CVIndependent

Tue03262019

Last updateTue, 18 Sep 2018 1pm

Cannabis in the CV

21 Mar 2019
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Cannabis, while legal, is heavily regulated in the state of California—as is cannabis advertising. According to the state’s Bureau of Cannabis Control code, any advertising done for cannabis must be to an audience that is at least 71.6 percent 21 or older—and this presents several problems. First, many advertisers don’t know that this rule exists. Second, advertisers often have no way to confirm the ages of the people who see their ads. “If a cannabis company advertises in a publication or online and cannot verify that (the audiences) meet the age-safety quota set forth by the BCC, the advertiser is at risk of losing their state license,” said Joan Irvine, co-founder and CEO of ResponsiTech, which helps businesses with youth safety and risk mitigation in cannabis advertising. Because the industry is in flux and is so new, it’s understandable that these regulations are unfamiliar to many—but it’s important that people…
19 Feb 2019
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With the rise of the cannabis industry in the Coachella Valley, many would-be investors are wondering whether to jump into the industry—and how/when to do so, if the answer is yes. If you are entertaining the idea of investing in cannabis—specifically, the growth and cultivation of marijuana—there are a several important things to keep in mind. How much do you want to invest … and how do you want to invest? The cannabis industry is growing and expanding at a rapid pace, and there are numerous levels and types of investments to consider, but the main question for investors is: Are you going to “touch the plant,” or get in as an “ancillary” business? “Traditional investors do not want to touch the plant and are looking for ways to get into the industry without actually being in the industry,” said Michael Dickerson of EcoMaster Corporation, which is currently building the…
17 Jan 2019
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The California cannabis industry is now in its second year of legalization—and excitement within the industry is building. Experts in the Coachella Valley have been diligently preparing their forecasts for 2019—so we decided to ask them what they’re expecting to happen. One leader in the industry is predicting great things for 2019. Adrian Sedlin, CEO of Canndescent, which has a large grow facility in Desert Hot Springs, is expecting the industry to boom as legalization spreads globally. Sedlin notes that in 2018, the adult-use cannabis market tripled in population size, and says that as the industry grows with adult use, so will production. He also thinks the political arena is looking better for legalization, as more political candidates are promoting federal legalization. “Many critics argue that California made a mess of things in its first year regulating adult-use cannabis,” Sedlin said. “(The year) 2019 will prove far more prosperous for…
18 Dec 2018
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As we approach the one-year anniversary of legal cannabis in California, the Coachella Valley has gone through many changes—specifically on the employment front. As this new industry has evolved, so have the career prospects in the region, with many cannabis employers in the Coachella Valley ramping up to hire in large numbers in 2019. Understandably, many potential employees have questions about careers in the cannabis industry—and there are a few things any prospective employee should know before jumping in. The job opportunities are numerous and continuing to grow along with the industry, ranging from entry-level jobs, such as budtenders and trimmers, to high-level growers and professional roles, such as human-resource work and executive leadership. While the high-end jobs can pay up to six figures, it is taking some time for the industry to catch up in terms of pay and benefits, although things are beginning to level out. Remember that…
20 Nov 2018
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After California’s legalization of cannabis in January 2018, many people in the Coachella Valley noticed the start of a “Green Rush” of business—and have questions about how it will affect the economics in the valley. Since this is a new industry in the state, that question can be answered, at least in part, by examining the outcomes in states that already have a history of legalized cannabis, such as Colorado. There is a great deal of data that can be gathered from that state showing the Coachella Valley may be on its way to—pardon the pun—much greener pastures. In March, The Denver Post reported the results of a landmark study done by Colorado State University-Pueblo in Pueblo County, which found that legalized marijuana had an unprecedented impact on the economy. It found that the cannabis industry contributed $58 million to the local economy of Pueblo County alone in 2016. Once…

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