News

Colorado’s cannabis lobby gaining new clout

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This will be a big year for the industry, with marijuana regulations sunsetting and bills vetoed by former Democratic Gov. John Hickenlooper resurfacing. And the cannabis lobby at the Capitol is growing, in numbers, spending and stature. Cannabis lobby gains new clout in Colorado as its spending tripled in the past five years.

For a review of the cannabis bills introduced in the 2019 Colorado legislature, please go here 

Goodbye tech, hello cannabis 

The fastest-growing industry in the U.S. right now is cannabis. The marijuana industry added 64,389 jobs in 2018, an increase of 44% from the year before, according to a new report from the cannabis website Leafly and Whitney Economics.  

 Marijuana is the fastest-growing sector in the US job market

Follow the money

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Denver has created an interactive map that people can use to track tax revenue from legal marijuana sales for city education programs. The purpose of the map is to “improve transparency and to help the public better understand how Denver’s marijuana funds are distributed.”

6 . . . BILLION Dollars!

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The Colorado cannabis industry has eclipsed $6 billion in sales since adult use was legalized five years ago. Last year, sales  surpassed $1.55 billion, beating the record of more than $1.51 billion set in 2017, and the state received nearly $1 billion in tax and fee collections.

Denver Post Article »

Quotable

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“As one of the first states to (legalize cannabis), we get a lot of extra business from people coming into our state. . .  So from the economic perspective in Colorado, I’d love other states to go slowly so that we can continue to see all these benefits for Colorado. For years, I’d been sort of countering this sort of dire picture of Colorado. But again, if (other states) think that (legalization is) bad, it’s better for us to have less competition at this point. So I mean, if I’m looking at it as governor, I would hope they halt their efforts and send all their business here.”

Colorado Gov. Jared Polis

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Coast to Coast 

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There isn’t as much gold as expected coming out of the Golden State.  California is expected to collect $630 million less in revenue than what Gov. Jerry Brown projected in his last budget. There is so much marijuana being manufactured (15.5 million pounds) that the state now has far more surplus than it actually consumes (2.5 million pounds).

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On the other side of the country, people suffering from opioid addiction now qualify for medical marijuana in New Jersey.

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America’s first cannabis  governor and the challenges ahead

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Gov. Jared Polis, considered the most industry friendly governor in the country, takes the reins at a crucial time for Colorado as the state’s regulations come under review and as at least one bordering state considers developing its own legal cannabis industry. The marijuana  industry is optimistic Polis will champion its cause to keep the industry growing and moving legislation that his predecessor vetoed.
Colorado Sun Article »

Indeed, several new marijuana bills were among the first filed as the legislature opened, including a new attempt to add autism spectrum disorders to conditions that qualify patients for medical cannabis;  another would make people eligible if they have a condition under which a doctor would prescribe opiates.
Reporter Herald Article »

Polis takes office as marijuana sales show signs of leveling off after five years of constant and dramatic growth.  New state figures show Colorado has logged over $1.4 billion worth of medical and recreational marijuana sales from January to November 2018, just $93 million behind 2017. And while a dramatic surge is not expected, Colorado is still on pace to finish the year slightly ahead of the year before.
Summit Daily Article »

While sales remain strong in Colorado today, will the state’s industry be impacted by a change in leadership across the border? The Albuquerque Journal takes a look at legislation being proposed to legalize cannabis in New Mexico under a new Democratic governor.
Albuquerque Journal Article »

Headlines

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Polis underscores support for cannabis initiatives with inaugural program

The new Colorado governor had his ceremonial schedule printed on hemp paper.

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Julian Castro supports state’s rights on cannabis

Presidential candidates says “growing evidence from Colorado and other states suggests we can sensibly legalize marijuana use with reasonable controls in place. State voters should have that power.”

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New Congress, new cannabis caucus

With Gov. Jared Polis’s departure from Congress, the caucus will be led by Rep. Earl Blumenauer, D-Oregon,  Rep. Barbara Lee, D-California, Rep. Dave Joyce, R-Ohio, and Rep. Don Young, R-Arkansas.

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Legal cannabis five years later

Retail cannabis sales are booming in Colorado, and so are the state coffers. But much of the bad predicted to accompany legal sales have not materialized. Alternet looks at five impacts the industry has had in Colorado.

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Yes, we’re in Colorado but “Florida Man” news is always entertaining 

A Florida man is in jail for trying to pay for his food at a McDonald’s drive-thru with a bag of marijuana.

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Better than tech

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New research shows the cannabis industry is far outpacing the tech sector in job creation and is on target to create more than 250,000 jobs by 2020. 

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In addition to new high-paying careers like bud tenders and trimmers, a host of security opportunities also abound. 

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Still, marijuana businesses face unique HR challenges. 

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In Case You Missed It…

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ICYMI: How legal marijuana has benefited Colorado over the last five years

From affordable housing to better mental health care, legal cannabis has made Colorado a better place to live. 

Westword Article »

Cannabis and Tourism

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The markets and options are growing

When marijuana was first legalized in Colorado, state and local tourism officials did their best to distance themselves from the industry, downplaying its role as a tourist draw in an obvious attempt to stay neutral and avoid turning off travelers opposed to cannabis. 

But as more states legalize marijuana and its use becomes increasingly mainstream, it’s getting harder to ignore the opportunities legal marijuana offers the travel industry. And players around the country are looking at Colorado travel businesses who seized on cannabis opportunities as a model.

New York Times story »

A new Airbnb for marijuana smokers

One of the biggest problems for cannabis smokers is finding a place to legally indulge. A new twist on Airbnb aims to fix that.

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