Cannabis Law Group's Medical Marijuana Legal Blog
California Cannabis Could Be What Autos Are to Detroit
A recent report by the University of the Pacific in Stockton revealed that California’s capital region of Stockton could be on the receiving end of some 20,000 jobs and $4.2 billion in business revenue if the state approves legalized marijuana for recreation.
The study comes several weeks before voters are slated to decide whether to legalize the drug. The research was commissioned by Truth Enterprises, a marijuana investment company – one of hundreds that are hoping voters turn out and vote “Yes” on this issue next week.
Daniel Conway, former chief of staff to the mayor in Sacramento as well as to former NBA star Kevin Johnson, is now the managing partner at TE. He says California (and Sacramento in particular) should be to marijuana what Detroit, MI is to automobiles or what Sonoma and Napa are to wine. However, should local leaders in that region chose to stifle the number and types of cannabis companies that are allowed to operate, researchers found that legalization at the state level would bring only about 1,600 jobs and revenue/ wages/ economic growth of about $322 million. Continue reading