OAKLAND — Coda Signature, a luxury cannabis manufacturer, is preparing to open a new production site in Oakland and planning to hire more than 200 people, a company executive said Monday.

The new East Oakland location at 5601 San Leandro St. would be the first California site for Denver-based Coda Signature, whose principal operations are in Colorado.

“Our space is just about complete and we expect to get our certification of occupancy in the next few weeks,” said Mark Grindeland, chief executive officer of Coda Signature. “We are starting to move in equipment right now. We are hiring as quickly as we can.”

Coda Signature produces an array of cannabis-infused goods, including edibles, bath bombs, skin products, and muscle and skin products.

“We are very excited to be entering the California market, which will be the largest cannabis market in North America,” Grindeland said. “California will be a key part of Coda’s overall growth plans and our business strategy.”

In 2018, California retail stores sold $2.5 billion worth of cannabis products, but that market could expand dramatically in the next few years, according to a report circulated by Cannabis Business Plans, which helps marijuana companies craft their strategies.

“By 2022, the cannabis market in California is projected to jump to $7.7 billion, boosted significantly by California’s recreational cannabis market that opened for business in 2018,” Cannabis Business Plans stated in its report.

Coda Signature leased 21,000 square feet on the first floor of the Tinnery building. That building is part of an old cannery complex operated for decades by Del Monte Foods and produced the tin cans that eventually would be used to contain fruit products.

The Tinnery building is within the “green zone” that Oakland has designated as an area for legal cannabis cultivation, production dispensing and distribution. The Tinnery and the adjacent Oakland Cannery together contain some major cannabis companies.

When the Coda Signature production site opens in the coming weeks, the company will have a staffing level that could ramp up swiftly.

“We expect that by the end of this year we will be at 70 employees, and by the middle of next year, we will surpass 100,” Grindeland said.

The company. which will start at one shift, anticipates it will begin hiring for two shifts by year’s end, and eventually will have three production shifts with manufacturing activity 24 hours a day.

Production, packaging, fulfillment and some administrative positions will be located at the Oakland facility.

“We are very optimistic that by the end of 2020, we will be at three shifts, but that depends entirely on demand,” Grindeland said. “When that happens, we will have at least 200 employees.”