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Main Street Views Topics: InColorado voters passed Amendment 64, making Colorado one of the first states to legalize recreational marijuana.
Since then, the legalization trend has continued, and today, medical marijuana is legal in 29 states and Washington, D. This issue of the Rocky Mountain Economist focuses on the economic impacts of the marijuana industry in Colorado, the first state to open recreational marijuana stores.
Although marijuana is legal in all of Colorado, each local jurisdiction can decide whether to allow medical or recreational marijuana retail stores. As of June65 percent of Colorado jurisdictions out of had banned both medical and recreational stores, 4. Since then, recreational sales have grown sharply while medical sales have remained roughly flat.
By comparison, spending on food and beverages purchased for off-site consumption made up 7. In Januarythere were business licenses issued for recreational retail stores and business licenses for medical marijuana stores.
By Februaryrecreational retail store licenses had more than tripled to stores, while medical licenses had grown slightly to stores. In addition to retail stores, the state of Colorado also provides business licenses for cultivation facilities, infused product facilities, testing facilities, operators and transporters.
In Februarythere were 1, licenses for cultivation facilities including both medical and recreational, licenses for infused product manufacturing facilities, 23 licenses for testing facilities, 12 operator licenses and 18 transporter licenses.
These licenses are issued by the Marijuana Enforcement Division and signify the number of licenses issued but do not necessarily imply that all of these licenses are being actively used.
Between the first quarter of and the fourth quarter ofthere were aboutnew entity business filings in Colorado. By comparison, slightly more than 3, marijuana-related business licenses were active at the end of If all of these marijuana-related businesses started during the first quarter of through the end ofthen they would represent about 0.
The actual percentage likely is lower than 0. As the marijuana industry grew, the industry, and specifically cultivation facilities, began to impact the market for industrial warehouse space, particularly in Denver. The influx of cultivation facilities also has pushed up lease rates, with average lease rates for marijuana cultivation facilities two to three times higher than average warehouse lease rates between andaccording to CBRE Research.
Although there is not an official count of those working in the marijuana industry, the state does provide data on the number of individuals licensed to work in the sector. All employees working in the marijuana industry in Colorado must hold an occupational license issued by the Colorado Marijuana Enforcement Division.
There are three types of occupational licenses including support occupational licenses, key occupational licenses and associated key business owner licenses.Doug Storum writes in the Boulder County (Colorado) Business Report that Superior Ecotech LLC launched a $10, Kickstarter campaign to fund the construction of an algae greenhouse on the rooftop of Upslope Brewing Co.
in Boulder. Boulder County Business Report – July 8, A July 8, article written by Doug Storum published on the website for the Boulder County Business Report entitled “Agile Group Sues Singer. Click here to read the BizWest newspaper from Boulder, Colorado, website, address, phone number, Editor and Contact Information, translate and thousands more online newspapers at lausannecongress2018.com Newspaper Address - Telephone Doug Storum is the Editor of the BizWest in Boulder Colorado.
Visit the Linkedin profile for Doug Storum lausannecongress2018.com?id= Mr.
Knepper is a shareholder and past president of the firm. In his practice, he has prepared and prosecuted hundreds of patent applications for clients in a wide range of technological disciplines. Doug Storum. Greater Denver Area BizWest Media LLC Newspapers Skills: Media Relations, Copywriting, Press Releases, Newspaper, Copy Present Boulder County Business Report June – March Boulder County Business Report July – May Durango Herald January – June Durango Herald May – December Mr.
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