This summer, Canada will become the second country after Uruguay to legalize marijuana at the federal level, which has driven a boom in the local cannabis industry, according to Bloomberg.
Smiths Falls, Ontario - population 8,885 - is seeing a revival of fortunes since medical marijuana producer Tweed Inc. set up shop four years ago in an abandoned Hershey Co. chocolate factory. The company, since renamed Canopy Growth Corp., has become the world’s largest publicly traded cannabis producer and is the town’s largest private-sector employer.For Smith Falls, Canopy’s arrival heralded a boom in younger people moving to the town, located about 75 kilometers (47 miles) southwest of Ottawa. There are sometimes bidding wars on homes. New businesses are arriving. And commercial property is seeing renewed interest. Canopy, formerly known as Tweed Inc., took over an old Hershey factory to build a giant growing operation for medical marijuana. How’s that for symbolism?