The Next Marijuana Capital of the World is… Los Angeles
Los Angeles will emerge as the marijuana capital of the world. The financial industry has Wall Street, the tech industry has Silicon Valley, and the cannabis industry will soon have Los Angeles. No disrespect to Denver, but Los Angeles is about to come out of the shadows and steal the spotlight.
By some estimates Los Angeles’s medical cannabis market is already worth close to $1 billion, larger than Colorado’s entire recreational market. Unfortunately, most of that business operates in the shadows today. But that is about to change.
California voters recently approved legal recreational cannabis, which will create an enormous market. Consider this: California is already the 6th or 7th largest economy in the world. Bigger than most countries. Now add legal marijuana. The size of the cannabis market will make Disney look like a trip to… well, Disneyland.
No city will benefit more than Los Angeles. While San Francisco has the vibe and will undoubtedly embrace marijuana, the sheer size of Los Angeles – the second largest city in the nation – will create a market of immense proportions.
In early 2017, Los Angeles is expected to pass an ordinance that will clear the path for a proper licensing program and pave the way for a robust recreational market. Surrounding cities are joining in with programs of their own that will support cultivation, production and lab facilities.
Investors have taken notice too, and capital is flowing to fund local ventures. Meanwhile, California’s state treasurer recently launched a working group to address the cannabis industry’s banking challenges.
For individuals, businesses and entrepreneurs that want to start a cannabis business in California, or for those that are already operating, but need to get licensed and legal, contact Denver Consulting Group – the nation’s leading cannabis consultants, and find out how they can help you reach your goals. Denver Consulting Group has helped over 1,000 businesses. No other company has the experience or range of expertise.
Find out more by calling DCG today! Call: 720-890-7344.