Oregon Secretary of State Shemia Fagan announced Monday she has resigned from her $10,000-a-month consulting side job and tearfully apologized for her “poor judgment” in moonlighting with a politically-connected cannabis company regulated by a state agency her office was auditing. Fagan also released a copy of her contract with Veriede Holding LLC, an affiliate of La Mota … [Read more...] about Fagan apologizes and resigns from her cannabis consulting job
Oregon
Audit: Marijuana-rich Oregon must prep for US legalization
SALEM, Ore. (AP) — Oregon should prepare for the U.S. government eventually legalizing marijuana and position the state, with its huge stockpiles of the drug, as a national leader in the industry, state auditors said Friday. Oregon, long known for its potent marijuana, would be competing with other pot-producing states — particularly California, which also has a vast oversupply … [Read more...] about Audit: Marijuana-rich Oregon must prep for US legalization
Cannabis trade among states urged as producers struggle
A 30% off on Thursdays sign is displayed outside Preserve Oregon, a marijuana shop in Salem, Ore., on Jan. 31, 2023. Along the West Coast, which has dominated U.S. marijuana production from long before legalization, producers are struggling with what many call the failed economics of legal pot...a challenge inherent in regulating a product that remains illegal under federal … [Read more...] about Cannabis trade among states urged as producers struggle
State line pot shops latest flashpoint in Idaho-Oregon border debate
ONTARIO, Ore. — When Steven Meland and his business partner opened up Hotbox Farms in the small eastern Oregon city of Ontario they knew there was a big opportunity lying just across the Snake River. Ontario, population 11,600, is less than an hour's drive from Idaho's largest metro area, Boise, population 700,000 and growing, where marijuana of all kinds - including medical - … [Read more...] about State line pot shops latest flashpoint in Idaho-Oregon border debate
Oregon cannabis businesses struggle to survive amid record-low prices
Businesses across the recreational cannabis industry in Oregon are facing some of the worst economic conditions since marijuana was legalized over seven years ago. The average price per gram of marijuana has fallen to $4, a record low according to a recent state budget forecast. TJ Sheehy is the director of analytics and research at the Oregon Liquor and Cannabis Commission. … [Read more...] about Oregon cannabis businesses struggle to survive amid record-low prices
Amid Generally Strong Tax Receipts, Recreational Cannabis Tax Receipts Lag
State lawmakers got generally good news in the quarterly revenue forecast released last week: Higher-than-forecast tax receipts are giving them more money to spend. “Personal and corporate tax collections continue to outstrip expectations,” state economists Mark McMullen and Josh Lehner wrote Feb. 22. “The unexpected revenue growth in the current biennium has left Oregon with … [Read more...] about Amid Generally Strong Tax Receipts, Recreational Cannabis Tax Receipts Lag
OLCC expands recall of cannabis vape products
PORTLAND, Ore. (KTVZ) – The Oregon Liquor and Cannabis Commission said Tuesday it is expanding the recall of cannabis vape products that was initially noticed on January 12th. OLCC investigators have determined that three additional production batches of cannabis vape cartridges appear to contain prohibited additives. The expanded recall includes vape cartridges that have been … [Read more...] about OLCC expands recall of cannabis vape products
Oregon Cannabis Industry in ‘Weakest Economic Position’ Since Launch in 2016
The recreational cannabis industry in Oregon is in its “weakest” economic position since the legal market launched in 2016, according to a new report released by state regulators. The report, released last week by the Oregon Liquor & Cannabis Commission, detailed that, after a “banner sales year” in 2020, cannabis producers in the state “entered 2021 exuberant and … [Read more...] about Oregon Cannabis Industry in ‘Weakest Economic Position’ Since Launch in 2016
Curaleaf cannabis company to shut down operations in Oregon
PORTLAND, Ore. — Recreational cannabis product maker Curaleaf announced Thursday that it plans to wind down "the majority" of its operations in Oregon, Colorado and California, as well as consolidate its facilities in its home state of Massachusetts. The company described the decision as a financial one in a Thursday news release, stating that the states have contributed to the … [Read more...] about Curaleaf cannabis company to shut down operations in Oregon
Data Bank: Oregon cannabis jobs trimmed as prices and harvest declined
In five short years from 2016 to 2021, Oregon's new recreational cannabis industry went from zero to approaching 10,000 employees, though many workers transitioned from the existing medical marijuana market. Employment has since retreated as demand failed to absorb a glut of supply and producers that in turn, reduced output. The latest figure for the second quarter of 2022 … [Read more...] about Data Bank: Oregon cannabis jobs trimmed as prices and harvest declined
