More than 20 counties and cities in California will be able to establish new markets for recreational cannabis by the end of this Fall. This will allow the creation of 150 retail licenses throughout the state and enable new business achievements such as weed accessories retail for plant-related and other companies.
The cannabis ballot measure initiatives are taken by up to 28 provinces and cities in California. It is a notable amount after the start of adult-use marijuana regulations in the state in 2018.
Retailers will highly benefit from these ballot measures in different aspects. First, the number of dispensaries will increasingly rise in case they are locally licensed. Besides, it will lead to market regulations in the majority of municipalities. It is because they will reconsider marijuana prohibition at a local level with the help of the stated business taxes.
All in all, this will help to lessen a huge gap in weed accessibility. There are still some provinces banning commercial weed purchase. Moreover, according to the California Department of Cannabis Control statistics, only 31% of the state counties and cities legally permit marijuana retail. Thus, as a result of these referendums, up to 150 retail licenses will be created in California.
So, if these ballot measures have successful outcomes, then Los Angeles can approve up to 25, Sacramento up to 20, and San Diego up to 40 marijuana retail stores. This means that more than 15 mln residents will have advanced options to purchase marijuana.
One more benefit is that these referendums will cause to minimize the Californian retail deserts that extend at least 100 miles in the majority of rural areas. Accordingly, more than 1,000 dispensaries and 470 delivery providers are located in the most populated territories.
In addition, some municipalities in counties such as Sonoma and Orange will pass cannabis tax measures. In this case, the local Government will be able to tax weed businesses approving retail operations in the region.
Even though the outcomes of these ballot measures cannot be visible immediately and the process is conducted a little bit slower, California takes game-changing steps in the world’s marijuana industry. This will definitely impact other authorities to follow the successful example. Thus, the main results are expected to be noticed in 2024.