Four cannabis dispensaries coming to Redwood City
Redwood City has awarded cannabis licenses to four cannabis dispensaries:
Juva Retail RWC Inc at 2301 Broadway
-Responsible and Compliant Retail Redwood City LLC at 1870 Broadway
-Runway Services Inc at 928 Whipple Ave
-MMD Redwood City Inc at 1764 Broadway
These will mark the first licensed dispensaries in the San Mateo County city.
Sean Kali-rai, founder and president of the Silicon Valley Cannabis Alliance, praised the groundbreaking awards, calling them “a great step forward.”
“There really was no retail cannabis between San Francisco and San Jose along the 101,” Kali-rai said, as quoted by The Almanac. “California is littered with cannabis deserts — areas that voted for cannabis but for some reason or another don’t have it. I think it’s really meaningful that in San Mateo County, it’s not a desert anymore.”
Revenue from the storefronts is projected to range between $500,000 to $750,000 in the first year, according to the city. In addition to the 15% excise tax and the 10% sales tax, there is a 4% general tax on all gross receipts that will be paid directly to the city.