Editor’s Note: Today’s post comes from contributing editor Dr. Stefano Tijerina, a lecturer in management and the Chris Kobrack Research Fellow in Canandian Business History at the University’s of Maine’s Business School.
Back in November of 2016 the people of Maine voted in favor of a referendum that legalized medical and recreational marijuana. The medical marijuana market took off quickly, but recreational marijuana regulatory structures slowed down the process for those interested in the Tetrahydrocannabinol (THC). It is now January 2020 and finally the state started accepting applications for recreational retailers.
Cities across the state have now become competitors in a new and potentially lucrative market that will be up for grabs, and that will ultimately change the local economies across the state. Like Colorado, California, Nevada, and numerous others states that have legalized medical and recreational marijuana, Maine is positioning itself as a competitor in this emerging market.