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Economic growth could be a side-effect of the medical marijuana program
Though the medical marijuana program isn’t designed to be a money-maker, the state could still see an economic boost from program.
The medical marijuana program was signed into law on Wednesday by Governor Tate Reeves, after months of setbacks and debates surrounding the issue.
President of Mississippi Economic Department Council Pablo Diaz states a side-effect of the the medical marijuana program is it could spark an economic boost.
“We have seen some estimates, and we hope they become reality in terms of revenue for the state,” Diaz told WAPT. “I think that the law that passed and eventually signed accommodates whatever community would like to do, or not to do, so we think it is good progress for this state.”
MEDC Board member Clayton Stanley stated those who go into the business, whether growing, processing or retail, will have to learn as they go and establish a whole new economy around the program.
“I will tell you there are going to be challenges that will have to be sorted out, how banks are going to look at the industry, how bills are going to be paid, but all and all it is going to be an economic driver for those communities that elect to participate,” Stanley told WAPT.
Arkansas was recently added to the list of states which allows medical marijuana. In its current two-year lifespan it has generated almost $50 million in tax revenue. Missouri has collected about $200 million in revenue since it began its program.
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