What Cannabis Sales Mean To The Tax Base Of States

The State of New York is dealing with a severe budget shortfall and they are turning to cannabis as a portion of the solution they so desperately need. Here’s what the state determines the legalization of cannabis could mean for New York;

  • 60,000 new jobs
  • $350 Billion in economic activity
  • $300 Million in tax revenue

All states have a high degree of responsibility to make legal cannabis profitable in order to support the growth of both their labor market and tax revenue. In order to do this states must work to better control the cannabis black market. Two ways to decrease the black market is by helping growers increase the quality of the product they produce and enforcing current laws. Cannabis buyers are much the same as buyers of other products… If every factor is the same they will go with the low cost product. When one option is superior they more often than not choose the superior brand. Quality matters! The 2021 consumer of cannabis is very different than the 1970 consumer. In 1970 most anything would suffice. The 2021 consumer has choices they didn’t imagine 50 years ago. The 2021 consumer also has a higher income!

One of the areas Cannabis Grow Builders helps growers with is the production of consistent a predictable product and consistent quality from crop to crop. This is where branding comes into play. Imagine creating a formula which decreases the severity and length of a migraine headache. If you’ve ever suffered through one of these you know the struggle. Having a proprietary formula like this could lead to price elasticity and lead to increased demand for other formulas the grower has. Let us know… We Can Help!  

Cannabis Grow Builders has been involved in the emerging legal Cannabis Industry as a builder and developer of grow facilities since 2016. Daniel Stevenson and his team work with Cannabis Entrepreneurs and Solopreneurs to maximize the potential in their business while remaining on the cutting edge of constantly changing governmental regulations. Please reach out to us at 916-933-7333, via e-mail at daniel@cannabisgrowbuilders.com

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