Tripp Keber, president and chief operating officer, is actively seeking a foothold for the company in Massachusetts. Mr. Keber, a former real estate entrepreneur, has visited the state three times in the past year and is familiar with both Nantucket and Martha's Vineyard from recent visits. He wants to form a partnership with a licensee in the state to build a state-of-the-art food manufacturing operation, and a marijuana production facility. "The market is probably going to grow to $75 million to $100 million in the first year," Mr. Keber said in a phone interview. "Within 24 to 36 months, probably $300 million." In Colorado, where medical marijuana was legalized in 2000, and where the drug was legalized with no medical restrictions in a ballot referendum last year, Mr. Keber expects the market to triple. "We'll probably be pushing a $1 billion market here [in Colorado]," he said. He predicts Massachusetts could follow a similar path. "There's certainly an undertone within the industry," Mr. Keber said. "There is some talk that within the next two years, there will be a movement to fully legalize it." Balancing Benefits The medical marijuana industry touts jobs and tax revenue for host communities. A report issued by the National Cannabis Industry Association measured the economic impact of the medical marijuana industry on 10 Colorado towns. One of the towns profiled in the report was Aspen, a resort community with a large seasonal influx of visitors and second home owners, and a population roughly equal to the three down-Island towns on Martha's Vineyard. According to the industry group, sales of medical marijuana and related products in Aspen totaled $1.4 million in 2011. The state of Colorado collected $24,973 in sales taxes, and $41,537 in other state taxes, according to the report. The Massachusetts law does not address tax rates or licensing fees. Article: http://www.mvtimes.com/2013/03/06/medical-marijuana-industry-eyes-massachusetts-market-14555/ Boston Globe Cover Story on Medical Marijuana, March 7 2013 The Boston Globe has seen sufficient popularity within the cause for medical marijuana, recently legal in Massachusetts, to put a favorable article on the cover of this morning's edition of the newspaper. The article, titled: Medical Marijuana Businesses Look to Mass. For Growth features a comparison with Colorado where a booming medical marijuana business is flourishing and a similar ground-floor opportunity may well exist in Massachusetts. To quote from the Boston Globe: Tripp Keber, widely considered the king of cannabis-infused products, is also looking East. His Dixie Elixirs & Edibles enterprise earned more than $1 million in 2012 by selling medicated carbonated beverages, infused edibles such as chocolate truffles and fruit lozenges, and other items to roughly 500 medical marijuana dispensaries in Colorado, where medical marijuana has been legal since 2000. Keber projects his company's sales will more than triple this year as Dixie Elixirs strikes deals in Arizona, Washington, D.C., Connecticut, and Massachusetts. He is in discussions with six Bay State entrepreneurs, including one in Nantucket, to license the brand and technology. At Dixie's Colorado headquarters, molecular biologists wearing white lab coats work with mechanical engineers, chemists, food scientists, and a chef to create dozens of products in a Willy Wonka-like setting. They concoct a rainbow of elixirs, including sparkling pomegranate sodas formulated with up to 75 milligrams of THC (the active ingredient in marijuana) per 12-ounce serving and mandarin orange-flavored energy boosters with about 60 milligrams of THC and as much caffeine as a cup of premium coffee. The standard dose is about 10 milligrams, so such products are not intended to be single-serve. Keber has more than 40 employees after acquiring four medical marijuana businesses and is negotiating to take over two more. To support the growing empire, Dixie has hired three law firms, five consultants, a graphic designer, and a security company. "Medical marijuana has created a cottage industry. This business is growing exponentially," Keber said during an interview in his office, where he proudly showcases Dixie's most recent honor: a fake marijuana leaf in a snow globe emblazoned with the words "Most Valuable MMJ Business," awarded by local cannabis consultants. (MMJ is industry shorthand for medical marijuana.) "Two to three years ago, we couldn't get someone to return our calls," Keber said. "Now, on any day, we have three to five vendors calling, e-mailing, or knocking on our door wanting to do business with us." The article also states that Massachusetts is poised to enroll about 100,000 medical marijuana patients within two years - similar in size to Colorado's medical marijuana population. Article: http://bostonglobe.com/business/2013/03/06/medicial-marijuana-businesses-look-massachusetts-for-growth-opportunities/zsDvlSuQXM2D3akA94wguN/story.html Massachusetts medical marijuana law went into effect January 1 2013 as a result of the November 2012 ballot where an overwhelming 63% of the voters passed the legislation. Upwards of 35 dispensaries can open within the state - at least one but no more than five dispensaries must open in each of the 14 Massachusetts counties. Expected opening of dispensaries is slated for spring 2014.
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