All Articles Tagged "marijuana"
— Jezebel (@Jezebel) June 2, 2016
I was born in 1987, when Reagan was on his way out. But the War on Drugs had already been embedded, not only the law enforcement policies but also in the culture. Before we graduated from fifth grade, we had to pass a D.A.R.E. (Drug Abuse Resistance Education) class. Among the pictures of drug abusers, we learned that marijuana, weed, was dangerous, a gateway drug. And at the very same time, I was listening to my Jamaican grandmother and her stories about the ways in which ganja tea healed my uncle as a sickly newborn.
So I knew that weed couldn’t be all that bad.
As I got older and learned how Black and Brown men were going to jail in disproportionate numbers for being in possession of and selling this so-called dangerous weed, I realized that there was something else at work here.
But these days things are a little different. More and more states are relaxing their stances on weed. Now, 25 states and the District of Columbia have legalized the herb in one form or another, opening up an entirely legal marketplace for the drug, both recreationally and medicinally.
And interestingly enough, while Black and Brown men were incarcerated for selling this plant, today many White men are becoming rich off of its legalization. Today, Black folk have been iced out of the billion dollar industry due to lack of connections and start up money. (And I’d even argue fear.)
But that’s not the case for Sue Taylor, a woman in her late sixties and a retired Catholic school principal, who is getting into the business. In a recent interview with Jezebel, Taylor explained how it all started with a phone call from her son Jamal. Taylor was living in Atlanta, Georgia writing a parenting handbook, when he called to tell her that “he’d been attending the first-ever marijuana industry trade school, Oaksterdam University, which teaches students to grow, sell and advocate for marijuana medicine. In Oakland, as in the rest of California, the use of cannabis for medical purposes is legal with a doctor’s recommendation. He said he’d figured out how she could open the metaphysical holistic center she’d dreamed of opening for years.”
She didn’t receive the suggestion with open arms. Instead, she freaked out.
“I said, ‘Oh my God, this boy…I sent him to Catholic school all of his life, and then he calls to tell me he wanna sell weed?”
From there, Taylor jumped on a plane to Oakland with intentions of saving her son from his mistake.
“But then, in Oakland, with her son’s encouragement, Sue began to meet and talk with professionals in the cannabis industry—scientists, advocates, dispensary workers. She learned that no one has ever died from cannabis ingestion or overdose, and that hundreds of medical studies of the herb have proven its potential. She learned that cannabis has been used for healing for thousands of years to treat pain, nausea, inflammation and other symptoms. She also learned that it’s generally safer and often more effective than synthetic pharmaceutical drugs, especially for the elderly—and much cheaper, too. But nothing convinced her of weed’s medicinal potential more than the patients she met. Eventually, their stories of personal healing—from everything from chronic pain to cancer—changed her outlook on the herb.”
Taylor said if she were ever going to enter this business, she would have had to been led by something or someone that could catch her attention. And in this instance it was her son.
“If I was gonna be the messenger, the senior face of medical cannabis, the universe knew it had to grab one of my children,” she said. “That’s the only way I would have gotten involved in it. It caught my attention, you see? Nothing else would have caught my attention, and nobody.”
From there, Taylor started volunteering at Harborside Health Center, a cannabis collective in Oakland, teaching people in their 70s, 80s and 90s about how to use marijuana, advising them to always inform and consult with their doctors about their decision to use medicinal marijuana.
In addition to helping the elderly, Taylor is in the process of opening a cannabis club in Berkeley, California, the iCANN Health Center. Taylor said the club will also serve African-Americans and other minorities who have been marginalized in the cannabis scene. iCANN is the first club with a multi-generational, mixed race group.
But the building of the club hasn’t been without its struggles.
“The process leading up to iCANN has been, at times, financially and emotionally devastating for Sue. About nine years ago she poured her life’s savings, as well as investments from several family members, into a cannabis club endeavor in Los Angeles right before the US Drug Enforcement Administration (DEA) cracked down on the region’s pot collectives. While a number of collectives defied the mandate and kept their doors open—on the gamble that they likely wouldn’t face any serious charges—Sue says she and her family suspected that, because they’re black, they would be the first targets for arrest and further government crackdown. So, they closed their doors. When she tells this story, she cries.”
In a public conversation with Asha Bandele of the Drug Policy Alliance, Taylor explains the history behind her family’s fears.
“In many ways the imagery doesn’t sit right,” she said in a public conversation in 2014 with Asha Bandele of the Drug Policy Alliance. “Here are white men poised to run big marijuana businesses, dreaming of cashing in big—big money, big businesses selling weed—after 40 years of impoverished black kids getting prison time for selling weed, and their families and futures destroyed. Now, white men are planning to get rich doing precisely the same thing?”
And there is a threat, in reality. Taylor tells Jezebel.
“I want to be careful what I say because I wanna protect people’s anonymity—with individual white males who are in the industry, and I mention to them that the rules aren’t the same for African Americans. I tell them if my son was doing the exact same cultivating and vending as they are, the rules wouldn’t be the same.
I have one friend, a white man who I met about a month ago, who drives around with tons of cannabis, vending it to different dispensaries. They haven’t been stopped, they have a lot of cannabis plants, and they’ve been doing this for a long time. And I said, my son Jamal can’t do that, because he’ll be arrested. Two of his friends, both black, have been arrested for legal work in the industry. One got arrested last week in Mendocino County. The other one had two pounds, and got arrested. He’s facing a felony now—for vending.
But when I mentioned that to two fellows in the same line of work who are white, they didn’t get it. They had no knowledge of the difference with race. They don’t get it, because it doesn’t happen to them, you know? They don’t get that if you’re driving while black, the cops stop you. And maybe you have a bag of weed. They bring you in and they say, “Hey, you look like that black guy that robbed that liquor store last week. You meet the description: You’re black and you’ve got curly hair.” So they roll him for that, too.
So it’s hard for black entrepreneurs to come into this business. Lots of people just say no, we don’t deal with that. One of the reasons why I want this dispensary is because it will be a place other entrepreneurs and African Americans can see: we can invest in this business. It’s a lucrative business, why can’t we have a piece of the pie?”
You can read the rest of Taylor’s interview here.
Instead of getting paid, sick leave for your menstrual cramps, how about you just get a little herb to help take care of that? We’ve mentioned the use of marijuana to treat cramps before. But now, there’s a celebrity name attached to it: Whoopi Goldberg.
Whoopi has been very vocal about her support of the legalization of marijuana and now she, like Snoop Dogg and Bob Marley’s family, is attempting to make some money from its accessibility in California.
She told USA TODAY, “I want to go nice and slow with this. I don’t want this to be a joke to people. It’s not a joke to women.”
The company, named “Whoopi and Maya,” after her co-founder Maya Elisabeth, will initially offer four products: a balm, a tincture, sipping chocolate and a bath soak. All of the products are infused with marijuana and will attempt to reduce the pain of cramps and periods. Price points for the products have not been set yet.
Unfortunately, for most of us, the products will only be available in California, for those who have medical marijuana cards. They’ll be on shelves within the next few weeks as well as dispensaries throughout the state. Until marijuana is legalized in other states, the products will be limited to California.
Elisabeth said that she and Whoopi’s products will be successful as it appeals to 50 percent of the population. Elisabeth also said that women have been herbal healers for generations and believes that their line of products follow in that tradition.
According to USA TODAY, because the federal government has largely restricted research about the medical benefits of marijuana, there is little scientific data about the benefits of the plant.
Whoopi herself said that smoking or drinking marijuana-infused tea helped control her cramps and pain. Currently, she uses a “vape” pen, filled with marijuana oil to treat her glaucoma headaches. The mission of marijuana is important to Whoopi. She said she’s not interested in selling cannabis to people who simply want to get high. At 60-years-old, she said she’s willing to potentially violate federal law because she believes so strongly in the company’s goal.
She said, “This is a nice quiet way that I can be a part of this. It had to help people if I were going to be involved.”
Every woman I know thinks they have the worst menstrual cramps when it’s time for their periods to come a-knockin’. But if your PMS pain is so intense that it’s nearly unbearable, there is a new product on the market to help you find relief. Well, it’s not really that new, but it’s an old favorite for some, and it’s being used in an entirely different way.
I’m talking about weed.
Foria Relief is a suppository you put in your vagina, and while the product will make you feel better, you reportedly won’t have to worry about it making you high (sorry, sis).
It’s made of organic cocoa butter, CBD (which tackles inflammation and muscle spasms), and THC (which is the psychoactive component of cannibis that helps to treat pain). Foria Relief is said to help you relax, shut down back pain, and diminish anxiety. It reportedly should help patients feel better 15 to 30 minutes after usage. And according to The Daily Beast, the product, if successful at relieving the brutal symptoms of endometriosis, could possibly be used to help to alleviate pain during childbirth. Talk about a big jump. But considering that marijuana usage by pregnant women is heavily frowned upon due to the possible risks to the brain of a developing child, we’ll see how far such high hopes can actually go.
The suppositories can be used at the same time that a tampon is inserted, but painkillers should not be paired with the product unless your doctor says it’s okay. But don’t get too geeked up ladies. So far, Foria Relief is only available in California and Colorado dispensaries, and while they have people talking, and have good reviews, they are leaving doctors pretty skeptical. Dr. Lauren Streicher of Northwestern University and author of Sex Rx told Women’s Health “There simply aren’t any studies that show this product does what it claims to do.” Not yet at least. Therefore, she’s not recommending that women flock to use it.
My cramps aren’t debilitating enough for me to run to a product like this, so I’ll stick to ibuprofen, rest and a heating pad. But what about you? Would you ever be down for a suppository with THC to help with your cramps? If you are, you can get a four-pack for $44. That is, if you’re a member of Foria’s cannabis collective and hold a state-issued medical marjiuana ID. You didn’t think it would be that easy did you?
A few days after protests started in Baltimore over the suspicious death of Freddie Gray, while in police custody, the web site Heavy posted his arrest record.
As no surprise to anyone with an understanding of socioeconomics in low-income communities (or folks who have watched a couple of seasons of The Wire), most of those arrests were for intent to sell/unlawful possession of controlled substances, including marijuana.
A mere 187 miles up I-95 North, the New York State Department of Health has started accepting applications for licenses to grow legally and distribute medical marijuana in that state. Also of no surprise to anyone with an understanding of how capitalism works to disenfranchise the most vulnerable of society, those licenses aren’t cheap.
According to Fusion:
Applicants will have to plunk down a non-refundable $10,000 application fee along with the $200,000 registration fee to enter the program. The registration lasts for two years. After that, growers have to pay again, according to the New York State Department of Health. The state will award five licenses for its highly regulated medical marijuana program. Each registered grower will be allowed to open up four dispensaries, which is roughly one dispensary per million residents in the state.
It was on July 7 when New York Governor Andrew Cuomo signed the state’s medical marijuana bill into law, making New York the 23rd state in the country to legalize the controlled substance. Democrats & Chronicle fills in the story:
After the law was approved, it started an 18-month clock for the health department to have the program up and running. The program will allow state-certified doctors to prescribe the drug to patients with cancer, epilepsy and other serious diseases and conditions. Medical marijuana advocates have been clamoring for the state to speed up the process, saying patients, particularly sick children, need the drug as soon as possible.
Government sure knows how to work fast when it really wants to, eh? And as The New York Times reports in this article from last October entitled, “For Pot Inc., the Rush to Cash In Is Underway,” government isn’t the only entity in New York trying to get a jump on the medical marijuana greenbacks. Groups of entrepreneurs and venture capitalists have been meeting and strategizing about how to get their hands on one of those lucrative and costly licenses since the bill was first signed into law. One of those people is a 30-year-old former financial adviser, who told the Times that he had been meeting with “a group of investors who were eager to sink tens of millions of dollars into the New York cannabis trade.”
If the diverse interest in the drug trade surprises you, you should know that in Colorado, which legalized marijuana for all uses, including recreational back in 2012, both sellers, and the local government are making so much money, the state has returned more than $30 million in tax revenue to its citizens.
Meanwhile, on the socioeconomic disenfranchised blocks behind Wall Street and around the corner from Main Street in New York City, Mayor Bill de Blasio and NYPD Commissioner William Bratton have started arresting less people for possession of marijuana (less than 25 grams) and instead issued misdemeanor citations. The same thing has also happened in Colorado where arrests for marijuana have dropped by 95 percent.
But according to this article from last November in Capital New York, Blacks and Latinos are still disproportionately represented among those who are both cited and arrested (five times more than our White counterparts to be exact) under this new, softer marijuana law. And according to this article from last month in the International Business Times, the rate of arrests for Blacks remains 2.4 percent higher than it is for Whites. It should also be noted that Blacks only make up 4 percent of the total population in Colorado.
Elsewhere in the country, Black farmers in Florida are crying foul over that state’s new Compassionate Medical Cannabis Act, which was signed into law last year by Governor Rick Scott. According to ThinkProgress, “those who qualify for licensing must have operated as a registered nursery in Florida for 30 consecutive years — a criterion that many, if not all, black farmers in the state can’t meet. Farmers of color say they’ve been hampered by the U.S. Department of Agriculture (USDA)’s past discriminatory practices that have made it difficult for them to thrive in the industry.”
If you haven’t yet clued in on what I’m trying to say here, let me make it plain: Despite our people being most likely to be negatively affected by these draconian drug laws, it seems like we are also the least likely to profit off of its legalization. Old Kanye tried to tell us “Drug dealer buy Jordans, crackhead buy crack. And a White man get paid off of all of that.” But we didn’t hear him tho’. And that is why he is crazy now.
Snoop Lion’s love for marijuana has taken a business turn with an investment in a company named Eaze. His venture firm, Casa Verde Capital, has contributed to a $10 million fundraising bid for Eaze’s mobile app, which aims to be the “Uber for marijuana.” Although the size of the investment has yet to be confirmed (other investors also took part in the $10 million investment), Eaze’s CEO Keith McCarty said the “biggest reward is when prestigious investors complete their due diligence and choose to invest in our vision. It’s quite humbling, actually.”
Eaze was launched last July in the Bay Area. Since its launch, Eaze has made 30,000 deliveries. This past November, the company raised $1.5 million and it is focusing on hiring 50 people in 50 days in demographics where marijuana has been legalized, reports The New York Post.
Besides Snoop’s investment, other funding was contributed by DCM Ventures, Fresh VC and 500 startups. Kyle Lui who serves as DCM’s principal believes the marijuana market can increase to $100 billion. He says “the regulatory environment and public sentiment a couple of years ago was quite different than what it is today. We think the market for legal cannabis will continue to grow very rapidly.”
Recently we covered a couple who shared their journey to becoming investors in the marijuana industry. They now encourage other people of color to do the same.
In the piece, Khadijah and Charles Adams share:
“Some may call Joe Kennedy a bootlegger but I call him a smart man. He invested in alcohol before its federal legalization and he didn’t just invest in the drink – he invested in everything around it like distilleries, and bottling companies, which created wealth, fame, and political power for his family over time.The same can be said for marijuana.
“We are not saying to invest in the flower, we are teaching people how to invest in companies that support the cannabis industry through stocks. Some of these stocks are selling for literally pennies. Those prices will begin to go up as marijuana becomes legalized across the country. It’s our job to educate our communities of color how to create legitimate portfolios before it’s too expensive to buy shares.”
Would you become an investor in the marijuana industry?
Beyond white picket fences, across manicured lawns and behind apartment doors throughout the country there dwell a set of thirty-something moms who fix dinner, put the kids to bed, and then relieve the stress and strain of a long day by taking a break to toke up. Whether they work outside of the house or stay at home, for moms who smoke marijuana, getting baked is as normal as baking a casserole, and as natural as unwinding with a glass or two of wine, despite the fact that weed remains illegal in most states.
How prevalent is the trend of marijuana smoking moms?
Dr. Dana Saltzman of New York’s Midtown Health & Wellness treats a number of mothers who habitually get high and feels that this may just be a part of the natural progression of things as the legalization of the drug spreads and it becomes more mainstream.
Not everyone is so supportive when it comes to parents and pot though.
“Most people I know have tried it once and a few may have done it on a regular basis back in the day, but to me it’s just one of those things you give up when you become a mom; or an adult. It’s called maturity,” says one 36-year-old mom. “When I think of weed I think of high school and college kids,” she continues. “I feel like people who are still doing it as adults — especially as parents — need to seriously reevaluate their lives.”
To most people, parents who are prone to lighting up a joint are simply irresponsible.
“I think if you have children under your care, any smoking around them is hazardous; especially marijuana,” says a 38-year-old mother of three who thinks that sipping on a glass of wine, however, is perfectly fine, “as long as you are in control.”
“I’ve also resorted to an occasional glass midday when all three kids melted down [from being] stuck in the house on a snow day,” she explains. “It was the wine or somebody — mommy — locking herself in the bathroom.”
But that’s actually one of the reasons why moms who smoke weed feel that it’s not as bad as everyone makes it out to be. The vast majority of them wouldn’t even think of doing it around their children, unlike alcohol, which a lot of people have no problem drinking when their kids are in the room.
While everyone has their own reasons, one 33-year-old mom of three feels that marijuana is the “all natural” alternative to popping a Xanax when anxiety strikes. “I’ve had very negative side effects to medication, and I know with the weed there are not any bad side effects.”
In fact, many smokers agree that weed is far better than legal prescription medication.
“Honestly, I don’t see the big deal. Would people be happier if I was self-medicating with prescription drugs or things like Benadryl or Tylenol PM?” another 33-year-old mom asks. “I know a lot of mothers who do that and wash it all down with alcohol.
“Everyone may not necessarily go to that extreme, but that’s no different than me having a joint every now and then. It’s not like I’m sitting in my room in a haze of smoke while my kids run wild around the house.”
The long term effects of smoking weed are still being studied, but even medical professionals can make a case for smoking a little pot versus sipping on some pinot.
“When looking at whether a mom can function better using pot or alcohol, the amount consumed will make all the difference,” notes Dr. Saltzman. “There have been more and longer studies on the devastating impact of alcoholism on parenting, but I would put my money on the less studied ‘pothead mom’ being a safer bet.”
As for those indulging in higher amounts of either weed or alcohol, Saltzman still feels that marijuana is the lesser of the two evils.
“Pot does not cause any acute onset disastrous effects,” she explains. “It can worsen your balance and driving ability. It raises your heart rate — 20-100% for up to three hours — and blood pressure for several minutes. On the other hand, alcohol’s effects on these are far worse.”
Side effects and stats aside, it seems that no matter what it is that people are smoking, drinking, or popping, everyone is looking for that same sense of calm; something that can be hard to come by as a mother.
Whether it’s legalized or not, pot may continue to be a faux pas when it comes to parenting. But will that keep moms who smoke marijuana from getting high? To be blunt (pardon the pun) — no.
Tell us what you think. How do you feel about moms who smoke marijuana?
Bob Marley is known for his revolutionary music and iconic image for world peace. The late reggae-ska musician is also known for his Rastafarian religious beliefs where followers smoke marijuana to feel closer to their messiah, Haile Selassie I (former Ethiopian Emperor). Since marijuana is closely linked to the Marley brand (and the fact that marijuana use is becoming more and more mainstream), his family and a Seattle based private equity firm have announced the creation of Marley Natural.
USA Today says the brand is a “premium cannabis brand rooted in the life and legacy.” Marley Natural will also serve as a the first global brand of marijuana. The marijuana line will include pot-infused creams, strains of heirloom Jamaican cannabis (Marley’s favorite type of marijuana to smoke) and accessories such as vaporizers. Marketing for Marley Natural will be handled by the same agency that works on New Balance and Starbucks Coffee. The cannabis from the Marley Natural line will be sold separately in buds, oils or concentrate.
Brendan Kennedy, CEO of Privateer Holdings, which owns Marley Natural, says of the business launch, “This is what the end of prohibition looks like. Bob Marley started to push for legalization more than 50 years ago. We’re going to help him finish it.” Rita Marley, wife of the late musician, says Bob smoked a pound of marijuana a week and noted the business launch is what their family dreamed of. She also noted how Western society condemned marijuana in the past by calling the plant weed or drugs. Rita Marley said, “We saw it as a spiritual thing, given to us by God.”
This is not the first business the Marley family has started since the death of their patriarch Bob. The Marleys have licensed brands of coffee, audio equipment and clothing merchandise.
Marley Natural is set to launch in late 2015.
Below, is a news video on the Marley’s marijuana business.
She said it was a move to bring attention to what she calls “marijuana prohibition.” But whatever the reason behind her dramatic exit from her job as a news reporter, Charlo Greene’s final farewell was one for the books.
While ending a segment on Alaskan drug laws for her now-former television station, Greene said, “Now, everything you’ve heard is why I—the actual owner of the Alaska Cannibus Club—will be dedicating all of my energy toward fighting for freedom and fairness, which begins with legalizing marijuana here in Alaska. And as for the job, well…not that I have a choice, but f**k it, I quit.”
And after her notorious on-air resignation for marijuana legalization, which she tells the Huffington Post she planned for months, Greene swiftly transitioned from her day job to her newest title, “marijuana advocate.”
“There comes a time in each and every one of our lives when we must choose to continue to spectate or stand up for what’s right,” Greene explained in a video titled “Why I Quit.”
She claims that “what’s right” in her opinion is fighting for the legalization of marijuana in her state as she puts it, “advocating for freedom and fairness.”
While the way she went about doing so might be controversial and off-the-cuff to say the least, Greene tells the Huffington Post she took such drastic measures in hopes of bringing “attention to our current marijuana laws.”
Greene said she wants “to inspire Alaskan voters to really get up, get angry, see that right now we have an opportunity to change something …and we can do that by showing up and voting “yes” on ballot measure 2 on November 4th here in Alaska and legalizing recreational marijuana.”
Her resignation didn’t go over so well with her former boss, Bert Rudman, news director at KTVA who following her on-air goodbye, himself went in front of the camera to apologize to his viewers for Greene’s actions, “By now, many of you have seen one of our reporters use inappropriate language and quit her job during Sunday’s newscast,” he said. He continued, “At KTVA we strive to live up to the highest journalistic standards of fairness and transparency Sunday’s breach of those standards is unacceptable and cannot be tolerated.”
But Greene has amassed a group of supporters including one of America’s most notorious cannibus lovers, Snoop Dogg. In an interview with Greene the California-bred rapper said, “If we get y’all to vote yes on Proposition 2, Snoop Dogg is coming to Alaska for a concert, a wellness retreat and I’m brining some of that California with me.”
During that same interview Greene told Snoop that her resignation did exactly what she hoped it would, saying that many young Alaskans who might vote for Proposition 2 weren’t even registered to vote prior to her now-viral resignation, but are now.
And when asked by a Huffington Post reporter if she had any regrets about the way in which she quit her job, Greene promptly kept it short and sweet, “None.”
Last night, KTVA broadcasting journalist Charlo Green quit her job. An anchor in Anchorage (Ha!) quitting her job wouldn’t normally be newsworthy. But she did it during a live segment. She was reporting on the Alaska Cannabis Club (ACC), Alaska’s only medical marijuana resource. And, as it turns out, Green is the ACC’s CEO.
Green confessed: “I, the actual owner of the Alaskan Cannabis Club, will be dedicating all my energy toward fighting for freedom and fairness, which begins with legalising marijuana here in Alaska. And as for this job, not that I have a choice, but f*ck it – I quit.”
The ACC serves as a liaison between medical marijuana laws, constitutional protections and state marijuana laws. Green never disclosed her high level position with the group.
Afterward, Green walked off camera leaving her co-anchor flabbergasted while apologizing for Green’s profane language. Cosmopolitan suggests Green’s resignation preceded her on-air declaration based on her using the phrase “not that I have a choice.” Currently, Green is requesting donations for her legalize marijuana platform via an Indiegogo page. There, she notes:
“I’m Charlo Greene, the president and CEO of the Alaska Cannabis Club – Alaska’s only legal medical marijuana resource. I just quit my news reporting job on live TV to announce that I am redirecting all of my energy toward helping to end a failed drug policy that has ruined the lives of far too many Americans. Ballot Measure 2, the initiative to Regulate Marijuana Like Alcohol in Alaska, isn’t just about marijuana in the Last Frontier, it’s about keeping the ball rolling on NATIONAL legalization. Imagine, if after Colorado and Washington have legalized recreational marijuana and are offering the rest of the world a positive outlook on what ending marijuana prohibition can do, Alaskan voters fail to continue moving our nation in the direction toward freedom and fairness. There’s no doubt that will impact every other state, national and international marijuana reform effort. Americans with common sense don’t want that. Help us to keep that from becoming a reality.”
Seeking a goal of $5,000, ACC has currently earned $2,909 from its Indiegogo page.
Below is footage of Green quitting during her broadcast segment.
In this next video, Green reveals her real name: Charlene Eggbe, why she quit her broadcasting job and the clause behind Alaska Cannabis Club.
Now that Colorado has legalized recreational marijuana use, it has become a booming business in that state, with entrepreneurs popping up with new ideas, new lifestyle coverage for the local papers, and a revelry in the cannabis life that was on display for this weekend’s celebration of 4/20 Day.
While we can make all sorts jokes about getting high, there are lots of opportunities to get rich (or at least to make a good amount of money) by building a business in this new and quickly growing industry. The latest stats we found show that cannabis is a billion-dollar business now and will grow into a multi-billion dollar business within the next few years.
Terra Tech is broadening its agricultural business by moving into the cannabis business, hosting an open house last Thursday to show off its greenhouse, operated through its wholly-owned subsidiary Edible Garden.
“Some have estimated that it will be upwards of a $100 billion industry,” Derek Peterson, CEO of Terra Tech told us via email. “There’s also an emerging trend of eco-friendly products, which is part of the reason we’ve decided to set up eco-friendly cultivation facilities to be able to produce the highest grade cannabis possible in a responsible way taking advantage of natural light.”
Located in Belvedere, NJ, Edible Garden grows herbs and greens in eco-friendly ways for restaurants and local supermarkets. Eventually, at this new state-of-the-art greenhouse, the company would like to add cannabis to the list of offerings.
With more states likely to legalize marijuana, now’s a good time to think about some of the business options available to an entrepreneur looking to get into this business.
“There are many different niches of the cannabis industry,” Peterson wrote. “We’ve targeted the cultivation sector because we feel production will be one of the largest sectors in the industry. I’ve gone from Wall Street to the cannabis industry because of the opportunities of this emerging market, and investors are becoming increasingly more interested in this industry as well. There doesn’t seem to be a lack of people interested in the industry, but finding the right players to align yourself with can be tricky.”