By Chris Walsh A prominent think tank lends support to Colorado’s recreational cannabis industry, potential dispensary owners in Florida get some good news and a lawsuit underscores business risks tied to the stigma surrounding marijuana. Here’s a closer look at sever notable business-related developments in the cannabis industry over the past week: CO Rec Industry ‘Succeeding’ The Brookings Institution – a well-known think tank based in Washington D.C. - released a report Thursday heaping praise on Colorado’s recreational marijuana industry. John Hudak, a fellow in governance studies at Brookings, recently traveled to Denver to conduct research on the recreational program and interview regulators, city and state officials, and other individuals on the forefront of legalization in Colorado. His main finding: The state has “largely succeed in rolling out a legal marijuana system, and its early implementation efforts have been impressive.” Hudak’s report says Colorado has done an admirable job of creating a stable and well-regulated industry. He points to the state’s inventory tracking system, regulatory limits on the amount of cannabis consumers can purchase, security requirements, temporary barriers for market entry and the funding structure set up for agencies that oversee the industry. “It’s too early to judge the success of Colorado’s policy, but it is not too early to say that the rollout – initial implementation – of legal retail marijuana has been largely successful,” Hudak writes in the report. He attributes that success to strong leadership and communication by state officials, an inclusive attitude taken by working groups and task forces, cultural changes and a flexible regulatory framework that has adapted to new challenges. In terms of what’s not working as well, the report calls out the unregulated nature of home grows, the inconsistency in edibles potency and “misaligned incentives in taxes and tourism.” Those are relatively minor issues, considering that some opponents thought the sky would fall. Cannabis professionals in Colorado and across the nation are well aware that the state’s recreational industry is a resounding success. It’s nice to get some outside confirmation, too.
Posted on: Fri, 01 Aug 2014 17:47:48 +0000
Trending Topics
Recently Viewed Topics
© 2015