Opportunity Zones With Tim McGraw, Canna-Hub CEO And Founder

Opportunity Zones With Tim McGraw, Canna-Hub CEO And Founder

Opportunity Zones with Tim McGraw, Canna-Hub CEO and Founder. Opportunity Zones are an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. Roughly 8,700 communities, or 12 percent of all U.S. census tracts, have been approved as Opportunity Zones since the law went into effect on January 1, 2018.

Opportunity Zones

Tim founded Canna-Hub to create the largest, most sophisticated cannabis real estate portfolio in California. Through Tim’s leadership, Canna-Hub identifies sites in strategically located cities that can accommodate hundreds of cannabis licensees in an organized manner through the development of Canna-Hub Business Communities, or “cannabis hubs.” Since November of 2016, when it all started, Canna-Hub has secured sites in Colusa and Fresno Counties, allowing for a combined total of approximately 1.6 million square feet of production facilities on 100 acres available for cannabis business operations that are compliant with California’s new medical and adult-use cannabis regulations. Tim has been developing and managing real estate for almost 20 years and over the last five years has become a respected cannabis industry executive and expert. Prior to founding Canna-Hub, Tim founded and was CEO of the largest cannabis cultivator and manufacturer in Illinois holding two of the 21 permits and over 150,000 sq. ft. of operations.