Build a Business Framework for the Recreational Use of Cannabis

It is clear that attitudes towards cannabis are changing at home as well as abroad: we can foster a new industry, increase employment and boost economic activity all at the same time. The legalisation of the recreational use of cannabis, if done as a full industry model will indeed create jobs, boost imports of technical equipment, and will also engender a new tax-revenue stream for the island.

We should consider all the positive economic benefits that will accrue in the private sector, but primarily an entirely new industry will need to hire employees. Growers, dispensaries, security, and delivery services will all need to scale up. Within the civil service there will be a need to create new roles for licensing, inspectors and technical experts.

Additional economic gains will be realised as the current best model, indoor grows will require technical equipment such as high-end LED lighting and fertigation systems. Further, the processing of oils and concentrates will add to the import of technical equipment and educational requirements. Imports of trays, packaging, fertilizers etc will all need to ramp up.

This additional economic activity will obviously come with opportunities for the government to impose import duties, payroll taxes, sales tax etc. Less obvious is the future demand for specialised education (Bermuda College) for the requisite growers, processors and other staff.

Further, we don't have to re-create the wheel: we already have respectable jurisdictions with established cannabis industries to emulate: e.g. California & Canada to name just two.