New Mexico Legalized Cannabis a Half Billion Dollar Industry

Legalized cannabis industry in New Mexico to create new jobs, unprecedented annual revenues

(Albuquerque) – A recent economic report produced by Kelly O’Donnell, Ph.D., of O’Donnell Economics and Strategy found the legalized cannabis industry in New Mexico would total $412.5 million in annual revenues after the first year of implementation and $677.7 million by 2021.

The report, commissioned by Ultra Health® with support from the Drug Policy Alliance, Rio Grande Foundation and a consortium of industry advocates, also found that legalized cannabis would create more than 11,400 jobs – 6,600 in the direct cannabis industry and 4,780 in ancillary positions.

"Legalizing cannabis could have a profound effect on New Mexico’s economy and help fill New Mexico’s yawning budget gap,” Dr. O’Donnell said. “But to achieve the benefits of a robust cannabis market, state policymakers must insist on common sense regulation and sound tax policy.”

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Medical Cannabis Should Be New Mexico True Certified

Recently the New Mexico Tourism Department decided to launch its New Mexico True Certified program, highlighting products that are “uniquely New Mexican.” While this is a great program, it is limiting its success by denying access to one of the state’s most promising products.

It’s green. And no, it’s not chile.

The program requires all plant and nonmeat agricultural products to be 100 percent produced in the state with traceable documentation to where it was grown. Ultra Health products fit this requirement, as its high quality, medical grade cannabis and other products infused with medical cannabis are grown and produced at its cultivation center in Bernalillo.

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SALUD: New Mexico Needs to Adequately Fund Medicaid

New Mexico is experiencing vast budget shortages stemming from a historically limited private sector economy and lower than expected oil and gas revenues. Rarely, if ever have the state coffers been sufficient to fully fund the programmatic needs for improved education, a stronger justice system and expanded but needed healthcare. Of the three largest budget demands, only one is both a true economic and social positive multiplier to the improved well-­‐being of the state’s individual residents and the overall state wide economy: Medicaid. New Mexico is in an envious position of being able to obtain $3 in Federal match for each $1 the State provides. Likewise, every single dollar cut from the Medicaid program results in a combined $4 dollars less being released into our communities for hospitals, caregivers, medicines, healthcare workers, behavioral health services and those who often time care for our most vulnerable populations: single parents, children, working poor, chronically ill, the aged or disabled.

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