Bullet points regarding California cannabis market. Go ahead criticize and ignore but these are all documented facts not opinions or theories.
-More than 70% of the state doesn’t allow for marijuana retailers.
-Cannabis businesses are being more negatively impacted by the COVID-19 pandemic because they have less access to banking services that could provide liquidity, have a younger consumer base likely to be disproportionately affected by the COVID-19 recession, and still must contend with competition from the black market, which accounts for
an estimated 75% of sales.
-Taxes from legal mariuana sales were originally estimated at over$1 billion a year. They have averaged less than half that amount.
-California’s poverty rate is the highest in the nation at over 18%. -New restrictions on natural gas will increase electricity costs, making the problem worse.
Pacific Gas and Electric Co.’s residential electric rates are already about about 80% higher than the national average, while San Diego Gas & Electric charges about double the national average and Southern California Edison’s are 45% higher.
-In 2020 for the first time since 1850 California recorded a net loss of 70,000 residents.
-Individuals and companies are exiting the state in record numbers.
