Marketwatch takes a deep dive into the mixed results of cannabis equity programs, the hurdles facing people of color trying to break into the cannabis industry and some prominent figures in the industry who made equity and diversity a cornerstone of their business plan.
There are now more than 211,000 cannabis jobs across the United States (296,000 if indirect jobs are included). More than 64,000 of those jobs were added in 2018. That’s enough people to fill Chicago’s Soldier Field, with 3,000 more tailgating outside.
The number of “plant-touching” jobs is expected to pass 500,000 by 2022 and employ 630,000 people by 2025, according to New Frontier Data, a cannabis market research and data analysis firm.
These jobs don’t take into account industries that rely on the cannabis economy, including financial, legal, real estate, construction and other professional services. And because cannabis remains illegal at the federal level, employment data agencies such as the Bureau of Labor Statistics don’t track jobs related to the cannabis industry.
Cannabis opportunities on reservations?Democratic presidential hopeful and U.S. Sen. Elizabeth Warren, D-MA, makes the argument that Indian tribes have the right to legalize cannabis without federal interference, and:
“A number of Tribal Nations view cannabis as an important opportunity for economic development,” she said.
Give us a hugIs the federal government embracing the reality of cannabis legalization? Okay, that might be a step too far, but it appears the National Institute on Drug Abuse’s position is evolving. The agency wants to fund studies that look at regulations, industry marketing and reasons for medical cannabis use.
Colorado helps others legalize the responsible wayThe National Foundation for Women Legislators hosted a Marijuana Policy Summit in Colorado last week, touring cannabis dispensaries and discussing CBD, licensing, potency, revenue and health and safety. About 30 elected women whose states or municipalities are considering legalization, or have already legalized cannabis, attended the summit.
Medical refugees. That’s the term now given to people who move to other states to access legal cannabis for medical reasons. Groups, such as Colorado-based American Medical Refugees, help families hoping to connect with those in similar situations and find resources.
A new Marijuana Policy Project report looks at top 10 “marijuana policy wins” of the year and provides updates at the state-level and in Congress. Colorado is the only state to appear twice in the top ten: #7 for onsite consumption and #8 for home delivery.
Illinois, which was #1, became the first state ever where the legislature — as opposed to voters — passed a comprehensive adult-use legalization law that includes regulated sales.
Researchers at the United States Department of Agriculture’s Forest Services found that illegal marijuana grow operations on federally protected lands fell after states began legalizing it for adult use.
“Outright, national recreational cannabis legalization would be one means by which illegal growing on national forests could be made to disappear,” they found.
Colorado nurses have launched a hotline, Leaf411, to answer questions about cannabis. They said they expect many of their callers to be senior citizens, a growing user demographic that’s more likely to need health care and use the phone.
Colorado Department of Agriculture Director Kate Greenberg lays out the many ways she believes our state is leading the way in hemp.
“Basically, we kick butt. We had one of the first hemp programs in the country, and there’s still only a few across the country. Folks are racing post-2018 Farm Bill to set something up, but we are five years ahead of the curve, having our own hemp program.”
Colorado has surpassed $1 billion in cumulative tax revenue since legalization in 2014. The industry continues to grow, which is good for all of us considering the programs the tax revenue funds. “Marijuana revenue funds a range of youth and public health programs in Colorado, including mental health services, youth literacy initiatives and anti-bullying programs in schools. Marijuana tax revenue goes to both state and local governments.”
A recent poll showed that 55 percent of voters supported legalization, but New York’s plan to legalize marijuana collapsed Wednesday, “dashing hopes for a potential billion-dollar industry that supporters said would create jobs in minority communities and end decades of racially disproportionate policing.”
Columbia Care has introduced the industry’s first cannabis credit card.
“Columbia Care initiated its CNC Card on a trial basis in New York State in the second half of 2018. What the company found was that, when compared to other forms of payment, those folks who purchased cannabis products with the CNC Card had a basket size that was 18% larger for in-store purchases.”
The Nevada Legislature pulled the rug out from under Las Vegas with Assembly Bill 533 that overrode the Las Vegas City Council’s work of over two years in licensing social use cannabis venues. Venues now have to wait until at least 2021. From Leafly, “Las Vegas OK’d Cannabis Lounges but Nevada Just Said No.” More »
Come for the stories of entrepreneurs having to shelve their plans indefinitely, but stay for an understanding of the remarkable political pull large casinos have in the way policy is crafted and implemented.