Impact Of Potential Legal Marijuana On Humboldt Economy: Part I
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Impact Of Potential Legal Marijuana On Humboldt Economy: Part I

Jennifer Budwig analysis of the economic impact that legal marijauna could have for Humboldt County California

I recently attended Pacific Coast Banking School. As part of the program, participants were required to write a management paper. We were able to choose our own topic but it had to relate to either the banking industry or our individual bank. I chose the topic of marijuana legalization and what the potential economic impact to Humboldt County could be if this happens. This is a question that is increasingly being asked by local businesses and residents. The probability of legalization has continued to increase, which is anticipated to lead to mass production of the plant. This additional supply will further drive down prices and minimize profits to producers. A significant amount of black market dollars are spent locally which, in turn, support businesses, employment, and a large part of the county’s infrastructure.

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