Things have been moving quite fast since 2016, when Massachusetts voters chose to legalize recreational marijuana. From developments such as new grow operations, a vast number of new recreational dispensaries, and a budding cannabis culture — it seems as though “The Bay State” is showing no signs of slowing down when it comes to progress in the cannabis/hemp field. Whether you’re a Mass resident, or simply curious about the state’s cannabis scene, it’s important to stay informed in regards to the latest happenings in “canna-culture”.
In our previous blog, we discussed the main points of legal cannabis in Massachusetts. Keep reading as we highlight some of the most exciting cannabis/hemp news coming out of The Bay State.
Curaleaf Holdings: Now The Biggest Cannabis Company in the World
In the middle of our pandemic summer, not all businesses were suffering from the drastic changes that have come out of the fallout of COVID-19. In fact, one sector (universally deemed as an essential business) that is still growing and blooming is the world of legal cannabis. Recently, Massachusetts-based Curaleaf Holdings became the biggest international cannabis company when it acquired the Chicago cultivator and retailer Grassroots for $830 million. And, while there are industry concerns that Curaleaf has been too aggressive, the company is betting on imminent federal legalization to justify their rapid expansion.
Massachusetts Brings in More Than $150 Million in Cannabis Tax Revenue
If there are still any government opponents of cannabis legalization in Massachusetts, it’s safe to say that their concerns have been pacified by the sheer numbers cannabis sales have brought in since legalization. Since November of 2018, the Bay State has seen record numbers in sales, especially during the pandemic. The high tax rate imposed on cannabis products by legislators is largely responsible for such a large tax revenue figure, however it’s doubtful that anyone (consumer or government official alike) is complaining.
USDA Approval of Massachusetts Hemp Plan
Massachusetts recently became the latest of 17 states to have its hemp regulatory plan approved by the U.S. Department of Agriculture. Since the 2018 Farm Bill federally legalized the hemp crop and its derivatives, the USDA has periodically been assessing and signing off on individual states’ hemp plans. States being on the same page as federal regulators is surely a step in the right direction to achieve the ultimate goal of federally legalizing cannabis, and so it’s certainly a positive that more and more states are following suit.
Lazy River Products: Our Quest to Allow Curbside Delivery of MMJ
And finally, in LRP news, we have recently asked the Dracut Board of Selectmen to amend our company’s special permit, in order to: relocate our retail facilities operations, offer curbside pick-up, modify permitted hours of operation, amend parking, traffic, security plans and amend our license to operate. In such uncertain times, we’re working with the state and local legislators to ensure that we’re offering our customers the best possible products, and the most convenient service.
We hope you’re staying safe and healthy! Be sure to keep following our Lazy River Products Blog page for more on the latest in Massachusetts cannabis culture, our stellar collection of products, and the cannabis world at large.