Every day, the cannabis industry changes as innovators introduce amazing new ideas and products. We see this first hand both at our own company and through our customers that work every day to bring quality products to the market. These innovations take dedication which is why we are especially excited about one of our own innovators today.
Last week, the Surna team traveled to Los Angeles to attend the Cannabis World Congress & Business Exposition. This was our first year exhibiting at this show and we met a lot of great people and attended some interesting talks regarding hot topics in the industry.
Cannabis legalization and decriminalization is one of the most interesting topics of this decade. Over the last few years, more states are lifting prohibition either for medical or adult-use. And the results have been astonishing. In just the last eight months alone, Colorado has achieved $620 million in sales and sent $95 million to state coffers . But what Colorado has demonstrated is just the tip of the cannabis iceberg.
We know it has been a while since we published a blog post but it’s not without a good reason. In the last several months we have been working diligently to launch a new Surna website and brand strategy to meet the changing cultivation industry.
For many, the cannabis industry is an exciting new world. The days of secret, basement cultivation are behind us and we’re moving into an era of legitimate commercial businesses. Besides the obvious benefits of avoiding prosecution and participating in a legal enterprise, this migration also offers the industry a chance to share ideas and best practices to achieve a quality, consistent and safe product.
This summer has been a busy one for Surna. We’ve been traveling to a lot of industry events around the country. Last month, we were in DC and Toronto and last week, we went to Oakland and New York for cannabis industry related events. Both of these events were a success for us. Not only did we get to meet more people in the industry, but we also attended some great discussions on a range of topics.
At Surna, we’ve had a busy few weeks and we want to keep our readers up to date not only with what we’re doing but also with what we’re learning about this new industry. In the last month, we’ve gotten up close and personal with both the American and Canadian cannabis markets. On May 15, we traveled to Washington, DC to participate in the National Cannabis Industry Association’s (NCIA) Lobby Days. Then last week we headed to Toronto to attend and exhibit at the Lift Expo. Both events were enlightening and gave us an even better understanding of the trends in, and future of, this exciting industry.
Cannabis is one of the North America’s newest and most promising industries. It is now medically legal in 29 states and recreationally legal in 8 states, with even more allowing CBD for certain medical conditions. A recent poll also shows that close to 60% of American support legalized cannabis and Canada is taking cannabis even further, introducing legislation to federally legalize the plant in 2018. All of this indicates a trend away from prohibition toward a regulated market. And yet, some are still wary of cannabis.
Last week, Canada finally released its much-anticipated marijuana legislation, making it the second country in the world after Uruguay to legalize marijuana for recreational usage. This is an important moment in the development of cannabis as a global industry and we are all watching Canada take on this new challenge. At Surna, we like to stay up to date on everything cannabis-related and have been watching these developments carefully. Now that legislation has been presented, we’ve put together 5 things you should know about how Canada got here and what recreational marijuana will look like for the nation.
As cultivators and owners know, building out a commercial sized facility takes a lot of time, patience and money but can be extremely lucrative in the long run. Large-scale commercial facilities that are up and running are generating huge profits, mostly in cash. But this type of revenue takes time. To get to a place where a facility can sustain itself financially, owners first must go through the long and expensive process of licensing, permitting, obtaining land and/or buildings and, of course, choosing lighting and environmental control.
