The Platte County Economic Development Council participated in a webinar hosted by our national association – IEDC. The speakers included an attorney from Husch/Blackwell-Denver, City of Sacramento and the City of Calgary. At our E.D. Pros lunch last week, we had great discussion about the Cannabis Economy and we talked about the IEDC presentations. Most of your Platte County economic development professionals have had some type of discussion or lead about the cannabis business i.e. site location, existing space, local regulations. Here are the key takeaways from both the webinar and our E.D. Pros’ discussion.
Missouri communities should at the very least be discussing zoning, codes, permitting and regulations for this industry. Communities should strive toward proactive not reactive addressing of the business.
- Kansas City, Riverside, Parkville and Platte City are already looking at additions/changes to codes.
- Kansas City, Riverside, Parkville and Platte City have all had prospects ask about potential sites.
- Communities should put one person in charge of the industry to coordinate with all City departments.
- Cannabis business fits into three categories – growing, producing and selling.
- Production of cannabis has an odor so a proper ventilation system should be required.
- Cannabis will bring revenue to the State and the locale in which it does business. The revenue potential is large.
- Positive items from legalization – improved quality and safety controls, dismantling of the black market, sets other enforcement priorities and protection of public health and safety.
- Negative items – cost of compliance and licensing.
The State of Missouri is working through its own processes, i.e. applications, requirements, etc. It has already received over $3.4 million in application fees.
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