Listen Now: Nipton
American Green, a marijuana focused technology company has bought the town of Nipton, California with plans to turn it into a pot-tourism destination. Located in San Bernardino County the town has a population of six people and was snatched up for the price of $5 million.
The sale includes more than 120, all properties and a working solar farm. The company says it envisions a pot paradise where people can tour a marijuana farm, shop in dispensaries and stay at a weed friendly bed and breakfast. A consultant working on the project says the idea is to create a place where people can come and experience the drug which is still considered illegal under federal law.
American Green says it’s committed to keeping the existing businesses in Nipton open which include a general store and a five room hotel. Some of the six current residents may also be given jobs in the new business venture. Now they just need to start growing; weed and customers.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.