E29 Labs Investment
About E29 Labs Investment
In April 2021, following New York State’s passage of the Marijuana Regulation and Taxation Act (MRTA) Montgomery County entered into a Purchase-and-Sale agreement with E29 Labs, a prospective commercial cannabis production company. The investment, which would encompass 19.6 acres of the 26.9 acre site, has the potential to realize significant private investment by the company, as well as the creation of union manufacturing, office and executive support employment opportunities. Returning the property to private ownership will also help generate critical new revenue streams for Montgomery County as well as the Village and Town of Canajoharie.
E29 Labs, co-founded by Shelley Robert, Sheldon Roberts and cannabis-business veteran Michael Dundas, is well positioned to be a market leader in New York’s new commercial cannabis growth and processing industry, bringing years of knowledge, best practices, and commercial success to this operation.
Redevelopment of the Exit 29 site, with a focus on creating good-paying manufacturing jobs and new tax revenue has been a priority for the County and the Business Development Center.