They are throwing $100 Million at the weed industry…..
The only people making money in the California weed business is the ones STILL doing it ILLEGALLY…..
The California Legislature on Monday approved a $100-million plan to bolster California’s legal marijuana industry, which continues to struggle to compete with the large illicit pot market nearly five years after voters approved sales for recreational use.
Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses.
“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market,” said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. “We have yet to reach that goal.”
Many cannabis growers, retailers and manufacturers have struggled to make the transition from a provisional, temporary license to a permanent one renewed on an annual basis — a process that requires a costly, complicated and time-consuming review of the negative environmental effects involved in a business and a plan for reducing those harms….
In 2019, industry officials estimated there were nearly three times as manyunlicensed businesses as ones with state permits. Although some industry leaders believe enforcement has reduced the number of illegal pot shops, a study in September by USC researchers estimated unlicensed retailers still outnumbered those that were licensed….