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When Oregon became the third state in the United States to legalize recreational marijuana use, proponents envisioned a double dose of green.
Residents were given a chance to light up legally, finally bringing the state’s underground cannabis culture out of the shadows.
Savvy entrepreneurs enjoyed an opportunity to cash in, constructing a new economic sector from the ground floor.
And for years, business boomed — marijuana sales surged past $1 billion, flooding state coffers with hundreds of millions in tax dollars and creating 20,000 jobs across the state.
Nowadays, Oregon boasts twice as many cannabis shops as Starbucks coffeehouses.
But a decade into Oregon’s grand, green experiment, the business of marijuana has reached a crisis.
Industry heavyweights are abandoning the state, walking away from billion-dollar investments. Homegrown businesses are struggling to pay bills and taxes. Insiders are worried about the economic viability and future of the industry.
How did we get here? What are pot proponents doing to fix the problem?
And what will the future of Oregon’s cannabis business look like?
On the latest episode of Beat Check, Mike Rogoway, who covers Oregon technology and the state economy for The Oregonian/OregonLive, details the highs and lows of one of Oregon’s most unique industries.
Related reading:
• Marijuana prices hit record low: Oregon’s supply is nearly double demand
• Oregon’s cannabis economy is a wreck: ‘Everybody would say it’s in a crisis’
— Joe Freeman is a senior writer at The Oregonian/OregonLive. Reach him at 503-294-5183, @BlazerFreeman or @freemanjoe.bsky.social
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