Marijuana Could Become Nevada’s Top Cash Crop

Medical marijuana could become Nevada’s most lucrative crop due in large part to the plant’s relatively light water requirements.

Dale Devitt, a professor at UNLV, told the Las Vegas Review-Journal that medical marijuana’s high retail price and relatively low water requirements will put it ahead of alfalfa farming and even golf course operations in terms of profitability per acre-foot of water.

Alfalfa earns $100 profit per acre-foot of water, while golf courses earn $5,000-$7,000 per acre-foot of water.

Devitt did not give a profit figure for marijuana cultivation but said the plant’s high value would “justify the use of water in the desert.”

“They’re going to make a lot of money using (a) very little amount of water,” Devitt said.

Terra Tech, a publicly traded firm that has applied for a cultivation license in Clark County, estimates that it can produce 75 pounds of marijuana each week at its 50,000 square-foot facility. That would yield between $15 million to $25 million in annual sales, according to Terra Tech CEO Derek Peterson.

Production costs, Peterson said, would eat up about 35% of his sales.

Peterson is planning to use a hydroponics system, which could limit his water usage. Still, he predicts he will use 330,000 gallons of water each year.

2 comments on “Marijuana Could Become Nevada’s Top Cash Crop
  1. Jimmy Limo on

    What with legal gambling and legal prostitution (TECHNICALLY not legal in Vegas, but hookers are a phone call away)… Sin City would be CRAZY to not legalize recreational cannabis ! They complain that the economy has TANKED in Las Vegas… so LEGALIZE it and let the gamblers smoke JOINTS next to all those TOBACCO smokers in the casinos. Anything less would be hypocritical !

    Reply
  2. linda warren on

    Cash-Crop!!!!!!Money flows in the drought zone…Good work on the professor…We need science and economic analysis…not fear…!!!LW

    Reply

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