Brandon Thornton, CEO of the marijuana testing lab Steep Hill Arkansas and a board member of the Arkansas Cannabis Industry Association, was asked what crucial facts the trade group would like Arkansans to know, and his main message was, yes, cannabis is coming.
See: Arkansas Marijuana Finally Set To Roll
“The global cannabis market is estimated to be close to $150 billion by 2025, and as a state that excels in agriculture, Arkansas should be in a great position to take advantage of this growing industry.” He expects Arkansas’ medicinal cannabis market to eventually exceed $100 million a year.
Thornton, a pharmacist by training who hopes to prosper as Arkansas marijuana cultivation sites and dispensaries pay to have the purity and potency of their crops tested, offered five key “facts about where the medical marijuana industry stands in Arkansas”:
1. Cultivators are on track to have medical cannabis available for patients in just a few short months. (Gov. Asa Hutchinson and other officials foresee some cannabis availability by April.)
2. Cultivation facilities and dispensaries have a local flavor. Residency requirements mean that Arkansans will own a majority of each cannabis business.
3. The economic impact will extend far wider than the 37 dispensaries and cultivators. Many new business startups in banking, security and compliance are opening their doors and hiring staff.
4. Health care professionals are adding cannabis to their treatment plans. From Dr. Sanjay Gupta to local physicians, cannabis is gaining acceptance among health care professionals. The FDA recently approved Epidiolex, the first cannabis-based medication.
5. Perceptions and attitudes are rapidly evolving across the nation. “There are now 33 states and Washington, D.C., with medical cannabis programs, 10 of which have expanded into adult-use programs,” Thornton said.
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