The economic impact of cannabis legalization in other states is positive and Maine should look West for inspiration. State tax coffers, event and festival hosts, retail sales outlets, medical suppliers, and gardening suppliers are all seeing financial gains from cannabis.
4/20 or April 20th just passed and millions of dollars were made by those who held special promotions around the unofficial holiday.
Hundreds of thousands of people participated nationally. This translates to millions of dollars in profit. And, states hosting celebrations with legalized cannabis consumption reaped the benefits, too.
“This year,” San Francisco veteran reporter, Vic Lee, quipped “the City is taking the high road.” This was in a report about the annual festival at Golden Gate Park. Some put the number of 2018 attendees as high as 50,000 since legalization went into effect on January 1st. This is a major increase from the 15,000 of attendees last year.
Forbes reports that multiple industries got in on the action this year. Art galleries hosted “puff, pass, and paint” events. Private restaurants hosted cooking with cannabis classes.
The Cannabist wrote that both Lyft and Uber taxi services in gave discounted rides in Colorado with promotion codes like safe420. The slogan “Don’t Drive High” was spread.
Major events spaces such as the Red Rocks Amphitheater in Denver, CO hosted a 2017 4/20 concert bringing some of the biggest entertainers in the music industry. Snoop Dog and Wiz Khalifa performed. Not only did the performers make big money, but all of the support crew from janitors to food distributors and vendors got paid.
Maine is new to cannabis legalization and in some ways still teetering away. With a major tourist economy, there is major potential to increase destination travelers to Maine by embracing and capitalizing on cannabis legalization.