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The Illinois Department of Agriculture (IDOA) and the Division of Cannabis Regulation announced today an official Metrc implementation timeline for licensed cannabis businesses transitioning from BioTrack to Metrc as Illinois’ track-and-trace data system. To move items into Metrc, plants and packages will need Metrc RFID Tags.
billion in the United States in 2018, and the number of “plant-touching” jobs is expected to pass 500,000 by 2022, according to New Frontier Data, a cannabis market research and data analysis firm. To succeed, you need more than a solid business plan and ace team (though those are crucial, too). Legal weed generated $10.4
Cannabis businesses share the modern environment of extremely high data security risk. The cannabis industry occupies a unique spot when it comes to user data security.
Is cultivating marijuana to blame, or something else? There is no data showing that there are pervasive health or safety issues in the cannabis industry. However, this data is qualified by the fact that all but 1 of those workers admitted to smoking cigarettes or cannabis daily. What is ‘green lung’?
In exchange for these payoffs, the former Massachusetts mayor would provide a non-opposition letter, which is a requirement to have a cannabis business in a municipality in Massachusetts. The newly emerging legal cannabis industry has cultivated more than just cannabis and jobs. Massachusetts, U.S. Attorney Nathaniel R.
If authorized, medical patients can cultivate up to two flowering and two non-flowering cannabis plants. Patients cannot cultivate without explicit authorization. The measure included cultivation and possession of cannabis without any regulation on taxation or sales. Fortunately, they can deduct cost-of-business expenses.
Around tax time, I get this question a lot: “What is my cannabis business’s NAICS code or Business Activity Code?” It’s used by Federal statistical agencies for the collection and analysis of statistical data related to our economy. 115112 – Soil Preparation, Planting, and Cultivating.
–(BUSINESS WIRE)– $ZDPY #Brokerage –Zoned Properties®, Inc. The increasing demand for regulated marijuana cultivation space and consumer products in Arizona has gone far beyond initial projections as the result of the recently approved and implemented adult-use marijuana program. SCOTTSDALE, Ariz.–(BUSINESS
According to data from the Missouri Department of Health and Senior Services, there are 192 licensed dispensaries in the state. Fees that are associated with cultivation, manufacturing, and dispensing medical marijuana have also been a source of revenue for the state, and range anywhere from $6,000 to upwards of $25,000.
(CSE: MXT) (OTCQB: MXTTF) aims to address these problems by pairing biometric interviews with brainwave data to create a proprietary mental health reference database. Using machine learning algorithms and qualified practitioner input, the company is leveraging that data to build tools that deliver digital diagnostic opinions.
Big data and technology have become critical to a wide variety of industries in recent years, and the cannabis industry is no exception. Today, databases, predictive analytics, artificial intelligence , and machine learning are having widespread effects on cannabis businesses, investors, regulators, and consumers. Met consumer demands.
–(BUSINESS WIRE)– #cannabis — PureVita Labs , a 6,800 square-foot facility designed to be the premier cannabis and hemp testing and analytics laboratory in the New England region, has been licensed by the Department of Health to sample and test marijuana for potency and contaminants. WEST WARWICK, R.I.–(BUSINESS
READ MORE: The ‘Dudders’ Case or: How Legalization Opened the Door for Cultivators to Embrace Science . billion in total cannabis sales thus far in 2021 (according to New Frontier Data). The post HEXO Achieves Carbon Neutrality – Cannabis Business Times appeared first on SpeedWeed. View original article.
The Rules establish the recreational cannabis industry in New Jersey and allow the CRC to begin licensing businesses as soon as possible. These classes include cultivators, manufacturers, retailers, distributors and delivery services. This number includes expanded ATCs, but not microbusiness cultivators.
For this post, I want to focus on the where the new cultivation licenses have been issued, what it means for the total number of licenses, and what might it translate into in terms of expanded canopy size. Through the end of May, 3,278 new cultivation licenses were issued in 14 states. How Much Canopy was Licensed in California?
Current Treatment of Cannabis Businesses and Workers. But there are a few data points that we can isolate that are highly telling. While retail cannabis employees typically have good experiences, cultivation workers such as trimmers might experience something completely different. The Benefits of Unionization Under State Law.
What are investors looking for when they consider investing in cannabis businesses today, and what are the biggest mistakes companies make when trying to attract investors and secure funding? What Cannabis Business Investors Want. Other top considerations included the business plan, past performance, and future potential.
In particular, the Biotech Institute’s patent on all cultivars carrying the genes for both CBDA and THCA production with a specific terpene profile has stirred up quite a bit of controversy amongst cultivators and breeders. Whole Genome Data. Sequencing data is only as good as the reference to which it is compared. Our Approach.
Through our ecosystem, cannabis businesses can manage, strategize, report on, and plan every facet of their business and supply chain.”. Over a dozen cannabis businesses are successfully running the software, which was built to serve the industry’s unique regulatory and compliance needs. About Akerna.
Based on government agency data, when viewed collectively, Ionic Brands manufacturing partners’ amount to the fifth-largest wholesale operator in Washington by revenue for the period of 2020. This press release includes market and industry data that has been obtained from third party sources, including industry publications.
The money will be used to purchase the cultivator’s assets. Included in the deal are a hoop house, indoor greenhouse, outdoor cultivation capacity, equipment, and cultivation facilities. million for the business, and $4.5 million for the business, and $4.5 Medicine Man Technologies Inc., The deal’s $11.3
Let’s take a closer look at five key ways big data and technology are directly impacting the industry. Big Data Streamlines the Marijuana Regulatory Process and Helps Close the Scientific Research Gap. Therefore, the growing marijuana market lacks the clinical data needed to help marijuana businesses create new and better products.
Over the study period, 59% of dispensary licenses were issued to minority- or women-owned businesses (compared to 21% for the medical cannabis market). Additionally, minority- or women-owned businesses held 63% of craft grower, 61% of infuser, and 74% of transporter licenses. Black loan applicants face higher bank loan denial rates.
It has the potential to revolutionize the experience for consumers and companies alike, from improving the cultivation process and boosting production to increasing efficiency, solving supply chain issues, and enhancing the customer experience. Analysis from AI can help businesses increase customer loyalty and drive sales.
Data Snapshot: Cannabis Consumer Spending and Trends: James Ahrendt , Business Intelligence Architect, Akerna. We carefully curate this data and research-based report for anyone interested in gaining a better understanding of the fastest-growing industry in the world,” says Jessica Billingsley , Akerna Chief Executive Officer. “We
There are five important “categories,” that require company leaders’ utmost focus and attention as they launch a compliant cannabis business in a newly legal state. Non-compliant businesses face the risk of being shut down and attract negative attention to the cannabis industry. Cutting across these categories is the team. Real Estate.
Cannabis legalization is expanding at a rapid clip into states not usually associated with large scale marijuana cultivation. This includes Midwestern states like Michigan and Illinois that don’t benefit from year-round sunshine like California, for decades the cannabis cultivation powerhouse of the United States.
As veteran marijuana business owners (and virtually every other type of industry owners) know, there may come a point in time in the business when you are sitting across the table from someone who is offering to put money into your business. They may be your prospective business partner. They may be friends of friends.
Being involved in the marijuana business right now is all about complying with regulations and maximizing your profit. Here are some tips and ideas for better marijuana cultivation and for the maximization of yield. Wheeled tables make marijuana cultivation a lot easier and more convenient. Make use of the PAR met er.
Provides a conditional adult-use cultivator license to process and distribute cannabis flower products without holding an adult-use processor or distributor license; provides a conditional adult-use processor license to process and distribute cannabis products; provides for the repeal of certain provisions upon the expiration thereof.
California Cannabis Cultivation Tax Eliminated. The budget trailer bill eliminated the cannabis cultivation tax beginning July 1, 2022. The harvested cannabis was first sold or transferred by a cultivator to a distributor on or after July 1, 2022. Delivery Data Required to be Reported in Metrc.
Hemp Benchmarks , a division of New Leaf Data Services and leading provider of financial, business, and industry data for the North American hemp markets, recently issued its report for July, which touches on some of the most high-profile talking points of the hemp market to date.
This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. The establishment of cultivation, processing, and dispensary facilities creates a diverse array of employment opportunities, spanning from agricultural roles to retail positions.
Researchers from Colorado State University set out to rectify this situation by determining the exact carbon footprint of the average indoor cultivation facility. . And to account for the variation in temperature and humidity across the country, the scientists created a weather model based on a whole year’s worth of meteorological data.
As of start of business Wednesday, September 1, the Commission reported licensees have generated $844 million since January 1, already making 2021 a record sales year thus far. And despite being closed for two months in 2020 due to the COVID-19 public health emergency in Massachusetts, 89 Marijuana Retailers generated $714.1
The recent new team members are: Tracy Timko , Director of Franchise Support: In a pivotal role at the heart of the business as one of the key links between the franchisor and franchise partners, Timko’s track record spans several franchise companies across Kahala Brands’ portfolio and beyond. She joins Unity Rd.’s Currently, Unity Rd.
Monopolies and oligopolies started developing years ago in the cannabis industry — not just in terms of big businesses usurping smaller businesses but also in terms of state regulations that allow vertical integration, which leads to markets dominated by one or a few players that control the cultivation, processing, and sale of cannabis products.
Notably, both the low and high ends of observed transaction data – $900 and $1,650 per kilogram – were up compared to May.”. Flower grown indoors or in greenhouses also typically commands a premium price compared to that cultivated outdoors.”. Earlier this year the Phoenix Business Journal reported.
MARLBOROUGH, New Zealand & VANCOUVER, British Columbia–(BUSINESS WIRE)– #ERP–Elevated Signals software will enable Puro to become a data-led cannabis cultivator, Read More
From July 2017 to June 2018, the state saw $529,851,245 in taxable medical and adult-use cannabis sales, a figure that has steadily increased to $719,216,651 during the current fiscal year, which includes sales data from July 2020 to March 2021, according to the Nevada Department of Taxation. They’re flexible and ready to pivot.”.
Illinois News Joint has connected, collaborated, and partnered with hundreds of Illinois cannabis industry businesses and individuals, and we want to share our knowledge with others in the cannabis industry. Along with a updated Illinois News Joint graphics and color scheme, we also recently launched News Joint Printing.
For years, research has proven that content published by businesses on Instagram can directly lead to increased brand awareness, word-of-mouth marketing, and sales. According to Instagram’s own data, 90% of users follow a business on the platform. Despite that history, some cannabis businesses have found success on the platform.
We are proud to offer cannabis operators the most comprehensive cannabis technology ecosystem of the best-in-class tax, financial, compliance, consulting, training, data analytics, product development, and more.”.
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