Who Is Likely to Benefit from Recreational Marijuana in California?



As the insiders strategize on playing the recreational marijuana card in the November ballot, the business and entrepreneurial class is eyeing the pot of gold and are ready to cash in on the herb.

It is without question that the marijuana business can be very lucrative. In California alone, medical marijuana injects well over $2.7 into the economy and this is expected to double if adult use is legalized by California voters later in the year.

According to Dayton, the CEO of ArcView Group, an investment and market research firm, California contributes to half of all cannabis sales made legally in the United States. The company represents close to 500 high-net-worth individuals with a collective investment of $70 million in the marijuana sector. ArcView Group also publishes The State of Legal Marijuana Markets report. If the numbers in the markets are anything to go by, ArcView Group projects that California could be the biggest gem in the union. The prospective California medical marijuana market has a potential ten times bigger than the current one.

There is of course the concern about where the economic growth is going to come from with all the increase in the sale marijuana. Along with what is expected, there are mesmerizing sources looking to get a chunk of the brownie. It can be anyone from officials in the local government and almond growers to the tech executives and inventory system manufacturers. Here are some of those likely to reap the benefits.

l The City of Adelanto in San Bernardino County – It is already geared up to become a cultivation hub. The City commissioners have already seen through 31 applications by members of this humble community to become growers. According to the New York Times, land prices in Adelanto and Desert Springs has tripled due to the demand on parcels in areas where marijuana growing has been permitted.

l Central Valley Farmers – Some have held meetings and deliberated on replacing the water-intensive almond trees with marijuana crops. It comes amidst a backlash by conservationists on water usage. Stanislaus County Sheriff Adam Christianson was applauded and also some laughs in a recent meeting graced by farmers and local politicians at the Gallo Center for the Arts in Modesto. It was after he said his county produces some of the best marijuana. With such an atmosphere, recreational marijuana stands a great chance.

l Cannabis-tourism – The practice is much alive in some states. Tourism has gone up 8% in Colorado since 2015 thanks to pot legalization there. An 8% rise in California due to marijuana tourism can do the state a lot of financial good.

l Inventory-tracking Systems – A jump in sales is inevitable seeing that growers and sellers want to keep tabs on their business. Presently, plant tags that have computer chips in Colorado are made by a Florida-based company.

l Techie Millennial Executives – They are more likely to invest their money in the marijuana industry compared to their colleagues in traditional corporate circles. The latter can shy away in fear of a bad reputation for their companies.

According to Osiris Santos whose company-AmeriCann-helps dispensaries in marketing and branding, when the plant becomes legal, most of the investors will be the same people who are doing it illegally now. New investors are likely to be people who were afraid to get on board before.

Santos runs not only the AmeriCann, but also another company that is involved in the training of dispensary employees about medical uses of marijuana and the differences between THC and CBD. From his headquarters in KushMart medical marijuana dispensary on South Hill Street, just four blocks off the 10 freeway, Santos is actively engaged in market research and observes that real estate is one of the greatest opportunities in L.A. from cannabis. Like in Denver where Avalon Realty Advisors’ CEO Jason Thomas provides commercial real estate services to the marijuana industry, the demand for warehouses will be huge.

The National Cannabis Industry Association’s deputy director, Taylor West is of the opinion that Legalized pot presents cross spectrum opportunities. He states that if California makes up to 50 percent of the U.S market, then the impact of cannabis legalization on the accounting, retail, legal field, food testing, food processing and medicine will be significant.

Steve Berg the CFO of O.penVape, which makes oil products from cannabis, likens the marijuana industry to a tide than can float many boats saying that industry outsiders fail to realize that the marijuana business has needs similar to those of any other conventional company.

The only sector that is going to be left out of the boom is the legal sector. L.A’s best pot attorney Bruce Margolin says defense attorneys will be less busy than they once were since lesser people will get busted.

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