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Monday, January 30, 2023

Companies Prepare to Sell Legal Recreational Cannabis

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Connecticut is just a few weeks away from selling legal recreational cannabis.

“The purpose of our organization is to help all people who are new to this space, all new businesses,” said Adam Wood, president of the Connecticut Chamber of Commerce of Cannabis.

On Wednesday, the Connecticut Chamber of Commerce of Cannabis hosted its first-ever “We Grow Together” event. President Adam Wood said the goal is to help people in the industry connect with the resources they need, including meeting with state leaders, financial institutions, farmers and construction companies.

“We want to be the voice of this industry in Hartford at the state capitol, but also in Washington, D.C. we’re moving forward to make sure the industry continues to grow,” Wood said.

More than 20 newly licensed adult cannabis business owners in Connecticut attended, including The Botanist, a Connecticut medical dispensary that will now enter the entertainment industry.

“Part of it is that it will allow us to capture the illicit market, and see what happens when people get marijuana or cannabis that are confronted with fentanyl, and individuals who use marijuana for recreational purposes should have safer options,” The Botanist EVP Government Relations said Brian Murray. .

Cannabis for adult use is expected to generate between $50 million and $120 million in tax revenue during the first year.

“This number will grow as the industry grows and sales grow,” Wood said.

Farmers with Social Justice licenses are required to work in areas that have been disproportionately affected by the War on Drugs.

In 2023, the industry is expected to create more than 5,000 workers across the state.

Marginalized communities are the most affected. Deborah Cavenes, President of the Black Chamber of Commerce, said:

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