New 60 Minutes Marijuana Story Review
Five states are on the ballot for cannabis legalization next month, Massachusetts, Maine, Arizona, California, and Nevada. This progression in legalization will add to the current list of Colorado, Washington State, Oregon, and Alaska. In the new 60 Minutes cannabis piece, it stated that if all five States voted favorably than 25% of the countries population would be legal.
The 60 minutes cannabis piece featured the Napa Valley of cannabis – Pueblo, CO where currently 90 cultivation facilities are in operations. One of those being a 36-acre campus containing 21,600 plants. Los Sueños Farms is one of the largest recreational cannabis companies in the US, the founders have invested $10M in the project. This project has created 1,600 jobs, 22,000 pounds of product a year equating to $20M a year in revenue. The facility is secured with 289 cameras.
25 states approve medical use, but it is still illegal on the Federal level, the piece reported that cannabis today is 4 to 5 times stronger than ten years ago. The 60 Minute piece featured a DEA bust of an illegal grow in which the agents confiscated 22,000 pounds of plant material equating into $7M.
Gov. John Hickenlooper, the governor of Colorado, was quoted when interview. His biggest suggestion to new states adopting cannabis legalization was to “start getting baseline data” this would be for the positive and adverse effects of marijuana on the state. The governor says some of the early mistakes were made with edible labeling and serving sizes. $141M was collected in legal marijuana sales taxes in 2015 and arrest for cannabis were down 50% since 2012. Hickenlooper stated that the project is “Very Tricky.”