A marijuana manufacturer with a global reach has proposed a deal potentially worth $2.4 million to the town of Wareham over five years, officials announced.

Colorado-based Organa Brands is looking to open a facility in the historic Tremont Nail Factory complex that could process 60 to 90 pounds of marijuana a day into products such as edibles. However, current zoning rules prohibit manufacturers from opening in the complex. Voters at the Oct. 22 Town Meeting will be asked to change those regulations, allowing for the future development of the site, town officials say.

The Tremont Nail Factory complex is located on a 7.2-acre site on Elm Street. The Tremont Nail Company had manufactured cut nails and other products at the site starting in 1819. The property was sold to Wareham in 2004. It was purchased using Community Preservation Act funds. The act is a Massachusetts law that allows participating cities and towns to adopt a real estate tax surcharge, supplemented by state matching funds in order to fund community preservation.

Organa Brands plans to open its manufacturing facility in the complex’s “steel building.” Built in the 1970s, the building is an 80 by 180-foot structure Organa Brands officials said suits their needs.

On Friday morning, Wareham Redevelopment Authority Chair Peter Teitelbaum said Organa Brands President Chris Driessen presented him and Director of Planning & Community Development Director Ken Buckland with a five-year deal potentially worth $2.4 million. The redevelopment authority manages the Tremont Nail Factory complex. Teitelbaum noted that the agreement is subject to Board of Selectmen approval. 

According to Teitelbaum, Organa Brands will pay $84,000 annually for rent, set to increase 3 percent each year and agreed to give a $100,000 annual donation during each year of the agreement. Teitelbaum said all of that money must go into a fund dedicated to the maintenance and development of the Tremont Nail Factory complex, which still requires major upgrades.

Organa Brands agreed to pay the town 3 percent of gross sales with an annual cap of $300,000. That money will go into the town’s general fund, which can spent for any municipal purpose, pending Town Meeting approval.

To reach the $300,000 cap Organa Brands would have to reach $10 million in sales at the Wareham facility. Teitelbaum said the company is projected to have sales well above that by the second year.

While town officials are supportive of the business, others expressed doubts about the marijuana manufacturer opening in the district.

At an informational session held on Oct. 4, several residents said the business wasn’t a good match for the historic site.

Resident Malcolm Phinney said he was against the project.

“It’s a drug, period,” said Phinney. “I can not support this at all. Let’s look at a business we can be proud of. I do not think the Town of Wareham should be involved with this at all.” 

Angela Dunham, president of the Wareham Historical Society, said she would prefer to see the business open up elsewhere in town due to the site’s historical nature.

“I do not feel this is a good fit for the location,” said Dunham.

Driessen said the company planned to open early next year, pending approval. He said the company considered opening in Pittsfield, Massachusetts, but opted for Wareham because of its proximity to Boston. Also, because the site is town-owned, Organa Brands would be leasing from Wareham, funneling money directly back into the community. That appealed to the company’s core values, said Driessen.

Town Meeting voters will be asked to allow light manufacturing in the district not only to accommodate Organa Brands, but to let other businesses move into the site. Teitelbaum said businesses such as a furniture refinisher, distillery, brewery and others have expressed interest. Under current zoning, none of those businesses would be allowed to open there. If approved, the new zoning would allow the following uses at the site: health and athletic facilities, apartments in mixed use buildings, conference center, hotel, light manufacturing, accessory food and beverage, artists studios, brewery and distillery.

Town Meeting is set for Oct. 22 at 7 p.m. in the Wareham High School auditorium. All registered voters may attend and participate.