San Bernardino is an interesting opportunity...if Measure O wins on November 8, San Bernardino could quickly move to the top of my list.”
San Bernardino, California (PRWEB) September 26, 2016
As California presses forward with statewide efforts to control and regulate the medical marijuana industry, San Bernardino is attracting industry attention with upcoming ballot Measure O. With San Bernardino’s reputation as a logistics and transportation center, businesses expect to capitalize on the city’s ample undeveloped industrial real estate and its ready workforce.
Some businesses took note of a recently published economic analysis projecting that Measure O will create 2,750 new jobs and generate between $19,500,000 and $24,800,000 in new revenue for San Bernardino’s general fund. The Whitney Report explained that San Bernardino is highly desirable because it sits at “the juncture of major interstate highways, easy access to air freight at local airports”. Author of the report, economist and professor Beau Whitney, also noted “San Bernardino’s success as a logistics and warehousing industry center”.
“We are growing our laboratory testing business to support the state’s commitment to safe access and a well-regulated industry with inspections and testing,” notes Bryan Callum, Head of Business Development at Mass Spectrum Labs. “San Bernardino would be ideal for our next lab because it is central. Plus, the real estate and cost of living is attractive compared to Los Angeles and Orange Counties.”
A handful of more remote cities like Adelanto, Desert Hot Springs, Coachella and Cathedral City launched a real estate boom as businesses take advantage of recent marijuana regulation and reform in these cities, but some businesses are attracted by the fee structure outlined in Measure O. The Whitney Economics forecast noted that Measure O offers especially attractive economics compared to many of these first-movers. “[Measure O’s] fees are not overly burdensome,” concluded the report. “They are significantly lower than tax proposals in other municipalities, counties and states.” The full report is available at bit.ly/WitEcon
“A number of businesses are rushing into the high desert and Coachella Valley,” remarked Jeff Spitzer, a Principal at Green Thum Growers. “But we’re taking our time to evaluate the perfect location for some fairly large buildings. Some of these first cities are seeing early success, but I’m not certain how long-lived this will be. For instance, Palm Springs realized that their outright ban was failing, costly to enforce and only enriched a black market.”
Spitzer also believes that fast-moving cities may not be as attractive in the long term. “Some of these cities may be the first to reform, but that doesn’t solve their remote location,” he explained. “Also, some cities created expensive tax structures for medical marijuana businesses. In contrast, Measure O seems to strike a healthy balance. The businesses can support the community’s desire to control this industry and contribute significant revenue to the city budget through fair taxation.”
Maureen Powers, CEO at Essential Oils, a medical-grade manufacturer specializing in treatments for epilepsy and other state-approved indications, explained that they were also carefully evaluating opportunities for expansion in the Inland Empire. “There is a mad rush in some regions,” explained Powers. “But when I plan a big expansion, I proceed cautiously. San Bernardino is an interesting opportunity among many reform-minded cities in Southern California. If Measure O wins on November 8, San Bernardino could quickly move to the top of my list.”
About Measure O
Measure O, the San Bernardino Regulate Marijuana Act of 2016 (SBRMA), is a citizen-backed initiative that will 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 will deliver an economic windfall to the City of San Bernardino through new revenue to support public safety and enforcement. To achieve this, Measure O will end the current ineffective ban, eliminate illegal marijuana businesses and offer licensing for well-regulated businesses located far from schools and homes. Measure O will be on the ballot on November 8, 2016. Learn more at http://www.sbrma2016.com.