Published On: Tue, Apr 7th, 2015

Legal Marijuana Shows Massive Upside to Economy

A store in Colorado legally selling cannabis.

Last year the state of Colorado legalized recreational use of marijuana, since then economy in the state is flourishing. New positions are opening daily, from growers to delivery services. Colorado is not the only state with this policy towards marijuana, but they are the first to provide a service that includes door to door delivery.

Corey Young is the founder of CannaRabbit LLC, courier company specialized in marijuana distribution. Their vans are unmarked so they don’t stick out and there is no unnecessary attention towards their activities. He said that they “simply don’t want to be seen carrying bins with weed in their back while they are going through some small town”. Their clients just want to stay unnoticed, not because they are breaking the law, but just because they want to stay discreet.

CannaRabbit now counts 20 employees that serve around 60 customers a week and since 2014 they started cooperating with Security Grade Protective Services since the demand grew.

It’s not an everyday thing that a new industry pops out just like that. CannaRabbit is working with over 800 growers, manufacturers, dispensers and laboratories. But, since this kind of practice is not allowed in every state of the US this business is still strictly cash based. Banks have been hesitating to extend loans for trade because US authorities may see this as action against the law.

Other states that have legalized marijuana are still struggling with regulation for transport and permits for third-party couriers. It seems that the main issue that is preventing other states to let this be part of their practice is safety. Rural roads in the outskirts and deep forest make pot deliveries difficult and couriers could become easy targets for people who want to make some quick money.

What is certainly clear is that other states who made marijuana legal should consider speeding things up a bit since Colorado is expecting to receive 87.3 million dollars in revenue from marijuana this next fiscal year. Since 2012, when legalization was voted in Colorado, Marijuana Enforcement Division issued about 340 licenses for recreational pot stores.

One more branch that is also rising and making money is the armored cars industry. Blue Line Protection Group Inc, a Denver based company is one of the best examples of steady growth. Since 2013 the number of employees went to 30 from just 3.

The production and sales have increased 14 percent just in the first quarter of 2014 and that is without indirect jobs serving the industry, such as the couriers are. As it seems, this industry is just going to grow stronger and bigger, plus, crime rate is dropping every month. Colorado made a win-win situation for both consumers and service providers that every state should certainly take into consideration.

 

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