Posted by Staff Writer on 7/9/2017 to
Marijuana Startups
IncSmart Nevada (Small Business and Startups) - Just days after legalization, Nevada pot shops are running out. Within days of recreational use of marijuana being legal, Nevada has an emergency. It's low on bud. The shortage is so dire, that Governor Brian Sandoval has endorsed the state tax department to fast track the approval of more recreational marijuana distributors. The money flowing into the tax coffers is overwhelming. 47 authorized retail stores in Nevada saw over 40,000 purchases last weekend.
Tourists and locals are lining up in front of Nevada dispensaries to purchase marijuana since its legalization went into effect July 1, 2017. Sales are already have already reached $3 million and are on pace to make nearly $30 million by the end of the year. Unless the issue with distributor licensing is resolved quickly, the inability to deliver product to retail stores may force many of these people losing their jobs and will bring this market to a grinding halt. The loss of tax revenue will lead to a deficit in the state's school budget. Existing distributors have been struggling to keep up with demand. Primary issues were incomplete applications and zoning issues.
By IncSmart Staff Writer
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