How Becomes a Marijuana Boom State?
The marijuana boom has created an enormous cash crop for Oklahoma. The medical marijuana industry generated $138 million in revenue last year, and there are now nearly 45,000 licensed growers statewide. The low cost of licenses has also spurred thousands of grow operations to open. However, the industry is facing some growing pains, as it cannot support the number of businesses operating in the state. However, with more regulations coming, the state hopes to avoid a public health disaster and still generate tax revenue. medical marijuana card lost,ny
Medical marijuana has become legal in Oklahoma since it legalized the drug in 2010. Currently, 10 percent of the state’s four million residents have medical cards and a legal marijuana market is developing. However, some rural utilities are experiencing trouble keeping up with the growing demand for water and electricity. It’s not clear why marijuana is becoming so popular in Oklahoma. There is no single explanation, but there are several factors that could help make the state a marijuana-friendly environment for business.
The cannabis industry is riding a high from the coronavirus pandemic. While many laid-off workers turned to the industry in a panic, demand has remained high. The industry is expected to add nearly 80,000 jobs by 2020, double its total in 2015.
Another factor that has lured weed entrepreneurs to Oklahoma is its low barriers to entry. Starting a marijuana business in Oklahoma costs as little as $2,500, while a similar venture in Arkansas costs over a hundred thousand dollars. Oklahoma’s tough stance on crime has also encouraged entrepreneurship. Unlike other states, it has no limits on the number of cannabis farms or dispensaries. Further, the state does not require a license.
Despite the lingering legal problems associated with marijuana use, Colorado has become a booming marijuana industry. Legalization of the drug has increased the number of tourists visiting the state for recreational purposes. Colorado has also benefited from its laws to control its availability. While soaring demand has resulted in a booming recreational marijuana industry, it has also resulted in a black market. This has created a serious problem for the state, which is currently being resolved.