San Luis, CA--SLOCAL Roots, a family of vertically integrated cannabis companies on California's Central Coast, announced in a news release a $6 million estimated economic impact in the San Luis Obispo region during its first year.
The city's newest cannabis dispensary contributed $3.1m in economic output, approximately $240k in city and county tax revenue, $950k in employment and household earnings, and consumed over $1.6m in local services. SLOCAL Roots staff volunteered 360 hours at local non-profits, all fully compensated by the Company.
"We hope to see our economic impact in San Luis Obispo double in 2023. We are opening our 5,000 square foot expansion soon and hope to find even more opportunities to engage with the SLO community," Austen Connella, CEO and Founder of SLOCAL Roots, said in the news release
SLOCAL Roots participates in California Senate Bill 34, the "Dennis Peron and Brownie Mary Act," allowing cannabis companies to donate cannabis to eligible patients. The company has distributed over one thousand compassionate-use products to regional patients through its SB-34 participation.
SLOCAL Roots dispensary at 3535 S. Higuera St. in San Luis Obispo opened on March 22, 2022. The store has 14 full-time employees, 91% of whom are San Luis Obispo County residents, all paid 40% above the median local income for similar retail positions. More than 80% of all supplies and services consumed by the store are sourced within 90 miles of its location.
Learn more in this release.