While it would have likely altered the tone of the New York City show, legalization of adult-use recreational cannabis was already off the table weeks before the 2019 CWCBExpo arrived in the Big Apple. Politics are a fickle thing and proponents for legalization are still continuing their fight in both New York state and New Jersey.
Coincidentally, the general assembly in Illinois voted on May 31 – the first day of the 2019 CWCBExpo in New York – to legalize adult-use recreational use. It becomes the 11th state in the nation to OK adult-use recreational use and according to some estimates, could bring in more than $1.6 billion in annual revenue. This latter point is one of the driving forces behind CWCBExpo and goes to show what can be gained by those who invest their time, energy and resources into cannabis industry infrastructure.
“We are taking a major step forward to legalize adult use [of] cannabis and to celebrate the fact that Illinois is going to have the most equity-centric law in the nation,” Gov. J.B. Pritzker said, according to Governing.com. “For the many individuals and families whose lives have been changed — indeed hurt — because the nation’s war on drugs discriminated against people of color, this day belongs to you.”
What’s more, the article goes on to say that Illinois state government plans to help minorities who are looking to launch cannabis-related businesses. This will be accomplished, in part, by decreasing licensing fees and providing low-interest loans. Elsewhere in the U.S., the article adds that Denver, Colorado and Los Angeles, California have established “social equity” programs within the cannabis industry that strive toward the same goals. This business-oriented focus on equality is essentially the opening of yet another door within the cannabis industry – one that’s likely to spur even more individuals into launching new ventures. To that end, CWCBExpo makes it easy for people from all different backgrounds and all walks of life to walk into the convention and find a company or fellow professional to converse with.
CNBC, which was represented during the recent New York City CWCBExpo by reporter Aditi Roy, adds in a June 2019 article that New York state and New Jersey could eventually benefit from Illinois’ measures. One of the crucial considerations is the fact that Illinois did not put the question to voters on an election ballot; rather, the state legislature took up the effort. Elected officials in New Jersey, which has similarly stalled on adult-use recreational use much the same as New York has, could theoretically take the same path.
No matter what unfolds in New York and New Jersey, CWCBExpo will continue to offer educational workshops, keynote speeches from industry titans and a packed showroom floor with businesses from all corners of the cannabis sector.
To learn more about our Los Angeles and Boston events, visit these links to register: https://www.cwcbexpo.com/attend-registration-los-angeles/ and https://www.cwcbexpo.com/attend-registration-boston/.Go back