Monthly Archives: November 2016

New Report Reveals Massive $2.4 Billion Marijuana Impact on Colorado Economy

3 Indest-2009-2By George F. Indest III, J.D., M.P.A., LL.M., Board Certified by The Florida Bar in Health Law

On October 27, 2016, the Marijuana Policy Project issued a report for 2015 stating that the state-legal medical marijuana industry had a $2.4 billion economic impact on the Colorado economy. The cannabis industry, the fastest-growing business sector in Colorado, is credited with funding 18,005 direct and ancillary full-time jobs in 2015, according to the report. The Marijuana Policy Group (MPG) who issued the report, is a Denver-based economic and market research firm that consults with businesses and governments on marijuana policy.

What Does This Mean For the State of Colorado?

The size of the marijuana industry is quite substantial now and the world is taking notice. As a result, new jobs are being created and operating businesses are generating substantial revenue. However, in the coming years, the estimated growth rate will eventually slow to about 11.3 percent as visitor sales drop off as more states legalize, according to the report.

By 2020, Colorado’s marijuana industry is expected to surpass tobacco as the state’s largest excise revenue source, but cannabis sales also should reach a saturation point, MPG said. As such in Colorado, the cannabis industry generates more economic output and employment per dollar spent than 90 percent of other industries, according to MPG’s report.

Click here to read the MPG’s report in full.

Not All Positive News.

But there is a down side for the marijuana industry. As the marijuana industry in Colorado continues to grow, so will the problems that the industry will face on a day-to-day operating basis. Business owners in the marijuana industry can expect an increase of claims such as product liability claims, customer slip and fall claims, Americans with Disabilities Act (ADA) claims, shareholder lawsuits, and other types of problems that affect any large business. However, this is merely the cost of doing business and one of the prices for success in the U.S.

 

Be Prepared, Don’t Wait Until It’s Too Late.

Those involved in the marijuana industry, especially business owners, need to be prepared to ensure they are in a position to defend lawsuits like those mentioned above. Business owners should make sure they are adequately insured and hire legal professionals with experience in marijuana law to provide adequate advice on important issues.

To read more on the status of the marijuana industry and how The Health Law Firm can assist you, click here.

Contact Experienced Health Law Attorneys for Medical Marijuana Concerns.

The Health Law Firm attorneys can assist health care providers and facilities, such as doctors, pharmacists and pharmacies, wanting to participate in the medical marijuana industry. We can properly draft and complete the applications for registration, permitting and/or licensing, while complying with Florida law. We can also represent doctors, pharmacies and pharmacists facing proceedings brought by state regulators or agencies.

To contact The Health Law Firm please call (407) 331-6620 and visit our website at www.TheHealthLawFirm.com.

 

Sources:

Levine, Steve. “Marijuana Industry has $2.4bn Economic Impact on Colorado.” AHLA Weekly. (October 27, 2016). Web.

Wallace, Alicia. “Report: Colorado weed is now a behemoth with a $2.4 billion economic impact.” (October 26, 2016). Web.

About the Author: George F. Indest III, J.D., M.P.A., LL.M., is Board Certified by The Florida Bar in Health Law. He is the President and Managing Partner of The Health Law Firm, which has a national practice. Its main office is in the Orlando, Florida, area. http://www.TheHealthLawFirm.com The Health Law Firm, 1101 Douglas Ave., Altamonte Springs, FL 32714, Phone: (407) 331-6620.

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“The Health Law Firm” is a registered fictitious business name of and a registered service mark of The Health Law Firm, P.A., a Florida professional service corporation, since 1999.
Copyright © 2016 The Health Law Firm. All rights reserved.

Legal Access to Marijuana Expands: California Legalizes Recreational Pot & Florida Legalizes Medical Marijuana

8 Indest-2008-5By George F. Indest III, J.D., M.P.A., LL.M., Board Certified by The Florida Bar in Health Law

After looking at the red and blue map of America from the recent presidential election, it may be time to add some green. On November 9, 2016, the movement to legalize marijuana, which has been in the public eye for some time now, took a giant step forward. Voters in California voted to legalize the recreational use of marijuana. Voters in Florida, the third most populous state, overwhelmingly finally said yes to legalize medical marijuana use.

Expanding Legal Access to Marijuana.

Twenty-five states have already approved the use of medical marijuana and four states allowed recreational use. California, along with Massachusetts and Nevada approved the legalization of recreational pot use. Florida was joined by Arkansas, Montana and North Dakota in approving medical marijuana use.

Florida’s Amendment 2 passed with 71 percent of the vote. Those opposed to Amendment 2 feared that its passage would lead to pop-up dispensaries with little supervision. But supporters are convinced that it’s a necessary treatment for a wide variety of conditions from seizures to PTSD, addiction to opiates and cancer.
In 2014, the amendment got 57.6 percent of voter’s approval, just missing the 60 percent needed to pass.

Legalization Support.

According to national polls that were conducted, a solid majority of Americans support legalization of marijuana. Gallup’s latest survey for 2016 gauged support at 60 percent, up from 14 percent from when the question was first posed in 1969. Gallup says 13 percent of U.S. adults currently report using marijuana, nearly double the percentage who reported using pot in 2013. Click here to read the recent poll on marijuana support.

To learn more on the legalization of marijuana, click here to read one of my prior blogs.

Contact Experienced Health Law Attorneys for Medical Marijuana Concerns.

The Health Law Firm attorneys can assist health care providers and facilities, such as doctors, pharmacists and pharmacies, wanting to participate in the medical marijuana industry. We can properly draft and complete the applications for registration, permitting and/or licensing, while complying with Florida law. We can also represent doctors, pharmacies and pharmacists facing proceedings brought by state regulators or agencies.

To contact the Health Law Firm, please call (407) 331-6620 and visit our website at www.TheHealthLawFirm.com.

Sources:

Hale, Nathan. “Marijuana Ballots: Calif., Fla. Say Yes To Legal Pot.” Law360. (November 9, 2016). Web.

“Marijuana legalization: California, Nevada, Florida voters say yes but Arizona rejects.” Fox 5. (November 9, 2016). Web.

About the Author: George F. Indest III, J.D., M.P.A., LL.M., is Board Certified by The Florida Bar in Health Law. He is the President and Managing Partner of The Health Law Firm, which has a national practice. Its main office is in the Orlando, Florida, area. www.TheHealthLawFirm.com The Health Law Firm, 1101 Douglas Ave., Altamonte Springs, FL 32714, Phone: (407) 331-6620.

KeyWords: Medical and recreational marijuana use, legal counsel for medical marijuana, marijuana defense attorney, legal representation for medical marijuana growers and distributors, expanding marijuana industry, medical marijuana defense attorney, The Health Law Firm Reviews, lawyer for medical marijuana growers and distributors, health lawyers for marijuana distributors, legal counsel for marijuana industry, approval of Florida’s Amendment 2, reviews of The Health Law Firm, The Health Law Firm attorney reviews, The Health Law Firm

The Health Law Firm” is a registered fictitious business name of The Health Law Firm, P.A., a Florida professional service corporation, since 1999, and is also a registered service mark.

Copyright © 2016 The Health Law Firm. All rights reserved