Thursday, August 15, 2019

Texas expected to drive legal cannabis boom in New Mexico

The cannabis legalization task force established by New Mexico Governor Michelle Lujan Grisham has released some details of its discussions to the media. Kelly O’Donnell, an economist and consultant who has studied the market, told participants New Mexico should expect increased tourism especially from red states like Texas and Oklahoma.
She estimated the annual revenue for state and local governments could hit $120 million in five years, well beyond what legislative analysts estimated earlier this year. The actual market, of course, would depend on the tax structure and a variety of regulatory decisions, O’Donnell said. O’Donnell said that if legalization is approved, New Mexico policymakers should consider how to tap into the Texas market without violating interstate commerce laws and while maintaining health and safety protections. Health Secretary Kathy Kunkel noted that other states that legalized recreational marijuana have experienced drops in enrollment in their medical programs. New Mexico could also encourage medical consumers to stay in the program by exempting their purchases from the taxes levied on recreational consumers. [Albuquerque Journal]
Speaker of the New Mexico House Brian Egolf not only supports legalization for all adults he serves as legal counsel for the state's therapeutic cannabis leader, Ultra Health. Calling itself "New Mexico's No. 1 cannabis company" Big Dope Ultra just opened facilities in Clayton near the borders with Texas and Oklahoma. Keeping the industry from the clutches of a monopoly has been contentious. The concessions to insure the longevity of therapeutic cannabis are seen as a nod to Ultra. Enrollment in the state's therapeutic cannabis program has gone over 76,000 patients.
Gov. Michelle Lujan Grisham’s office has filed a motion in First Judicial District Court to intervene in a lawsuit by out-of-state residents who say they should be allowed to participate in the state’s Medical Cannabis Program. [Santa Fe New Mexican]
Colorado shafted her medical growers to expand the industry there but her black market is still thriving. Black market cannabis not tested by the state makes America and New Mexico less safe.
“So I think the race is on,” said Jeremy Kapteyn, a patent attorney focusing on marijuana law. He’s happy about the shift. He says it’s one way if normalizing this emerging industry. But “there's going to be winners and losers,” he said. “It's not a merit-based system. It's whoever's first and has the most money.” In other words, capitalism in action. [KRCC: "There Will Be Winners And Losers" In the Marijuana Patent Race]
It's the view of this interested party that growers should be able to market their product like vineyards have tasting rooms and breweries have tap rooms but allowing state-owned stores will only give the government control over the various strains. The State of New Mexico should offer incentives to tribes, pueblos and others for organic cannabis grown with off-grid sources of electricity and rainwater harvest. Also, edibles should only be dispensed by pharmacists, all grows and product offered for public sale, including cannabidiol or CBD, should be inspected by the state.

5 comments:

larry kurtz said...

"State District Judge Bryan Biedscheid of Santa Fe on Thursday made permanent a previous order that will allow qualifying out-of-state residents to participate in New Mexico’s Medical Cannabis Program." Santa Fe New Mexican

larry kurtz said...

New Mexico has begun issuing therapeutic cannabis cards to non-residents: Santa Fe Reporter

larry kurtz said...

"Among industry growing pains is finding an end market. An abnormally hot summer across much of the state caused plants to bloom early, and New Mexico’s signature wind proved bothersome. More recently, autumn rain in southern New Mexico made harvests another learning experience." Hope and headaches for hemp in NM

larry kurtz said...

New Mexico's therapeutic cannabis program is nearing 80,000 patients: KRWG.

larry kurtz said...

"The New Mexico Economic Development Department has pledged to invest $400,000 in a hemp production and processing business in Las Cruces that will help farmers grow the plant and then manufacture from its ingredients." KRWG Public Media