Each month, we publish a newsletter discussing a trending topic within the cannabis industry and how it shapes Surna’s philosophy. To be one of the first to receive this information, be sure to sign up for our email list.
Just over a quarter in, 2016 is shaping up to be an exciting year for the cannabis industry. State legal cannabis sales in 2015 totaled $5.7 billion and are projected to reach $23 billion by 2020. Additionally, Oregon’s first month of taxed recreational sales was greater than any other state thus far, with $3.48 million in taxes collected by the state in January of this year. More recently, the Supreme Court declined to hear a lawsuit against Colorado by neighboring states.
With it being an election year, the industry is a buzz with excitement over which states could be the next to legalize recreational or medical cannabis. In advance of the elections, we have seen Pennsylvania legalize medical cannabis through the legislature.
However, not all the news has been positive so far this year. New York’s medical market is struggling through restrictive laws while Montana’s Supreme Court essentially dismantled the entire cannabis industry within the state and Vermont’s legislative push for recreational legalization met major roadblocks earlier this month.
The quest to see cannabis ballot measures on a number of states this year is far from a done deal, as evidenced by struggles in Maine.
This Year Matters
As we all know, cannabis is not yet legal at a federal level. This means that every election provides a chance to shape the current cannabis policy – whether for better or worse. That is why everyone involved in the cannabis industry needs to at least understand how different candidates and ballot measures can impact their business, their investment, or their life.
At Surna, we have been working hard to bring efficiency to the industry. From our climate control systems to our biosecurity products, we view efficiency as key to creating a stronger industry by lowering energy costs which allows for increased margins for businesses. In addition, if cannabis cultivation efficiently uses resources, one argument against legalization falls away.
Get involved in grassroot campaigns in your area, if you believe in them. Support national policy changes. Work with those pushing for change to get your voice heard and to shape a cannabis industry you can be proud of. Research candidates and know where they stand, on both a local and national level. Together, we can create an amazing industry that we can all be proud of.
