Measure O will reduce the significant unemployment rate and establish and regulate businesses that would normally support the illicit market. Measure O makes good economic sense for the citizens of San Bernardino.
San Bernardino, CA (PRWEB) August 29, 2016
Today, Whitney Economics LLP released its revenue and job forecast for San Bernardino if Measure O wins at the ballot this November. The report projects that Measure O will generate between $19,500,000 and $24,800,000 in revenue for San Bernardino’s general fund in addition to 2,750 jobs.
“Measure O will reduce the significant unemployment rate and establish and regulate businesses that would normally support the illicit market,” notes the forecast author and Professor of Economics Beau Whitney. “Measure O makes good economic sense for the citizens of San Bernardino.”
Measure O Regulates, Taxes and Enforces New Rules
Measure O is the first comprehensive, municipal ballot initiative that builds on California’s recent Medical Marijuana Regulation and Safety Act. Measure O aims to address citizen concerns for public safety, nuisance and safe access by restricting the location of marijuana businesses away from schools and homes. To achieve this, Measure O includes restrictions that restrict the location of marijuana businesses to industrial and commercials zones and away from schools and homes. The report projects that Measure O will generate revenue for San Bernardino’s general fund by charging businesses based on their square footage. In addition, these projections include revenue that the city will generate from utility taxes and other fees.
This forecast notes how San Bernardino is uniquely located and equipped to prosper with California’s growing medical marijuana industry. “San Bernardino is already considered a central location in southern California for this growing market," the report recognizes. "The juncture of major interstate highways, easy access to air freight at local airports and San Bernardino’s success as a logistics and warehousing industry center make it a highly desirable location."
California cities like San Diego, Palm Springs and San Jose have already benefited from similar efforts. Cities that regulate this market see a significant increase in revenue and a dramatic decrease in the number of illegal businesses, criminal activity and citizen complaints. The report explains that Measure O generates new revenue from a variety of regulated businesses, including medical marijuana dispensaries. The analysis from economist Beau Whitney predicts that this revenue will fund law enforcement and contribute to the overall city budget.
About Whitney Economics
Prior to founding Whitney Economics, Beau Whitney spent 15 years as a business analyst in the high tech industry, honing the ability to analyze a business and make strategic and tactical decisions for fast-paced, high-growth industries. Beau has a BA in mathematics from Macalester College and an MBA from Thunderbird School of Global Management. Beau is also a professor of economics and a member of both the American Economic Association (AEA) and the national Association of Business Economics (NABE) and is the Portland chapter president of the NABE.
About Measure O
Measure O - San Bernardino Regulate Marijuana Act (SBRMA2016.com), is a citizen-backed initiative that aims to bring comprehensive and rational reform to medical marijuana laws in the city and projects $19-24 million in new revenue and 2,750 living wage jobs. This projected revenue is expected to be a windfall for the City of San Bernardino through new revenue to support public safety and enforcement. Measure O will be on the ballot on November 8, 2016. Learn more at http://www.sbrma2016.com.