The Shinnecock Tribal Nation announced a partnership with a cannabis development company. It's part of their plan to open a cannabis dispensary this fall.
Last month the tribe ended its partnership with TILT Holdings, a provider of cannabis business development. The tribe began its partnership with TILT Holdings in 2021. However, the company announced it would end partnerships with the tribe this year.
The company sold its interest in the venture to PowerFund Partners for $1.4 million. PowerFund Partners is a Boston-based development company that said it’s focused on sustainable cannabis operations. The company will partner with the tribal nation on the final stages of development of the Little Beach Harvest dispensary in Southampton.
Last year, the tribe broke ground on the project after seven years of development. When it opens, it’ll be the first tribally-owned legal adult-use dispensary on its sovereign land. The revenue from the business will help to sustain the sovereign nation and create job opportunities for tribal members.
In a statement released this week, the Council of Trustees of the Shinnecock Nation said they are excited about the new partnership. The company will support the launch of Shinnecock Nation’s first-ever dispensary in the coming weeks.
“This transition to PowerFund Partners will bring us to the point of completion and official opening as the first tribally-owned cannabis dispensary in eastern Long Island on our sovereign land," they said. "We are excited about what our business will bring to our people and the surrounding communities.”
