The future is here, folks. What will happen when recreational marijuana is legalized in Illinois? It’s only a matter of time. This ain’t your dad’s world of weed dime bags any longer… Not by a long shot.
So, what exactly does that mean for anyone thinking of getting into the industry? What does that mean for the residents?
Well, it looks like there are 3 major trends already emerging in Illinois’s still new medical cannabis industry. These trends will gain serious momentum once recreational pot is legalized here:
Majoring in marijuana
Yep, this is already a thing. Universities are beginning to offer programs in cannabis. Schools such as Northern Michigan University and University of California Davis are offering courses. Want to study medicinal plant chemistry? How about cannabis compounds? Expect this trend to explode, as companies within the industry look to staff up as quickly as possible and find qualified employees. Qualified is the key word here; it’s hard to get experience in an industry that’s still so new. So, employers are hiring people with black market experience, or experience in California or Colorado. Expect more and more colleges and trade schools to come to market, with the goal of filling that gap.
Minority and women cannabis related businesses
This new Illinois cannabis industry is still in its infancy. However, it’s quickly developing a reputation as an industry of white male privilege. And when it comes to access to capital, white male privilege rules. So, expect to see more organizations helping women and minorities gain access to loans and other forms of investment. Also expect to see some companies awarding business to a certain percentage of vendors that are qualified MBE and WBE certified companies. Other highly competitive industries, such as commercial real estate, award business similarly.
Weed will help the Illinois budget crisis
Look what’s happened in the wake of recreational marijuana legalization in Colorado. The resulting tax revenue has helped to balance the state budget and fund schools. As a result, pro-weed supporters expect that the same thing will happen once we legalize recreational pot in Illinois. In fact, this is one of the biggest arguments pro-weed supporters use to make their case as to why we should legalize pot for all. Look at all that potential tax revenue! Now, whether or not you think Illinois will be able to make all of that work without screwing it up in another matter…
Bottom line – when recreational marijuana is legalized in Illinois, it will absolutely affect our economy for the better. Though no one can predict exactly where the hottest trends will emerge, the effect will be positive. Either way, if you’re thinking about looking into the industry, and finding your place in it, your timing couldn’t be better.