As more and more states consider implementing a regulated cannabis atmosphere, Atlantic City Mayor Frank Gilliam and a few New Jersey lawmakers visited Las Vegas last week to research the city’s current regulation of medicinal and recreational use. Their goal is to create a plan that would benefit a currently turbulent Atlantic City financial economy.
Atlantic City and Las Vegas are completely different but are similar in having controlled gaming laws. This is why Mayor Frank Gilliam and other New Jersey lawmakers are looking to Nevada for their current cannabis laws. They are hoping to gain an understanding of how to implement a program in Atlantic City that can be adapted to the entire state of New Jersey. Gilliam stated ”I think Atlantic City would be a good fit for it.”
Gilliam is not the only official interested in the benefits of implementing a legalized cannabis program in NJ. Gov. Phil Murphy is also in favor of legalizing cannabis and has brought up the proposal which could bring in an estimated $300 million in revenue. An executive order was signed by Murphy earlier this year to review the current medical marijuana program in attempt to lessen current regulations. Gilliam and Murphy both recently spoke about the possibility of implementing legal recreational cannabis. They agree that it can benefit the economy along with the community from a social and criminal justice angle.
The fact-finding trip was coordinated by the New Jersey Cannabis Industry Association along with the Nevada legislature in hopes of finding a basic template on regulating cannabis in a similar resort city. The New Jersey Cannabis Industry Association as stated on their website… “is a nonprofit trade association dedicated to advancing the legalization of cannabis.” Atlantic City was one of the first cities outside of Las Vegas to have legalized casino gaming so implementing and regulating legalized cannabis could be an economic boost for the city. Mayor Frank Gilliam was so positive that legalizing cannabis would “jump-start” economic growth in New Jersey’s unstable financial economy that he paid for the trip out of his own pocket. “The key for me is to get more knowledge on how they rolled out the process and understand the pros and cons,” Gilliam stated. “They have gaming like we do, so I want to figure out how those things coexist, and figure out to make it work for Atlantic City.”
The position held by New Jersey officials looking to legalize cannabis is good news for entrepreneurs as well. Many are eagerly awaiting Gov. Phil Murphy and the New Jersey state legislature to follow through on their promises of legalizing cannabis for adults. This will open the doors of opportunity to create financial windfalls that both the state and many entrepreneurs are seeking.
By Tracy Jerome Chisley (@PoeticPanther)
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