Northeast Fresno welcomes Banyan Tree dispensary, boosting revenue hopes for city leaders

FRESNO, Calif. (KFSN) -- Banyan Tree, a caller cannabis dispensary successful Northeast Fresno, held its expansive opening connected Saturday. It's 1 of respective ineligible cannabis dispensaries operating successful the city.

After a precise dilatory start, Fresno City leaders expect cannabis gross to proceed to bloom, with 13 businesses unfastened retired of the 19 that are allowed.

"Banyan Tree is 100% local, locally owned," said Ace Castillo, the CEO of Banyan Tree. "Local investments and dollars that came to assistance unfastened this place."

The City expects to bring successful astir $7 cardinal successful cannabis gross for the 2025 fiscal year, particularly with 13 storefronts present operating. But past year, the metropolis fell short.

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"It was owed mostly successful portion to lone having 2 dispensaries open," said Fresno City Council President Annalisa Perea. "What we've seen precocious is simply a immense influx of caller storefronts opening."

Perea said a maximum of 21 dispensaries volition beryllium allowed to bash concern successful the city, which would beryllium astir 3 stores per district.

Last Thursday, Mayor Jerry Dyer presented his projected fund program for the 2025 fiscal year, which is conscionable shy of $2 billion. He besides explained the driving origin down a $47 cardinal deficit.

RELATED: Fresno Mayor Jerry Dyer presents projected 2025 budget

"We had expenses that outpaced revenues," said Mayor Dyer connected Thursday. "We proceed to spot that arsenic galore cities do."

While metropolis leaders person seen an summation successful spot taxation citywide, there's besides been a alteration successful income taxation and concern licensing fees, conscionable to sanction a few.

"Our gross that we are hoping to summation from the cannabis manufacture present locally, whether you're a protagonist oregon not, is truly going to beryllium instrumental successful helping america beryllium economically stronger," said Perea.

Fresno City leaders said it's a beauteous lengthy process to get a cannabis storefront, similar Bayan Tree, open. That's due to the fact that they vet each applicant. For Castillo, getting his store unfastened is 1 of his biggest accomplishments

"This is simply a imagination travel existent to really unfastened up and bash this for the community," said Castillo.

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Wayne Eckheart, 1 of the vendors astatine Bayan Tree, is blessed to spot the section cannabis manufacture grow.

"Having much options to enactment with antithetic partners wrong the assemblage gives america the limb up too," said Eckheart.

He believes that shops similar Bayan Tree volition assistance bring successful wealth to the area.

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