HOUSTON--(BUSINESS WIRE)--As Taylor Consulting, Inc. (OTCBB: TAYO) continues to review its list of potential commercial real estate acquisitions in Colorado, the state announced it has collected over $60 million in tax revenue from cannabis.
Cannabis is now entering its second year as a legal, recreational adult-use plant in the state. $40 million of the collected tax revenue has gone toward school construction and repairs. Other revenue has gone toward paying inspector salaries and the miscellaneous costs of running offices dedicated to regulating the plant’s use in the state.
The huge amount of tax revenue coming into Colorado is proof of the sector’s historic growth as TAYO continues taking steps toward securing commercial properties in the Denver area.
“Adult-use cannabis is making a huge economic impact in the state, and that’s exciting for us,” said TAYO CEO Scott Wheeler. “We’ve narrowed our list of potential commercial properties and will continue talks with realtors knowledgeable in both the market and the latest news in the state’s booming cannabis industry to determine the best commercial property to add to our evolving portfolio.”
TAYO is establishing itself as a forerunner in the commercial property market for states with pending adult-use cannabis legislation. Along with potential properties in Colorado, the Company is looking at potential properties in Nevada, where recreational adult-use cannabis is on the state’s ballot for 2016. The Company is also planning to scout New York, Vermont, and other states where adult-use cannabis legislation is a possibility.
For more information, visit www.ThirdAvenueDevelopment.com.
About Taylor Consulting, Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue Development, LLC as a new division whose primary goal is to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and others.
Third Avenue Development, a premier hybrid real estate and development, is building an emerging portfolio of real estate assets for investment, rehabilitation and resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace. For more information, visit www.ThirdAvenueDevelopment.com.
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