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Legal Marijuana Is Fastest Growing Industry in the U.S.

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The U.S. market for legal cannabis grew 74% percent in 2014 to $2.7 billion, up from $1.5 billion in 2013 making it the fastest growing industry in the country, according to a report issued by ArcView Market Research.

The report also shows that if trends continues and all states legalized marijuana, the total market size would top $36.8 billion, making it larger than the organic food industry which is $33.1 billion, according to Nutrition Business Journal.

The main driver of projected growth over the next five years will be the passage of more state laws allowing regulated cannabis sales, according to the report, which predicts that 14 more states will legalize adult use, and two more states will legalize medical use over the next 5 years.

These new markets plus maturation of the existing markets will create a $10.8 billion annual market potential by 2019.

California is still the largest legal cannabis market in the country at $1.3 billion, according to the report.

Further, more than 1.5 million consumers purchased cannabis legally from a retail medical or Adult-use store in 2014.

Looking at emerging trends, the report says that cannabis concentrates and various infused products are quickly gaining market share at the expense of the traditional cannabis flower market and that national brands are beginning to emerge and spread to various states.

The executive summary of the report is downloadable for free at legalmarijuanamarkets.com

 

California Black Media

Controller Malia Cohen Convenes Auditors from Counties Across California

The conference focused on key issues related to county financial management and reporting. This annual event is mandated by Government Code 12422, which requires the State Controller to convene county auditors at least once a year. The conference served as a platform to discuss county budget procedures, financial transaction reporting, and property tax revenue allocation, promoting consistency in the duties of county auditors statewide.

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California State Controller Malia Cohen. File photo.

By Bo Tefu, California Black Media

California State Controller Malia Cohen welcomed auditors from across the state for the 79th Annual County Auditors Conference, a three-day event and award ceremony hosted in Santa Cruz.

The state controller honored the award recipients by celebrating their excellence in producing accurate financial data.

The conference focused on key issues related to county financial management and reporting. This annual event is mandated by Government Code 12422, which requires the State Controller to convene county auditors at least once a year. The conference served as a platform to discuss county budget procedures, financial transaction reporting, and property tax revenue allocation, promoting consistency in the duties of county auditors statewide.

In her opening remarks, Cohen emphasized the significance of collaboration between her office and the county auditors.

“I want to congratulate all of the counties receiving today’s County Financial Transactions Reporting award,” stated Cohen. “Your county’s diligence in reporting is critical for my office to produce accurate local government financial data, which is of vital importance to policymakers, researchers, and constituents throughout California. Thank you for your contribution to the quality and transparency of public finances.”

Cohen also moderated a panel discussion featuring Assemblymember Gail Pellerin and Department of Finance Director Joe Stephenshaw. The panel addressed critical topics such as the upcoming state budget, technological advancements, and anticipated fiscal challenges for local governments in the coming fiscal year.

In addition, Cohen recognized counties that received the California State Controller Financial Transaction Reporting Award, highlighting the importance of accurate and timely financial reporting.

More than 40 counties won the coveted Financial Transaction Reporting Award, celebrating their commitment to excellence in financial management. Counties that won an award include Alameda, Contra Costa, Los Angeles, and Sacramento.

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Oakland Post: Week of October 30 – November 5, 2024

The printed Weekly Edition of the Oakland Post: Week of October 30 – November 5, 2024

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Business

Special Interview: Rep. Barbara Lee Discusses Kamala Harris’ Plan for Black Men

On Oct. 16, California Black Media (CBM) spoke with Harris-Walz campaign surrogate, Congresswoman Barbara Lee (D-CA-12), who shared more insights on Harris’ agenda and the importance of securing the Black Male vote. “She has said very clearly that she wants to earn the vote of everyone. And that means earning the vote of Black men,” said Lee of Harris. “She understands the systemic and historic challenges that Black men have. You haven’ t heard of a presidential candidate coming up with a concrete actual plan and policy agenda.” The agenda includes five focus areas based on insights she gleaned from hosting discussions with Black men during her Economic Opportunity Tour.

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(File Photo) U.S. Congresswoman Barbara Lee (D-13-Oakland) chides Justices on the Supreme Court of the United States for voting to strike down Affirmative Action. She is shown here speaking in front of the California Reparations Task Force in Oakland on May 6, 2023. CBM photo by Antonio Ray Harvey. By Edward Henderson, California Black Media
(File Photo) U.S. Congresswoman Barbara Lee (D-13-Oakland) chides Justices on the Supreme Court of the United States for voting to strike down Affirmative Action. She is shown here speaking in front of the California Reparations Task Force in Oakland on May 6, 2023. CBM photo by Antonio Ray Harvey. By Edward Henderson, California Black Media

By Edward Henderson, California Black Media

Last week, the Kamala Harris campaign released its Opportunity Agenda for Black Men.

On Oct. 16, California Black Media (CBM) spoke with Harris-Walz campaign surrogate, Congresswoman Barbara Lee (D-CA-12), who shared more insights on Harris’ agenda and the importance of securing the Black Male vote.

“She has said very clearly that she wants to earn the vote of everyone. And that means earning the vote of Black men,” said Lee of Harris. “She understands the systemic and historic challenges that Black men have. You haven’ t heard of a presidential candidate coming up with a concrete actual plan and policy agenda.”

The agenda includes five focus areas based on insights she gleaned from hosting discussions with Black men during her Economic Opportunity Tour:

 

  1. Provide 1 million loans that are fully forgivable to Black entrepreneurs and others disadvantaged groups to start businesses.
  2. Champion education, training, and mentorship programs that help Black men get good-paying jobs in high-demand industries It will also develop more accessible pathways for Black men to become teachers.
  3. Support a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected.
  4. Launch a National Health Equity Initiative focused on Black men that addresses sickle cell disease, diabetes, mental health, prostate cancer, and other health challenges that disproportionately impact them.
  5. Legalize recreational marijuana and creating opportunities for Black Americans to succeed in this new industry.

“[Vice President Harris] knows that Black men have long felt that too often their voice in our political process has gone unheard and that there is so much untapped ambition and leadership within the Black male community,” the language in the agenda states. “Black men and boys deserve a president who will provide the opportunity to unleash this talent and potential by removing historic barriers to wealth creation, education, employment, earnings, health, and improving the criminal justice system.”

Diving into Harris’ agenda, Lee says, reminded her of her own record of supporting Black men over the years as an elected official. In the 90’s, she established the first California Commission on African American Males through which she pressured the state to address urgent economic, health and social challenges specific to Black men.

“No group of people are a monolithic group of people,” said Lee She’ s not taking any vote for granted. I’ve known her over three decades and I believe she is being herself. She’ s authentic,” Lee added.

Each of the 5 key points addressed in the Harris Campaign’s agenda, Lee says, has additional clauses that can potentially help Black men and their families thrive. This includes lowering rent; up to $25,000 in downpayment help for first time homebuyers; and cutting taxes for Black men in lower-wage jobs by increasing the Earned Income Tax Credit maximum to $1,500.

“I think the messages is one of empowerment for Black men — regardless of whether they’ re a blue-collar worker, if they’ re not working, if they’ re in business, if they’ re an entrepreneur, whatever background or whatever they’re doing or experiencing life. I think the authenticity of their experience can only be articulated through them,” said Lee.

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