Economy

Arizona: Marijuana Initiative Backers Encourage Business Leaders To Consider Economic Benefits

ArizonaRegulateMarijuanaLikeAlcohol2016

Prior to an annual Chamber of Commerce event on Wednesday, backers of a 2016 ballot initiative to end marijuana prohibition in Arizona will encourage business leaders to consider the economic benefits of regulating and taxing marijuana in the state.

The Campaign to Regulate Marijuana Like Alcohol will hold a news conference at 10 a.m. MST on January 6, outside the Arizona Chamber of Commerce and Industry Legislative Luncheon in Phoenix (northeast corner of N. 3rd and E. Van Buren streets).

Campaign leaders will have a sign and distribute handouts that invalidate opponents’ claims that regulating marijuana for adult use will be bad for business in Arizona.

“Regulating marijuana like alcohol would bolster our state’s economy with new tax revenue, new jobs, and new business opportunities,” said campaign chairman J.P. Holyoak. “Business leaders typically recognize the value of a legal and regulated alcohol market for adults. Our initiative would establish a similar system but for an objectively less harmful product.

“Since Colorado made marijuana legal for adults, its economy has improved dramatically and at a far greater rate than most other states,” Holyoak said. “Opponents of that law claimed it would be bad for business, and that claim has proven to be entirely unfounded.”

The following facts will be included in the handout distributed to attendees:

Israel: Medical Cannabis Could Be Worth More Than Natural Gas

IsraelMedicalCannabisFarmNazareth[Reuters]

By Steve Elliott
Hemp News

Israel's natural gas reserves off its shores are considered a boon for the nation's economy. But the general consensus Thursday at a Thursday conference was that Israel is missing an even bigger opportunity -- in the field of medicinal cannabis.

The conference, on how Israel's farmers could benefit from the global market for medical marijuana, was hosted by the Israel Loss Adjusters Association (ILAA), reports Niv Elis at The Jerusalem Post. The cannabis market in the United States alone stands at $35 billion a year, according to Doron Havkin, chairman of the ILAA.

"Are we able to give up revenues from this market?" Havkin asked, arguing that the government could help Israel's struggling farmers in the Arava by declaring it a closed zone for growing export-oriented medical marijuana. Nearly 6,000 acres of land are waiting for such development, according to Havkin.

The economy would be the biggest beneficiary if Israel grew medical cannabis, according to Dr. Tamir Gadot, CEO of the pro-medical marijuana agricultural association Breath of Life. "The economic potential of growing Big Cannabis is greater than that of the gas," he said.

Dr. Gadot said that the government should recognize that medical marijuana is "a legitimate pharmaceutical industry,"

Oregon: Farmers Prevented From Hemp Cultivation By Marijuana Prohibition

YesOn91

Oregon farmers are forced to watch while consumers here buy millions of dollars in hempseed for food, clothing made of hemp and thousand of other products made from this cash crop, all grown in foreign countries.

Ryan Basile is an Oregonian, a farmer and an agricultural businessman. In this video, he alerts us all to unintended consequences of laws banning marijuana and how it's holding back an entire economy perfect for Oregon's climate.

Ryan knows that Measure 91 will compel the state Department of Agriculture to cut the remaining red tape and allow hemp growing and manufacturing in Oregon.

• Hemp plants are considered a dangerous narcotic simply because they're related to marijuana plants.
• Smoking hemp will NOT get you high.
• Hemp is a fibrous plant that can be turned into oil, wax, rope, resin, cloth, paper, pulp and food.
• Canadians make half a billion dollars a year on it, and about 90% of the hemp they grow is exported to the United States. Oregonians are seeing the consequences for our strange approach to hemp while Canadians are profiting off of us.
• Canadians have a 20-year lead on us in hemp research, and everyday it is illegal to grow hemp in Oregon we fall further behind.

"There is an entire hemp economy sitting on the sidelines waiting for voters to pass Measure 91," said Ryan Basile, a farmer and agricultural salesman from Oregon. "From fiber processing to clothing manufacturing, the hemp industry will create jobs and money for our economy."

United States: Pot Legalization Could Save U.S. $13.7 Billion Per Year, 300 Economists Say

By Huffington Post Staff

There is a truth that must be heard! Your plans to celebrate 4/20 this Friday could actually make the government some money, if only such activities were legal. That’s according to a bunch of economists, and some prominent ones too.

More than 300 economists, including three nobel laureates, have signed a petition calling attention to the findings of a paper by Harvard economist Jeffrey Miron, which suggests that if the government legalized marijuana it would save $7.7 billion annually by not having to enforce the current prohibition on the drug. The report added that legalization would save an additional $6 billion per year if the government taxed marijuana at rates similar to alcohol and tobacco.

That's as much as $13.7 billion per year, but it's still minimal when compared to the federal deficit, which hit $1.5 trillion last year, according to the Congressional Budget Office.

While the economists don't directly call for pot legalization, the petition asks advocates on both sides to engage in an "open and honest debate" about the benefits of pot prohibition.

"At a minimum, this debate will force advocates of current policy to show that prohibition has benefits sufficient to justify the cost to taxpayers, foregone tax revenues, and numerous ancillary consequences that result from marijuana prohibition," the petition states.

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