California Eyes $7 Billion on Marijuana Industry

Recreational Marijuana, Marijuana Business

We all know by now that the recreational marijuana business is about to blow in California. It is expected that the sale of recreational marijuana will start on Jan, 1. 2018. This means that right now many people who are looking to get a slice of the action would be applying for the business licenses.

On Friday, the state started accepting some of the first applications for the marijuana business. It is expected that the industry would add up to $7 billion to the state’s economy. This is more reason to have more businesses allowed to operate in California dealing in marijuana. Having easy access to these businesses would be great for both consumers and marijuana stores.

It has not been smooth though. An online system had to be developed for the business. The work of the system is to provide an easy for the retailers, testing labs, and distributors to seek the state licenses. Without these licenses such businesses cannot be conducted. With the online applications, it should make it easy to get your license without necessarily visiting the existing offices.

Lori Ajax who is the head of the Bureau of Cannabis Control in a statement said that more applications are coming in faster than they expected. He claims that they are now moving a step closer to ensure that the businesses get the licenses for them to operate easily.

California is now among the eight states in the U.S. that has legalized the use of recreational marijuana. This comes at a time when the U.S. Attorney General Jeff Sessions has remained a huge critic of these legalization efforts. Remember that cannabis is still illegal under the federal law.

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By Friday afternoon, the state officials claimed that the online program for acquiring the licenses had quite a number of visitors. The site was still functioning well. Most of the users were just looking to familiarize themselves with the system before they could make the applications. Right now, the exact number of applications has not been released.

The bureau spokesman Alex Traverso said “People are creating accounts and checking out the site. Some people have started an application, but may be putting in some information and finishing the rest later.” It is always good to familiarize with a site before you can submit some sensitive information.

When these licenses are issued, they should be taken as temporary licenses. They will not be effective until Jan. 1. The businesses will also need to get the local permits to conduct business in a certain locality before applying for the state licenses.

As from Jan. 1, the California state will allow the residents who are 21 or older to legally possess marijuana. As much as that is the case, there is also a limit. You can only possess up to an ounce of marijuana. The residents would also be allowed to grow marijuana in their homes to a maximum of six plants. Well, six plants should be enough for many people to use for personal consumption.

The state law had allowed the various cities and counties to either allow or ban the sale of recreational marijuana in their areas. It is the reason you have to get a local permit first. You will be required to submit the local permit during the application for a state license. You will also have to disclose the owners in the business, their respective locations, provide the diagrams of the business establishments, and produce documents to show how the business will operate.

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The state and even at the city level, they have both been hustling to create the necessary regulations for the marijuana business. With a projection of $7 billion to be injected into the economy, there is the need to ensure that the marijuana sector is managed properly. This means that tracking marijuana from the moment it is grown to the point it is sold to the consumer.

The Los Angeles City Council has comfortably passed regulations that will be used to manage the marijuana sector in the city. It has also given the neighborhoods that would be off-limits to having the pot business. There is the need to create buffer zones around the school, parks, and libraries to protect the kids from easily accessing marijuana.

Let us wait to see how the industry picks up after the introduction of recreational marijuana in California.

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Comments (1)

  1. mitchel philip December 11, 2017 / 10:50 am / Reply

    I am waiting for January for the new updates

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