Cuomo lays out a plan for marijuana legalization, says the industry will generate $300 million in tax revenue annually – Fox Business

marijuana

A recent article, “Cuomo lays out a plan for marijuana legalization, says the industry will generate $300 million in tax revenue annually” was published in Fox Business in which Paul Best emphasized the need to legalize marijuana in New York. Paul Best quoted Dennis O’Neill’s statement from one of his interviews to Fox Business, i.e. “This is part of a bigger picture that all states will sooner or later legalize cannabis and ultimately the federal government will do so as well,”.

Legalizing the recreational use of marijuana have a strong potential to boost the economy. New York Gov. Andrew Cuomo plans to legalize marijuana for adult recreational use that can eventually create 60,000 new jobs, $3.5 billion in economic activity, and $300 million in tax revenue. Cuomo’s plan helped the marijuana stock boom with new hopes.

Besides legalization, the marijuana industry will face stringent guidelines. The Office of Cannabis Management expects to “limit the sale of cannabis products to adults 21 and over and establish stringent quality and safety controls including strict regulation of the packaging, labelling, advertising, and testing of all cannabis products.”

New York has been learning from other states’ experiences and mistakes for the past several years. While the other states such as New Jersey, Vermont, and Massachusetts have legalized marijuana industry, New York has been striving for] years to legalize marijuana and hopes to bore the fruit as the Department of Health came out in favour of legalization in 2018. Now, it’s time for New York to invest and have a vibrant, long-lasting cultivation and processing cannabis industry.

Dennis O’Neill from Biomedican hopes that sooner or later all the states will legalize marijuana and eventually the Federal Government. Biomedican developed a unique biosynthesis method to yield rare cannabinoids from proprietary yeast. This Biosynthetic method’s resulting product is not only organic and non-GMO but also cheapest and readily available.

To learn more about this advanced biosynthetic method of cannabis production and its cheapness, visit our website.

 

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