Business View Magazine March-2019

250 six states by 2021: California, Colorado, Massa- chusetts, Nevada, Oregon and Washington. Colorado leads by example, demonstrating the potential for development and growth once the full benefits and best legal practices of an adult-use cannabis business model are imple- mented. For instance, marijuana-occupied in- dustrial properties in Denver rose 17.6 percent in 2017 to $115 per square foot, up from $98 per square foot in 2014, according to a 2017 study by CBRE. Unemployment across the state is also low, holding at a steady 2.3 percent, and is often hailed as the lowest in the coun- try. Colorado can be used as a model for the growth of the cannabis industry and as a blue- print for legislative and regulatory progress. One of the core functions of CBA is to work with state officials and continue research on appropriate cannabis regulations, testing methods, and requirements. There is still room for improvement within the industry for great- er legislation and official guidelines. Colorado has led the national conversation with a mul- titude of successful regulatory proposals. This includes a crackdown on the sale of black market cannabis and an intensifying focus on retail marijuana due to Sunset Review on bills by the Colorado Department of Regula- tory Agencies (DORA). Colorado is also seeking to amend the 70/30 rule, in place since 2011, which dictates that dispensaries must produce at least 70 percent of the cannabis they sell. While intended to reduce the black market for cannabis, it has significantly hampered the

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