The Business of Cannabis is Coming to Florida
Written by Moses & Rooth Attorneys at Law on April 10, 2017
The LEGAL marijuana business is a $6 billion dollar industry. Yes, that billion with a “B”. No that doesn’t include the ounce you bought off the guy on the street. I am talking strictly about the legal commercialization of cannabis for both medical and recreational use. This relatively new legal market will continue to gain new customers who were former illegal users. In fact the legal marijuana industry may grow to $50 billion within the next decade.
Twenty-six states and Washington DC have some sort of marijuana legalization, either recreational, medicinal, or both. There are seven states plus Washington DC that have legalized pot for recreational use. If you are in California, Nevada, Washington, Oregon, Colorado, Maine, or Massachusetts you can or will soon be able to purchase marijuana for recreational use.
Cannabis is big business and only getting bigger
It looks like this trend will continue and some businesses in Florida will reap the reward. In fact there is one company that is already capitalizing on their license to grow cannabis. The Chesnut Hill Tree Farm in Alachua County was one of only seven nurseries that were issued a license to grow cannabis. Now the Canadian company Aphria is buying them out for $25 million dollars. I can only imagine that every pot dealer who has been convicted of selling or growing weed is currently pulling their hair out. You’d have to sell a lot of dime bags to equal $25,000,000.
Marijuana business in Florida will only continue to expand
Doctors will be making money issuing prescriptions for medical marijuana, dispensaries will open their doors all over the state, and nurseries will grow the medical marijuana. That is only a few of the business that will be getting in on the soon to be legal drug. There will be apps associated with different dispensaries and social media companies will get in on the action. A lot will be changing about how Florida treats marijuana and there will be a lot of people making money on the deal.