The agency in charge of implementing legal recreational pot sales says it expects $18.4 million in revenue.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The Oregon Liquor Control Commission will request $10.5 million for the first two years of the regulated marijuana industry.
The agency in charge of implementing legal recreational pot sales says it expects $18.4 million in revenue.
From OregonLive.com:
The budget request, which agency officials will present to lawmakers Thursday, calls for hiring 33 employees. It also includes $1.9 million for computer programs that deal with licenses, tax collection and tracing marijuana production from seed to sale.
“This requested budget reflects what the agency needs to implement recreational marijuana on time and on schedule,” said agency director Steven Marks in a statement detailing the request.
According to Willamette Week, this budget proposal includes money for “peace officers” — a program that has been panned as being outside of the scope of the law of which voters approved.
The Portland Tribune provides some context on what the agency expects to bank during the first two years:
Home grow and personal possession of certain amounts of marijuana becomes legal beginning July 1. Under Measure 91, approved in November by voters, OLCC is required to begin accepting applications for commercial recreational licenses on Jan. 4, 2016. Retail sales of recreational marijuana are expected to start in the third quarter of 2016.
The budget request calls for hiring and training 33 employees in the marijuana program beginning this year. It also includes $1.9 million for IT projects needed to issue licenses, collect taxes and a traceability (seed-to-sale) system. It also calls for an additional $636,000 for capital construction and $1.4 million to repay money borrowed from the liquor fund to start the marijuana program in the 2013-15 budget.
The budget includes $350,000 for and educational campaign.
As the state prepares for July 1, a Seattle legal weed investor wants to get into the Oregon market.
Willamette Week wrote a Q&A interview detailing Brendan Kennedy’s efforts:
WW: What’s the analog to post-prohibition marijuana? Is it post-Prohibition alcohol?
Brendan Kennedy: This is a mainstream product consumed by mainstream Americans. They’re just looking for brands that don’t insult or offend them, and most of the brands in this industry still do. In Silicon Valley, generally, there was a technology risk—you know, could this team build this thing? And if they build it, will people buy it? This industry doesn’t have that risk. People were already consuming this product. What will happen is, it will transition from a state of prohibition to legalization.
