The CannaBusiness Advisory is pleased to spotlight some of the Burns & Levinson clients that are pushing the cannabis industry forward, in Massachusetts and beyond. First up is TaShonda Vincent-Lee, co-founder and director of community outreach at ELEVATE New England, a networking firm “created to support the New England cannabis industry’s need for workforce and community education.”
What made you decide to start ELEVATE New England?
My co-founders and I couldn’t ignore the undeniable need for cannabis education in New England, both for the diverse people wanting to work in and own businesses in the newly legalized marijuana industry and, perhaps more importantly, for the communities in which cannabis businesses sought to operate. Despite passage of Question 4 by a significant margin in 2016, municipalities across the state are discussing and implementing bans and moratoria, and this is because of ignorance and fear about the plant. We created ELEVATE to connect the cannabis workforce with training and opportunity, and to provide proactive outreach to a variety of communities and demographics, so that more jobs can be created by thriving businesses. To that end, we provide professional networking opportunities, coordinate community education efforts, and generally promote a more diverse … Keep reading
The following quotes have been excerpted from an article, written by Omar Sacirbey, that originally appeared on the website of Marijuana Business Daily on March 22, 2018.
“If you’re able to get open [in Massachusetts], you’re going to see a more protected environment,” said Scott Moskol. “We’re not going to see the downward pricing pressures as quickly,” he added.
Moskol [further] noted, there will be “plenty of room for brands in Massachusetts to establish themselves and gain a following.”
Read the full article here.
Scott Moskol will present twice at this weekend’s 4th Annual New England Cannabis Conference (NECANN). Tickets are available at this link.… Keep reading
Massachusetts’ Cannabis Control Commission landed firmly in the middle of the road when it voted on February 26, 2018, to postpone granting licenses to marijuana home-delivery services and “social consumption” operations. In justifying the delay, the CCC claimed that it needs additional time to craft rules that address public health and safety concerns, such as impaired driving and underage sales. Despite the postponement, it’s important to note that these limitations in no way impact retail marijuana dispensaries and their suppliers, which remain scheduled to open for business in July 2018.
While the decision is a setback for those in favor of an immediate roll-out, the CCC did agree to initially grant delivery and social consumption licenses to individuals affected by the War on Drugs, meaning that they will not be boxed out of the market when those licenses become available in 2019. This policy is meant to preserve a place in the market for lower-cost marijuana businesses, like delivery services.
While Governor Baker applauded the CCC’s action as part of establishing a “safe and responsible retail” market, others may view it as an opportunity that will appeal to entrepreneurs lacking investment capital, as the types of businesses affected will … Keep reading
As we’ve blogged before, we don’t believe that Attorney General Sessions’ revocation of the Cole Memorandum will have much impact on the regulated, licensed marijuana industry. As of this post, we’ve neither heard nor read of any U.S. Attorney seeking to prosecute a licensed, compliant marijuana operation. Beyond statements by key political players, certain data points can give the industry comfort. Below are some that we believe illustrate that the attorney general’s actions and statements will not meaningfully reverse the progress that the industry has realized over the past few years.
- Per an October 2017 Gallup poll, 64% of Americans support marijuana legalization, including 51% of polled Republicans. Per a July 2017 Quinnipiac University poll, 75% of Americans, including 59% of Republicans, oppose the enforcement of federal marijuana laws in states that have legalized cannabis.
- The legal cannabis industry (not including cannabis-adjacent businesses) employs an estimated 165,000 to 230,000 workers. This is two to three times more workers employed by the coal-mining industry.
- Although estimates of actual revenues from legal cannabis enterprises vary, The Arcview Group states that, in 2016, the industry generated at least $6.7 billion—that figure is projected to increase to $21 billion by 2021.
- The cannabis
… Keep reading
This past year has been a memorable one for so many different reasons. For Burns, it saw the growth and expansion of our Cannabis Business Advisory Group, the launch and development of this blog, and the successful execution of our first-ever cannabis conference.
In winding down 2017, Scott Moskol and Mike Andreasen weigh in with their “wishes” for all things cannabis related in the coming year.
I’d like to see…
- The end of the new development of private lawsuits being brought by neighbors of cannabis cultivation and/or dispensary facilities against such entities under the auspices of the RICO (Racketeer Influenced and Corrupt Organizations) Act. These complaints generally seek damages, in addition to injunctive relief, that, if granted, would curtail the power of the states to issue valid licenses. Accordingly, to those defendants that are still parties to such lawsuits, we wish for speedy dismissals.
- Congress amend the Tax Code, such that 280E would no longer apply to a valid, state-licensed, compliant cannabis business. This way, marijuana businesses would not be subject to such an extra, and oftentimes onerous, taxation burden.
- Whatever new spending bill that is ultimately passed contain a version of the Rohrabacher-Blumenauer Amendment (formerly, the
… Keep reading
Recently, I traveled to Las Vegas with colleague and fellow Cannabis Advisory Group co-chair, Frank Segall, to attend the Marijuana Business Conference & Expo, also known as “MJBizCon,” which bills itself as “the largest cannabis conference in the world.” Launched in 2012 by the editors of Marijuana Business Daily, MJBizCon hosts bi-annual events in the fall and spring, bringing together thousand professional cannabis operators and investors every year.
This was my fourth MJBizCon (one spring, three fall), and it was, by far, the largest. The official attendance was announced at 18,120, and the number of exhibitors was over 650. Anticipating this volume, the conference was held at the Las Vegas Convention Center, having overgrown its previous host venue, the Rio Las Vegas, and it will undoubtedly continue to scale in terms of scope and intensity.
This year, for the first time, adult-use cannabis is legal in Nevada. And while usage of any cannabis products was forbidden inside the Convention Center, it was evident that the majority of the attendees enjoyed the recent change in the law. For me, one of the clearest differences between this conference and ones from years past was the types of exhibitors … Keep reading
Throughout history, marijuana has brought many benefits to vastly different populations. Realizing that those benefits outweigh any potential risks, Massachusetts, as a forward-thinking state, has allowed this product (and it is a “product”) to enter the marketplace on a legal basis, though regulatory details continue to be worked out. Below are some salient facts and dates to remember as cannabis comes fully online in the Commonwealth.
When did the law take effect?
The law took effect on December 15, 2016.
What aspects of the law took effect on December 15th?
Although licenses for cultivation, manufacture, testing, and retail sales will not be issued until July 2018, certain personal use provisions allowed for persons 21 years or older went into effect on December 15, 2016. Those include the possession of up to one ounce of marijuana, of which five grams may be marijuana concentrate, as well as the home-growth provisions that allow for the possession of up to 10 ounces of marijuana in one’s primary residence and six plants per resident, but no more than 12 plants per household. For more specific information, please refer to Massachusetts General Laws, Chapter 94G.
Where can I grow my plants?
Plants can … Keep reading
Many cannabis industry experts believe that the cannabinoid-based pharmaceutical sub-industry has the most potential to be the largest growth target for the cannabis industry as a whole, and if regulatory barriers to the cannabis industry are eased or lifted, the industry experts are probably right. The positive results of cannabis-based drugs on various diseases, illnesses, and symptoms, are overwhelming, and companies such as Digipath, Inc. and GW Pharmaceuticals, plc, are at the forefront trying to bring these this cannabis-based drug treatment to the mainstream.
The pharmaceutical industry is estimated to average about $500 billion in sales per year. The industry is heavily regulated by the Food and Drug Administration (FDA) almost every step of the way from testing, patenting, efficacy, and marketing of the drugs. Meanwhile the cannabis industry, at its current state, is the Wild West. There is almost no standardization of cannabis products across the country for a product that has an estimated 700 different types of strands. This means that trying to buy a specific cannabis product to help with muscle pain in one part of town that you bought in another part of town, is impossible. Whereas, buying Epilim, a drug for epilepsy, is the … Keep reading
At our cannabis conference on October 17th, representatives from across the industry gathered to discuss how the landscape of legalized marijuana has changed in recent years, particularly in New England. A panel, consisting of James Alex (Premier Healthcare Group), Jason Sidman (Sanctuary Medicinals), Patricia Rosi (Wellness Connection of Maine), and G. William Eldridge (GW Consulting), talked about specific industry trends they have seen and where they expect the industry to go moving forward. Below are a few highlights from that discussion:
Why should people be interested in getting into the industry?
Everybody has their own story on what drew them to the industry, whether it was a firsthand experience regarding the medicinal effects of cannabis, or the possible societal benefits of its legalization. However, one view that is consistent among all of those involved—including cultivators, retailers, investors, and advocates—is the great potential that exists. Legalized marijuana is already a multi-billion dollar industry, and only looks to be growing with the recent legalization of recreational marijuana in many of the northeastern states.
How do you attract an experienced workforce, especially in a budding industry like legalized marijuana?
The answer may be simpler than you expect. Many of the skills that … Keep reading
Last week, our inaugural cannabis conference took place at the Hilton Boston-Dedham hotel, and we are pleased to report that, by virtually every measure, the day was a tremendous success. This being the first conference ever put on by our group, we knew from the beginning that we were venturing into uncharted waters. But with the help of co-host Viridian Capital Advisors and our exhibitors, sponsors, and panelists, the entire affair ran smoothly and proved memorable, insightful, and enjoyable for all involved. In total, 152 investors, operators, and entrepreneurs were in attendance, and the feedback we’ve received has all been highly positive.
Over the coming weeks, we intend to recap each of the day’s panels, with insight provided by a member of Burns & Levinson’s Cannabis Business Advisory Group.
In the interim, though, we wish to extend our sincerest thanks to everyone who took part in bringing this watershed moment for our firm to fruition. We look forward to furthering the dialogue surrounding cannabis, both regionally and nationally, and are excited about all of the possibilities that next year’s conference holds.
… Keep reading