[New post] Adult-Use Cannabis Legalization Could Give Arkansas’ Economy Major Boost, Study Shows

Cannabis News World posted: "Adult-Use Cannabis Legalization Could Give Arkansas' Economy Major Boost, Study Shows Cannabtimes <![CDATA[A new study has revealed that adult-use cannabis legalization could give Arkansas' economy a major boost as voters prepare to make thei" Cannabis News World Adult-Use Cannabis Legalization Could Give Arkansas' Economy Major Boost, Study Shows Cannabis News World Oct 31 Adult-Use Cannabis Legalization Could Give Arkansas' Economy Major Boost, Study Shows Cannabtimes <![CDATA[A new study has revealed that adult-use cannabis legalization could give Arkansas' economy a major boost as voters prepare to make their voices heard on a legalization measure that will appear on the state's November ballot.The study, prepared by the Arkansas Economic Development Institute for Responsible Growth Arkansas, the group behind the ballot measure, projects annual adult-use sales averaging as high as $681.7 million.Total cannabis sales in the state, including medical sales, could reach $984 million by 2027, according to the report, with state and local tax revenue increasing by $460 million within the same timeframe.RELATED: Arkansas Medical Cannabis Sales Top $23 Million in August"That includes both the indirect effects that are based on the business buying from suppliers, paying employees … and then the induced effects where the employees who are now earning income spend money in the rest of the markets," Michael Pakko, the chief economist for the Arkansas Economic Development Institute, said during a Sept. 28 news conference, according to a KUAR report. "So, it has a ripple effect throughout the economy."Responsible Growth Arkansas' proposed constitutional amendment will appear on the state's November ballot after the state Supreme Court ruled last week that the ballot measure's title is not misleading to voters.The group submitted 190,000-plus signatures July 8—more than double the required 89,151 valid signatures necessary to qualify its measure for the ballot. Secretary of State John Thurston's office certified the signatures for the ballot July 29, but the state Board of Election Commissioners rejected the measure Aug. 3, determining that it was misleading in its title.Responsible Growth Arkansas clapped back with a lawsuit that ultimately landed in the state Supreme Court.RELATED: Arkansas Adult-Use Ballot Rollercoaster Continues With Supreme Court OrderNow headed to the ballot after the Supreme Court's Sept. 22 ruling, the measure would legalize cannabis… Excerpt only ... READ MORE BELOW Source : Adult-Use Cannabis Legalization Could Give Arkansas' Economy Major Boost, Study Shows reposted by Cannabis News World Comment Unsubscribe to no longer receive posts from Cannabis News World. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cannabisnewsworld.com/2022/10/31/adult-use-cannabis-legalization-could-give-arkansas-economy-major-boost-study-shows/ Powered by WordPress.com