This will put properties back on the tax roll, which will be a piece in my goal of reducing the tax burden currently borne by residents. It is also estimated that within the first four years in operation, retail dispensaries in the city will generate upwards of $500,000 indirect tax revenue from cannabis sales.”

The sky might be the limit for the city when it comes to cannabis-related businesses. However, city officials will have to continue sitting in a holding pattern patiently waiting for state officials to regulate the new industry.

“We’re excited to see the opportunities,” Sundquist said. “It’s a whole new market we can bring to the city.”