For marijuana entrepreneurs like Ean Seeb, the legalization of recreational marijuana use in Colorado and Washington in Tuesday’s election is more than a game-changer. “It’s the start of a tipping point,” said Seeb, co-owner of Denver Relief Medical Marijuana Center.
“I think it’s about damn time,” said Ryan C., a nursery operator in northern Washington state who said he expects to add to the 12 marijuana plants he already grows in his greenhouse. “I have 30,000 square feet of greenhouses, so I was pleased.” Ryan, who has a license to supply a dispensary, didn’t want to use his last name in order to “keep some part of professionalism,” he said.
The legalization of recreational marijuana will create a new industry that may in turn fuel a local business boom, with staggering potential economic impact. According to a survey by the National Cannabis Industry Association, the Colorado medical marijuana industry generated more than $181 million in sales since 2010 and employed 4,200 state-licensed workers. Aaron Smith, executive director of the NCIA, said those numbers may increase tenfold with legalization.
“The medical marijuana industry only accounts for 10 percent of the [marijuana] consumers in Colorado, which means there’s another 90 percent obtaining marijuana somehow in the black market,” said Smith. “Now that securing marijuana will be easier, like showing ID to buy a six-pack of beer, there will be significant growth in the market.”
National pot sales may surge into tens of billions of dollars if more states follow Colorado and Washington, Smith said. California, he predicted, will be “the next state on the list. That’s a huge market.”
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Here’s a story to catch the eyes of those yet to make their first million. I couldn’t borrow from my parents either. Sorry, that’s all that behind us, for now anyway. Cannabis + legitimate business status = TCB. Its a new day, Greenies. Re-legalization has begun.
There is much more to this original story and you can find it HERE.
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