Marijuana has had a troubled history in the United States that is just now starting to change. The states of Colorado, Oregon, Washington, and Alaska have legalized both medicinal and recreational marijuana use; 19 other states have legalized medicinal marijuana use; numerous other states have decriminalized certain amounts of marijuana possession — the United States is progressing towards what may be determined as a national legalization of marijuana within a few years time. Surveys have shown that around half of the U.S. population have tried marijuana at some point and seven out of 10 Americans believe that alcohol is more harmful to the health of individuals and the safety of society as a whole. Like it or not, marijuana is changing in the U.S.
Medicinal Marijuana Use
Unfortunately, due to the influence of anti-marijuana campaigns spirited by “Reefer Madness” and other propaganda, there a minority of 6% of studies on marijuana that focus on determining its medicinal properties. In spite of this, around 76% of doctors approve medical marijuana use for patients suffering from AIDs, certain cancers, and other serious medical conditions. In New Mexico, for instance, 27% of the total medical marijuana diagnoses are for post-traumatic stress disorder (PTSD); a condition that affects as many as one in every five military personnel returning from the Middle East. As the nation slowly starts to become more accepting of medical marijuana, there will inevitably be more studies on the drug; as of 2012 there were over 20 cannabinoids that were the focus of studies by the United States Food and Drug Administration (FDA) for medical use.
The Economic Side
Marijuana is highly profitable; this should come as no surprise to anyone. In just five years, it is estimated that the national market for legal marijuana will be worth an estimated $10.2 billion. The capital gained from marijuana taxes by both state and federal government is simply too large to ignore. Colorado reports that sales of retail marijuana have generated approximately $18.9 million in state taxes from January to June 30th last year according to the state’s Department of Revenue. The actual percentage for taxation varies based on state naturally: Washington imposes a 25% tax rat at the producer, processer, and retailer levels for instance — the state collected $3 million on sales of $12 as of last September.
How to Invest in the Cannabis Industry
Investing in the marijuana industry requires a mastery of state legislature, since every state handles marijuana differently. Partnering with cannabis consultants not only ensures an optimal recreational or medical marijuana facility design, but also advice on taxation and every step of the process. Professional marijuana consulting agents can help grow the industry by partnering growers, distributers, and retailers together to form a network of facilities. The key to a successful medical marijuana facility design lies with a mastery of the field; since marijuana is still such a new industry, medical marijuana facility designs that are incompatible with emerging and dynamic industry standards are little more than poor investments and wastes of money. For those looking to embark upon a new frontier, investing in the marijuana industry could be a profitable venture if someone knows what they are doing.