Nevada Marijuana Businesses Have Created More Than 6,700 Jobs

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Although the Silver State just started recreational marijuana sales this past summer, the number of workers Nevada marijuana businesses employ is creating quite the buzz.

According to Las Vegas Now, Las Vegas’ Mandalay Bay is currently holding the annual Council of State Governments convention for state lawmakers. On Dec. 14, 2017, lawmakers tackled the issue of “developing marijuana policies,” and it seems that Nevada is the state to look to.

Nevada marijuana businesses started in 2015 with the development of medical marijuana dispensaries, and recently began making recreational marijuana sales this summer. Within those two years, Nevada has become home to 273 marijuana businesses that employ more than 6,700 workers.

It is clear that marijuana has made a huge impact on the state as Nevada easily surpassed sales and tax revenue predictions.

According to Riana Durrett, Nevada Dispensary Association’s executive director, “There are a lot of taxes coming into the state, but we’re also seeing there are extremely high regulatory costs and operational costs.”

Durrett indicated that though marijuana businesses are bringing in a significant amount of revenue, they are also shelling out a lot out in operational costs.

“This isn’t a market where people are making money hand over fist like people from the outside think that they are.”

Nevada marijuana businesses spend roughly $1.8 million on security and another $1.3 million on utilities every month, neither of which constitute the biggest cost for businesses, as reported by Las Vegas Now.

While owners are dropping a pretty penny on bills, they are dropping even more on employees. Though the state’s current minimum wage is $8.25, the average marijuana business employee makes $19.28 an hour.

Along with offering higher wages, Nevada marijuana businesses embrace diversity, as minorities make up 47% of the workforce.

“Nevada is different from Maine in many, many ways, but the issues about legalization of marijuana, they’re really the same,” said Maine Sen. Roger Katz, an attendee of the Council of State Governments convention.

Katz is optimistic that conventions like the one at Mandalay Bay will create opportunities for states to develop productive and well-regulated marijuana industries and stay ahead of any federal regulations in the pipeline.

Amanda Taylor was the editorial assistant for Marijuana Industry News from September 2016 through February 2018. She earned a BA in English and an MA in Writing from Coastal Carolina University.

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