FAIRFIELD – The city council reached the finish line Tuesday of its year-long effort to enable cannabis retail and manufacturing businesses to operate in the city and generate an estimated sales tax of nearly $ 1.19 million for the first full year.
The council approved cannabis retail approval to JJVI Enterprises Inc. (Bright Spot), with a planned storefront on Walters Court in 1990, Responsible and Compliant Retail (Embarc), with a proposed location on Serrano Ave. 180, Suite A, and a cannabis manufacturing license to 3Bros Fairfield intending to locate at 2445 S. Watney Way.
The council passed an ordinance in June 2020 that allows pot shops in the city.
“Once fully operational and open for business, the selected applicants will have to pay taxes on the sale of cannabis products at annual rates not exceeding 6% of gross revenues for cannabis retailers and 4% for manufacturers,” reports a staff at the Council explains.
Responsible & Compliant Retailing Fairfield LLC estimates $ 366,502, JJVI Enterprises estimates $ 464,400, and 3Bros Fairfield estimates $ 358,521.
Under the conditions that are placed on the companies, each company must employ at least 75% of its employees from the Solano district.