Cannabis producers expand for growth, legalization in Connecticut
ConnecticutMarijuana Industry NewsMedical MarijuanaRecreational Marijuana December 22, 2020 MJ Shareholders 0
The state’s four licensed marijuana growers are planning for the inevitable, if not imminent, approval of cannabis sales for adult recreational use in Connecticut by expanding their footprints.
With the state’s fragile economy — all the worse in the coronavirus pandemic — 2021 could be the year state lawmakers approve full legalization, nine years after medical cannabis was ratified in the State Capitol.
The licensed growers have heard that before. And Democratic majority leaders of the General Assembly are hedging their bets for the upcoming legislative session, with a two-track approach to what in recent years have been failed attempts to approve the politically thorny issue.
Thousands of new jobs in an emerging industry might even be a more prescient selling point than the millions of dollars in projected tax revenue, as more states including New Jersey and New York move closer to full legalization. When Massachusetts reached the second anniversary of its adult-sales program last month, gross sales had exceeded $1 billion.
As of August, Massachusetts had reaped $150 million in tax revenue in the year and nine months, including $30 million alone this June and July. [Read more at Connecticut Post]
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