Nipton, Calif. – A cannabis company is making a big investment in marijuana tourism by purchasing an entire town.
Bloomberg reports American Green Inc. bought Nipton, California for around $5 million.
The company plans to invest millions to transform the tiny town into a pot-friendly tourist destination.
Arizona-based American Green Inc. now has 120 acres of land, including a school, hotel and general store.
The former mining town, located in San Bernardino County near the Nevada border, currently has a population of around 20.
The project’s manager, Stephen Shearin, said he expects the company’s acquisition will be profitable as recreational marijuana gains wider acceptance.
He said, “The Gold Rush built this city. The Green Rush can keep it moving the way people envisioned it years ago.”
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