Costa Rican Officials Visit Colorado for Medical Cannabis Insights

Ryan Allway

September 25th, 2015


A group of Costa Rican representatives will travel to Denver, Colorado in October to see first-hand the results of the medical cannabis industry, according to The Costa Rican Star.

With the Central American country considering medical marijuana legislation this year, the officials plan to meet with medical cannabis business owners, as well as city and state officials overseeing the system to gain insight into the state’s successful rollout. These meetings were facilitated by the Council on Responsible Cannabis Regulation.

“We are honored to be a part of this historic trip,” said TD Morales of the Cannabis Industry Association of Costa Rica to the Star. “Allowing Medical Marijuana in Costa Rica will not only help thousands of people on the medical side, it will start a completely new Cannabis Industry in Costa Rica. This will bring thousands of new job opportunities and millions of colons in new tax revenue to Costa Rica.”

Earlier this month, Colorado officials announced $73.5 million in cannabis-related taxes so far in 2015, putting the state on track to make over $125 million from its 2.9% retail and medical marijuana sales tax, 10% retail marijuana special tax, 15% marijuana excise tax, and application and licensing fees for distributors. These figures are significantly higher than the $76 million that the state brought in during 2014 from marijuana taxes.

“This new industry would be driven by and for Costa Ricans,” added Mr. Morales. “Costa Rica does not need a huge Multi-National firm to make an investment for new jobs to be created, these jobs will be created from within the new Cannabis Industry. Every state in the US and other countries around the world that have authorized the use of Medical Marijuana has seen explosive growth and the same will happen in Costa Rica.”

Ryan Allway

About Ryan Allway

Mr. Allway is an experienced financial writer with years of experience in the capital markets.

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