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Legalized Pot in Washington

On July 8, 2014, history was
made. For the first time in Washington State, legal recreational cannabis stores
all over the state opened their doors to eager customers. Sales were high, and
the pres

Published

on

On July 8, 2014, history was
made. For the first time in Washington State, legal recreational cannabis stores
all over the state opened their doors to eager customers. Sales were high, and
the press documented it all. But what does this really mean for Washington?

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There are so many questions regarding taxes,
revenue and how I-502 will affect the cannabis market. With the Washington
State Liquor Control Board (WSLCB), and other non-cannabis related government
agencies taking the reigns, many worry that the system will fail. Washington
State has come under fire for being overly bureaucratic and under informed when
it comes to rolling out I-502.

One of the most criticized
missteps by the WSLCB was hiring a Connecticut-based consultant named Back of
the Envelope Calculation (BOTEC). In 2013, BOTEC projected Washington would
need 2 million square feet of cannabis canopy to adequately supply legal I-502
stores for the first year. This was only ever estimated to supply 25 percent of
the market. The medical and black market would be left to satisfy remaining
customers.

The current stores only have
enough to supply 10 percent of the market. There are only two stores in all of
King County, which is by far Washington’s largest cannabis market. Especially
for an average price of $25 per gram. There’s isn’t a large market for those
high of prices in less densely populated areas.

Cannabis City, which is the only store in all
of Seattle, ran out and closed its doors after two days due to lack of product. Customers from Seattle have been driving nearly two hours
North to Bellingham, which has two stores within its city limits. Both stores, Top
Shelf Cannabis and 2020 Solutions, still have product, and say they  have more coming in. More stores in Bellingham
are set to open soon, such as Cascade Herb Company, the number one I-502-lottery
winner in Bellingham’s Whatcom County.

Aside from lack of supply, and
the reasoning behind it, there are more concerns with I-502. Like what’s going
to happen with all of the money the state’s going to make off of a 25 percent
recreational cannabis tax? CULTURE
spoke with Brian Smith, the media representative for the WSLCB about I-502
legislation. Smith gave a statement regarding WSLCB’s main objectives regarding
I-502 legislation.

“I-502 tasks us with writing all
the rules and doing all the things that were required of us. And I think the
WSLCB views that as a challenge, and the will of the voters with the support of
the governor and state’s attorney general, to create the market, that the first
steps rolled out for [on July 8]. And the board spent a good part of that first
year listening to people in the community, people in the medical marijuana
community, people that were growing for the black market, interested citizens,
and interested applicants at forums across the state. We held eight public
forums where we wanted to gather public input from people that have been
involved in this industry for a long time. About what they thought should be in
the rules. And the board considered a lot of that as it developed its rules,”
Smith stated.

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