Producing and distributing cannabis in Grover Beach is about to be more pocket-friendly thanks to a new drop in commercial cannabis tax.
The Grover Beach City Council unanimously greenlit the plan at its meeting on October 25th to attract businesses in the cannabis industry to the beach city. Grover Beach's cannabis industry has been expanding ever since its first legal marijuana business opened in May 2018. In fiscal year 2020-21, the city raked in $2.4 million in cannabis revenue, which is a major leap from the $16,359 the fledgling industry generated that first year.
The sector pulls in 15% of the city's general fund revenue - the third largest source in the city. Currently, Grover Beach has 29 authorized cannabis businesses, 12 of which are operational.
"We have continued to be cautious with these revenues because it's a new industry that has significant uncertainty as we go forward," Grover Beach City Manager Matthew Bronson said at the meeting. "The illegal underground market is still in too strong of a position for us and other communities."
Read more at newtimesslo.com