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NTRR Front and Center Anticipating Strong Growth in Cannabis Space
What’s being termed a “tax bonanza” due to a cannabis windfall for Colorado has more states exploring legalization, potentially leading to large-scale market growth for support. Industry companies including Neutra Corp. are in the middle of the discussion.
Far exceeding earlier estimates, new Colorado budget numbers predicted last week that cannabis taxes could add more than $100 million to the state’s coffers. A budget proposal from Gov. John W. Hickenlooper estimated that Colorado’s cannabis industry could reach $1 billion in sales in the next fiscal year.
In the state of Washington, where retail cannabis sales will begin this summer, forecasters estimated last week that cannabis could bring the state nearly $190 million in taxes for the four-year period beginning in 2015.
While the New York Times was calling these numbers a “tax bonanza” exceeding expectations, other states around throughout the country are eagerly considering new legislation of their own to capitalize on the growing demand for the cannabis product. That’s good news for Neutra Corp., which is marketing and developing new technologies to assist growers and patients in the nation’s rising medical cannabis sector.
Alongside partners Vertigo Technologies, NTRR is working to deliver a turn-key solution for indoor horticulturalists that can be used to produce any number of indoor crops, but could be especially useful for growers in Colorado and other booming horticultural markets where high yields and speedy production are vital to business interests. Earlier this month, NTRR acquired Diamond Anvil Designs (DA), a cutting-edge developer of customizable vapor pens that can be adapted to deliver a variety of nutraceutical substances, including dry herbs, oils, and waxes.
Twenty states and Washington, D.C., have legalized marijuana for medical use, with two states—Colorado and Washington—legalizing recreational use, as well. The dispensaries and other MMJ businesses have for years been forced to deal largely in cash because banks feared legal risks associated with serving them. Recently, the U.S. government issued rules intended to increase the availability of financial services to marijuana businesses licensed and regulated by the states.
By providing new technologies designed for safe and reliable access to cannabis in approved markets, Neutra Corp. anticipates unprecedented growth in 2014 alongside Cannabis Science, Inc.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. For more information about the company visit www.neutracorp.com.
