Cannabis is big business and with that comes both opportunity and caution. In 2016, cannabis officially became a billion-dollar industry in both Colorado and Washington, creating 23,000 jobs in Colorado since it was legalized in 2012. Washington state generated $241 million in tax revenue in 2016. Currently, all six New England states and Canada have legalized some form of medical and/or recreational cannabis use.
There are lots of opportunities to invest in the industry from growing, manufacturing, testing and selling cannabis to providing much needed services and products to cannabis businesses. Success in this space requires not only a broad understanding of the industry today and where it is headed but also careful navigation through the myriad intersecting federal and state laws involved.
On December 5, Pierce Atwood attorneys Jamie Baker and Sarah McGarrell held a round table discussion on the opportunities, challenges and risks associated with investing in the cannabis industry.