So Far It’s exciting for us here at Wild West Growers to see the changes happening in the Oregon cannabis community. It’s been over 2 years since we first landed in the Oregon Medical Marijuana Program and we continually look to the future. On January 4th, it became possible to apply for a license to legally operate a recreational business in the industry. However, even though it became possible to apply for a license to operate a recreational retail front, the Oregon Liquor Control Commission may not actually approve any of those applications until later in 2016. We’re only seeing more positive changes as time goes on, always ready to ride the wave.
Up until this point, the main focus has been on situating growers (like us!) into the system, most likely to make sure that the product is ready for the market when it becomes more recreationally accessible. After the growers are taken care of, the next in the lineup will be laboratories, processors, wholesalers, and retailers. Keep in mind – this notes the legal progress for recreation, whereas medical licenses for these categories are already currently legal – along with the availability of cannabis as a recreational product to consumers.
For some perspective on cannabis’ impact on economy, Washington state gathered more than $67 million in tax revenue from the sales of recreational marijuana after only 1 year. The first month of revenue in the US far exceeded projections with almost $3.5 million in tax revenues. According to Business Daily, if current trends continue, the US cannabis industry will pump an annual $44 billion into the economy by 2020 (Wochit, Phillip Smith, MSN.com).
We’re blown away by the positives brought along with the continual legal acceptance of cannabis. Not only is it slowly growing into a lush, healthy industry, but also bringing together people from all kinds of backgrounds and places. More on that later.
– The Wild West Gang