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Marijuana Could Be Cash Crop

November 17th, 2016 by flanews

The business of medical marijuana is getting ready to boom with the passage of Amendment 2.  As Matt Galka tells us, some are predicting big bucks for the industry.

Florida’s future cash crop could be medical marijuana.  Researchers with New Fronteir Data – a cannabis market research company – are high on the cash projections for Florida Cannabis.

Jeff Sharkey and Taylor Biehl, founders of the Florida Medical Marijuana Business Association, aren’t surprised now that amendment 2 has passed.

“This business is definitely emerging,” said Sharkey.

The New Frontier Study says that by 2020, medical cannabis could be a 1.6 billion dollar industry in Florida. That’t also good for the state’s bottom line.

“Seven percent sales tax so it’s going to certainly generate some sales tax revenue for the state,” said Sharkey.

The legislature still has a role in implementing Amendment 2. What’s there next move? It’s a burning question

 

“We will defend and protect the people’s right and they’ve spoken loudly and clearly and overwhelmingly, the second thing we’ll do is protect the state,” said incoming House Speaker Richard Corcoran.

 

“The legislators want to say ‘let’s do this right, let’s do this so it’s safe, accountable, it’s also available and affordable,” said Sharkey.

Because of the state’s population and the expanded patient pool, Florida could make up nearly 10 percent of the legal cannabis market in the United States.

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