Thursday, July 12, 2018

Entrepreneur: Marijuana could be a billion-dollar industry

 Hepburn-Marshall thinks The Bahamas could be a poster child for black ownership in the industry

 Proper Rx Collective CEO Elliot Hepburn-Marshall contends that because The Bahamas attracts close to six million visitors per year, if medical and recreational marijuana were given the green light the country could bring in close to $1.5 billion.

By Chester Robards

Medical and recreational marijuana could be a billion-dollar industry in The Bahamas, given the country’s multimillion count of visitors per annum, according to Elliot Hepburn-Marshall, president of Bahama Cann and CEO of Oakland, California-based Proper Rx Collective, which delivers medical marijuana to patients. He told Guardian Business on Monday that if marijuana was given the green light today in The Bahamas it would take 1.5 to two years before the industry could be viable.

Hepburn-Marshall, who hails from Grand Bahama but moved to California to pursue his business, was refuting the Report of the CARICOM Regional Commission on Marijuana 2018, which states that The Bahamas could see a financial benefit of about $5 million from the legalization of marijuana and regulation of its sale and use. Hepburn-Marshall said the population of The Bahamas is quite close to that of Oakland, California, where he runs his business. In Oakland, before recreational use of marijuana was allowed by the state, medical marijuana sales were bringing in a little less than $1 billion, according to Hepburn-Marshall.  Read more >>