Is The Marijuana Growing Business In California About To Be Legalized, Regulated and Taxed?

Years back, I was traveling around our nation by motor home and became smitten with the Northern California coastline, one of the most scenic and beautiful places in the entire United States. During these travels in Northern California I generally picked up a local newspaper at whatever city I was in and stopped into a coffee shop to read it and talk to locals, folks truly living in paradise – and they knew it too.

One conversation I had was with a Native American in Eureka CA, a beautiful area with a little bit of a dark secret – there is a lot of illegal pot growing in those hills, and it was no secret to anyone who lives there or has ever visited or gone to college and nearby Humboldt State University – we talked about the medical marijuana industry and how one day it might be legal to grow for personal use, where people might sell it along-side fruit and vegetables in the regions numerous produce stands. Not long ago, I received a message from this gentleman who I’d met years the prior and he stated;

“We met a few years ago Starbucks in Eureka, Ca and we talked about the marijuana industry. I did mention how it would be legal someday and to our surprise it has passed a lot of hurdles, now it’s on ballot for recreational use in California.”

Am I that surprised? No not really, I know that county is known for ‘illegal marijuana’ growing and it is so pervasive that even the local authorities will go to private homes to make sure their illegal growing activities do not cause fires without reporting them. I thought that was an interesting way to deal with things. I am also aware of the challenges for hikers in the open areas where sometimes drug cartels leave a few people in the hills to grow for them locally there.

Perhaps the legalization which will most likely occur and follow Colorado’s lead will occur soon and in an election I am sure that even if it doesn’t pass this time it will within the next 5-years. Does this mean entrepreneurs should be looking into this sector, getting business plans and financing ready, acquiring land or leased land to grow on? Would you consider getting into the industry once it is legalized? These are all questions which will be on the minds of those who see a potential new market with lots of opportunity. As a non-drug user, it doesn’t appeal to me at all, but I understand it is certainly making headlines out here in California right now.

Indeed, I am sure there will be lots of rules and regulations to start with and progress from there, as competitors lobby the government to get their competitors out of business – which is the way of things unfortunately – we are not exactly the free-markets we claim to be. I see some challenges as the THC levels rise, which is really bad for brain health and could over-tax our Medicare System here in CA, increase healthcare insurance costs, and lead to juvenile use, along with lax work ethic for some thus, decreasing productivity in the work force. Still, it looks like it will pass in California, if not this time, soon – and CA will follow Colorado’s experiment with this. Once it becomes legal making it illegal again might be impossible. Think on this.

This entry was posted in LEGAL.

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