WeedLife News Network
With nearly 21,000 people working in marijuana dispensaries or affiliated businesses, Arizona ranks No. 4 nationally for jobs in the cannabis industry, according to a report released Tuesday by Leafly.
The report was based on employment in 2020, before Arizona launched adult-use marijuana sales in January, so those figures are sure to rise as dispensaries around the state ramp up to meet the new demand from sales to any adult over age 21, not just medical-marijuana patients.
Arizona had more than $1 billion in medical-marijuana sales last year, with about 5,600 new jobs created just last year, according to estimates in the report.
Former TV news anchor Dan Rather has referred to certain political races in the past as hotter than "a Times Square Rolex," "the devil's anvil," and "a Laredo parking lot." His folksy descriptions could just as readily apply to the U.S. cannabis market. No matter how you look at it, pot is hot.
The state of California placed medical marijuana workers in Phase 1A of the vaccination plan, which means they would have access to the vaccine before teachers.
Leave it to Nature has been open since the start of the pandemic, serving people who use marijuana as a form of medicine.
“Us being deemed essential from the start essentially is keeping us working,” Gary Vanderburg said, the manager of Leave it to Nature. “We do help a lot of patients here for medicinal reasons.”
Yes, you read that right. We have another form of THC to explore – meet Delta 10 THC, a new cannabinoid with a short but interesting history.
Delta 10 THC is one of the hundreds of cannabinoids found in cannabis. But unlike some of the bigger names like CBD, Delta 9 THC, CBG, CBN and Delta-8 THC, Delta 10 is not a naturally occurring plant compound, although it does start off that way.
In the past few years, there has been one major central theme debated heavily by society. That is the legalization of cannabis. The once demonized plant stigmatized to cause delusions and murderous tendencies have been finally revisited and approved by government officials. As the health benefits of cannabis become more prominent, more and more stares are starting to legalize it.
In fact, legal cannabis has been taking over the market and skyrocketing in growth. During its first year of legalization in Colorado, the state earned over 700 million dollars in tax revenue. The number has since grown to more than a billion dollars a year.
As is typical of most entrepreneurs, I like to think that I am responsible for my success. Entrepreneurs do work very hard, and some are talented enough (and lucky enough) to become successful.
Growers, tenders, trimmers, producers and distributors all take different risks, skillsets and roles. Working with cannabis insiders operating on both sides of the law gives insight into the process of cultivating these plants and turning them into profit. Utilizing trim is one such way.
The strain of cannabis grown doesn’t matter as much as the process you use to grow, harvest and prep the product for sale. Fruit and vegetables bought in a store aren’t just ripped from the ground and sold as is – they’re gussied up and made presentable. Cannabis is no different.
The number of cannabis industry jobs in Michigan is growing faster than any other state with legal marijuana, according to a new jobs report released on Tuesday. Michigan has surpassed Oregon and now places sixth on the list of the most cannabis jobs by state, as documented by the report from cannabis education resource and marketplace Leafly.
Pennsylvania’s Agriculture Secretary recently announced a funding program that aims to help boost sales, export or consumer awareness of hemp products made in the state.
Prior to prohibition, hemp was an important crop in the state. 2017 marked the first year in seven decades industrial hemp was (legally) cultivated and harvested in Pennsylvania. Last season, 500 growing sites and 60 processors were licensed statewide and applications for this year’s season opened in December last year. Growing permit applications will be accepted until April 1, while processing permit applications will continue to be accepted throughout the year.
I remember sometime around 2007, sitting in the boardroom for a publicly-traded company I ran. Ten men sat around a table with me; a potential investor was on speakerphone. We were requesting $10 million in funding from him.
"Honey," he said to me. "What if I didn't give you $10 million, but I gave you $100 million instead? How would you spend it?"
It was a misogynistic and loaded question that I knew he would never ask my male colleagues. Without losing my cool, I remained silent for 20 seconds, relishing the uncomfortable silence. Then I said, "I'd go to Neiman Marcus, of course! What else would I do with the money?"
Don't look now, but marijuana stocks are blazing hot, once again.
Pot stocks have been on fire since the beginning of November, which follows a roughly 19-month lull (April 2019 to October 2020) where they grossly underperformed. For instance, the ETFMG Alternative Harvest ETF, which holds stakes in dozens of direct and ancillary pot players, is up 129% since the end of October.
If you're wondering what changed, look no further than the political makeup in the United States.
A bill that would allow future marijuana shops and hemp businesses to use South Dakota banks will move forward to the House floor after a unanimous vote of approval by the House Commerce & Energy Committee.
House Bill 1203 lays proactive groundwork for banks and their subsidiaries to work with any person that acquires an industrial hemp or marijuana license, pending legalization at the state level.
Without a bill of this kind, those involved in the cannabis industries would only be able to carry out business transactions in cash, because marijuana is considered an illegal business at the federal level.
Humboldt County made quite a considerable name for itself in California, and across the U.S. for cannabis enthusiasts, as a mecca for growing and cultivating cannabis in the early days of medical legalization, and even before. Now, the county has made a bold move, permanently banning all outdoor cultivation of low-THC hemp.
Gov. Andrew Cuomo announced new pieces of legislation Tuesday that detail aspects of and add to the state’s proposal for adult-use recreational marijuana.
Three new amendments to the proposed recreational legalization would enable delivery services, adjust criminal charges related to black market sales, and detail how funds generated by new taxes are distributed, according to a media release from the governor’s office.
“Our comprehensive approach to legalizing and regulating the adult-use cannabis market provides the opportunity to generate much-needed revenue,” Cuomo said.
The emerging legal cannabis industry is going global, with a growing list of countries that have legalized cannabis for adult and/or medical use, and even more countries exploring a similar move.
At the same time, the world’s climate is changing, with extreme weather patterns picking up in frequency and severity all over the world.
Climate change is affecting virtually every aspect and sector of the agriculture industry, and that is likely to be the case for cannabis too as outdoor cultivation is permitted in more areas.
Over a year after the passage of Barbados’ Medicinal Cannabis Industry Act, the Caribbean island nation officially opened for business last month, January 2021.
The launch of the sector in the midst of the COVID-19 pandemic comes at an ideal time. The local Barbados economy, as well as the wider regional Caribbean economy have long been dependent on tourism for its ‘bread and butter’. As a result, they are being hammered, and facing an economic crisis of major proportion.
The national debt of Barbados is now around US $6.35 billion. The International Monetary Fund, (IMF) noted that the prolonged COVID-19 pandemic continues to have a major impact on Barbados’ economy.
There is so much promise for the cannabis industry, but so much zigging and zagging in search of sustainable profitability.
From the minute that Joe Biden took the oath of office, a new leader perceived to be a cannabis industry supporter, the cannabis industry has seemed ripe for an investor explosion. There has been money on the sidelines waiting for this sort of green light. Now it’s signaling “go.”
The cannabis space is red hot right now, with newly powerful Democratic leaders saying they plan to make reform legislation a key priority in the current Congress. Over the past year of the pandemic, the industry has seen massive gains as many states with “stay in place” mandates identified the category as an “essential service.” Nevertheless, we have yet to see a major national player emerge as a ubiquitous brand, either on the retail or product level. If you work or heavily consume in the space, you might have become familiar with some of the players—but there’s no Pepsi or Kleenex in the industry by any stretch of the imagination.