As we previously discussed on our blog (here, here, and here), the cannabis industry, like most industries, is facing challenges related to the coronavirus pandemic. For example, recreational marijuana dispensaries in Massachusetts were not deemed to be essential businesses and were therefore required to close under the state’s emergency order.
Read MoreThe preliminary reports were great. Cannabis shops were deemed “essential businesses” in several states, and according to The Motley Fool “[d]uring the first few weeks of [March], cannabis sales were soaring and spiked around the middle of the month as fears heightened that people would be confined to their homes in an effort to fight the coronavirus pandemic.”
Read MorePrior to the outbreak of COVID-19 in the United States, it seemed like Missouri voters might get a chance to vote this year on whether to legalize recreational marijuana. That appears to no longer be the case, as efforts to collect the required number of signatures to appear on the ballot were suspended on Wednesday.
Read MoreMuch has changed over the last two months. One thing that hopefully has not is the momentum for marijuana reform at both the state and federal levels. On that front, there is good news emanating from Virginia.
Read MoreMarijuana sales in Colorado totaled nearly $1.75 billion in 2019 according to data released by the Department of Revenue’s Marijuana Enforcement Division. The $1,747,990,628 in sales includes both recreational and medical marijuana and is a sizeable increase from 2018, when sales totaled $1,545,691,080.
Read MoreLast Friday, Leafly released its latest annual jobs report and the numbers are encouraging. Leafly reports that the legal cannabis industry supports 243,700 full-time-equivalent jobs as of January 2020. That number grew by 33,700 new jobs over the past 12 months, which makes legal cannabis the fastest-growing industry in the United States.
Read MoreYesterday, the Massachusetts House of Representatives passed a bill impacting Host Community Agreements. These State-required contracts are the lynchpin of the license application process in Massachusetts because marijuana businesses must enter into such agreements with the city or town where they operate as a precursor to getting a license from the State. In particular, the bill would provide the Massachusetts’s Cannabis Control Commission with the explicit power to regulate and enforce Host Community Agreements and would prohibit Host Community Agreements from including any financial obligations for the company other than a “community impact fee” of up to 3% of gross sales. The bill also authorizes cities and towns to waive the State’s Host Community Agreement requirement. However, it is unclear if any cities or towns would actually exercise that right.
Read MoreNew Jersey is often mentioned among the states that may legalize recreational marijuana in 2020. And for good reason. The state has taken several steps over the past year to reform its cannabis laws, including creating the New Jersey Industrial Hemp Pilot Program and overhauling its medical marijuana program to address supply problems, relax quantity restrictions, permit home delivery, and add workplace protections for card holders.
Read MoreTo kick off 2020, we thought it would make sense to provide an update on what’s been going on in Illinois over the last few weeks (there’s been a lot) and is continuing to keep us extremely busy.
Read More
