Cannabis Conundrum: Obstacles and Opportunities in California’s Next Gold Rush
California’s cannabis market is expected to exceed $5 billion in value the year after legalizing recreational use on January 1, 2018. 81,000 to 103,000 jobs are estimated to be created with an annual labor income of $4 billion. The market presents opportunities and risks for public agencies and private businesses involved in its rapid expansion, including a comprehensive range of regulatory, operational, business, political and practical challenges.
Meyers Nave Principal Ruthann G. Ziegler leads Meyers Nave’s statewide Cannabis Practice and is ranked among the “Top Lawyers” by Sacramento Magazine in the field of State, Local & Municipal Law. Ruthann recently shared her advice and insights about the cannabis market in a Q&A interview titled “Cannabis Conundrum” published in the August 2018 issue of Northern California SuperLawyers magazine. Please click here to read the article. The Sacramento Business Journal also published two Q&A interviews with Ruthann covering the most pressing issues facing this new sector of California’s economy. The topics she covered are listed below. Please click here and here to read the two interviews.
• Patchwork of different regulatory environments in different jurisdictions
• Legal and practical challenges from the banking and finance perspectives
• Potential revenue for cities and counties in terms of application fees and taxes
• Indemnification and disclosure clauses in business licensing requirements
• Ethics and attorney-client privilege
• Environmental impacts on air quality and sewage
• High demand of water and power
• Land use and zoning matters
• Issues relating to security, public perception and consumer education
• Regulating labeling, transportation and delivery
• Uncertainty of federal government action