Nevada: Pot Business Mecca

In 2000, Nevada became the 16th state to legalize medical marijuana. Since that time, Nevada has adopted regulations and approved dispensaries, cultivation facilities, and production facilities. Given the number of production and cultivation facilities approved, we believe Nevada has more in mind than just medical marijuana.

Though Nevada was slow to adopt regulations for its medical marijuana program (it took 13 years), voters appear to be much more progressive than previously thought. Nevada registered voters have attained approximately double the required signatures to approve a 2016 ballot initiative for recreational marijuana. This is going to mean big business for our state and our local economies, for the following reasons:

1. Tourism. Las Vegas is the sixth most visited city in the United States, with nearly 40 million visitors in 2013. Tourists are going to come here to take part in the Las Vegas marijuana scene under a recreational regime. Tourism experts expect Las Vegas will benefit from increased spending by the approximately 40 million tourists that visit the city each year and buy cannabis here and by an increase in tourists who would not have come but for legalization.

2. What happens in Vegas stays in Vegas. Las Vegas is known for being a city where people come to relax and let loose. What better place to legalize recreational marijuana? We can just imagine what the Strip will look like with recreational marijuana in play.

3. Recession Recovery. The recession hit Nevada harder than most other cities and an increase in tourism and business in general will provide Nevada with a much-needed influx of funds. All one needs to do is examine the tax revenue generated by both Colorado and Washington since opening their recreational storefronts to know that cannabis is a money-maker for states. With the increased growth in tourism and business, more restaurants and hotels will get built, and more houses for their employees, and on and on.

To find out more about Nevada’s journey with the legalization of medical marijuana, check out: