For all of us here in Cali, they beat us to it. Starting next week on January 1st, Denver will be the first city ever in the U.S. to sell marijuana for recreational use. No licenses, no recommendations, you just need to be 21-years-old to roll one up.
Denver has long been the pioneer in medical marijuana legalization. Now the industry’s eyes, and wallets, are set on the largest clientele available- everyone. What is expected from this change? Tens of millions of dollars in tax revenue for the state. The state of Colorado has sent state licenses out to 136 dispensaries, originally only for medical marijuana card holders, to sell marijuana for recreational use. 178 businesses can also grow marijuana for recreational use. For business owners this is a dream come true, with revenue expected to at least double this coming year.
But while we are getting all excited, Colorado business owner Morgan Iwersen, who runs Canyon Cultivation which makes marijuana edibles, drops, and candies, shares the most important point on all this. “I hope people are responsible with it and they don’t mess it up for the rest of us.”
True that. The only thing better than legal marijuana in Colorado is legal marijuana in California. With many times the amount of potential customers in California, could the profitable Green Rush make it’s way to the West Coast? We are talking millions and millions of dollars and a whole new, culturally popular market opening up. Business owners in Colorado have invested millions in anticipation for the new state law. Perhaps business people and entrepreneurs here should start to take notes because with the huge potential in the marijuana industry, money really does grow on trees.
The federal government still considers the use, traffic, and sale of marijuana criminal. We’ll definitely be keeping an eye on the situation in the coming year. “Yes, one plane ticket to Denver, please.”