18
JUL
2014

Entrepreneurs prepare for Medical Marijuana Industry in Florida

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The medical marijuana industrial-complex is in full swing in Florida.
With the question of legalizing medical marijuana heading to voters on the November 4 ballot, entrepreneurs are popping up in an effort to get in on the ground floor of the movement.
Many medical marijuana companies have registered with the state this year. Medical Marijuana of Brevard LLC, Medical Marijuana Business Lawyers LLC, and Medical Marijuana Centers of Florida Inc., are among the first positioning to take advantage of a boom, should Florida voters approve the referendum by a 60 percent margin.
The medical-marijuana referendum, if approved, would allow for cultivation, purchase, possession, and use of medical marijuana to treat certain medical conditions when prescribed by a physician.
Curtis said he’s optimistic the law will pass, noting that state lawmakers are already laying the ground work for the regulatory framework for what could be a billion-dollar legal industry.
Amy Baker, coordinator of the Office of Economic and Demographic Research, told the WLRN radio station listeners that growers may get an agricultural tax exemption. There could be tax exemptions for food products or common home remedies, as well.
While the Office of Economic and Demographic Research of Florida says anywhere from 417,252 to 1.3 million may qualify for medical marijuana.
California was the first state to adopt a medical marijuana program in 1996, and was followed by Alaska, Washington, and Oregon in 1998. Maine joined the party in 1999. From 2000 and 2013, more states followed suit, including Colorado, Nevada, Hawaii, Montana, Vermont, New Mexico, Rhode Island, Michigan, Arizona, Washington, D.C., New Jersey, Delaware, Connecticut, Massachusetts, Illinois, and New Hampshire.
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