March proved to be yet another exciting month for the flourishing cannabis industry, with no shortage of breaking news keeping the community buzzing. This month, there was talk of excellent progress made on the front lines of state legalization efforts, new educational and career opportunities in cannabis, and the first-ever SXSW cannabis-focused panel schedule. Here’s everything you need to know about marijuana news for the month of March:
 

New Jersey Leaders Come to Agreement on Adult-Use Cannabis Bill

After over a year of negotiations, New Jersey Governor Phil Murphy and his fellow legislative leaders have finally reached an agreement for moving forward with legalizing recreational marijuana use. While most of the discussion took place behind closed doors, it was generally understood that the year-long conversation involved plenty of back and forth about how – and how much – to tax the cannabis industry.

As of March, Governor Murphy, Assembly Speaker Craig Coughlin, and Senate President Steve Sweeney issued a statement regarding their plan to propose legislation for the legalization and taxation of recreational marijuana. The plan outlines a $42 per ounce tax on recreational cannabis. Municipalities that house cannabis retailers would administer a 3 percent tax, those that host cultivators would receive a 2 percent tax, and those with cannabis wholesalers would collect a 1 percent tax. In addition to taxation, the legislation also calls for the establishment of a five-person regulatory commission, as well as specific provisions to encourage women- and minority-owned cannabusinesses.
 

November’s Midterms Pave the Way for Potential Legalization in Illinois

Despite the fact that Michigan led the Midwest in the legalization of recreational cannabis, its fellow Heartland state seemed like it would be stuck in marijuana limbo forever. The former Governor Bruce Rauner was a staunch opponent of legal recreational cannabis in Illinois, despite several leading legislators leaning in favor. However, the 2018 midterms welcomed new governor J.B. Pritzker in a landslide victory, potentially setting the stage for a major shift.

Pritzker has openly stated that he supports legalizing recreational cannabis, highlighting the economic potential associated with making the move. He believes legalizing recreational use could bring in upwards of $1 billion every year, changing the state budget dramatically for the better. While there’s no sure sign yet of new legislation, Illinois House Speaker Michael Madigan has said he supports Governor Pritzker’s plan. Currently, there are more than 50 medical marijuana dispensaries across the state, with countless other cannabusiness waited with bated breath for potential recreational legalization in the near future.
 

Alaska Moves One Step Closer to Allowing On-Site Consumption

Alaska’s State Department of Law raised no issues with the regulations recently approved by marijuana regulators, solidifying the legality of the rules that are intended to govern how and where on-site cannabis consumption takes place. Now, all eyes are on Lt. Governor Kevin Meyer, whose signature will finalize the new regulations.

The plan is to allow on-site consumption at specifically authorized stores, opening the door for close to $2.5 million in new revenue for the state. If the rules are approved by Lt. Governor Kevin Meyer, they could become effective within 30 days after being filed. At that point, cannabusinesses will be required to apply for an on-site use endorsement in order to achieve approval, outlining plans according to specific ventilation, security, and other standards. Any interested business will also be required to receive a passing grade from Alaska’s Marijuana Control Board before being moving forward in the process. Some industry leaders expect the first on-site consumption businesses to earn approval as early as this summer.
 

The 2019 SXSW Festival Promotes its First-Ever Cannabis Line-Up

World-famous conference SXSW announced an impressive line-up of cannabis-focused panels and speakers, raising the bar for cannabusiness conferences everywhere. Nearly 50 panels, one-on-one sessions, and keynote speakers were scheduled to address a wide range of marijuana topics, touching on everything from the science of cannabis to marijuana culture.

This is the first time SXSW explored the world of cannabis, devoting three full days and welcoming cannabis advocates, scientists, entrepreneurs, and more. From March 14th to the 16th, the cannabusiness track at the Austin festival delved into conversations such as the future of cannabis scientific categorization, tech culture and cannabis, and the facts on CBD. In addition to being the first SXSW track of its kind, the three-day span earned attention for featuring a diverse selection of panelists and viewpoints.
 

More than 200,000 Jobs Sprouting in the Cannabis Industry

Despite the Bureau of Labor Statistics dismissal of cannabis-related job statistics (since marijuana remains federally illegal), analysts at Whitney Economics have highlighted the jaw-dropping impact of cannabis on the job market. As of 2019, about 211,000 new full-time jobs have been created by the marijuana industry, giving a much-appreciated boost to the U.S. job market. More than 64,000 of those jobs were added in 2018 alone, earning the marijuana industry the title of the most significant source of new jobs in America.

In 2017, the cannabis workforce jumped 21 percent, growing another 40 percent in 2018. All predictions for 2019 are similarly optimistic, with some experts expecting a 20 percent growth rate. Added together, those stats illustrate a 110 percent rate of growth in the cannabis employment market over the past three years.
 

Cannabis-Focused College Degrees Become More Widely Available

While selecting cannabis as a college major might sound like a joke-worthy study track, you might be surprised to learn just how challenging – and increasingly popular – cannabis-related degrees are becoming. Across North America, more and more colleges are making cannabis a part of the curriculum, seeking to support students in a world where marijuana is an increasingly viable career path.

At Northern Michigan University, medicinal plant chemistry is a four-year degree program that’s drawn students from nearly all 50 states. Other colleges, such as Minot State University in North Dakota, are adding their own version of the highly successful program. Many offer varying tracks for students to choose from, including the option to study the entrepreneurial or bioanalytical sides of cannabis. As both medicinal and recreational marijuana use expands across a growing number of states, experts predict that the number of cannabis-centered college study programs will only continue to grow.
 

Trust Herban Planet for All Your Cannabis Industry News

Every month, Herban Plant takes the time to round up all the top cannabis news stories, so you can spend less time searching online and more time knocking out your marijuana business goals. Instead of trying to stay on top of the ever-evolving industry on your own, let Herban Planet keep you in the loop. Check in with us every month for our cannabis industry wrap-ups, where you’ll find all the latest news in one easy-to-read report. Here, it’s easy to stay informed and turn your cannabusiness dreams into a reality.