Tag: Vermont

Vermont’s cannabis companies are ineligible for federal disaster aid for losses caused by flooding in the state last week, VT Digger reports. During a press conference Monday, Carl Dombek, public information officer for the Small Business Administration, said the agency has to “follow federal law” and because cannabis is a Schedule I drug at the federal level, the agency is “not able to lend to cannabis dispensaries.”  Chelsey Smith, Federal Emergency Management Agency (FEMA) individual assistance branch director, told VT Digger that… Read more.

Now that most of New England has legalized cannabis in some form or another, it’s worth looking at which states are the largest markets. While the smaller states with the least population are expected to be the ones with the lowest total sales, the largest state – New York is lagging. In just five years, Massachusetts has become the leader in the region having reached the billion mark in just two years. New Jersey is in second place, but quickly… Read more.

Vermont lawmakers held a committee hearing on Thursday where members discussed legislation to legalize psilocybin and take first steps toward providing regulated access to the psychedelic. Members of the House Judiciary Committee took up H. 371 from Reps. Chip Troiano (D) and Brian Cina (D), who said he’s personally benefitted from using psychedelics. There seemed to be agreement among members about the overall merits of the proposal, but the panel’s chairman said that “we’re not going pass this out this… Read more.

Lee Stowell worked on Wall Street selling high yield junk bonds for 25 years before deciding to return to her native Vermont with her six children in March 2020 to take over a medical cannabis operation in Brandon, called Grassroots Vermont. "I wanted to get back to Vermont," Stowell said in a recent interview. "I built my house 15 years ago, but I didn't move up here permanently until Covid hit." Stowell built her house on Goodsell Point on Lake Champlain… Read more.

Ben & Jerry’s Ice Cream co-founder Ben Cohen has launched a cannabis brand called Ben’s Best Blnz, or B3, and the company’s profits will be used for social benefit, according to a Fast Company report. The product line includes low-THC products including pre-rolls and vape options.   B3 is a registered non-profit and 80% of the company’s profits will be administered in partnership with NuProject as grants to Black cannabis entrepreneurs. Another 10% will go to the Last Prisoner Project, and 10% will be donated to the Vermont… Read more.

Vermont cannabis retailers sold about $5.7 million worth of cannabis products in January. Cannabis sales in Vermont reached $5.7 million in January, according to Agency of Administration data released last week. The state collected more than $1 million in tax revenues from cannabis sales.   Vermont collected $799,102 from the 14% excise tax on cannabis sales and $342,472 from the state’s regular 6% sales tax. Under the state’s adult-use law, cannabis excise tax revenues are used to “backfill” any deficit in the Cannabis… Read more.