Holistic Industries Invests $20M in Madison Heights for Michigan Headquarters

Posted at 3:50 PM, Dec 09, 2019
and last updated 2019-12-09 15:54:14-05

MADISON HEIGHTS, Mich. (AP) — Holistic Industries, one of the largest and fastest-growing private vertically-integrated cannabis operators in the United States, today announced that it will make a $20 million investment in Madison Heights for its Michigan headquarters.

The investment includes transforming the currently neglected property at 29600 Stephenson Highway, the vacant Fairlanes Bowling property, into a beautifully landscaped, environmentally friendly source of pride and an engine of economic development for the city and its residents.

Holistic Industries will soon break ground on the 65,000 square foot medical cannabis cultivation, processing and provisioning center. The facility will house Holistic's flagship retail location, which will be a desirable destination for customers and patients from across the metro Detroit area and the state of Michigan.

"Madison Heights has made great strides to increase economic development in the community, and with the cannabis industry in Michigan about to explode, we are thrilled Holistic Industries chose our city for their headquarters," said Mayor Hartwell. "We've seen Holistic's operating model in other locations and the positive impact they have on those communities, which is why we trust them to transform, beautify and revitalize a property that is currently a detriment to Madison Heights."

"I've seen the commitment Holistic has made to the communities they are a part of through local hiring, charitable giving, local law enforcement support, and earmarking annual contributions for continued economic development," said Jeremy Moss, State Senator, Michigan's 11th District, Representing Southern Oakland County. "I'm impressed by their economic development plans for the five-acre site on Stephenson Highway."

In addition to the beautification of the property and its surrounding area, Holistic Industries is committed to improving the communities they serve. Once the facility is close to completion there will be an emphasis on local hiring and training with more than 50 job openings for both hourly and salaried employees that include attractive benefits packages. As part of the company's investment in the community, Holistic will also establish the Reaching New Heights community investment fund to support local organizations and projects that will further the goals and priorities of the Madison Heights community.

"Through our partnership with Holistic Industries on the Reaching New Heights investment fund, we have a partner with whom we can address the most pressing needs in the community," said Roslyn Grafstein, Mayor Pro Tem, Madison Heights. "From planting trees and other city beautification initiatives to providing cannabis education and community support, Holistic's investment in our city is a giant step forward in the continued economic development of Madison Heights."

Holistic has engaged local business and civic leaders as well as the local chamber of commerce, which have provided support and expressed excitement for the new facility. Holistic intends to host community events to help educate the people of Madison Heights on the project.

"We started as a family business and have those values at our core, which is why we wholeheartedly embrace the Madison Heights' slogan, 'This is Home,' and now consider ourselves part of the Madison Heights community," said Josh Genderson, CEO of Holistic Industries. "We are excited to share in the pride of Madison Heights as we transform this site from a dilapidated space to a community show piece."

Under the current plan, Holistic estimates the project to take 12 – 18 months to complete. Holistic will start demolition this week with the ground-breaking and build-out to follow. They expect to have the retail portion of the facility open in late summer 2020 with production and processing to follow. When open, the production center will supply the onsite provisioning center as well as other stores across Southeast Michigan.

About Holistic Industries Headquartered in Washington, D.C., Holistic Industries is one of the largest private multi-state cannabis operators in the U.S. and has vertical operations in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C. Holistic is fiercely dedicated to customer service and individualized patient care and developing the most innovative, highest-quality cannabis medicines in various form factors.

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SOURCE Holistic Industries