(Bloomberg) – American Green Inc., a maker of cannabis products, is taking an unusual step to attract new customers as it capitalizes on California legalizing marijuana: It’s buying an entire town.
The company has acquired the tiny burg of Nipton, California, for about $5 million and plans to invest as much as $2.5 million over the next 18 months to create a pot-friendly tourist destination. The purchase includes 120 acres of land with a general store, a hotel, a school building and mineral baths.
American Green, based in Tempe, Arizona, will use the existing structures and build new ones -- powered by renewable energy -- to revitalize the town, said project manager Stephen Shearin. Ideally, the outpost will spawn imitators, he said.
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