Colorado’s cannabis industry is benefiting from a “first mover” advantage. Entrepreneurs are locating here, opening businesses and hiring people, Taylor West, of the National Cannabis Industry Association, said.
That advantage may not last. California voters will be asked about marijuana legalization in November of 2016. Connecticut is eyeing legalization, as are other states.
“That may shift things a little bit,” West said.
Colorado’s marijuana industry has quickly helped drive huge changes in the industrial real estate market, especially in the Denver area, West said.
“It’s still growing, but not as exponentially as it did in the first year and a half,” West said. “In Denver, lots of businesses are competing with each other for a share of a statistically stable market.”
Revenue and sales are still going up, West said, but the growth is easing as the industry matures.
“The greatest room for growth is outside the Denver metro area, where the rest of the state was a little slower to adopt it,” West said.
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