Will New York Become The New Cannabis Capital?
The cannabis market in New York is estimated to be worth billions, and corporations there are already working steadily to increase operations to meet the demand they are anticipating in NJ and NY.
Some say that NY could be the new cannabis capital of the country.
A number of restaurant owners in the area are reportedly already looking forward to operating near those cannabis businesses and hoping to cater to their clients that visit the retailers.
In New York it is estimated that adult use cannabis sales could surpass $4.6 billion in annual sales.
Right now the cannabis industry in NJ and NY continues to expand because they are anticipating to see crazy demand now that cannabis businesses are establishing legal markets there.
In New York there are already hundreds of cannabis growers, and a number of them already have medicinal licenses to provide. They've got a significant hemp market in the region too. But the market isn't going to come without a web of restrictions and it isn't going to be easy for just anyone to get involved in these sorts of exchanges.
Will we see cannabis restaurants and consumer lounges? drive thru operations? Delivery? Cannabis hotels and other services? It's going to take years for that market to diversify and for us to see what is or isn't going to be allowed to be tested there.
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It would be nice to drive up tourism and maybe stimulate local business growth but the way how New York City officials have been running NYC, its more likely that people would rather flee to a different cannabis friendly state in general. Of course, this isn't including the possibility that other counties and cities in New York may improve considerably as the urban jungle (NYC) continues to lose influence in the North East.