SLOCAL ROOTS ANNOUNCES $6 MILLION 2022 SAN LUIS OBISPO ECONOMIC IMPACT

SLOCAL Roots reports $29k in community giving, 360 hours volunteered at local non-profits, and $240k in tax revenue for the City and County of San Luis Obispo

SAN LUIS OBISPO, Calif., March 15, 2023 /PRNewswire/ -- SLOCAL Roots, a family of vertically integrated cannabis companies on California's Central Coast, today announced first-year estimated economic impact of $6 million in the San Luis Obispo region. The city's newest cannabis dispensary generated $3.1m in economic output, approximately $240k city and county tax revenue, $950k in employment and household earnings, and the store consumed more than $1.6m in local services. SLOCAL Roots staff volunteered 360 hours at local non-profits, all of which were fully compensated by the Company. SLOCAL Roots is the first retail dispensary opened by local resident Austen Connella, who co-founded SLOCAL Roots Farms in San Luis Obispo County in 2016. 

Mr. Connella, CEO and Founder of SLOCAL Roots commented, "Everyone at the store is extremely grateful for the support the community has shown us over the past year, and we hope to see our economic impact in San Luis Obispo double in 2023. We also want to thank the local non-profit community who welcomed our staff volunteers at their facilities. We are opening our 5,000 square foot expansion soon and we hope to find even more opportunities to engage with the SLO community."

SLOCAL Roots participates in California Senate Bill 34, the "Dennis Peron and Brownie Mary Act," named after two pioneers of California medical cannabis access. The bill creates a legal pathway for cannabis companies to donate cannabis to eligible patients. SLOCAL Roots has distributed over one thousand compassionate use products to patients in the region through the dispensary's SB-34 participation. 

"Medical cannabis is the origin story for SLOCAL Roots. Everyone working at the store is dedicated to helping patients curate their best experience," noted Tom McAuley, SLOCAL Roots' director of operations. He continued, "Every patient in San Luis Obispo should know that legal cannabis is more convenient, consistent, and safer to consume than unregulated products because of the rigorous testing that ensures purity and proper dosage, and today regulated product pricing is the same or better."

SLOCAL Roots dispensary at 3535 S. Higuera St. in the City of San Luis Obispo opened its doors on March 22, 2022. The store has 14 full time employees, 91% of whom are San Luis Obispo County residents, and all of whom are paid 40% above the median local income for similar retail positions. More than 80% of all supplies and services consumed by the store are sourced within 90 miles of the store's location. 

ABOUT SLOCAL ROOTS 
SLOCAL Roots is a family of fully integrated cannabis brands on the Central Coast. Co-Founder and Chief Executive Officer Austen Connella, and Co-Founder and Chief Operating Officer Kristin Kordich began operations when they started SLOCAL Roots Farms in San Luis Obispo County in 2016. SLOCAL Roots Farms operations include cultivation, processing, packaging, and retail sales. SLOCAL Roots opened in 2022, with plans to open a second dispensary, Route One by SLOCAL Roots in Guadalupe in 2023. The company's ownership and operations are located on the Central Coast, keeping jobs and economic benefit in the community. SLOCAL Roots is building the premier Central Coast cannabis brand. 

Cannabis use is restricted to use by those over 21 years of age. 
CALIFORNIA LICENSE NO: C-10-0000952-LIC

Corporate Contact:
Austen Connella
Co-founder, CEO, SLOCAL Roots Farms
[email protected]
(415) 837-3957

Media Contact:
Stephen Pedroff
[email protected] 
(805) 866-1962  

SOURCE SLOCAL Roots

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