Desert Hot Springs marijuana startup aims to produce 10 thousand pounds of pot monthly

A Los Angeles-based cannabis company is poised to “rake in the green” at their new operation in Desert Hot Springs.

The company, Pineapple Express, Inc., is one of several new business ventures in the city, looking to capitalize on the booming demand for medicinal marijuana. They’re also betting that California voters will approve recreational pot use in November.

The company is part of a wave of investors and entrepreneurs flocking to Desert Hot Springs, in the wake of voters approving local ordinances, which allow the city to tax the sale of medicinal marijuana, and tax the cultivation of cannabis.

Pineapple Express CEO Matthew Feinstein says his company will eventually occupy 10 buildings in Desert Hot Springs at a complex called “Pineapple Park”.

“There really isn’t another industry like this right now,” said Feinstein while talking about his venture.

“This is one of the only growing industries, and the country has not seen anything like this since the big tech boom at the turn of the century,” said the entrepreneur.

Pineapple Park will offer what Feinstein calls “condos”, which are spaces that will be leased by individual marijuana cultivators.

One tenant, who has already signed a lease, estimates growers at the site will produce “10 thousand pounds of marijuana a month”.

For more on Pineapple Park, and the budding marijuana industry in Desert Hot Springs, be sure to catch my special, in-depth report, which will air Tuesday, May 17th, on CBS Local 2 News at 5:30.

The report will include a look at how the booming marijuana industry is expected to bring in millions of dollars in tax revenues, and, how the city took the necessary steps years ago to attract the new businesses.