Hannah Wyman
BELLEVILLE — The Belleville City Council has unanimously approved $800,000 in tax breaks to help what could be the first cannabis dispensary to open here.
The tax increment financing deal was granted last month to help cannabis investment firm Blounts & Moore with the remodeling and development of a $1.8 million dispensary facility.
Under the banner Market 96, the shop will be located at 7300 Twin Pyramid Parkway. In the development agreement, Blounts & Moore promises that the dispensary will create over 30 jobs and garner an annual revenue of at least $8.5 million. The company did not respond to requests for comment.
“Obviously marijuana gives the city an option for traditional retail tax and an option for additional tax,” said Clifford Cross, Belleville’s director of economic development, planning and zoning. “It’s a great source of revenue. … I haven’t heard any negative feedback.”
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Cross said he isn’t too worried about losing sales to people traveling across state lines into Missouri for the lower tax rate.
“Do I think someone is gonna jump in their car and go across to save 10 cents on the dollar and save?” he said.