Not all new marijuana markets are created equal when it comes to business opportunities for cannabis cultivators. The Nov. 3 election opened the door for marijuana growers in five states that could generate more than $2.5 billion in medical and recreational cannabis sales a year by 2024. But some of those new markets are more appealing than others. Chalk it up to the location, size, and overall friendliness of business regulations. New Jersey and Arizona are the clear favorites with their impending recreational cannabis markets building off existing medical marijuana programs and large state populations. Mississippi – which joined South Dakota in approving medical marijuana – could be the dark horse, depending on how cities and counties respond to the new program. In contrast, the other four states are expected to rely heavily on indoor and greenhouse operations. Their climates don’t easily lend themselves to outdoor growing because of extreme temperature swings.
Marijuana Business Daily, 11/20/2020 06:30:49