L.A.'s pot market awaits green light

With the hashish business set to be legalized in California firstly of subsequent yr, the strain is on for Los Angeles, as some anticipate that the town might be among the many hottest marijuana markets within the nation, if not the world.

“It’s the California gold rush once more — it’s the ‘Inexperienced Rush,’” stated Greg Meguerian, proprietor of The Reefinery medical marijuana dispensary in Van Nuys. “The world’s paying consideration, and on the finish of the day, that is Los Angeles. It’s going to be the most important market on the planet … it’s going to be big.”

“If I’m a vacationer from one other nation, why would I’m going to Washington if I can go to Hollywood?” he stated.

The income projections seem rosy to these hashish companies trying to be part of the Los Angeles market. Some consider that with about 10 million individuals in Los Angeles County, the market probably eclipses complete states like Colorado and Washington, which have already legalized marijuana.

However with lower than 4 months to go, metropolis officers nonetheless have a hefty workload forward of them as they race to satisfy a principally self-imposed Jan. 1 deadline to arrange a program that would probably challenge licenses to dispensaries, cultivators, distributors and different sectors within the business.

And as soon as licenses develop into out there, demand is predicted to be excessive within the Los Angeles space, in contrast with different elements of the state. A survey of hashish companies carried out by the state Division of Meals and Agriculture in 2016 discovered that there have been 2,718 corporations thinking about getting licenses in Los Angeles County, which is the very best variety of the counties talked about within the survey, adopted by 1,415 for San Diego, 1,177 for Sacramento and 1,141 for Alameda.

Native licenses are crucial as a result of hashish companies should get hold of them earlier than they will even start to use for a license with the state.

However some teams representing hashish companies are involved Los Angeles metropolis officers could also be slicing it shut, and it might be properly into subsequent yr earlier than a licensing program is obtainable to many who need to function.

The town just isn’t anticipating to undertake native laws till the top of October, with licensing purposes anticipated to be made obtainable in November. Hiring has not fairly begun for the town’s hashish division, which can be tasked with processing purposes.

• RELATED STORY: LA’s weed business wants a financial institution. Metropolis leaders may create one it could actually use

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