Latest news with #CannabisIndustry
Yahoo
5 days ago
- Business
- Yahoo
Marijuana generates nearly $1 billion in taxes in Ohio. Now figuring out how to spend it.
COLUMBUS, Ohio (WCMH) — Recreational marijuana sales were made legal a year ago this week and since then, Ohio has collected nearly $1 billion in taxes from those sales. State lawmakers are working to find ways to spend that money. Last week, new legislation was introduced that has lawmakers talking about what would be the most effective way to allocate tax revenue from Ohio's growing cannabis industry. The new legislation, Senate Bill 240, would let counties impose a local cannabis tax and use that money for community, culture, and entertainment projects. Ohio's recreational marijuana sales double medical sales, per daily averages One of the bill's sponsors, Ohio Sen. Hearcel Craig (D-Columbus), said the legislation is an effort to maintain the spirit of what voters passed, referring to 2023's Issue 2. 'Where there are taxing provisions like this one with the arts, that can have meaningful community benefit,' Craig said. 'I think the public could be in agreement with that.' One caveat to Senate Bill 240 is that the taxing provisions would only go into effect if the residents voted for it. 'I think this is an opportunity if the counties and the municipalities, if they choose to do it,' Craig said. A competing bill looks to reallocate 36% of the tax revenue to a general revenue fund. Senate Bill 56 would give lawmakers control of where that money goes. It also calls for further regulations, including decreasing THC levels. Wedding chimes bong for Ohio couple getting married at cannabis festival 'The thought process is to put it in the general revenue, is to make it fluid that we could, you know, there's been proposals out there that we should put a certain percent towards county jails and certain percent to law enforcement training and stuff like that,' Senate Bill 56 sponsor, Ohio Sen. Steve Huffman (R-Tipp City), said. Huffman points out that even though Senate Bill 240 would give voters the option for the additional tax, it may drive marijuana users out of Ohio for their next purchase. 'With all these taxes, we're dancing a very fine line of driving people, one, to the illicit market, and number two, out of state,' he said. 'The current plan with the senate and the house is to keep the tax rate the same, which is 10%, which is important.' Darius Walters is a part of the staff at Nar Reserve, a dispensary. He criticized both bills, citing many users may have different ideas of where that money should be distributed overall. 'Definitely an education and some school fund, roads, any type of community-based scholarship or grant, or for small businesses expand,' Walters said. 'So that the average person, the everyday person, can take advantage of it.' Ohio State soccer player back on field after being shot He also expressed understanding of the process and is hopeful there will be room for lawmakers to come together and reach an outcome that serves everyone. 'There's definitely a happy medium or a balance when it comes to the taxes and them being able to have a general fund for different things because it can't necessarily be a bad thing to at least be able to access the funds,' Walters said. Both Huffman and Craig said they look forward to further discussing both pieces of legislation later in the year. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
05-08-2025
- Business
- Yahoo
Vireo Growth Inc. to Release Second Quarter 2025 Results on August 13, 2025
MINNEAPOLIS, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Vireo Growth Inc. ("Vireo" or the "Company") (CSE: VREO; OTCQX: VREOF), today announced that it will release its financial results for its second fiscal quarter ended June 30, 2025 on Wednesday, August 13, 2025 before the market opens. Vireo Growth management will host a conference call with the investment community that same day, Wednesday, August 13, 2025 at 8:30 a.m. ET (7:30 a.m. CT) to discuss its results. Interested parties may attend the conference call by dialing 1-800-715-9871 (Toll-Free) (US and Canada) or 1-646-307-1963 (Toll) (International) and referencing conference ID number 3718174. A live audio webcast of this event will also be available in the Events & Presentations section of the Company's Investor Relations website and via the following link: About Vireo Growth Inc. Vireo was founded in 2014 as a medical cannabis pioneer—and we've never stopped pushing boundaries. We're building the most disciplined, strategically aligned, and execution-focused platform in the industry. That means staying relentlessly local while leveraging the strength of a national portfolio, backing exceptional leaders, and deploying capital and talent where it drives the most value. Vireo operates with a long-term mindset, a bias for action, and an unapologetic commitment to its customers, employees, shareholders, industry collaborators, and the communities it calls home. For more information about Vireo, visit Contact Information Joe DuxburyChief Accounting Officerinvestor@ 314-8995
Yahoo
01-07-2025
- Business
- Yahoo
Market Growth Fueled by LED Innovations, Automation, and Demand for Quality & Sustainability
Cannabis vertical farming offers key market opportunities through consistent, year-round cultivation, meeting premium and medicinal quality demands. Innovations in tech like LED lighting, AI, and automation enhance yields and efficiency. With urban production, it supports compliance and scalability, crucial for expanding legal markets. Cannabis Vertical Farming Market Dublin, July 01, 2025 (GLOBE NEWSWIRE) -- The "Cannabis Vertical Farming - Global Strategic Business Report" report has been added to global market for Cannabis Vertical Farming was estimated at US$526.4 Million in 2024 and is projected to reach US$1.6 Billion by 2030, growing at a CAGR of 20.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Cannabis Vertical Farming market. As the global cannabis industry matures, cultivators are under increasing pressure to standardize quality, improve yields, and reduce operational risk - all of which are pushing a major shift toward vertical farming. In contrast to traditional greenhouses and outdoor grows, vertical farming offers the advantage of full environmental control, allowing growers to manipulate light, temperature, humidity, and CO2 levels to suit specific strain genetics. This high degree of precision leads to improved cannabinoid profiles, terpene expression, and overall product consistency - key factors in both medicinal and premium recreational markets. What's Fueling The Global Rise Of Cannabis Vertical Farming?The growth in the cannabis vertical farming market is driven by several factors related to technological maturity, evolving end-user needs, market competitiveness, and consumer behavior. The advancement and affordability of energy-efficient LED lighting systems are enabling higher yields with lower power usage, reducing both operating costs and carbon footprints. Increased adoption of automation, environmental sensors, and precision fertigation is allowing growers to reduce labor input while enhancing product consistency and quality. The rising demand for premium, craft, and small-batch cannabis - particularly in mature recreational markets - is encouraging producers to adopt vertical farms for terpene-rich, customized cultivation. In medical cannabis, the need for GMP-compliant, contamination-free, and highly traceable production environments is driving institutional and pharmaceutical adoption of vertical farming infrastructure. Growth in derivative products - such as oils, edibles, topicals, and infused beverages - is fueling demand for consistent, biomass-rich harvests, which vertical farming supports through year-round cycles and optimized genetics. In urban and densely populated areas, vertical farms enable localized production, supporting supply chain efficiency and sustainability goals. Emerging markets with strict compliance requirements, like Germany, South Korea, and Israel, are increasingly mandating indoor cultivation formats, boosting demand for vertical farming systems. Meanwhile, investor interest in high-margin, scalable cultivation models is pushing cannabis startups and MSOs toward vertical farming as a CAPEX-efficient strategy. The convergence of climate resilience, land-use efficiency, automation, and market segmentation is making vertical farming not just an alternative, but a strategic imperative for modern cannabis operations Are Innovations In Tech And Infrastructure Elevating Cannabis Yields Indoors?Cannabis vertical farming is undergoing rapid technological transformation, with innovations in lighting, automation, data analytics, and nutrient delivery reshaping what's possible in indoor cultivation. One of the most critical enablers has been the widespread adoption of high-efficiency LED grow lights, which emit crop-specific spectrums while drastically reducing power consumption and heat output. This allows for denser canopy stacking, better control over plant morphology, and reduced HVAC loads. Precision fertigation systems are being paired with recirculating hydroponics and aeroponics to deliver nutrients exactly when and where they're needed, optimizing uptake and reducing waste. Environmental control systems now utilize AI and machine learning to adjust climate conditions in real-time, improving resource efficiency and crop uniformity. Automation has advanced from simple timers to integrated platforms managing irrigation, lighting, and even robotic harvesting in high-volume facilities. Vertical farms are also increasingly integrated with sensors for real-time tracking of plant health, allowing for early detection of issues like mold, nutrient deficiencies, or environmental stress. At the infrastructure level, modular racking systems, mobile vertical shelving, and aisle-access robotics are improving space utilization and labor efficiency. Remote monitoring dashboards give operators real-time visibility across multiple sites, enabling centralized crop management. Software integration with seed-to-sale tracking platforms ensures regulatory compliance while capturing invaluable production data. These innovations are enabling cannabis producers to scale faster, produce more per square meter, and reduce labor and energy costs - all while delivering superior product quality in tightly regulated End-Use Markets Are Driving Cultivators To Scale Vertical Operations?The expanding range of cannabis end-use applications is a significant force behind the adoption of vertical farming practices. In the medical cannabis segment, where consistency, purity, and strain-specific efficacy are critical, vertical farming provides the pharmaceutical-grade conditions necessary to meet clinical standards and patient trust. Pharmaceutical firms and licensed producers are increasingly seeking cGMP-compliant facilities, and vertical farms are being designed specifically to meet those audit requirements. The recreational cannabis market is also evolving - consumers are demanding not just potency, but flavor, aroma, and terpene richness, all of which can be dialed in more effectively within a controlled indoor environment. As consumer sophistication grows, especially in mature markets like Canada, California, and Germany, the emphasis is shifting toward boutique-quality flower and craft strains - categories best served by small-batch, high-tech vertical grow operations. Beyond flower, there's significant demand in the extraction market, where biomass quality impacts oil yield, flavor, and cannabinoid content. Edibles, vapes, and wellness products depend on high-quality input material, and vertical farms are increasingly used to standardize biomass output. In emerging markets such as Asia-Pacific and Latin America, governments are issuing medical licenses with strict controls - favoring indoor vertical facilities for traceability and contamination control. The CBD segment is also driving growth, particularly in Europe and Asia, where cosmetics and wellness brands require pesticide-free, standardized biomass. As cannabis diversifies into beverage infusions, pet supplements, and functional foods, vertical farming is becoming the preferred method for ensuring consistent, pharmaceutical-grade supply that can serve both mainstream and niche product Insights: Market Growth: Understand the significant growth trajectory of the Shipping Container Structure segment, which is expected to reach US$1.0 Billion by 2030 with a CAGR of a 23.6%. The Building-based Structure segment is also set to grow at 15.5% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, estimated at $138.4 Million in 2024, and China, forecasted to grow at an impressive 19.0% CAGR to reach $242.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific. Report Features: Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of players such as AeroFarms, AG Glide, Agro Lighting, Bowery Farming, CubicFarm Systems Corp. and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments. Scope of Study: Segments: Structure (Shipping Container Structure, Building-based Structure); Component (Vertical Farming Hardware, Vertical Farming Software, Vertical Farming Services); Growing Mechanism (Hydroponics Mechanism, Aeroponics Mechanism, Aquaponics Mechanism); Application (Recreational Cannabis Application, Medical Cannabis Application, Research and Development Application, Other Applications) Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World. Key Attributes: Report Attribute Details No. of Pages 198 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $526.4 Million Forecasted Market Value (USD) by 2030 $1600 Million Compound Annual Growth Rate 20.3% Regions Covered Global Key Topics Covered: MARKET OVERVIEW Influencer Market Insights Tariff Impact on Global Supply Chain Patterns Cannabis Vertical Farming - Global Key Competitors Percentage Market Share in 2025 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E) MARKET TRENDS & DRIVERS Rising Demand for Space-Efficient Cannabis Cultivation Driving Vertical Farming Adoption Controlled Environment Agriculture Improving Yield Consistency and Quality Integration of Automation and Robotics Streamlining Cultivation Operations LED Lighting Innovations Enhancing Cannabinoid and Terpene Profiles Reduction in Water and Resource Usage Supporting Sustainability Goals Urban Cultivation Demand Boosting Interest in Indoor Vertical Cannabis Farms Scalability of Stackable Systems Enabling Micro and Large-Scale Production Data-Driven Cultivation Techniques Optimizing Plant Health and Output Regulatory Support for Indoor Growing Enabling Year-Round Production Hybrid Models Combining Hydroponics and Aeroponics Gaining Traction Rise of Smart Farming Platforms Integrating IoT for Monitoring and Control Increased Investor Interest in High-Tech Grow Facilities Accelerating Adoption Partnerships With Equipment Manufacturers Driving Technology Access Localized Production Models Reducing Transportation Costs and Carbon Footprint Expansion of Craft Cannabis Brands Emphasizing Quality Through Vertical Cultivation FOCUS ON SELECT PLAYERS:Some of the 34 companies featured in this Cannabis Vertical Farming market report AeroFarms AG Glide Agro Lighting Bowery Farming CubicFarm Systems Corp. Elevate Farms Inc. Freight Farms Glass Pharms Ltd Green Spirit Farms GrowGeneration Corp. Hydrofarm Holdings Group, Inc. iFarm Infinite Acres Kalera MedMen Enterprises Inc. MMI Agriculture Pipp Horticulture Plenty Unlimited Inc. Spacesaver Corporation TotalGrow Lights For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Cannabis Vertical Farming Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
29-06-2025
- Politics
- CNN
‘It's really hitting me:' Thai dispensary reacts to country's new cannabis rules
Three years since Thailand became the first country in Asia to decriminalize cannabis, the government this week imposed new rules designed to rein in the country's 'green rush.'
CNN
29-06-2025
- Politics
- CNN
‘It's really hitting me:' Thai dispensary reacts to country's new cannabis rules
Three years since Thailand became the first country in Asia to decriminalize cannabis, the government this week imposed new rules designed to rein in the country's 'green rush.'
