New Mexico’s newest industry has many around the state excited for its potential economic impact — from the funding it can provide for things like public education, to the tourism it can drive to the state and even the opportunity it can give to potential business owners.
So far, the state’s cannabis industry has seen millions in cash flow from revenue. The state itself has also made millions so far off cannabis excise taxes that show the industry may be a boon for the economy, said Reilly White, an associate professor with the Department of Finance and Innovation with the University of New Mexico’s Anderson School of Management.
White, through his own firm independent of UNM, has forecasted what the New Mexico cannabis industry looks like going forward.
“When we see the presence of a new industry, lots of new businesses come about,” White said, whose firm Erobor has worked with the City of Santa Fe on cannabis forecasting. But he added that it is likely over the coming months that industry leaders will arise — even outside of legacy operators within the state.
White said he expects the industry to see growth going forward, whether that’s in sales or tax revenue, or in opportunity for new business owners.[Read more at Albuquerque Journal]
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