Cannabis producer gets OK
Last updated 1/15/2022 at 1:02pm
CLOVIS - A minority woman-owned firm based in Clovis is one of the first two firms in New Mexico to be licensed to grow and manufacture cannabis products, according to a news release from the New Mexico Cannabis Control Division of the New Mexico Regulation and Licensing Department.
The company is called Vana, LLC. Its founder and chief executive Parin Kumar, who lives in Albuquerque, said she chose Clovis as the location for the venture because it is a "rural community in need of economic impact."
In addition, Kumar said, she lived in Clovis with her family for 18 years, and her children attended Clovis High School.
She said Vana is leasing space in a Clovis building to house both growing and cannabis manufacturing processes. The license application include a business address of 3608 N. Prince, Suite E, and the manufacturing facility is located at 1020 Santa Fe in Clovis.
"It's going to be a state-of-the-art, high-tech" facility, she said. "We're going to use the most modern technology on the market."
She said she decided to enter the newly legalized cannabis industry in New Mexico because it represents a good business opportunity for "someone who is already an entrepreneur."
High profit margins for early growers and manufacturers, she said, have been a pattern in other states, and it's only speculation whether that will be the case in New Mexico.
"There has been a shortage (of supply) at first," she said, "and then it levels out."
New Mexico observers of the cannabis industry have predicted that demand for cannabis products will exceed supply in the early days of the industry, which will increase supplier prices and profits.
Construction at Vana's site is in early stages, a visit to the site revealed, but areas for growing and manufacturing have been laid out in blueprints.
Kumar stated that Vana is planning eventually to expand into retail sales, and expects to retain about 40 employees in its manufacturing and retail outlets, according to the CCD news release.
"We are so grateful for this opportunity to grow and manufacture cannabis and are looking forward to serving New Mexico," Kumar said in the news release. "We hope to educate fellow New Mexicans about the benefits of cannabis and provide a variety of consistent, high-quality products."
CCD did not identify the other growing and manufacturing licensee.
The state's first retail licenses went to two Albuquerque-based businesses, Enchanted Botanicals and Dulce Cannabis," the news release stated.
The adult-use cannabis industry is expected to bring in $300 million in sales each year, create 11,000 jobs and generate $50 million in state revenue in the first year alone, the CCD news release stated.
The state has set a goal of opening retail cannabis operations by April 1. Adult recreational cannabis became legal on June 29.
As of Wednesday, CCD stated it had received 285 cannabis business license applications, not including existing medical licensees.
All who successfully complete the licensing process will receive licenses, the CCD said. New Mexico is not limiting the number of licenses, the news release said.
The news release said the CCD had issued nine microbusiness licenses, two retail licenses, along with the two manufacturing licenses.
More information about applying for a cannabis license is available from the CCD website at http://www.ccd.rld.state.nm.us.