The editorial board of the Oregonian has published an article arguing that new rules intended to keep pot revenue inside the state risk hamstringing the industry’s growth potential.
The piece, which was published last Saturday, notes that the Oregon Liquor Control Commission (OLCC) is charged with striking a tricky balance: make legal pot profitable for the state and its citizens without limiting growth and investment in the industry.
The OLCC has established a residency requirement for marijuana license applicants while allowing out-of-state investments. “It’s not clear, however, that this would bring about the best results for Oregonians,” argues the editorial board.
House Bill 3400 already requires that applicants be Oregon residents of at least two years. The OLCC, however, has gone further: although non-residents can own up to 49% of firm, “non-resident owners may not be directly involved in the operation or management of the business.”
The Oregonian argues that “Oregon should not hobble itself by limiting out-of-state investment and involvement… If it takes an out-of-stater with a financial position in the firm to manage an Oregon-based pot operation… let it be so.”
“Jobs to Oregonians won’t be lost if such a business succeeds. Jobs could be fewer if such a business were to limp along or fail… It would be shortsighted if a promising new marijuana market… were to suffer growth constraints because of errant, if good-willed, provincialism,” the board concludes.
Photo Credit: arachnized Ѫ mechanid
Get daily cannabis business news updates. Subscribe