This week, the US National Cannabis Business Association held the 6th Annual Cannabis Business Summit & Expo in San Jose, California. Over 10,000 attendees visited 400 exhibitors and heard from 150 speakers discussing cannabis regulation, legalization and production.
The industry continues to face many challenges, including federal laws restricting business. But public opinion has changed - more than 60 percent of Americans support legalization, which means business is booming. Colorado and Washington have made over a billion dollars in pre-sales. California is even bigger - closer to three billion. Even Alaska generated about $ 40 million in sales.
But working with hemp is inherently difficult. Subtle differences in lighting, humidity, nutrition, and even water purity have an incredible impact on your overall yield. The San Jose exhibition showcased cutting-edge technologies that are designed to exponentially improve crop production and processing, and impact the entire process from growing to production through distribution.
This industry is experiencing the type of entrepreneurship that occurs when you take a previously identified market and open it up for business. It also opens up a new job market.
Next year, the summit moves to San Francisco. But if 2019 is any indication, the show and the industry it supports will only continue to grow.
