California Struggles while the US Cannabis Industry Prospers
California might be struggling with a black market problem but cannabis companies like GreenStar Biosciences Corp.’s (CSE: GSTR) are finding opportunities elsewhere in the US.
Since Donald Trump’s administration passed the Farm Bill at the end of 2018, the cannabis sector in the United States has continued to boom. The bill allows the cultivation of hemp plants for medicinal purposes across all states, whether or not some of them have already made them own legislation in that respect.
Several states have gone even further and made recreational cannabis legal. The first were Colorado and Washington State, and the states are already seeing great profits from the sector. In June this year, Colorado state reported a revenue of $1 billion since sales of recreational cannabis has become legal in 2014.
As the States bolster their tax returns private enterprise is also riding the green wave. Companies like GreenStar Biosciences Corp. (CSE: GSTR) have seen great success by focusing on innovative regional competitors. The company controls Cowlitz County Cannabis Cultivation Inc. in Washington State and things are going well. Cowlitz has generated a steady quarterly revenue of over $4 million and growing.
GreensStar’s strategy focuses on identifying promising regional competitors and providing them with the capital they need to grow rapidly. GreenStar has a management team with a wealth of experience in the Canadian cannabis market and uses this expertise to guide young companies towards success.
Despite the success of Washington State and Greenstar not everywhere is benefiting equally. Thanks to the multitude of medical cannabis users, California is the largest legal cannabis market in the world. But since the sale of marijuana was legalized for adults, the market has declined.
This may seem paradoxical because allowing the legal sale of the product is supposed to increase the size of the market. However, in California, the cannabis industry attributes this phenomenon to several obstacles it faces. On the one hand, producers and sellers are subject to heavy charges that make legal cannabis particularly expensive. Secondly, the regulations are extremely strict.
California was the first state in the United States to authorize the sale of cannabis for medical purposes twenty-three years ago. Since last January, the sale of marijuana for recreational purposes has also been authorized.
Thanks to the large number of medical users, California is the largest legal cannabis market in the world, explains The Economist magazine. However, since the legalization the market has shrunk. In theory legal cannabis was supposed to increase the size of the market because it pushes illegal sellers into bankruptcy.
“This is what has happened in other states that have decided to legalize cannabis,” the magazine says. But according to bds Analytics and Arcview Market Research, legal sales in California amounted to $2.5 billion in 2018, compared to $3 billion in 2017.
Josh Drayton, spokesman for the California Cannabis Industry Association, says that the State of California has gone from being the least regulated place in the world for cannabis to one of the most regulated. Following legalization, the state now has regulations that go far beyond those for other products.
Several companies operating in the medical market consider that the new rules are complicated and that the costs of obtaining permits and licences are too high. In addition to regulation, the sector is subject to several taxes. There is a 15% excise tax on retail sales and a sales tax that starts at 7.25% depending on the county and city administrations. Taxes on culture are also multiple and inventive, says The Economist.
Baby boomers and cannabis
In addition to this, federal taxes still have to be paid, even if the product remains illegal under federal law. The federal government refuses to allow companies to deduct their operating costs from their tax returns. Cannabis companies are therefore taxed on their gross profits. As a result, legal cannabis is expensive. A seller can buy 30 grams of cannabis from illegal sellers for $150, compared to $400 for the same product purchased legally.
Another obstacle is that most cities in the State initially decided not to allow the sale of cannabis for recreational purposes on their territory. Some cities, such as Los Angeles, have allowed stores but have been slow to issue licenses.
While the Californian cannabis industry is trying to overcome all these obstacles, the product seems to be increasingly accepted at the national level. Lisa Hurwitz, production manager at Grassroots Cannabis Grower, says that purchases are increasing fastest among baby boomers and older generations. “These generations are rediscovering cannabis or using it for a variety of ailments they face in later life. The plant is useful for everything from pain to sleep and anxiety”.
Shielding Lives and Assets – Fire Watch Protections in America
Fire safety is a matter of utmost importance in the United States. Fire watch protection is an invaluable service that can prevent and mitigate fires from escalating, saving lives and assets. Fire watch protection involves a guard actively patrolling a property to detect and prevent potential fire hazards before they become an issue. This article will provide an overview of fire watch protections in America, focusing on the services available, the role of firefighters, and the benefits of fire watch services.
Fire Watch Protections
Fire watch protections are crucial for safeguarding lives and assets in America. The National Fire Protection Association (NFPA) mandates that every commercial building should have a functional fire alarm system, an automatic sprinkler system, and fire extinguishers. However, there are times when these safety measures fail or get damaged due to construction work or maintenance activities. In such cases, temporary fire watch protections become necessary.
Temporary fire watch protections require trained personnel to monitor the building’s premises 24/7 until the primary safety systems are fully operational again. This is particularly important for high-rise buildings where the evacuation process takes time and may pose a challenge during emergencies. Moreover, the presence of trained personnel on-site ensures that any potential hazards can be identified early on and dealt with before they escalate.
In conclusion, implementing proper fire watch protections is essential in ensuring the safety of people and property in America. It not only complies with NFPA standards but also provides peace of mind to building owners, managers, employees, and visitors alike knowing that there are efficient emergency response plans in place if an unfortunate situation arises.
The Need for Fire Watch Services
Fire watch services are becoming increasingly important to protect lives and assets in America. When businesses or buildings are undergoing construction or repairs, the fire sprinkler systems may be temporarily out of order, leaving the building vulnerable to fire damage. Fire watch services provide a temporary solution by employing trained personnel who remain on site to detect and prevent fires.
In addition to construction sites, fire watch services are also necessary for buildings that have experienced power outages or other malfunctions that could disable their fire safety systems. Fires can occur at any time and without warning, so it is vital to have someone on hand who can quickly respond and alert authorities if necessary.
Overall, investing in fire watch services is a small price to pay compared to the potential cost of property damage or loss of life caused by a preventable fire. With proper planning and implementation of these preventative measures, businesses and individuals can rest easy knowing they are doing everything possible to keep themselves and others safe from harm.
Safety Regulations & Standards
Fire watch is a critical fire protection service that ensures the safety of lives and assets in America. One of the primary reasons why fire watch services are essential is because they help detect fire hazards before they cause significant damage. During a fire watch, trained personnel patrol designated areas to identify potential risks and address them promptly. This process involves inspecting electrical equipment, flammable materials, and other potential sources of ignition.
To ensure adequate protection for lives and property during a fire watch operation, it’s essential to adhere to specific safety regulations and standards. These regulations provide guidelines on how to conduct fire watches effectively while minimizing risks associated with firefighting activities. For instance, OSHA (Occupational Safety and Health Administration) has established standard 1910.157 that outlines requirements for portable firefighting equipment accessibility in workplaces.
In conclusion, adhering to safety regulations and standards during a fire watch operation can significantly enhance the efficiency of firefighting efforts while reducing the risk of injury or loss of life. It’s crucial to work with certified professionals who understand these guidelines so that you can be confident in their ability to protect your assets effectively.
Potential Challenges & Solutions
One of the major challenges faced by fire watch protection companies in America is the high demand for their services during peak seasons. During these periods, there is often a shortage of skilled professionals to carry out necessary tasks like monitoring alarm systems, patrolling buildings, and maintaining firefighting equipment. This often results in delays and gaps in coverage which can be detrimental to businesses and property owners. To mitigate this challenge, fire watch protection companies can invest in training programs for their staff or partner with recruitment firms to ensure they have access to a pool of qualified personnel.
Another potential challenge for fire watch protection firms is the issue of compliance with regulations set by local and federal authorities. These regulations often require that certain standards are met regarding equipment maintenance, emergency response plans, and employee training. Failure to comply with these regulations could lead to fines or legal repercussions that could harm the reputation and financial stability of the company. To overcome this challenge, fire watch protection firms need to stay up-to-date on changes in regulations through continuous education and collaboration with industry associations such as The National Fire Protection Association (NFPA). Additionally, they should invest resources into ensuring that their policies and procedures align with regulatory requirements.
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