Advocates say that legalizing medical marijuana could be just the right medicine for the state's economy. If the economics of the industry follow what's happened in other states, they estimate it will pump billions into this state's education system.
"It will cost an estimated $2-million to set up the system here and once that amount is paid back to the state the tax money collected will go to education here and that could easily be as much as $2-billion a year!" says Kurt Barrick, CEO of the VonDank Group which specializes in cultivating high-quality medical grade marijuana in enclosed nurseries in other states.
Population is how they are setting the limits on how many will be established. And according to the state's formula about 40 will be allowed in Clark County and about 10 in Washoe County.
"We are still a ways away," Barrick says. "There are permits, licensing, building designs, architectural work, a lot of things to set up. I'd say the earliest you could see doors open here would be six months and it may easily take another year or two to get everything approved and going."
His company will see competition, as many developers see this as an up and coming industry nationwide and hope to get in on the ground floor. He says investors will be making a significant deposit up front but that in other states it has paid off nicely. And he was in town talking with potential investors today, not even two days after Governor Brian Sandoval signed the bill legalizing it, into law.
Written by Erin Breen
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