Marijuana might not yet be legal in the state of Ohio, but a few local entrepreneurs are capitalizing on the budding industry. And given the rate at which states are legalizing the drug — both for recreational and medicinal uses — these local businessmen are setting their sights even higher.

They aren’t the stoners with whom you rubbed elbows (or were) in college, but rather a group of guys who already made names for themselves in other businesses and are now looking to capitalize on what some analysts characterize as the fastest-growing industry in the United States. Last year, for example, the legal cannabis industry generated $2.7 billion in sales, according to one estimate from ArcView Group, a cannabis industry research and investment organization headquartered in Oakland, Calif.

Meet Darrin Farrow. His day job as president of Pension Builders & Consultants in Rocky River focuses on managing assets for 401(k) plans, pension plans and the like. But about four years ago, he started investing in business opportunities surrounding the cultivation and production of medical marijuana.

He’s one of the founders of MAD Farmaceuticals — yes, “farm” — that supports various aspects of the legal marijuana industry. The company, for one, consults for those looking to launch growing operations. He also boasts software that he says acts much like an air-traffic controller, allowing cultivators to monitor and analyze their operations. Farrow also has stakes in cultivation and production operations in Colorado, Oregon and Nevada. In Oregon, for instance, his facility supplies marijuana to 120 dispensaries throughout the state.  [Read more at Crain’s Cleveland Business]