Pubdate: Wed, 19 Aug 2015
Source: Colorado Springs Independent (CO)
Column: CannaBiz
Copyright: 2015 Colorado Springs Independent
Contact:  http://www.csindy.com
Details: http://www.mapinc.org/media/1536
Author: Bryce Crawford

PUEBLO COUNTY IS PRIME POT-GROWING TERRITORY, AND MORE.

Prospering in Pueblo

Former Westword reporter Joel Warner dropped a compelling look at 
marijuana in Pueblo County these days in the Aug. 17 issue of High 
Country News. You can read the whole thing at bit.ly/1K2HMpK, but 
here are some highlights:

Colorado Springs developer Mark Morley, 55, is building several 
outdoor grows on 30 acres he owns east of Pueblo that will yield some 
14,400 plants. "If he planted corn on this land, each acre would 
require approximately 2.2 acre-feet of water per year and produce 
$768 in annual sales ..." Warner writes. "That same acre planted with 
marijuana would require roughly 2.65 acre-feet of water - and gross 
Morley $6 million."

Some 50 companies are approved to operate in the county, spurred by 
the unprecedented support of the Pueblo County commissioners. "The 
county has also issued pioneering rules that prohibit hemp grows with 
male plants from being located within five miles of existing 
marijuana grows," the story notes. "This prevents cross-pollination 
that could lower the marijuana plants' THC content while increasing 
THC in the hemp, which can't exceed 0.3 percent under state law."

In 2014, Pueblo County made $1.8 million in licensing fees and taxes. 
In the private market, one local Realtor says real estate prices for 
industrial properties have nearly doubled to $50 per square foot of space.

There's been a downside: "Marijuana-related crimes, including the 
2014 armed robbery of a marijuana shop, have increased, according to 
Undersheriff J.R. Hall." Local shelters and nonprofits have been 
"flooded," Warner writes, with people relocating to Pueblo for pot.

Record rec sales

Colorado saw its recreational-marijuana sales continue to soar as 
June totals came to $50.1 million. That included the largest 
month-over-month increase from May to June, when sales jumped by $7.6 
million, reports the Denver Post. Medical-marijuana sales also hit a 
new high of $35.2 million.

Year-to-date, the state of Colorado has collected $60.7 million in 
all marijuana-related taxes. El Paso County brought in $197,835 in 
June medical-cannabis taxes, up from $189,852 in May, according to 
state reports.

Colorado banking support

An update from the Southern Colorado Cannabis Council says there's 
some hope of federal action on new banking regulations, which would 
remove the overflowing-with-cash element by allowing banks to work 
with the industry. "First the good news," says executive director 
Jason Warf in an email. "Colorado Congressman Ed Perlmutter 
introduced [the Marijuana Businesses Access to Banking Act of 2015] 
and has 29 cosponsors including Reps. DeGette, Coffman, and Polis. .. 
The bad news is that we still have three Colorado Congressmen, 
Lamborn, Buck and Tipton, who have not yet supported cannabis 
industry banking reform."
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MAP posted-by: Jay Bergstrom