He Wants to Be the 'Two Buck Chuck' of Pot

Entrepreneur wants to transform marijuana growing
By Nick McMaster,  Newser Staff
Posted Jul 24, 2010 3:30 PM CDT
Calif. Entrepreneur Hopes to Transform Pot Business
In this Oct. 22, 2009 file photo, a medical-marijuana user holds a homegrown bud in Portland, Maine.   (AP Photo/Robert F. Bukaty, File)

(Newser) – Jeff Wilcox is set to become pot's first great entrepreneur. The California businessman has convinced the Oakland city council to allow the construction of factory-style marijuana farms, aimed at producing decent-quality bud at below-average prices. For now, Wilcox is filling a niche in the local medical marijuana market. But he sees cut-rate pot—specifically, the 58 pounds a day that could be pumped out of his planned 7-acre site—as a prime mover after the drug is fully legalized. Reuters pays a visit.

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Wilcox likens his efforts to those of Trader Joe's, the grocery chain that's found success selling "Two Buck Chuck"—a reasonable bottle of wine for $2. "The new Two Buck Chuck will be $40 an ounce pot," Wilcox said. His plan calls for a 3% grower's tax, which he estimates would send the California government over $2 million in revenue yearly. For a look at Proposition 19, the California ballot initiative that would legalize weed, click here.
(Read more medical marijuana stories.)

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