Marijuana Business Factbook 2019

33 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM SUMMARY What to watch in 2020 Alaska regulators have adopted several business-friendly measures, including a revision of how the state taxes wholesale cannabis and rules for on-site consumption of marijuana at some retail cannabis shops, thus giving Alaska the distinction of being the first state to approve social consumption sites. The state’s Marijuana Control Board approved applications for on-site consumption venues in Fairbanks and the Ketchikan Gateway Borough. Voters in Anchorage will decide April 7, 2020, whether to allow cannabis smoking in retail locations throughout the city. Marijuana Business Opportunity Rank for 2020 B+ Alaska’s recreational marijuana industry continues to grow at a robust rate. Cultivators in the state are on pace to sell 40,000 pounds of cannabis to processors and retailers, a 40% increase from 2018. Although the amount of retail marijuana stores relative to the potential customer base is already quite high, business opportunities―especially in the infused product space― still exist. Compared to cultivators and distributors, the number of infused product manufacturers is extremely low, leaving room for new players. Furthermore, product selection is limited in the edibles and concentrates space. The recent approval of on-site consumption has the potential to further boost sales, especially in tourist-heavy areas of the state.