Basil farm ready to switch to marijuana - Dallas News | myFOXdfw.com

Basil farm ready to switch to marijuana

Posted: Updated:
NEW JERSEY (MYFOXNY.COM) -

Basil plants grow on a New Jersey farm, but the facility could be turned into a five-acre medical marijuana greenhouse with only 48 hours' notice.

The hoses from the state-of-the-art Dutch hydroponic system are watering flowers now, but with a few minor adjustments could just as easily grow marijuana plants for medicinal cannabis. The only reason it's not happening now is because the company is publicly traded and subject to federal law. When the federal ban is lifted, this energy-efficient, eco-friendly greenhouse can be fully shaded with the flip of a switch.

Terra Tech CEO Derek Peterson told me he saw the benefits of medical marijuana firsthand when his stepmother was fighting cancer. Peterson, a former Wall Street investment banker, flew in from California to address more than 200 investors who own stock in Terra Tech. They came from all over the United States and Canada. He explained that their leafy greens produce subsidiary called Edible Garden -- sold in stores including Shoprite and Fairway -- was increasingly more profitable and a plan B in case of a hostile political or legal climate.

White Township Mayor Sam Race, a strawberry farmer himself, did the honors at the ribbon cutting of the new $5.5 million greenhouse that sits on a two-lane country road. He told me it's good for the local economy and he would not oppose a switch to medical marijuana.

The growing momentum towards legalization and profitability of cannabis-related companies are attracting investors' interest. But former Wall Street research analyst Alan Brochstein of the 420 Investor newsletter tells me not all green turns to gold.

For now, Edible Garden is creating new jobs for local residents and pumping needed dollars into the local economy. Peterson is banking on a day when medicinal cannabis will be able to multiply those benefits even more.

Legal and regulatory barriers to growing marijuana still exists, but this company and its investors say they'll have the infrastructure in place when the tide turns.

  • Local NewsLocal NewsMore>>

  • Aire Ancient Baths

    A relaxing bathhouse in busy Tribeca

    A relaxing bathhouse in busy Tribeca

    Tuesday, July 29 2014 10:29 PM EDT2014-07-30 02:29:51 GMT
    Deep beneath the hustle and bustle of Tribeca lies a modern-day oasis brimming with old world charm: Aire Ancient Baths, my new favorite city escape. The breathtaking spa is illuminated by hundreds of candles and smells of invigorating eucalyptus. For around $80 you can bathe in the tranquil blue pools for 90 minutes and find the temperature that's right for you.
    Deep beneath the hustle and bustle of Tribeca lies a modern-day oasis brimming with old world charm: Aire Ancient Baths, my new favorite city escape. The breathtaking spa is illuminated by hundreds of candles and smells of invigorating eucalyptus. For around $80 you can bathe in the tranquil blue pools for 90 minutes and find the temperature that's right for you.
  • NYC stores with no signs feed curiosity

    NYC stores with no signs feed curiosity

    Tuesday, July 29 2014 8:40 PM EDT2014-07-30 00:40:09 GMT
    From coffee shops in Brooklyn to restaurants in Manhattan, we find speakeasies standing out by blending in. When people in Bushwick want a green machine juice blend they visit Leticia Castillo's Owl Juice Pub. But first they must find the owl. "We been doing fine without a sign," Castillo says.
    From coffee shops in Brooklyn to restaurants in Manhattan, we find speakeasies standing out by blending in. When people in Bushwick want a green machine juice blend they visit Leticia Castillo's Owl Juice Pub. But first they must find the owl. "We been doing fine without a sign," Castillo says.
  • NY brothers invent machine that makes CPR easier

    NY brothers invent machine that makes CPR easier

    Tuesday, July 29 2014 6:40 PM EDT2014-07-29 22:40:57 GMT
    Only 10 percent of people who get CPR from a bystander actually survive. But two young men in Westchester County have now patented a device that could dramatically increase those odds and save lives. John and Chris DiCapua's sitting room in their parents' Westchester County home has had a unique guest lying around for quite a while now: a CPR dummy. What began as an idea from their time as Boy Scouts is now a device that could potentially save lives.
    Only 10 percent of people who get CPR from a bystander actually survive. But two young men in Westchester County have now patented a device that could dramatically increase those odds and save lives. John and Chris DiCapua's sitting room in their parents' Westchester County home has had a unique guest lying around for quite a while now: a CPR dummy. What began as an idea from their time as Boy Scouts is now a device that could potentially save lives.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices