LOVES PARK — A marijuana dispensary is coming to Loves Park.
The news comes nearly a near after the Loves Park City Council decided against allowing recreational cannabis to be sold within city limits. But with the recreational cannabis industry now a proven revenue generator for municipalities across the the state, aldermen are are now ready to get Loves Park in on those dollars.
“It’s a win-win for everybody,” First Ward Ald. Clint Little said. “We’re going to make sure that there are regulations in place [and] that there are no negative effects in Loves Park. But we’re going to reap all the benefits, and the tax dollars, for our citizens.”
Officials say the first dispensary will be opened by SMG Investments, which intents to build a facility near Riverside Boulevard and Bell School Road. The dispensary is expected to be up and running by late summer or early fall.
Sales of recreational cannabis in Illinois were around $1 billion last year. The State of Illinois collected more than $100 million in taxes.