Hampton – Peninsula Town Center in the state is carrying a construction activity of a new apartment building and a trampoline park. A team of Mark Turner Construction has begun work last week on Sky Zone entertainment facility that holds 23,000 square foot area. The trampoline park will share space in a 97,000 square foot structure with Floor & Decor store, that has already opened there last year. Opening of the trampoline park was announced in 2018 and the work is projected to complete before the Christmas holiday next year.
When the park would open, it will create about 120 new jobs for the local people such as fitness trainers and other staff. The trampoline park will feature several attractions, like three best water trampoline, climbing walls, a warrior style obstacle course, trampoline dodgeball, trampoline mat, and a zip line. The building will be a single-story complex which will include party rooms, kitchen, offices, and bathrooms. The park and building will completely transform the Peninsula Town Center.
Construction work is going with a rapid pace and the construction company, Mark Turner Construction, is expecting to open the area for the public in late winter or early spring 2020. The new apartment will have 169 units, and they will offer more family entertainment options by providing a lot of things to do. The whole property is a special tax district managed by the Peninsula Town Center Community Development Authority. The authority looks after the improvement of the streets, parking, infrastructure and public park in the area. It will generate revenue after using a special assessment of 0.5% on purchase patrons make.
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”.
- Papasan Chair is now Available in the Market in Renewed, Comfortable Style September 30, 2019
- The Prices of iRobot Roomba 680 Robot Vacuum have Dropped September 30, 2019
- You can now Solve and Prevent Keyword Rankings Drop September 30, 2019
- Neybronjames Bringing in Big Bucks Posting Exclusive Content September 30, 2019
- North East Driveways is Decorating Homes with Impressive Features of Paving September 30, 2019
- Explosive new Documentary Uncovers Controversial Subject of Toxic Air on Flights September 30, 2019
- More and More Customers are Thrilled by the Services of Reading Service and MOT Centre September 29, 2019
- As a Beginner Playing on New Online Poker Site Should Be Avoided September 29, 2019
- Nano Jewelry is Devoted to Islamic Necklaces with a Print of Ayat al-Kursi Verses September 29, 2019
- Things to Consider When Organizing an Event in a Remote Location September 29, 2019
Lifestyle2 months ago
Catholic Cases App brings Church’s Moral Teachings to Androids and iPhones
Tech9 months ago
Cloud Buyers & Investors to Profit in the Future
Entertainment2 months ago
Avengers Endgame now Available on 123Movies for Download & Streaming for Free
Entertainment2 months ago
123Movies Predicts Hobbs and Shaw will be the Most Downloaded Movie of 2019
World9 months ago
The New Feyenoord Stadium to have 63000 Seat Capacity
Entertainment4 months ago
Jonas Brothers’ ‘Chasing Happiness’ Amazon Documentary now Available for Free on Fmovies
Tech3 months ago
Steam Offers Free Games Just Before Steam Summer Sale 2019
Health5 months ago
Acne Scar Healing Serum by Slurp receives Praises from Everyone