California Department of Fish and Wildlife allocated over $20 million to help cannabis farmers restore and conserve their properties and become fully licensed, according to local media.
The Cannabis Restoration Grant Program funds projects such as upgrading road crossings, cleaning up illegal grow sites and conserving water resources. Most environmental problems are found at unlicensed cannabis grows, including water diversion, habitat destruction, pesticide use, wildlife poaching and trash near waterways, said program director Amelia Wright.
According to Casey O'Neill, who owns HappyDay Farms in Mendocino, farmers are encountering challenges as they try to understand and comply with the requirements of the California Environmental Quality Act.
How Are California's Legal Weed Sales Doing?
After having eliminated the cannabis cultivation tax as of the 3Q of 2022, the state received $221 million in tax revenues from legal sales in 4Q, down $330.5 million in the period of the previous year. The Tax and Fee Administration Dept. recently revealed data showing that customers bought $5.3 billion in legal pot products in 2022, which represents an 8% drop or decrease of $473 million from what customers purchased in 2021.
Meanwhile, a new report from the California Department of Cannabis Control (DCC) indicated a significant improvement in enforcement against illicit marijuana operations in the state over the past two years.
The report showed a 150% increase in search warrant operations, a 246% increase in seizures of illegal weed, and a more than threefold increase in arrests in 2022. Seizures of illegal cannabis in 2022 reached $243 million, a 211% increase from the previous year.
The Benzinga Cannabis Capital Conference Is Back!
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A start, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now before prices go up.
Image Credits: 12019, greenserenityca by Pixabay Edited By Benzinga
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.