SLANG Worldwide will create 43 new cannabis industry jobs in Colorado by expanding production of consumer packaged goods, the Office of Economic Development and International Trade announced on Monday.
“Colorado continues to be the epicenter of the growing cannabis industry, so we’re excited by the company’s smart decision to relocate and create jobs in our beautiful state,” said Gov. Jared Polis.
New Cannabis Ventures, an industry news service, reports that Colorado and Oregon are SLANG’s primary markets, although it operates in 10 additional states, Puerto Rico, Canada and Jamaica. The company’s business model depends on market operations, licensing of brands and e-commerce.
SLANG’s Denver’s office, which is also their U.S. headquarters, employs 75 people. The 43 new positions in Denver and Boulder include lab technicians, project managers and production-related jobs. The governor’s office indicated the average salary will be $75,000.
“Colorado was already a core market for us, so with these incentives from the state it only made sense for us to double down on our commitment to the place that so many of us, including myself, call home,” said Chris Driessen, the president and CEO of SLANG.
A spokesperson for OEDIT said that the Economic Development Commission voted in September to approve up to $584,399 in tax credits over eight years for SLANG's expansion. It was the first time the state granted a performance-based incentive related to job creation to a marijuana company.