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What the new ‘green’ industry really means

On Behalf of | Jul 22, 2015 | Mergers & Acquisitions

When you think about what the “green economy” would be in 2016 and beyond, you may be led to believe that clean fuel sources would drive this industry. This would include cars driven by electric fuel cells, solar panel technology, electric fueling stations and energy efficient building materials.

While you would be correct in assuming that these elements likely will be a part of the green economy in coming years, one element (or industry) is largely absent. The marijuana industry is arguably poised to be a major force in the new green economy. 

For those who are skeptics, consider this; 24 states have incorporated laws that allow for medicinal or recreational use of the drug. In 2016, several states will have recreational use questions on their ballots, and even more will allow for medicinal use. With this type of growth, it is expected that marijuana will be a billion dollar industry before we know it.

Also, the industry is growing with businesses supporting peripheral suppliers, including agricultural advisors, smokeless vaporizer manufacturers, and rolling paper providers. Even the tech industry is getting involved, with web designers and software developers contributing to licensed dispensaries and growers.

Because of this activity and the business opportunities involved, it is prudent to have experienced legal representation to help in answering important questions that challenge new businesses entering into this arena. After all, the best way to maximize profits is to minimize the potential for costly lawsuits. In the meantime, it is interesting to see an entire industry grow from obscurity.