In case you missed it, marijuana company American Green Inc. just purchased an entire town.
As the legal marijuana industry continues to expand, marijuana companies across the nation are looking for ways to not only profit, but to also support the communities they serve.
One way to do this is to create an entire town dedicated to cannabis.
This town serves two purposes: generate interest and revenue for the marijuana company, and provide an eco-friendly oasis for cannabis consumers - and the community.
Take a moment to learn about Nipton, Calif....
Giving the "Green Rush" a Boost
On Aug. 3, cannabis technology and growing firm American Green Inc. bought a 120-acre town called Nipton for a rumored $5 million.
This investment represents a broader trend of integrating marijuana into the communities in which it is sold.
Not only did the company purchase the town, but it also acquired its Old West-style hotel, a handful of horses, an RV park, and a coffee shop, according to an Aug. 4 report from Business Insider.
American Green's mission: to turn the small, nearly deserted town into an eco-friendly cannabis paradise.
The company plans to make Nipton the country's "first energy-independent, cannabis-friendly hospitality destination," according to a statement.
Visitors will find mineral baths, lodging, marijuana retail outlets, and "a first-of-its-kind eco-tourism experience for conscious cannabis consumers," according to a report from CNN.
The company also plans to provide cannabis-infused water from the town's flowing aquifer.
You see, these moves are not only eco-friendly, but also profitable.
Special Report: Cannabis Is the Gold Rush of the 21st Century - 30 Stocks to Invest in Now. Details here...
And according to Business Insider, the company plans to expand.
"The buyers are also reaching out to edibles manufacturers and other pot-industry businesses, hoping they'll be interested in relocating to Nipton and bringing jobs with them," reported BI.
"We are excited to lead the charge for a true Green Rush," said David Gwyther, American Green's president and CEO. "The cannabis revolution that's going on here in the U.S. has the power to completely revitalize communities in the same way gold did during the 19th century."
And American Green is not the first cannabis company to realize the potential of investing in the communities they reside in...
The Marijuana Industry's Newest Mission
Earlier this month, Summit Medical Marijuana, a small dispensary in Maine, launched a "day of service" in the town of Gardiner.
The cannabis company offered residents who collected trash around the area free marijuana to anyone over the legal age of 21.
The results were amazing.
Dozens of community members came together for the event, collecting heaps of trash and debris.
But for Dennis Meehan, the dispensary owner and organizer of the event, it was always about more than just gaining new customers. The day of service wasn't just about cleaning up the town, but also educating people about what he says is a life-changing substance.
"We're in talks with other states to get all dispensaries to do the same thing," said Dennis to us on July 26. "Our people need this."
"We need to get over the stigma and all of the misinformation," added Dennis. "I'm passionate about helping people, and [marijuana] could really help them."
Indeed, over 687 million people worldwide could benefit from medical marijuana treatments, according to a 2015 report from Medical Marijuana Inc.
But it's not just medical marijuana patients who could benefit from cannabis legalization...
The marijuana industry as a whole is set to receive a huge boost thanks to more states passing marijuana legislation.
By 2020, experts predict the marijuana industry will hit an estimated $35 billion.
And many analysts now believe the industry could eventually reach $150-200 billion each and every year. That's more than a 400% increase.
Here's how you can get in on the action...
How to Become a Pot Stock Millionaire
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